There has been a sharp decline in the prices of Bitcoin and various other cryptocurrencies. The other sign that the investors are pulling back from the bets that are riskier after sell off of the stock-market last week.
Bitcoin is known to be the biggest cryptocurrency by its market value. It also jumped 20% and more to $42,000 on Saturday prior to bouncing back, as per the data received from sources. This crypto currency was even trading at $49,000 on Saturday evening, which was down by 9% in almost 24 hours. It took a temporarily dipped at the level of $42,000 prior to bouncing up back again. Ether, which is the second biggest cryptocurrency, was also down by 16 percent.
Regulating Bitcoin
There is no doubt that regulating bitcoin will definitely be a crucial and important part for the authorities. It will be along with maintaining security measures and safety of the investors. On the other hand, Cryptocurrencies such as Ether and Bitcoin are safest way to enter this market. You might also hold or even sell them at any point when they want. Also, cryptocurrencies are where internet was in the year 1997.
Growing Crypto Industry
It is also well said that governments don’t want to get ignored. Ultimately, they would also do what is as per the interest such as taxation or adoption. Also, Over-regulating of the crypto currency does not assist with the upcoming industry as well. For example, the sector of automobile grew quite slowly in the initial years. Mainly because of regulations such as requirement of the person that needs to simply wave red flag for alerting people.
People who are looking for long term investment should keep on with the investment. It is also suggested that they should keep buying Bitcoin and other crypto currency during such dips.
