WILL CRYPTO SURVIVE THIS DIP? written by- vishesh katara
WILL CRYPTO SURVIVE THIS DIP?
Written by- Vishesh katara
A cryptocurrency is a digital form of currency that is free from government and private sector tyranny. Satoshi Nakamoto allegedly invented it in 2009.
Since the launch of cryptocurrency, it has had a really volatile journey. But people have been divided on the views of cryptocurrency. Many say it took the control of currency from businessmen and politicians and has distributed it among the people and many say that being uncontrolled by the government has made cryptocurrency open for scams.
This can be seen by scammers scamming about 46000 people out of 1 billion dollar
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In 2019 the crypto market was having a blast bitcoin, Ethereum, Shiba, dogecoin, luna, and many more coins were at an all-time high. Bitcoin reaches around 70,000 dollars or ( Rupees 55 lakhs) a coin and Ethereum around 4,500 dollars (rupees 3 lakh ) a coin. Seeing the growth of the currency people started putting their life-saving and hard-earned money into crypto. But the crypto market has turned bearish. bitcoin - the dominant cryptocurrency - fell from a high of more than $67,000 to its current level just below $20,000 and Ethereum, is down around 60%. Crypto is hardly alone in flying through heavy 2022 turbulence. The stock markets officially dipped into bear territory earlier in June. But what is raising investor’s concern is the shutting down of a crypto coin named luna which went from $2 per coin to $-1.9 losing investors around an astonishing $30 billion (3000 crores) which gives a statement that crypto isn’t as safe as people thought it is
Now, the future of crypto appears to be really hazy. The future of cryptocurrency will also show that are we bounded by the regulations of government and the tyranny of businessmen that rule us
