long-awaited decision on Cryptocurrency legalization has been disclosed and it is in favor of cryptocurrency and now cryptocurrency such as Bitcoin and so on legal in India, which any Indian Citizen can Trade, Mine, Hold, Transfer, Exchange, Buy, Sell any coin in India, as in May 2018 Reserve Bank of India was banned cryptocurrency-related transaction and sent legal notice banks in India and also started punishing 10 year of jail as well as applied fine in terms of money, so due to this sudden decision many of cryptocurrency holder started selling their cryptocurrency without thinking of loss or profit and some of them are still holding in their wallet with the hope of Supreme court will give green signal to this great technology.
Why Cryptocurrency Was Banned?
as we know cryptocurrency investment i.e. buying or selling is fully hidden, so most of the time send and receiver is unknown or protected due to which many of people are started converting black money to white or started hiding their black money by investing in cryptocurrency and along with this there are lots of frauds cases such as fake investment office offering scheme such as “Paisa Double” in few days and many more in that biggest fraud was captured is of 100 crore worth coins got stolen, as reason behind this Cryptocurrency was started building their name in investment market and in initials days there were bugs due to which security is not that secure but now thing are changed because highly secured cryptocurrency launched and they have changed Blockchain with most advanced feature along with low-cost transaction fees and faster transactions.
Cryptocurrency Trading is Restart?
as immediately after following Supreme Court decision India’s biggest trading portal announces on their app i.e. server will start working and you people can buy and Sell available, as there are lots of trading platforms India was waiting for decision and most of them were active during the period ban i.e. Bit Bns, Unocoin and many more, so after all, this which takes almost two years to get result on cryptocurrency future this will be the biggest gain ever because after two of the most populated country takes decision to not give permission to invest in crypto was created huge impact on market which result no one taking interest in investing since end of 2018 to end of 2019, now Trading is started for now and some portal will take some time to get things back into track and hopefully as per starting this year will be the game changer for cryptocurrency.
Cryptocurrency Price Prediction
price of most of the cryptocurrency started hiking with decent percentage since beginning of 2020 but there was no huge growth was seen in Bitcoin as every time Bitcoin is about to cross $10k USD mark but after crossing it again start dropping to $7k and this cycle keeps repeating, as expectations of investor was different they were expecting Bitcoin to reach $20k USD mark, as after following this good and considering number of people suddenly started investing in Bitcoin and other coins then market surely hiked with skyrocket speed, but there are few threats currently running may affect this growth, as we know we are facing disaster loss in share market due to Corona Virus, as we know most of the company is dependent on raw material which is provided by China, as this Virus deadly, so there are less Import and export which creating huge impact on big company all over world and this indirectly impacting Share market so following this most of cryptocurrency along with Bitcoin is from China, so it may affect Cryptocurrency too.
in Which Cryptocurrency You Should Invest?
Ripple: after Bitcoin Ripple was most traded cryptocurrency by Asian and reason behind this is its very low-cost cryptocurrency and secondly, it charges very low transaction fees, as well as their security and trust, is far better than another top cryptocurrency as right now Ripple is converted into separate Brand i.e. XRP so don’t get confused about it, as we know in 2018 where cryptocurrency was on the peak Ripple was hiking with huge percentage but after it was dropped with huge percentage too, so if invest right now and after it started rising with chasing previous highest price mark then you should get huge profit in return.
Ethereum: after beating Ripple gaining huge attention as second most traded cryptocurrency is back on his track and reason to buy this during peak period Etherum almost reaches to $1.5k USD and comparing with current price then it is 7 times less than all-time highest so here also you can get maximum Return on Investment.