FAKE MONEY – President Trump sensationally announced his dislike for cryptocurrencies. He denounced them as backed by nothing. Oh, like all FIAT currencies like the Dollar then…Unless you’ve been under a rock for the past few weeks, you will have noticed gigantic changes in the cryptocurrency space. Including the dropping prices & talk of banning them all. Let us guide you through what is really going on, what could happen next & what it means for XRP.
Will Crypto be banned?
It’s the question on many cryptocurrency investors lips right now. But are we right to worry and is it possible to ban them at all?
Those of us who have been here and seen it all before. Know crypto prices are very volatile and respond to news good or bad.
“This is indeed a national security issue, we will not allow digital asset service providers to operate in the shadows.”
Below we list possible reasons for the recent drop in price. And find out if cryptos will be banned or if it is even possible now.
We will also look at whether this could be exactly what XRP needs. In order to see the crazy prices that we all pray for.
President Trump for Crypto ban?
Trump did what he does best and set the world on fire via Twitter. This time for the cryptocurrencies worrying leaders deeply.
Anyone in the world with a cell phone can pay another person. Instantly, securely, most importantly, without a central bank.
“First, they ignore you, then they laugh at you, then you win.”
There is no way on earth the current world powers. Will just allow cryptos to take away the entrenched wealth of FIAT like $ or £.
What we are seeing here is perfectly natural as the new replaces old. Passing from the old system to the new.
IS CRYPTO CRASHING? – No, we don’t think so and we will show you all of the reasons why we think we are actually facing a huge upturn in prices…
Treasury Secretary on Crypto Ban…
And the US treasury sec. Steven Mnuchin is just as worried as the president. He declared when addressing congress recently.
His concern is illegal activity. He thinks these illicit activities are possible with the use of crypto, such as tax evasion.
“Cryptocurrencies such as Bitcoin have been exploited to support billions of dollars of illicit activity, like cybercrime, tax evasion, extortion, randomware, illicit drugs, human trafficking […] This is indeed a national security issue.”
This is from the man who oversees the worlds biggest currency, which is misused daily for illegal purposes. The US Dollar!
Labeling crypto as a ‘national security issue’ has certainly upped the game. But he stopped short of declaring an outright ban.
Mnuchin made his comments to Congress on July 15th.
Good for XRP?
If the US government along with places like the UK, Australia, and others were to ban the ownership of cryptocurrency.
Then things could possibly get hairy. Where XRP is concerned, however, Ripple works alongside regulators closely.
“It is well known that Christine Lagarde & the IMF are big fans of Ripple and XRP, and a number of Ripple top brass have been working very closely with the IMF for a long time”
So if they did actually ban crypto, it would leave XRP on its own in the space. Making its price absolutely skyrocket.
We don’t think it can happen but just the fact XRP is highly regarded by those in power. Means its value will eventually be huge.
Real Reason Prices are Low
Undoubtedly prices have been affected by the various issues covered here. But we think there are far more interesting reasons.
For the past few years major companies and the wealthy. Have been buying cryptocurrencies in the millions.
Why is price unaffected you may ask? The rich buy shares or crypto ‘over the counter’ and this does not touch the official price.
“Be fearful when others are greedy and greedy when others are fearful”
What does it mean?
This means there now many people with huge investments in crypto. These people affect the price by moving huge investments.
Whale watchers see these movements and sell their crypto positions. This reduces the price rapidly and causes major fear.
In this way, the price can be dropped. All just in time for the launch of BAKKT which will see institutional investment explode.
Crypto Banned? Yeah Right.
On the 22nd of July, the New York Stock Exchange launches BAKKT. This means for the first time people can invest safely.
Backed by the security and power of Wall Street. This will see trillions in investment now entering the market.
It should send the value of all crypto right to the moon. So keep Hodling, keep buying and buckle your damn seatbelt.
Full story on BAKKT Coming soon…