Investment is important for everyone, and in India, it holds great significance. Recently, bitcoin has surfaced as one of the most popular investments among Indian investors, which is the primary reason behind the quick growth of the bitcoin market. If you want to make some easy money with bitcoins, crypto superstar is the right platform for you. Bitcoin is a highly volatile cryptocurrency, and despite that, people are keen to invest in it, so there must be something that attracts them so much. You can read below to learn more about the latest trends, updates, and news related to the crypto world.
Bitcoin is a long-term investment
It is irrefutable that bitcoin is a highly volatile cryptocurrency, and the massive fluctuations that have occurred in the market have shaken some of the investors. You need to be brave while investing in crypto as the market can turn upside down at any moment, and it is impossible to predict any price fluctuation beforehand. Currently, bitcoin’s value is around $37000, but it came down after touching the peak figures of $60000. Most investors panicked after the crash of bitcoin and sold all their investments, and exit the market. But according to the experts, as you must not make any decision triggered by short-term price fluctuations. You must hold your investment and focus on the long term if you want to make a profitable bitcoin investment.
The popularity of bitcoins in India is increasing at a rapid pace as there is a massive number of investors putting their money into cryptocurrency. If we believe some reports, there are over one crore crypto investors in India, and the number is continuously growing with each passing day. Numerous domestic crypto exchanges have been opened up in the country, which has brought an increase in the number of crypto investors. Despite some changes in the regulations imposed by the RBI related to crypto investment, no change has been seen in the interest of Indian investors in cryptocurrency.
The crypto market needs to grow in India
Cryptocurrency is quite popular in India, but at a global level, it stands no, whereas Indians own less them 1% of the bitcoins in the world. If the Indian economy doesn’t adopt cryptocurrency, it will surely be left behind other countries and won’t be able to match with modern trends and leave a mark on the global economy. Earlier, the government imposed some restrictions on the use of cryptocurrency no it has realized the importance of crypto, and in 2020, it gave permission to the banks and other financial institutions to facilitate the crypto transaction. It has provided a great boost to the crypto exchange and trading platforms. In March 2020, the Indian government made it clear that all the cryptocurrency windows over the Internet will not be closed. In simple words, users can still buy crypto and make an investment in it. It is a great sign for the crypto investors in India as well as all the crypto trading platforms and exchanges running.
Before you invest in the crypto market, you need to have the proper knowledge and learn all its ins and outs first. You need to do proper research on the underlying value of cryptocurrencies such as Ethereum, Bitcoin, and other crypto assets. If you have been into the stock market, you must know that it is necessary to have a look at the company’s balance sheet, profits, and background before making an investment. The same goes with the crypto world, as you cannot make an investment without any planning and knowledge.
All cryptocurrencies down after the crash of bitcoin
The crypto market is going through its worst times as, after the collapse of bitcoin, other cryptocurrencies also started to tumble down. The downfall of the crypto market as a whole made the investors lose over $830 billion and in less than one week. If we talk about the currency market cap of all cryptocurrencies together, it is around $1.49 trillion. Ethereum and Bitcoin are two of the top cryptocurrencies in the market, and both of them have suffered a huge loss in terms of market value. However, the good news is that bitcoin showed some signs of recovery as it grew from $37000 and reached $30000. On the other hand, its counterpart Ethereum witnessed its biggest fall in a single day since March 2020.