The initial unfazed countenances displayed by Bitcoin and other cryptocurrencies in the market after President Donald Trump’s vilest statement was unsustainable as BTC and altcoins afterward slope down the chart coupled with other defacing assertions from most of the US congressmen at the senate deliberation over Libra and cryptocurrency entirely.
However, crypto pundit John McAfee, has mentioned that US has no viable power over Bitcoin and the entire industry, remonstrating the effect of the world’s most powerful country on Bitcoin’s price.
Musing over the expectation of many in the industry in line with the rally initiated by Bitcoin since April, BTC is at present trading low against US Dollar. Far beyond people’s imagination, Bitcoin dropped from the year high value of $13,800 to around $9,000 with no tangible sign for another upward rally.
John McAfee has confirmed that Bitcoin and its price are under the pressure of the United States, but addressed it as an artificial effect that won’t last.
The eccentric crypto pundit who is a proponent of Docademic coin urged investors, traders, as well as other Bitcoin enthusiasts not to panic over the present trend of the asset as better days await them.
McAfee implored investors to keep at vigil as “Bitcoin will continue its meteoric rise” next week.
The antivirus guru further stated that the present effect poised by the United States on Bitcoin’s price is unsubstantial and “the U.S. has no real power in controlling CryptoCurrency.”
Bitcoin is under pressure from the U.S. and its price reflects it. But the U.S. has no real power in controlling CryptoCurrency. Just watch. A week from today Bitcoin will continue its meteoric rise.
— John McAfee (@officialmcafee) July 27, 2019
Does U.S. Really Have Control over Cryptocurrency?
The United States, including its President and majority of its lawmakers have shown their antipathies towards cryptocurrency despite the credence the innovation is bagging from around the world and the indisputable profound use cases it offers.
The hostility is allegedly due to the fear of what crypto, especially Bitcoin, can do to the heavy weight, widely acceptable currency – U.S. Dollar, and the U.S. economy.
In spite of its domain over other countries of the world, the U.S. has been unable to scare them away from the benefits of Cryptocurrency.
It was previously, reported that the Palestinian Government will be launching a Cryptocurrency economy, while enormously populated China have also waged in on creating its own digital currency. The speaker of the Nigerian House of Representatives, Femi Gbajabiamila, likewise called for a crypto legal framework in the country.
The fact that countries and top renowned companies of the world are embracing crypto so as not to be left out in the 21st century innovation winning streak is sure a reason to believe that U.S. has no real control over crypto and it will soon join the league.