Cryptocurrency's Nightmare

about 1 month ago

In the cryptocurrency space, a lot is happening; this is nation's orientated. Each country with policy that guides the use of crypto currency. The acceptability of it by the citizens and the government approaches towards cryptocurrency adoption and its place in the economy.

It is no longer news that the government of each country is looking for a way to regulate and control the use of cryptocurrency. In the US for example there are limits to the amount of cryptocurrency you can buy on a single transaction. I think this is a good measure to regulate and help people who could be a victim of fraud. Many of these people who are buying this cryptocurrency in most cases aren't the ones using it. Some only buy to pay a fee. It is not that they are investing in the cryptocurrency they buy. This is not to say that people who buy cryptocurrency aren't investing.

Take Nigeria for instance, its government's effort to crack down on cryptocurrency is very intense. I can't say, they aren't doing the right things but the government and its agencies can't be trusted. They want to control everything controllable. Since they don't know how many users on cryptocurrency platforms have and the fact that they aren't paying taxes. However, there is no crime in the government regulating the activities of users on the cryptocurrency platform as long ulterior motive behind it.

Who knows if the effect of this issue is what contributed to the sudden drop in the price of cryptocurrencHoweverough, we all could agree that the price of cryptocurrency is bound to reset once it gets to a particular resistance. For about a couple of days ago BTC has witnessed a lot of downward trends and it continues. Only God knows when the price could move towards an upward expansion I hope it will be soon before we reach the important event which is the BTC halving. I think that whatever momentum BTC gathers before the halving is important to the price in the latter days. I must say that we should take profits whenever the price surges.

No one can 100 per cent predict the actual trend of the cryptocurrency which is why investors or traders have to be very careful about taking a profit at altimesttovoid loss of fortune.