Criminal Underworld Dropping Bitcoin for Monero.
Many of us work with Cryptocurrency, whether it's with Steemit or Trading, or with the million's of other websites that use Cryptocurrency's.
Most of these websites use Bitcoin, whether you are using it for buying items on the website or converting one Cryptocurrency to another or trading and even gambling.
The last months have been crazy for Bitcoin almost reaching three hundred thousand Rand per coin.
Besides normal users of Bitcoin like us, there are people that use Bitcoin in a illegally buying guns and drugs even hiring hitmen.
The black market is a huge market around the world, with a market this big it can influence Bitcoin a lot.
But recently we have seen Bitcoin dropping a lot more than usual.
I would say the reason for this is that countries like America, there Government have been picking up on Bitcoin a lot and have found a way to flag it and track it.
This is why it's dropping since they have found a way to flag it and that is the main currency of the black market they are forced to switch to a new currency.
This new currency is called Monero, it has just been found and is already at five thousand Rand per coin.
This new currency is untraceable, and is rising faster than Bitcoin which is crazy.
What will happen to bitcoin
Over all the people that use it legally don't really mind if it can be tracked so I would say Bitcoin will ultimately climb million's still use it.
I would say it will stabilize more and decrease its volatility, once the Black market stop's using it.
My advise is, Invest in Monero now, if this Cryptocurrency blows up in the black market it will skyrocket which it is already doing.
There is only one in competition with Monero, that is Zcash.
Virtually the same thing just different name, but it's also blowing up.
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