Breaking a three-month stagnation, Bitcoin surged back above $50,000 on Monday for the first time and reached a day라이브 바카라 high of $50,152.24. It was trading between $30,000 and $40,000 since mid-May before shooting up by 2.5%바카라 웹사이트today. Bitcoin had plunged in May after touching the record high of바카라 웹사이트 $65,000 in mid-April.바카라 웹사이트바카라 웹사이트바카라 웹사이트
Nischal Shetty, founder and CEO of crypto-exchange WazirX said $50,000 is a psychological number for Bitcoin.
The crypto community is elated to see this mark being breached and cautioned investors to see if this price level holds or will it drop back. He added that Global crypto adoption has been increasing every month. This naturally has put pressure on the supply of Bitcoin leading to the price rise.바카라 웹사이트
Ashish Singhal, Founder and CEO of crypto exchange Coin Switch Kuber termed the surge as an indication of retail and institutional investors being bullish on the asset for the past year.바카라 웹사이트
“Chainalysis recently reported that India ranks second in the world for cryptocurrency adoption. There is an increasing awareness about Bitcoin and other cryptocurrencies among Indians, with people from tier-II and tier-III cities driving adoption. This mass adoption spells a positive outlook for Bitcoin prices,” said Singhal.바카라 웹사이트바카라 웹사이트
Avinash Shekhar, Co-CEO of ZebPay, said, “We recommend Rupee-Cost-Average (RCA) into crypto assets as a long-term investment strategy.바카라 웹사이트
Using RCA, investors can get an average entry price for the asset and get better returns in the long run. SIPs are one way to do this and we have launched a new product, ZEBB to promote this long-term investment strategy. Anyone can start an SIP in Bitcoin or Ether on ZEBB starting with just Rs100.”바카라 웹사이트
Shekhar said, “The current market surge was expected by firm believers of this technology asset class after the temporary sell-off which was a short-lived FUD in the market. BTC has absorbed pretty much all the negative news over the last quarter and yet, hasn’t dampened the impact on the institutional influx of money into this technology giving out a clear message on the strong fundamental value the asset poses.”바카라 웹사이트
He added Bitcoin is fundamentally a very strong asset with a reliable foreseen future. The recent sell-off was a temporary uncertainty faced on accounts of the negative news in the market pertaining to some respective country라이브 바카라 stance on the mining aspect of the asset. Bitcoin has just picked the growth path to its base of strong fundamentals again where all types of investors from retail to institutions have shown immense interest and vision.바카라 웹사이트
According to Global Crypto Adoption Index, the crypto adoption worldwide grew by 880% between바카라 웹사이트June 2020바카라 웹사이트and바카라 웹사이트July 2021. India ranks second in terms of crypto adoption worldwide behind Vietnam but ahead of developed nations like the US and the UK.바카라 웹사이트
The market experts believe total value of cryptocurrencies was at $2.17 trillion on바카라 웹사이트Sunday바카라 웹사이트and the rally has been supported by cryptos like Cardano, Binance Coins, Dogecoin and Solana.바카라 웹사이트
Singhal said, “The volatility in the cryptocurrency market is characteristic of a market that is still in its nascent stages. So, it is better for investors to invest in small amounts that might garner great returns but can also bear risks. Investing a particular amount regularly and in a disciplined way for the long-term can build wealth for the investors.”바카라 웹사이트
Notably the plunge in cryptocurrency has arrived with last week, Indian finance minister Nirmala Sitharaman라이브 바카라 announcement that the Bill on Cyrptocurrency in India is complete and awaits the Union Cabinet nod.바카라 웹사이트
Nischal바카라 웹사이트added that the crypto ecosystem in India needs positive regulations. Guidelines on what crypto startups should adopt such as KYC, AML, Customer Support and more, would be helpful.바카라 웹사이트
Similarly, Singhal added “the Indian cryptocurrency industry that will foster not just cryptocurrency space but also the technologies, like blockchain, associated with it, creating a significant spot for India on the map of global technology leaders. The regulations will bring certainty for interested investors who have been hesitant so far due to the lack of clear regulations and encourage more cryptocurrency adoption in the country."
