Bitcoin: A New Way Of Trading
In 2008 cryptocurrency was found by a person named Satoshi Nakamoto. To honor the name of the alias, the smallest Bitcoin was given the name Satoshi. No person, company online marketing company, or organization is in control of the well-known cryptocurrency. With hands-on, you can access your funds through a digital wallet that can receive and send the desired amount of currency on your demand. It is like any other money, and it can be used as a peer to peer transfer or for business purposes. The transactions do not guarantee anonymity as a public ledger is maintained. However, you don’t need to disclose your identity to download Cryptocurrency digital wallet. People even use different addresses to avoid tracking transaction.
Adaptation of cryptocurrency in India
Three weeks before Covid-19 shut down the world One Search Pro marketing , imposing nationwide lockdown in various countries to stop the surge of coronavirus, The Hon’ble Supreme Court Of India stated and marked the cryptocurrency country’s rebirth. The Supreme Court order gave rise to positive sentiments of market players in a time of struggling economy. Several reports suggested that there has been a positive rise in the peer to peer exchange of cryptocurrency and that it is higher than that recorded in December 2017.
Impact of Covid-19 on Bitcoin
The Covid-19 pandemic brought the entire world to a stand till, and this heavily impacted financial markets all over the world, including the market of cryptocurrency. During the pandemic’s starting phase, on the 12th of March, it saw a steep decrease in its market price and then a sharp fall. All the major investors and miners decided to liquidate their money in fear of heavy losses. After a while, a surge in Cryptocurrency’s market price was seen, but since March’s downfall, the investors were unsure how much to be invested.
Bitcoin: a haven?
Various sources are claiming Cryptocurrency to be a Safe Haven, just like gold and silver. We know that the currency is way far from being called a Safe Haven. There have been various discussions relating to Cryptocurrency’s positive growth, which is soaring high, but if you see the market structure and investor’s point of view, it needs to place trust in the market. The creator is unknown, but still, the cryptocurrency has not led the first investors down. If you see, it is a highly liquid asset and can be converted to cash very easily. The trust factor of Indian investors is not likely to increase towards it because not many have a clear view as to how the cryptocurrency works, they are most likely to purchase shares rather than a currency that stays in a digital wallet, but with time, investors will start investing in the Digital currencies.
Bitcoin: success or failure?
The cryptocurrency has been in the media coverage for a good amount of time now, despite having felt the sudden downfall and sudden surge. Like any other unique and creative innovation, cryptocurrency has made a mark in the market and investors’ minds.
There are not many users or investors, but with time passing, cryptocurrency will be the reason for healing the economy and take the investor to great heights.