The chinese central bank believes that the Bitcoin will decline gradually

A leader of the people’s Bank of China (PBoC) said that he thinks that the Bitcoin will eventually float on the river, like a corpse. In fact, during a financial forum in Shanghai, Pan Gongsheng, vice governor of the PBoC, commented on the decision of the central bank to crack down on the trade of crypto-currencies and against the ICO.

Balance sheet

A theory that has its foundations

According to Pan Gongsheng : “It is scary to think where the market would look like now if the ICO and exchanges of Bitcoin were still allowed in China “. During his speech, Gongsheng was quoted in the chronicle of Éric Pichet, an economist and professor of French at Kedge Business School, in The Tribune. In his text, Pitcher argues that crypto-currencies will disappear either by hacking the network Blockchain, or via a global ban and global of the various governments. We can read that the first reason that could lead to the decline of Bitcoin is a widespread theft of passwords and digital wallets. The second reason, according to Pitcher, would be a piracy of the Bitcoin network, which would lead to a flood of fake Bitcoins, and therefore to a price collapse.

Ilo-finance

China is helpless in the face of the power of crypto-currencies

On this basis, it is not surprising that the vision of Gongsheng about crypto-currencies is also pessimistic. The theory of Gongsheng is all the more possible that some large countries seem to want to curb the growth of Bitcoin. Recently, it was learned that the department of the british Treasury planned to introduce a stricter regulation on crypto-currencies, in order, supposedly, to fight against tax evasion and money laundering. Even China and the United States use this argument to strengthen their control over crypto-currencies. What is amazing is that even if the chinese authorities had hoped the end of crypto-currencies, they still exist, and even remain to grow and increase in value.

Source : Cryptocoinsnews