Tuesday, November 29, 2022

Before the ban there is a huge drop in cryptocurrency, the price of bitcoin went down

Cryptocurrency Prices Today: After the talk of a ban on cryptocurrency came to light, there has been a huge decline in all cryptocurrencies. All cryptos including bitcoin, ethereum have registered a decline, and cryptocurrency has broken up to 30 percent.

Central government is preparing to ban private cryptocurrency soon and in the winter session of Parliament starting from November 29, the government will introduce the Bill on Cryptocurrency. This news is for those 100 million people of India who have invested in some or the other cryptocurrency. This will upset all those people who have put their money in cryptocurrency because the Indian government is going to ban cryptocurrency completely soon.

Only cryptocurrencies issued by RBI will remain valid

70 thousand crore rupees of 10 crore people of India are at stake in cryptocurrency. This statistic is fascinating, but it is also disturbing. Cryptocurrency means the digital currency and over which the government has no control, but the government is now going to ban it. In the list of new bills that will be introduced in the winter session of Parliament from November 29, the bill related to Cryptocurrency is at number 10 in the list, in which it is clearly written that the cryptocurrency to be issued by the Reserve Bank of India (RBI) in the future. All private cryptocurrencies will be banned except for the currency (Cryptocurrency).

Huge fall due to news of cryptocurrency ban

As soon as the matter of the ban on Cryptocurrency came to light, that there has been a huge decline in all Cryptocurrencies. All cryptos including bitcoin, ethereum have registered a decline and after the news of the ban, the cryptocurrency has broken by about 30 percent. During this period, the biggest decline in bitcoin has been seen and it has seen a decline of up to 29 percent. At the same time, the Ethereum cryptocurrency has also declined by 27 percent.

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Which currency fell by how much?

Cryptocurrency Fall

Bitcoin 29.15%

Yarn Finance 29.74%

Ethereum 26.95%

Maker 25.85%

Filecoin 30.05%

PM Modi said this about cryptocurrency

Only last week, Prime Minister Narendra Modi (PM Narendra Modi on Cryptocurrency) had said that the democratic countries of the whole world should ensure that this new age of digital currency does not fall into the wrong hands. PM Modi had said that Cryptocurrency can ruin our youth. The government’s concern is also about the fact that Indians are at the forefront of using cryptocurrency all over the world.

Business spread 7 thousand times in 8 years

At present, more than 7 thousand different crypto coins are in circulation all over the world. These are a type of digital coin, whereas till the year 2013 there was only one cryptocurrency in the world, which is named Bitcoin. It was launched in the year 2009. That is, between 2013 and 2021, this business has spread 7 thousand times, but its future in India is now going to change completely.



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