Bitcoin currency has recently come into the limelight as the value of the currency has skyrocketed to record highs. As a result many people are leaning towards buying this Bitcoin. However, many experts are warning about this.
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Regarding the reason for the recent increase in the price, he said, "A few days ago, its price was 1,000 dollars. Before that, it was 100 dollars. Within a year, the price went from 100 to 1,000 dollars. Then, within a few months, its price went up to 19,000 dollars. It is rational. not behavior”.
He said that now many people are investing in it for more money. In such cases, if these people suddenly withdraw from the market, many will be in danger.
"That's our fear," the economist warned. "Since there is no authority, there is no room for more supply of money. So there is no mechanism to control when it collapses or goes up."
He said, the central bank of Bangladesh is saying not to invest in Bitcoin. It is not an authorized currency. It is not worth investing in it.
The only thing that poses a real threat, to the country, is the loss of control of citizens' incomes, and the difficulty of "getting into their pockets, by a caring government".
The only thing they are right about is that the volatility of cryptocurrency, can not only generate additional income, but also the loss of assets invested in cryptocurrency ! Citizens of the country should be informed about this, familiarized with the risks, and take the risks on themselves, so that then do not run and do not demand from the state to save them from their own ill-considered steps. Cryptocurrency is not a fraudulent scheme, but it is a specific market, with the possibility of manipulation and speculation, and this should be taken into account if you want to "make money on crypto"