More Drama To Follow As Bitcoin (BTC) Fluctuate – Here is What To Do
In late 2008, two creative minds launched the worlds first decentralized digital currency – Bitcoin (BTC). After several years, the world believed that it’s worth investing. However, due to recent price fluctuations, it is prevalent to see articles that ridicule the currency. Even if you are an experienced blockchain expert, it is difficult to predict the future of cryptocurrencies. In reality, Bitcoins led to the development of new careers, and many books were written about it. For this reason, many investors thought of it as a safe bet. But now, every news about Bitcoins is received with great disbelief. In the recent past, BTC charts have been showing retrogressive graphs.
Look at the top 4 Bitcoin (BTC) dramatic trends, and a safe way forward based on expert analysis.
- A Sudden Rise – On Wednesday, Feb 7, the price of one Bitcoin Rose from $6000 to $8,400. As can be seen, buyers would have taken advantage of buying more coins while it was still at $6,000. Normal blockchain coding didn’t just bring the top dollar surge. Instead, The Senate Banking Committee had a meeting and ordered for the increase. The main agenda of their meeting was consumer protection.
- Politics and Bitcoins – Even though the cryptocurrency raze started as an independent industry with little government influence, politicians couldn’t resist talking about it. For instance, on Feb 8, 2018, a lawmaker in the United States wanted members of Congress to declare their cryptocurrency net worth. Besides, in a bill submitted by another lawmaker, all cryptocurrency transactions will be charged once the bill is approved.
Talking of politics, see what Minneapolis president Neel said. Neel Kashkari, an Indian banker, does not believe in Bitcoins. He further claims that Bitcoins is for Toy Collectors. All these political trends happen because Bitcoins are seen as a threat to the monetary system, gold ounces, and other forms of business.
- Oversight – The Securities and Exchange Commission has always set laws to protect American Households. As part of their work, SEC plans to inspect all cryptocurrencies, Bitcoins being an easy target. Other companies like ProShares opposed the SEC suggestion. As at now, there are no cryptocurrency monitoring bills that have been approved.
- Facebook Ban – Unfortunately, Facebook banned cryptocurrency Ads. Cryptocurrency fanatics already feel the impact of losing presence in the largest social media. The leading cause of this ban is that fraudsters were using Ads that do not comply with Facebook’s policies. For this reason, Facebook is still conducting investigations on the same matter.
Here is what you should do with Bitcoin (BTC). Buy more. One big mistake is staking everything on Bitcoin. Another big sin is staying without buying the coin. This advice is not an endorsement. As can be seen, the crypto-giant is promising. Here are few reasons why it has a potential future. Right from its proven history, through the deliberate rise in price, up to the setting of regulations that favor consumers, BTC remain to be the most reliable source of income.