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Watch Out: It Might Be A Time to Invest in Bitcoin and Cryptocurrency

Bitcoin is dropping its value and in the last 24 hours it dropped more than 50%.  It dives as low as $9,199.59 Wednesday morning, according to CoinDesk.  About $30 billion in value was lost over the last 24 hours.  It might be a down hill tend but also this might be the right time to invest in Bitcoin and other cryptocurrencies.

Why invest now in Cryptocurrencies?

If you will watch the trend on the market, this is very natural.  The trend forecasts a deep dive and then it will soon begin to go upward once again.  If you plan to invest you must wait for the deep dive that it will go and then invest at that point. Other crytocurrencies Etherium and Ripple which follows Bitcoin also dropped to $885 and $1.02 a coin respectively.

As these digital currencies becomes more affordable, it might be the right time to think about investment.  As I have mentioned before in a previous article, I warned everyone about investing in cryptocurrency.  I wrote it because the current value in the market was too high - $17,000 at the time.

Related ArticleShould I Invest in Bitcoin or Cryptocurrency?

What's Causing the Drop in Value of Cryptocurrencies?

Digital currency is slowly making an impact and government regulatory bodies around the world are slowly acting to regulate it.  This means that countries will begin consideration of accepting it.  As the currencies become accepted it will mean that it will become more in circulation thus more people and businesses will use it.

South Korea.  South Korea's Finance Minister, Kim Dong-yeon made a statement that the country is thinking of shutting down crypto exchanges. Since this country is the biggest market for the digital currency clamping down on virtual currency trading last week made a great impact.

China. A deepened crackdown on the virtual currency market is being done.  According to reports the Chinese government plans to block domestic access to Chinese and offshore cryptocurrency platforms that allow centralized trading.  Regulation is also under way for people and companies that provides market-making, settlement and clearing services for centralized trading.

United States.  exas State Securities Board issued a cease-and-desist order to U.K.-based BitConnect.  The company is now shutting down due to several factors specifically pressure from regulators in Texas and North Carolina.

Bitcoin in the Philippines

Bitcoin vs Philippine Peso January 18, 2017 4:30AM

Bitcoin vs Philippine Peso January 18, 2017 4:40AM

Bitcoin in the Philippines is currently trading around Php500,000+ is to 1 Bitcoin.  This is still high since the overall dollar value is still high.  As soon as the price of Bitcoin drops then this value will also drop.

We are predicting a drop to around US$100 - US$200 to 1 Bitcoin, this means that you need to invest around Php5,000 to Php10,000+ per Bitcoin.  Alternatively you can invest in other cryptocurrencies which are more secure and less volatile.

Currently around $6 million in value is being traded in the Philippines.  This is a lot of increase from $2 million to $3 million a few years ago.  BSP deputy director Melchor Plabasan says in an interview on ANC's On the Money that the Philippine Central Bank is now drafting rules for it.

"The main objective is to balance the interests of harnessing innovation, at the same time, managing attendant risks," Plabasan said of the central bank circular released in February, the first of its kind in Asia.

Share us your ideas, comment and advises about Bitcoin and cryptocurrency.  I might invest as well soon.


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