The CEO of ripple, 3rd largest crypto currency blockchain network and the one of the most successful cryptocurrency company's CEO said that most of the digital currency coins will drop its value to ZERO in near future .
The reason he said was the most of the coins are being traded just for fun and for trading itself only very few coins are there which have a transactional value . So because of the moves take by government of many countries the rates of most of the cryptocurrency will drop down and will soon come to zero he said by his analysis.
The move involved
- ban of cryptocurrency in India and 10% tax on income from it
- ban of buying cryptocurrency by credit card or high taxes charge on it
- shut down of cryptocurrency exchange in Japan
- etc
So please be cautious before investing in cryptocurrency and study well about it in advance before investing
Thank you