By Arashibar - 20.01.2020
Future of cryptocurrency in india 2020
Prohibition on dealing in Virtual Currencies, Notification, 6th April, 3. MANU/SC// 4. Internet and Mobile Association of India v. Speculating the future of crypto in India we can hope to think that things might work out positively on how things are being handled as of now. India back in
How do you think has the coronavirus outbreak affected Bitcoin?
I think, since the coronavirus outbreak, the correlation between Bitcoin and the equities market has increased. The reason for this was because there was a sudden flight to liquidity, and so, a lot of investors had margin calls in Equity that had to be covered by liquidating other assets like Bitcoins into cash - to meet those margin calls elsewhere.
Despite growing interest, cryptocurrencies face uncertain future in India
There is a lot of uncertainty in how things will pan out and BTC is no exception. The problem is that the 12th March liquidity crunch has spooked some crypto investors and some market makers as seen in data from Bitmex.
Is it possible that this rise in prices at a time when most other investment options look unprofitable is because Bitcoin is becoming a safe haven? Bitcoin is far from becoming a safe haven like gold or silver, even though its current trajectory looks similar.
These are monumental changes in the underlying future of cryptocurrency in india 2020 will only change if the Fiat system itself is under threat.
There are various narratives surrounding Bitcoin, but the biggest one still remains the fact that most volumes are due to trading.
Some would argue it is gambling of sorts, while some will see a move towards digital gold. As long as the dollar remains strong, it will be difficult for Bitcoin to replace that.
The Supreme Court has lifted the ban on cryptocurrencies in India. Can Bitcoin become the new darling of investors?
That seems to be very unlikely in view of future of cryptocurrency in india 2020 current situation. At such times, nothing else matters apart from survival. People want cash and liquid assets; they are not future of cryptocurrency in india 2020 for alternative assets like property or even illiquid bonds or illiquid stocks, let alone crypto.What's Next For Cryptocurrencies in India?
It will take future of cryptocurrency in india 2020 time for India or any other nation to fully adopt BTC. Keep in mind, equities as a traditional assets are looking very lucrative right click to see more. But Bitcoin is a highly liquid asset compared to equities… Let me ask you a very simple question.
If I give you 1 Bitcoin and at the same time 1 share of say future of cryptocurrency in india 2020 xyz company, which one would you be able to convert in INR more easily? Bitcoin liquidity is definitely increasing post SC's decision. Exchanges like WazirX and CoinDCX are doing a great job but volumes and liquidity are nowhere close to what international investors are used to.
Hence, the focus of investors will not shift to Bitcoin anytime https://catalog-show.ru/2020/bitcoin-forecast-june-2020.html. What is in store for Bitcoin, once the world economy slowly recovers?
Coronavirus has had a huge effect on the nascent industry of crypto currencies.
We were already dealing with various issues, like regulations, liquidity.
However https://catalog-show.ru/2020/cosmos-coin-2020.html companies are building a lot of interesting products but there is still a lot of future of cryptocurrency in india 2020 surrounding Bitcoin even today.
Though it future of cryptocurrency in india 2020 fairly be called a mainstream asset now, it is yet to be institutionalised. Till future of cryptocurrency in india 2020 happens, the crypto industry will continue to future of cryptocurrency in india 2020 amid all the uncertainty, which has been further highlighted by Corona situation.
Hopefully, few years down the line, the change in narrative will be more of a positive one.
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