Hello, Steemit Community!
I know we've been hearing good news about cryptocurrencies skyrocketing recently - may it be bitcoin, ethereum, steem, or SBD - and we're celebrating! The sudden movement might be due to the declaration of Bitcoin as halal and compliant with the Shariah Law. Islamic banking is different, wherein there are a lot more rules that apply to profit sharing, safekeeping, leasing, and more.
"bitcoin qualifies as Islamic money, except where it is banned by a local government."Despite being technically "banned" by some local Muslim governments, this still opens an opportunity for an additional of up to 1.8 Billion people to buy and transact with Bitcoin - especially to places where it remains legal to buy and sell bitcoins such as Indonesia, which also has a significant Muslim population. Due to the sudden growth, I created a haiku about cryptocurrency which can be read below:
-- Blossom Finance, Indonesia
Skyrockets
been so low for so long;
but like skyrockets, we rose
ever so quickly.`
Although some experts analyse the sudden rise, which they called The Elevator, is just a bounce or a trap towards a lower low for the month of April, I am still positive that the cryptocurrency will rise further. This is because there are some experts that have been predicting for a few months now telling that bitcoin (and so other crypto coins there are) will spike to a rise after the US Tax Day.
However, if bitcoin and other cryptocurrency will indeed really crash, there's no panicking. That only means that we can buy Bitcoin at really low prices! Happy trading, folks!
Bye for now,
