Yesterday i was talking about the steem dollars rising super fast and hitting the road to wanting to trade at about USD12 by February month end.
Today i am talking about the cryptocurrency as a whole and i want to single out the bitcoin, so will base more on the bitcoin cryptocurrency.
We all know by now that south korea had anounced that they were going to ban bitcoin trading which led to the world seeing the bitcoin plunging because of the concerns of the bitcoin community. This however, did not only affect the bitcoin digital currency but even other digital currencies were affected. This saw bitcoin stabilising last week before it plunged again.
The bitcoin cryptocurrency hit the high record by mid december 2017 as it past USD19,850 before it tumbled. When the tumbling came it was so rapid such that within days, it tumbled to below USD12000. AS we speak now the bitcoin is trading at USD 11,224.43 according to coindesk.
After the tumbling of bitcoin, when it started rising again. It made other cryptocurrencies to start rising too.
INVESTORS' ADVISE
If you are an investor in these digital currency, i advise that cautiousness should be exercised to its uppermost in order that you don't make any loss. The south Korea has announced the plan that no one should trade bitcoins and any other cryptocurrencies after 30th of January 2018.
AUTHORITIES' ADVISE
My advise to the authorities is that bitcoin/digital currencies should not be banned but rather they should see it as an opportunity to be able to realise revenue for the nations. Authorities should now invest into studying and finding ways to be able to tax the crypto currencies. This is the best currency for the future.
Thanking you all.
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