Beware beware the ides of 2018.

This year will be the pivotal year for crypto currencies; I have always said that, the survival of this market place hinges on two factors in my opinion.

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• The overall market cap for the market place reaches the trillion dollar mark. If the overall market capitalisation surpasses the trillion dollar mark then it is my view that the market place would have gotten big enough and robust enough to resist any forms of attacks that might be coming its way, and make no mistake, the attack will come.

• If the market cap does not pass the trillion dollar mark, the market place is still fairly buoyant by December this year, if the market place can see this year out in relative strength then it has a better chance of surviving. This is a make or break year, a breakthrough year.

But have no doubt, the vultures are circling.

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Mid last year the Chinese government temporarily suspended Bitcoin exchanges, the market reacted badly to this but it turned out that the suspension was mainly because the party in government (well, it’s a one party state really isn’t it) was having its conference season and apparently during this period the government shuts down anything that might potentially create any form of negativity or bad news, the party season passed, they relaxed the ban and things quickly got back to normal. I recall though that at that time the ban caused quite a bit of a panic and the market place took a bit of a hit, but as I said, it passed.

Not to be left behind, the Russians have also been piping up about cryptos, but as ever, with Putin and Russia, it is ever a double game, for the first two quarters of 2017 all you could hear from Putin and Russia were negative comments about the market place, comments such as it is underworld money, it is criminal money etc. were the order of the day, however, by midyear (2017) Russia surprised everyone with what seemed like an about face, suddenly, they announced that they were working on a Ruble crypto which will launch soon!. We continue to watch with bated breath.

Meanwhile, the middle east has now joined in, Saudi billionaire Prince Alwaleed bin Talal recently grandly announced that Bitcoin is doomed to crash!, it is another Enron in the making! He lamented, he hinged all these on the fact that the whole market place is unregulated, not to be outdone, the Iranians recently came out and announced that trading in Bitcoins is illegal.

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To America, Wall Street Banks have recently pushed back the launch of a Cryptocurrency exchange sparking concerns that there might be unfavourable regulations on the way. In India, the central bank continues to sound alarm about cryptos.

So, back to where we started from, concerned about the level of Bitcoin mining activities that is taking place within the country, the Chinese government has directed that the regions where these activities are most concentrated should tone down their electricity output in order to frustrate the miners.

You see, the thing is, Cryptocurrency is the biggest fear that all governments have, what do governments like to do and rely on the most, control, and how this control is most effective, via money, imagine therefore a situation where the government cannot control your money which by extension means that they cannot control you, they cannot have that. Can they? And this is where the battle line is.

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Beware beware the ides of 2018 – the vultures are circling and the game is afoot ...

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