Virtual currency bitcoin is trading at its highest level against the US dollar. In such a situation, investors are raising the question whether it would be right to invest in bitcoin at this time? Even before this, bitcoin has been in the discussions. Bitcoin is a virtual currency. Which cannot be seen. That is why it is called virtual currency. Let us know for information that there is no single owner of bitcoin. It is not controlled by any government bank or governments of the world.
The future of Bitcoin also looks good because big companies like Microsoft have started transactions through it. On Microsoft’s platform you can buy any product from bitcoin. However, bitcoin is seen to have very high volatility. Because of which there is always a fear among investors about this virtual currency.
Will bitcoin go up against the dollar?
The biggest question that investors are raising right now is whether bitcoin is going to go up against the dollar even more? Let me tell you for information, at the moment bitcoin is trading at its highest level in the stock markets. Bitcoin has broken all its previous records.
At the moment the price of one bitcoin has reached US $ 23000. Which can be called 1700000 rupees in rupees.
At present, the stock markets around the world have created a disruption due to the corona virus. Meanwhile, bitcoin has shown a rise of over 170%. Demand for bitcoin has been steadily increasing in the form of investment in the upheaval in the stock markets. People’s trust from the stock markets is steadily declining. And this is the advantage of virtual currency bitcoins. If there is no good news about the corona virus in the coming time, then bitcoin may go up further in the coming days. This is a very good sign for investors. Investors are getting rich these days from bitcoin.
Bitcoin may prove to be even more golden for investors in the coming days. Because big companies like Starbucks and Microsoft have started accepting bitcoins as transactions. In such a situation, investors are hoping that in the coming days, bitcoin can achieve a breakthrough of $ 30000 against the dollar. And if that happens, bitcoin will move around 200%. Which will be its highest level ever.
Can Bitcoin be hacked?
You must have seen a lot of frauds in countries around the world and hacking banks. But this is not the case with bitcoin virtual currency. It is almost 100% safe. The special thing about bitcoin is that it is fully encrypted. And works as a blockchain. Hacking the blockchain is never easy for hackers.
Experts say that it is almost impossible to hack the blockchain or bitcoin. However, bitcoin lying in the wallet can be hacked. A lot of news keeps coming in the media when it has been said that bitcoins kept in the wallet have been hacked.
However, if you keep the password of your wallet strong and keep a password of more than 15 characters for your bitcoin wallet, then it will be impossible to hack it. You should create your bitcoin wallet password using small, special and special characters. You do not choose any common password. This will make your bitcoin wallet even more secure.
In such a situation, it can be said that bitcoin is a safe currency in the case of hacking. Recently there was news that China has started a virtual currency of its own. Which is called yuan. However, it is still in its initial stage.
Talking about India, earlier the Reserve Bank of India had banned transactions with Bitcoin or any cryptocurrency. However, in the year 2020, the Supreme Court allowed the transaction. In this way you can trade in cryptocurrencies in India. And it is completely safe.
Another advantage of cryptocurrency like bitcoin is that it gives you quicker and higher returns. However, cryptocurrencies like bitcoin also have huge fluctuations. As well as online shopping, cryptocurrency like bitcoin remains easy.
Bitcoin remains very volatile
Bitcoin is an expensive currency. Currently one bitcoin costs around US $ 23000. In such a situation, if bitcoin goes down a little bit, then crores of rupees of investors are drowned. If we look at the history of bitcoin, there have been many ups and downs in it. There have also been times in bitcoin that bitcoin fell by 50 to 60% in a single night. In such a situation, before investing in bitcoin, you must take the opinion of experts. However, now it is seen that bitcoin is giving good returns to its investors in the form of cryptocurrencies.
The biggest decline in bitcoin so far was seen in April 2013. Bitcoin was then down by about 60% in a single night. There was a concern about Bitcoin in the US stock market Wall Street. But still trading in bitcoin continues there.
There are some things about Bitcoin that need to be known. Bitcoin is a virtual currency and that makes it dangerous. There is no guarantee of virtual currency and it is not issued by any government or regulatory body. No government in the world has control over it. No government in the world can give you a guarantee of price on bitcoin. It depends entirely on the transaction and demand, how much will bitcoin cost? Because of this it has been seen many times that investors have also suffered heavy losses in bitcoin.