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Will crypto be banned in india: For crypto Bill to be introduced in India

 Crypto market crash in india for crypto Bill to be introduced in India

why is crypto market crashing

Will crypto be banned in india

why crypto market crash today

Bitcoin is a digital currency also known as a cryptocurrency. Bitcoin can only be used online. The gains that investors had made from the cryptocurrency market for the past few weeks were sunk in a single day.

precious currencies like Ethereum also saw a decline of more than 13 percent. On the other hand, apart from Dogecoin, many cryptocurrencies around the world crashed.

In fact, the decline in bitcoin started coming from Tuesday when El Salvador became the first country to adopt bitcoin as a legal tender, after which protests started in the country.

At the same time, the biggest reason was that the government of El Salvador temporarily unplugged a digital wallet to deal with the demand for bitcoin.

why is crypto market crashing

Wednesday is proving to be no less than Black Friday for those investing in cryptocurrencies. The crypto market, which has seen a decline for the last two days, has suddenly seen a tremendous decline this evening and many big and popular crypto coins including Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Shiba Inu (SHIB) are on their heads. have fallen. Cryptocurrency investors had high hopes for the rise of Dogecoin, but till the time of writing the news, the price of Dogecoin was seen around Rs 28. Not only this, the price of Bitcoin (Bitcoin Price in India) till writing the news was around Rs 23 lakh and the price of Ethereum was around Rs 1.42 lakh.

 There was news from China that the Chinese government has banned financial institutions and payment companies from providing services related to cryptocurrency transactions and warned investors against crypto trading.

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Apart from this, recently Elon Musk, the second richest man in the world, also created a lot of confusion in the market through his tweet. Musk first announced by tweeting that his electric car maker Tesla would take bitcoin as payment, and less than a week later, he made a U-turn from the decision, tweeting that the company is no longer bitcoin due to environmental impact. Will take He then teamed up with Dogecoin creators to make the Energy architecture better and more efficient, leading to investor interest in Dogecoin. Similarly, investors' dilemma increased with Allen's tweet after tweet and somewhere this could be one of the many reasons for the crash of such a market today.

will crypto market crash


According to experts, the outbreak of the new Omicron variant of Kovid-19, which is increasing worldwide, can be considered as a major reason for this. Its effect is already visible on the stock markets around the world and now its shadow is visible on the crypto market as well.

reason behind crypto market crash

to be introduced in India

Let us tell you that the bill regarding cryptocurrency is going to be introduced in India soon. According to the reports released in this regard, the bill can be introduced by the government next week during the ongoing winter session of Parliament. This bill is being brought with the aim of managing private cryptocurrencies. There have also been indications that private cryptocurrencies may be banned in the country.

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