The price of the bitcoin is slowly picking up. Although it is, investors are still apprehensive. In recent weeks, following last year’s surge, the coin is facing numerous troubles. Several governments are imposing stringent rules. The aim is either to control the trade of cryptos or abolish them altogether. In spite of all these, the price of the bitcoin seems to be coming back. Is this a sign rigidity on the coin or it is not just the right time?
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Different financial experts are giving diverse opinions on this. Some are saying the coin will see more volatility thus disappear. Others are saying that the altcoin and several others will become the next big thing. Although there are diverse views on the bitcoin, experts from across the divide agree on one thing. They all agree that there are problems ahead. Yes, all they are saying is that there will be a crisis.
Crisis With Digital Currency Prices
On what will be the cause of the crisis, experts differ again. Some say that it is the coin’s high volatility. Others point fingers to various governments and state agencies. For instance, those who look to governments and state agencies mention some names. They talk about ‘Know Your Customer’ rule. Also, this is a policy in the U.S. As the words suggest, the aim is to know who you are dealing with. Also, this is contrary to the nature of the bitcoin. When governments and agencies want to impose laws like this, it is a benefit. It is a killer as well.
South Korea are shutting down anonymous accounts
It is a benefit in that; it is becoming a mode of payment. In some areas, you must link your cryptocurrency account and the bank account. Other countries like South Korea are shutting down anonymous accounts. So, it means you must run an account, which the government knows. There are several other countries with strict measures. India is another one. The country recently shut down cryptocurrency accounts.
France, Russia And China
France, Russia, China and others are also on this list. During an interview, Visa CEO says he doesn’t recognize the red-hot coin. In spite all these negativities, the price of the traditional digital currency is coming up. It is true that the coin together with Ripple, Ethereum, and BCH crash. But they are slowly stabilizing. Bill Browder, a financier, says that although there is some recovery, cryptos will face even more crisis.
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Ripple, Ethereum, And BCH Crashes
“Bitcoin and other cryptocurrencies are a way for bad dictators. The coins depend on criminals to bypass sanctions. From my perspective, and I think from the perspective of politicians, it is not easy. Governments are not going to allow digital currencies thrive. It is hard for this to happen,” Browder says. The financier adds that several sanctions are on their way. He even says that in case governments give cryptos room, it will be a small space.
Cryptocurrencies Will Be Regulated
“They will eventually regulate all cryptocurrencies. It will be the same way you can’t take out more than $10,000 out of the bank. If you do, you must report it to the U.S. Government. They’re not going to allow people to take a million worth of bitcoin. Nobody will allow you to move it from Russia to Switzerland. That’s just not going to happen,” Browder adds.
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