US Government’s Internet Surveillance Program Prism Drops Bitcoin Prices

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A proportional event one may call it, or just a coincidence, that since the US government’s internet surveillance programs PRISM was stripped before the world which involved the monitoring into various internet activities from users around the world, Bitcoin prices have faced an alarming drop.

The observation was first considered by the world’s leading bitcoin exchange Mt. Gox, which saw a consecutive drop in Bitcoin prices after PRISM story broke on June 5. Later on the same date, Bitcoin prices dropped dramatically during heavy volume trading, although the selloff had continued.

The link between both the events gives rise to speculation that the US might or might not be monitoring even Bitcoin transactions all over the world. Uncle Sam has already been trying to get rid of it upon it’s continuance to challenge dollars as the next best currency. The possibilities have created uncertainty that even if the US cannot stop bitcoins, but can surely monitor its transactions and trades.

“BITCOIN UNDER SURVEILLANCE” – a rumor that has affected the virtual currency deeply as of now. Although, it has been completely slippery from the hands of government since the day of its inception, Bitcoins may not afford a shadowing government upon itself especially when people are finally beginning to accept it efficiently. What it needs now is to gain people’s trust again and stay glued to their claims which term the currency as untraceable and unregulated.
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