Bitcoin shocks $ 10,000, investors fear new US president Joe Biden

Bitcoin investors opened on Thursday with a 10 per cent shock. With this downturn, the prevailing uncertainty has been further strengthened over the past 10 days. Bitcoin touched a record high of $ 31,977 on Thursday, January 8, from a record high of 42,000. There were already concerns about cryptocurrency that threatened the stability of global markets. Now, according to recent developments, its investors fear that US President Joe Biden should not issue orders to regulate this virtual currency by imposing some kind of rules.

Bitcoin: Millionaires can only make 1 ‘coin’ in the next few days, know how to buy and sell it

Let me tell you, the Government of India is concerned about imposing an 18% Goods & Services Tax (GST) on bitcoin trading. The Bitcoin transaction is estimated to be worth about 40 thousand crores annually. The proposal was put before the Central Indirect Tax and Customs Board (CBIC), the Central Economic Intelligence Bureau (CEIB), a branch of the Ministry of Finance. The government earns about Rs 7,200 crore annually from trading bitcoin.

Bitcoin prices come in record bounce

Crypto Currency Bitcoin continues to break records worldwide. Large investors are investing in it because of the high return. Previously, for the first time, bitcoin crossed $ 42000. The Bitcoin and Bloomberg Galaxy Crypto Index has tripled this year.

What is Bitcoin?

Cryptocurrency is a digital currency based on blockchain technology. Through this strategy, currency trading is fully audited. The operation of cryptocurrency is independent of the central bank, which is its biggest drawback.

This way of trading in Bitcoin

Bitcoin trading is done through a digital wallet. Bitcoin prices are the same at one time worldwide. No country decides it, but it is a currency that must be regulated digitally. Bitcoin trading has no fixed time, which is why its price fluctuations are so rapid.

What are the risks associated with it

The price of a share in the stock market is determined by the profit position of the company or the profitability of the bond, but is not found in bitcoin. There is no basis for determining its price. These proponents say that in other investment resources such as gold, there is no value associated with them. Huge fluctuations in the price of bitcoin can be quite stressful.

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