Bitcoin may rise in price but past week was not good for its values. There are some economists who are warning people about the fall bitcoin is going to experience in future. There are some people who have estimated that one day it will replace Dollar and Pound. But the thing is no matter it fall or rise; it will not affect the economy that much. Some South Korean capital economist claimed that it will turn established currency into “rubbish”.
Few weeks back bitcoin was on the pick value of more than $19000 but it experienced a fall. Still the price is good with some rise in value. Right now it is of about $11066. Its current price is 10 times the price it was a year ago but still it is going to face a fall soon. People are only investing into bitcoin not based on some strategies. They only want to see the prize keep on rising. Investors don’t have any clue what is going to happen next.
Bitcoin’s have unexpected growth and fall. Not just that there was once a hacking attempt happened at Bitcoin. These kinds of crackdown will lead it to a fall. Crackdowns are the trigger that will start the fall of the Bitcoin prize. South Korea accounts 15% of the Bitcoin Trading happening on daily basis. But now the capitals have issued that they are about to shutdown bitcoin exchanges. This idea was raised by the justice minister of the South Korea.
They are planning to shut both the virtual and local exchange points those are violating the laws. Still the capital knows that whether if the bitcoin falls, blockchain is going to have a last longer impact.
“Not only could it transform the financial system – by removing the need for banks to act as intermediaries – but it could have applications elsewhere, for example, in maintaining tax and hospital records. A particularly interesting element is smart contracts, which could transform supply chains and trade finance.”- said Choi Jong-ku, chief of financial services commission. |
