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A MAJOR BLOW TO CRPTO MARKET IN INDIA

Union Budget 2018: The government of India does not consider cyrpto-currencies as legitimate, but it will explore the use of block chain technologies, according to the Finance Minister Arun Jaitely. Government all over the world is showing no mercy to cryptocoins. The Government does not consider cyrpto-currencies as legitimate but will explore the use of blockchain technologies, said Finance Minister  Arun Jaitley  during his Union Budget 2018.  "All crypto currencies, which include bitcoins, are illegal and the government will take all measures to eliminate their use" - Arun Jaitely This statement had a huge impact on Indian crypto market which has a 11% share in World Crypto market. Bitcoin which was trading before the Budget at $10,983 in India is now trading at $9,100 on Indian exchange Zebpay. But i don't think it will put an end to crypto coins in India. The government will come up with some regulations to tackle illegal transactions and tax evasi...
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Will Bitcoin Die? Is this the end of crypto?

Hello people out there. So there's an another crypto break down. Its quite obvious to doubt if crypto will survive in future.So lets talk about facts. This break down was a result of regulations announced by korea. Also one of the exchanges Coincheck was hacked. Let me answer your questions quickly

Will BITCOIN DIE?

 Here below is the 3 months chart of Bitcoin. It clearly shows Bitcoin is on downward trend. Bitcoin is of course the King but its aged. When technology ages it dies. Something new replaces it. The main purpose for which Bitcoin was introduced to do transactions anonymously is not possible with regulations coming in. While other currencies offers faster and cheaper transactions Bitcoin lacks that too. US regulations are yet to come which will further result in decline of BTC. So do you find any reason to use BTC? Some may argue that its rare like Gold. But Gold is tangible but bitcoin is not. You cant showoff Bitcoins. So there is no use for an aged coin now. It certainly has to die. It may rise a little more may be to $12000 again which is trading at $10,000 right now (31.01.2018 6.31 AM GMT) but in long run it wont survive as Bitcoin dominance is decreasing in the market. Last time when Bitcoin fell to 10,000 USD , Ethereum fell to 800 USD but this time again Bitcoin fell to 10,000 USD but ethereum is at $1,079. Now you may decide on your own.

 WILL BITCOIN'S DEATH WILL LEAD TO END OF CRYPTO?

Certainly No! Block chain Technology is the future. Bitcoin introduced the platform to us  but the newer ones are better and serve different purposes ( Like Ethereum, Ripple, Stellar, Tron Litecoin ). Its something like landlines (bitcoin) being replaced by cell phone (other cryptos) (being Bitcoin's Death will help other crypto's to grow. In short term everything will fall a little due to Bitcoin but in Long run Other coins will rise again. So this is what i personally think about Bitcoin and other cryptos.

Open to Suggestions and opinions.
"Do not invest what you cannot afford to Lose"


Comments

  1. MyCryp.to26 March 2019 at 03:25

    Thanks for sharing the facts about cryptocurrency and bitcoin. It's beneficial for us. Get the know all about the Bitcoin price & market analysis from bitcoin market analysis today

    ReplyDelete
  2. Brandon William13 May 2020 at 07:26

    In case you have been looking for out extra about Bitcoin, this learn may help you. In keeping with statistics, round 24% of the People know what this factor is. Nevertheless, the foreign money nonetheless has a price of over $152 billion. If you want to learn more about this topic please visit https://quickex.io

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A MAJOR BLOW TO CRPTO MARKET IN INDIA

Union Budget 2018: The government of India does not consider cyrpto-currencies as legitimate, but it will explore the use of block chain technologies, according to the Finance Minister Arun Jaitely. Government all over the world is showing no mercy to cryptocoins. The Government does not consider cyrpto-currencies as legitimate but will explore the use of blockchain technologies, said Finance Minister  Arun Jaitley  during his Union Budget 2018.  "All crypto currencies, which include bitcoins, are illegal and the government will take all measures to eliminate their use" - Arun Jaitely This statement had a huge impact on Indian crypto market which has a 11% share in World Crypto market. Bitcoin which was trading before the Budget at $10,983 in India is now trading at $9,100 on Indian exchange Zebpay. But i don't think it will put an end to crypto coins in India. The government will come up with some regulations to tackle illegal transactions and tax evasi...
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