By Max S - Cryptocurrency Enthusiast - 25-06-2021
Bitcoin (BTC) investing has provided the world with a mixture of emotions. Some people do not like that the coin is both volatile and unregulated, whereas others appreciate those two features. Some countries have gone as far as to ban buying Bitcoin and crypto business, while other countries are beginning to embrace crypto fully.
Due to the latest crackdown from China, many investors remain cautious about their holdings and wonder if other countries that have a major influence on crypto market investment will do the same. The crackdown in China caused mining operations to be halted, with 90% of miners out of work. One strategist thinks this is unlikely to be the case, as they believe two significant players will utilise the crypto industry.
Global forex chief market strategist Marc Chandler has stated that the US and EU have no plans to ban Bitcoin buying and other cryptocurrencies. He further says that the crypto community should not worry about the United States or the European Union following China's steps. With that in mind, investors should expect regulation for popular coins.
Marc Chandler explained that the US and EU wouldn't ban crypto due to fear of losing investments. However, because cryptocurrency has a bad reputation for being used for illegal purposes, there is a high chance for crypto to become more regulated to prevent unlawful actions. Chandler further discusses that cryptocurrency is helpful as a portfolio diversifier as it grows and evolves.