HUGE CRYPTO CRASH TODAY!! WHY IS THIS HAPPENING? WILL WE CRASH MORE? BITCOIN & DOGECOIN NEWS



Published
HUGE CRYPTO CRASH TODAY!! WHY IS THIS HAPPENING? WILL WE CRASH MORE? BITCOIN & DOGECOIN NEWS

Cryptocurrency and Regulation of the Official Digital Currency Bill of 2021. A formal bill to regulate the digital currency will be presented to parliament during the winter session, which begins on November 29. According to a government announcement today, the cryptocurrency bill is among 26 banknotes that have been listed for introduction. Prices of all cryptocurrencies fell by 15% or more hours after the government announced that it would introduce a cryptocurrency bill in the winter session of parliament, which aims to ban all private cryptocurrencies in the country, with a few exceptions.

This year, regulators have stepped up their grip on cryptocurrencies, with China completely banning all crypto-related activity and US authorities cracking down on certain aspects of the market. This follows recent crashes as Tesla made a U-turn in accepting bitcoin as payment for its products and China cracked down on initial coin offerings, block trading and a warning against speculative trading. The price of bitcoin plummeted after Elon Musk announced that his electric car company Tesla would no longer accept payments in cryptocurrencies.

Tesla CEO Elon Musk sparked the crypto crash by reversing his February decision to accept bitcoin as payment for his company's electric vehicles, calling his energy consumption "insane." Cryptocurrency fanatic, serial tweeter and Tesla founder provoked the incident by reversing his decision in February to accept bitcoin as payment for his company's electric vehicles, calling their power consumption "insane." However, the price of bitcoin began to skyrocket after Elon Musk announced that Tesla would no longer accept cryptocurrency due to concerns about the use of fossil fuels.

Bitcoin skyrocketed to an all-time high of nearly $65,000 in April, but fell below $32,000 on May 23, losing more than half its value since the peak. In 2018, Bitcoin fell to almost $3,000 after climbing to a high of almost $20,000 a few months earlier. Cryptocurrency advocates often say things are different this time around as more institutional investors enter the market.

A common investment thesis in favor of Bitcoin is that it serves as a hedge against rising inflation caused by government stimulus. If you think you can handle volatility and want to make a small investment in bitcoin, make sure you hold it for longer and you don't want to sell when the price drops and you're worried, Anjali Jariwala, as he told Money earlier , Certified Financial Advisor and Founder of FIT Advisors. Reconsider what you might prefer to do in the future, such as divesting fewer cryptocurrencies in the future, or diversifying into crypto-related stocks and blockchain funds rather than buying cryptocurrencies outright (though you still do when crypto markets hesitate Volatility should be expected). But Kim recommends asking yourself two questions before deciding to invest in Bitcoin or other cryptocurrencies.

Cryptocurrency is a bit different, however, as it is still very speculative. Huge gains and losses are nothing new for those who have been investing in cryptocurrencies for years. For example, Bitcoin hit an all-time high of nearly $20,000 in December 2017, but as of December 2018, it was trading below $3,500. As Bitcoin gains acceptance, "the ups and downs can be exciting.

*Privacy Policy found here:
https://www.elgan-investments.com/privacypolicy


*Note of caution: all of our videos are personal opinions. Do your own research. Never take one person's opinion for financial advice. There are many strategies and there is not one strategy fits all people. Our videos ARE NOT financial advice.

Category
Cryptocurrencies
Be the first to comment