Bitcoin which is one of the most popular cryptocurrency in the world, was seen crumbling as the Tesla Motors CEO Elon Musk tweeted that they might sell their cryptocurrency. Cryptocurrencies are basically the electronic currencies which are part of blockchain technology.
Elon Musk before three months brought Bitcoin of 1.5 Billion Dollar and said that Tesla will now accept the payment in the Bitcoin too. He tweeted this tweets from his twitter handle and after this the Bitcoin price touched new height. At that time it was noted that Elon Musk was able to influence the price of Cryptocurrency.
But in past few weeks he was promoting Dogecoin and hence its value to increased. But from the last few days the cryptocurrency market is going down and we are able to see the decline of many coins. Every coin’s value has decreased and no body knows why it is happening.
From here you can see that there is overall negative growth in the market. Even many coins value are decreasing and it might decrease in the future as well it is not happening for the first time in the history but it has occurred in the past as well. Now let me just explain this thing. It was happened in 2017-2018.
Look at the bitcoin price which was around 20000 US Dollars in the 2017 and after that it starts declining and even it reached to 3500 US Dollar in February 2019. But after 2 years it reached to nearly 51000 US Dollars in February 2021.
Even you look at the other coins you will observe the same trend hence we are not suppose to worry about it you are suppose to keep trading as this things come for investors.
All this datas are collected from Coinmarketcap , we are using this as a study to explain that the future of cryptocurrency is bright and we are supposed to keep trading. If you wan to trade with zero rupee fees then you can use this link https://coinswitch.co/in/refer?tag=FKTj to trade in crypto.
We hope that you understood that this crash too will e fixed in the future. Don’t loose hope.