Increased crypto regulation ‘GOOD’ for investors, India announces blockchain training in 30 cities
March 30, 2018
BITCOIN’S price could surge and turn around a period of tumultuous declines thanks to increased regulation that may be good news for investors, the head of mobile at a cryptocurrency exchange has declared. Bitcoin price drops will seed a potential future ‘BOOST’ in the long-term: “Increased regulation will be positive as it will add more legitimacy to the space and allow businesses to have much clearer guidelines when dealing with cryptocurrencies, whereas previously there has been uncertainty which has stunted growth.” Ed Cooper from Revolut, told Express.co.uk that 2018 is going to be an “exciting year” for Bitcoin investors and that further regulation will add “more legitimacy” to the market. He also added that the huge adoption of virtual money is based on its “underlying technology” and predicted that Bitcoin is going to emerge from its current period of declines stronger than ever. “The popularity of the cryptocurrencies is based on the underlying technology and not on advertising. Initial coin investments (ICOs) and cryptocurrencies have faced lot more serious problems in the past and have emerged stronger.”
Huge declines and spikes in Bitcoin prices demonstrate the monstrous volatility of the cryptocurrency sphere and this has many people worried. While many experts are telling the public to keep calm and hodl, while others are cashing out because they cannot stomach the losses. We hold on to the fact that if you are investing what you cannot afford to lose to side out the short term, then you should maybe reconsider the timing of your readiness for big gain potential investments such as cryptocurrencies. BITCOIN has continued to take hits overnight as the dreaded ‘death cross’ scenario – a term used by traders to define a downward market trend – has led to fears that bitcoin could “go all the way back below $1,000”, while on the bullish side of the market is predicting upward trends that bitcoin will go to $100,000+ and even that bitcoin prices could soar to the millions.
This news comes as India has announced a training programs for bitcoin mining in 30 cities across India. This comes as a surprising move as India has had a frosty relationship with bitcoin. Dr Malik said: “the program will educate the students about blockchain technology, bitcoin/cryptocurrency mining, entrepreneurship, startups and business establishment.” A recent chill has set into the cryptocurrency market in India.Tightening regulation and policy ambiguity have sucked the life out of trading in the past few months, though industry insiders say the phase may be temporary. All this is getting reflected in investor interest. A few months ago, the top e-currency exchanges of India were adding between 200,000 and 300,000 investors a month; now that has reduced to around 50,000 at the most. And the various stakeholders are pointing largely to the regulatory constraints and ambiguity across countries. While bitcoin and its peers are neither legal nor illegal in India, the government and the banking regulator have cautioned investors to stay away from them. Yet, trading in these currencies is not banned. The exchanges are taking heart in the fact that such lacklustre phases have come and gone for the virtual currency ecosystem in India.
It is important to keep in mind that cryptocurrency is a fraction of what Blockchain Technology can do. Follow us to stay in touch with both bitcoin and blockchain technology news from around the world. Cited sources: QZ.com, Express.co.uk