Although there was a sharp fall, the price of the Bitcoin has increased 14 times last year that led to the regulators to take care of dealing with this cryptocurrency. There was huge volatility in the prices of Bitcoin and hence this volatility recovered the currency to $14,200 on the Bitstamp, a digital currency exchange in Luxembourg.
Prices of the Bitcoin have changed wildly. From the $19,666, prices of the bitcoin decreased over 36% and hit $11,159.93. Later, the price of the Bitcoin jumped 13 times and reached to $14,535 on the Bitstamp. Then the price of bitcoin hit $14,619 and then decreased to $13,463.
Following are 5 things to know about dollar vs Bitcoin
- The bitcoin’s price has jumped 19 times and hit $19,000.
- Sebi that is Indian markets regulator would come down seeking the investments of the public with a promise of huge returns from the bitcoins and other cryptocurrencies, amid such schemes in absence of regulatory regime. Bitcoins or other digital currencies like these aren’t the approved products by Reserve Bank of India (RBI).
- According to Press Trust of India, Income Tax Department issues notice to 4 to 5 lakh net worth people in the whole country who do trading on exchanges of the bitcoins. There were 20 lakh entities that were registered and out of this 4 lakh to 5 lakh were “operational” and were indulged in investments as well as transactions.
- During 2017, the journey of the Bitcoin has been so much volatile. The Bitcoin has reached the record high of $19,666 when CME Group released the bitcoin futures; exactly just 1 week after the rival Cboe Global Markets has listed the 1st bitcoin futures in the world. In the last November, it decreased 30% in just 4 days to $5,555 from $7,888. In the September, it decreased 40% to $2,972 from $4,979.
- The central bank of Singapore has issued the warning against the investment in the digital currencies. It said that the recent increase in the prices due to the speculation and hence there are more chances of a sharp decrease in their prices. Financial Supervisory Service of South Korea has told that it actually does not consider the bitcoins and other digital currencies as the actual currencies. Japanese Finance Minister Taro Aso has also said that the bitcoins are not proven to be a credible currency.