Cryptocurrency has become a global phenomenon now a day,however We are still in the learning phase and implementing process in many ways.
The first name that comes to everyone's mind is Bitcoin when we talk about digital currency.
Bitcoin is the one of the only digital currency that has received global attention and adoption from 2008. Any bank does not govern this decentralized digital currency, means that it can be sent from one person to another without any third party involvement.
Let's understand about Bitcoin before we jump in details of price predication and future of the Bitcoin and digital currency War.
This cryptocurrency was introduced back in 2008-09 by an unknown person name Satoshi Nakamoto(Japanese Name) who developed this cryptocurrency on a new platform called the blockchain.The domain name "bitcoin.org" was registered on 18 August 2008.
The price of bitcoins has gone through cycles of appreciation almost 40k$ and depreciation referred to by some as bubbles and busts.
Otherside, China wants to introduce a digital yuan currency in 2022 called e-RMB.Pilot programs have so far been launched in four cities and at 2022 Winter Olympics venues in the country. People going to China in 2022 will have to buy or transact in this new digital currency as of now all the government employees' salaries will be in ERMB so they are moving on fast track to launch new e-RMB.
Last year Facebook annouced their new Cryptocurrencies "Libra" however Libra suffered hard when PayPal, eBay,Vodafone, Mastercard distanced themselves from the controversial project. now Libra become "DIEM' new name. The independent organization that runs the project, the Libra Association, will now be known as the Diem Association, and Bloomberg reports that its currency will be called the Diem Dollar.
With virtual currencies gaining hype India also planning to come up their own digital currency according to the news executive chairman Sudarshan Sen had said our government might launch the country’s own digital currency called “LAKSHMI” or Cryptocurrency lakshmi. as the central bank is not comfortable with non-fiat cryptocurrencies like the Bitcoin.
Amid all the controversies, Bitcoin has maintained its value and respect in the global market as it is still being used for sending payments and for trading purposes. What do you think about the future of Bitcoin? Is it good to invest now?
