Wild Journey Of Bitcoin

Wild Journey Of Bitcoin

Bitcoin made headlines in the financial world in 2017 and made a big leap in the investment portfolio. The world’s first cryptocurrency started its year with just $1000 and its value got skyrocketed by the end of the year, and the rise equates to 1300 %.

This mind-blowing growth in the price has taken everyone in the financial market to the government by storm. Five years back it was only known to computer nerds but five years later it has become a household name. However, with the loss in the price, the craze of bitcoin is down a bit but other Cryptocurrencies are still hovering in the market and eyes at US $350 billion market cap. However, it is just the beginning of this exciting and mind-blowing piece of technology

Being relatively new to the market Bitcoin is yet to establish itself in the financial market and find the framework that governs the market. This is true for all other Cryptocurrencies as well and government of all the countries is working to understand and regulate it. The government is not only struggling to regulate it but also working on the matters like taxability, monitoring mining activities and many other vectors. It is known to everyone that the cryptocurrency market is volatile; one of the driving forces behind this volatility is decisions taken by the different government for its legality.

For instance, in some Pan Asian countries, it is legal to trade Cryptocurrencies but illegal to use it for payment, whereas some of the western countries are friendly to Bitcoin use and is home for 2442 Bitcoin merchants. Some other western countries have contradictory behavior towards the use of Cryptocurrencies they do not accept them as a legal tender but allows them in the financial market.  Europe, on the other hand, is the home for 206o Bitcoin merchants and is open to its use. Some countries have banned the use of Cryptocurrencies and have declared severe punishment for their use.

Although, these contradictions and debates have not hampered the trade or investment of these currencies; financial experts are expecting large-scale investment from big institutions as the market matures for these Cryptocurrencies.

To conclude, there are much more can be expected from Bitcoin and other Cryptocurrencies from government acceptance point of view and investment opportunities. A journey full of excitement can be expected, with billions at risk. To know more click Bitcoin Code review.

 

 

 

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