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Downfall in Bitcoin

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Downfall in Bitcoin
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For the last few days, again the boom in cryptocurrency was seen and the boom came when Tesla owner Elon Musk, in Bitcoin, announced to invest 6 million dollars.

By then, bitcoin had reached 58,000 dollars. But due to a tweet by Elon Musk, there was a huge decline in bitcoin. Elon Musk tweeted that the price of bitcoin is increasing at a much faster rate. After his tweet, New York’s bitcoin fell by $ 8000, i.e. a drop of 18%.

Downfall in Bitcoin

After which bitcoin came down to 50,000 dollars. Not only this, shares of Tesla have also fallen 8.6%. Elon musk dropped from first place to second place due to fall. And in the first place, Amazon CEO Jeff Bezos recaptured.

Downfall in Bitcoin

Big bull Rakesh Junjunwaliya from India has said that he has never invested in bitcoin. In a private television interview, he said that he did not want to invest even 5000 dollars in bitcoin and such currency should be closed.

Downfall in Bitcoin

Talking about the future of cryptocurrency in India, the State Finance Minister Anurag Thakur has said in Parliament that he is preparing a bill regarding cryptocurrency and soon it was sent to the Center. Institutions like RBI, SEBI do not have any legal framework to regulate such currency.

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