Bitcoin is really one of the best digital currencies, attaining massive popularity among people worldwide. This is because bitcoins are the decentralized form of currency that any central authorities do not own. But the people who have just entered the bitcoin world quickly get afraid when they notice fluctuations in the value of bitcoin. In the last few days, there has been a certain number of falls observed in the value of this digital currency, disturbing lots of people worldwide. Due to tweets and some global events, the entire market of digital currency has got disturbed and resulted in a sense of fear and uncertainty because the individuals have invested a billion in cryptocurrencies to become Bitcoin Champion.
If you have also got nervous by experiencing the change in the value of cryptocurrency, then it would be a better option for you to have patience and freeze your investment because the bitcoin value has started recovery and will reach to highest mark as the days will pass on. The second week of May 2021 has been a volatile time for digital currencies like Bitcoin, Ethereum, and Dogecoin. Many of the investors have stepped out after reaching $37,000 because they cannot bear more loss. But the intelligent investors have understood that investing for the long term without releasing the bitcoins is a great idea. The crypto investors from India are also taking are following this way as they are considering crypto the best source to invest getting returns in the future.
As compared to other countries, India is a country where investors are ready to invest a considerable amount of their income in bitcoins and other digital currencies. The rise in the number of investors has crossed the mark of 7 million and still significantly growing at an excellent speed. This has admired the developers for developing the bitcoin exchange platform in such a manner that they can offer the best quality crypto service to their potential users.
You would surely have heard about the crash of various crypto exchange platforms such as WazirX and many more. The Reserve bank of India might not be interested in observing the transactions related to bitcoins, but the government is undoubtedly in favor of these digital currencies. Even the investors have understood the fact that bitcoin is the future of currencies, and it is to be adopted by everyone who wants to move with the trend of the 21st century.
The statement revealed by Rahul Pagidipati, CEO of Zebpay, indicates that Indian investors are considering the bitcoins from a different point of view. They actually think that bitcoins are an asset that has been meant for long-term investment. The longer time an investor will invest in this currency, the better amount of revenues will be generated by him. And it is a reality that domestic investors have a different theory about digital currency as they mainly invest in them to make revenues.
You would surely have heard about the severe restriction that was imposed by RBI in 2018 to banking institutions to break the tie-ups with organizations and stop serving those who are involved in crypto-based transactions. The SC of India has permitted banks to manage the cryptocurrency-based transactions performed by the exchange and trading platforms developed for bitcoins. This has resulted in offering great relaxation to the investors as now they can continue transacting using the fiat money-based financial institutions.
After the unexpected dip, the bitcoin value has started to recovery, which is only because of some of the small investors—the investors who have started buying the bitcoins for the long-term approach. So, every investor should better understand the nature of bitcoin and have some research about it which will surely convince them to grab this opportunity. The volatility is a ubiquitous thing for cryptocurrencies, but the revenues that they can offer are not possible to attain by any other monetary source.
Some of the experts have also declared that Bitcoin now comes in the category of the macro assets, so for anyone who wants to make a long-term secured investment, then bitcoins is a really top-notch option for them.