Bitcoin Down – A Losing Game or A Financial Stabilization?
Bitcoin synonymous to the phenomenal wonder in the cryptocurrency world has been seeing a down since the past 48 days now. It is no wonder in-fact that bitcoin is now shedding its financial Value Bit- by-Bit (pun intended).
Where many people and experts are showing a ‘surprised’ response – the drop is a natural in the world of finance, be it Stock Trading, Cotton Exchange or Trading concerns and exchanges globally. One minor factor may be that Bitcoin also became the choicest currency for criminals and technology abusers.
Back to the trading game; a simple formula of letting a new stock surge till the few who matter makes the real dough (slang intended) from that particular time-frame when it is rising and being raised in value only later to sell the shares and bring it down to a critical point and then recovering its market actual status standards in VALUE. Thus , Value of a commodity is set. Enough said because the Bitcoin as we expect will still drop to finally raise and stabilize. Like paper-money imagine that it is connected to the Gold reserves of the region or the asset Value of corporation running the commodity.
As of now, according to CoinDesk, Bitcoin is trading at a dangling $6,222/- (do the math for Pakistani Rupee-you won’t be happy if you invested in Bitcoin). Let us not talk about what went on yesterday and day before – you were already counting your profit or losses online.
The latest is that THE Bitcoin is dropping and that the Financial Crash Game has begun. Many people do not sell off in a hurry but wait and see how the market ultimately stabilizes.
Let us know what is your take in Pakistan about Bitcoin and its related Exchanges.