Marc Chandler, the Managing Director at Bannockburn Global Forex, said that the US and Europe are not going to ban Bitcoin. He said that the investors in crypto assets need not worry about the crypto crackdown in the United States and Western Europe, similar to what happened in China recently.

Marc Chandler Confirms Crypto Crackdown Won’t Happen in the US and Europe

Marc Chandler spoke to Bloomberg Technology recently regarding the Bitcoin legit acceptance and addressing the present crypto crackdown in China, said that the investors should only care about the regulations that could be there in general. He added:

“I think that the U.S. Western Europe is not going to be so much banning crypto as some people fear to protect their monopoly. But rather regulating it making sure that it’s not being used to do undesirable activities. But I think that the other hurdle there’s going to be coming to besides the regulation from Americans.”

Most recently in China, Bitcoin and the Bitcoin mining business have faced immense pressure from the Chinese authorities to discontinue their operations, which has led to the plunge in the market. Apart from this, the Chinese authorities have imposed a ban on crypto trading in the country.

Though the asset has bounced a bit from its lows, the pressure can still be witnessed in the market.

Who Should Invest in the Flagship Cryptocurrency

Talking about the Bitcoin Investment Space, Chandler mentioned that it is majorly focused on institutional investors, and to some extent, he believes that it is not the best option to invest for average investors.

Discussing further the future of Bitcoin, he mentioned that it can not be ignored that the digital asset lacks any kind of intrinsic property, due to which the psychological factors and emotions are going to play a vital role in directing the path of the currency.