Working with cryptocurrency and mining is really a pain something. The charts stats, ups and downs could make our heartbeats ups and down, since the percentage of gain and loss really could make us believe the real power of cryptocurrency which further pulls us to trading and investments. Working with cryptocurrency could be the real pain sometimes, I am talking about those people who trade on these currencies on daily or less than weekly basis, they could become millionaires in a day or could lose all their money in a second.
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The best way of extracting the profit margin of this thing is by investing in the long-term basis, and forgets about the ups and downs, if you believe in this thing then you better trust it. By investing in the long term and using this money little when you need it is the best practice I came across off.
Talking about the markets stats, there is a lot of things going on. The BTC price dropping due to China ICO bans and Regulation laws sticks and makes the markets went crazy, dropping the price from 5000$ to around 2800$ is a lot. Usually, I never see the stats on daily basis and I know that it will surely rise since I was not worried about the present consequence but the future returns. And it happens, the market went up again to around 3700$ (17 September 2017).
Reasons why China Regulations Shut Down Bitcoin Exchanges
Well before proceeding further let’s talk about if it is a good thing or not. It is absolutely a good thing, making laws and regulation is a step to securing the BTC and the cryptocurrencies from future frauds and hacking, which is absolutely a good step, ban on ICOs ensures that the money flow will stay on track and filters the frauds companies which many actually spam and steal money. I do not find a point why people get’s so mad and crazy just because of the news market stats and starts selling their coins. You have to consider on the logic too and make yourself believe that these things not making things worst but eventually enriching the cryptomarket. I hope that every country should make suitable laws on these cryptocurrencies which will minimize the frauds and hacking cases.
Some of the reasons are listed below why regulations should be made!
- Lack of licensing
- Nature of bitcoin
- Market Manipulation & Security Concerns
- Money Frauds & Pyramid Schemes (include MLM)
- Darkweb illegal Transactions
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