Bitcoin Price Falls on Friday, Zee News Reports
New Delhi: The price of Bitcoin fell sharply on Friday, as investors took profits after a recent surge in value.
According to Zee News, the world’s largest cryptocurrency fell by over 10% to trade at $19,000 as of 10:00 AM IST. This marks a significant drop from its recent peak of $22,000.
Analysts attribute the decline to a number of factors, including profit-taking by investors, concerns over regulatory scrutiny, and a lack of institutional adoption.
“We saw a lot of speculation and hype surrounding Bitcoin in recent months,” said Nikhil Kamath, co-founder of India’s largest cryptocurrency exchange, CoinSwitch Kuber. “Now, some of that froth is being cleared out.”
Kamath added that the Indian government’s recent announcement of plans to regulate cryptocurrencies has also contributed to the market volatility.
“The uncertainty surrounding the regulatory environment is causing some investors to become cautious,” he said.
Despite the recent dip, analysts remain optimistic about the long-term prospects of Bitcoin. Many believe that the cryptocurrency has the potential to become a global digital currency and a valuable store of value.
“We are still in the early stages of Bitcoin’s adoption,” said Rahul Matthan, founder and CEO of Bangalore-based blockchain startup, Unchained Technologies. “There will be volatility along the way, but I believe that Bitcoin has the potential to revolutionize the way we think about money and finance.”
原创文章，作者：Kevin，如若转载，请注明出处：https://feifeihe.com/2689.html
