Keep or Sell: What should cryptocurrency investors do in the face of uncertainty?
"What should cryptocurrency investors do in the face of uncertainty".
What should cryptocurrency investors do in the face of uncertainty
Bitcoin is the oldest to be launched in 2009. The cryptocurrency reached $ 1 in 2011 and 10 years later in 2021, it has given investors a compound annual growth rate of more than 195% in the last 10 years.
However, with the introduction of the Official Digital Currency Bill and the Cryptocurrency Bill 2021 in Parliament in the current budget session, cryptocurrency investors in India are in doubt as to whether to retain their cryptocurrency assets or cancel their holdings.
Because some time ago, the Reserve Bank of India banned crypto transactions in India. But this decision was later overturned by the Supreme Court of India. Now one of the fears among investors is that the new bill that will be made will again bring in legislation to ban it.
They said that in the case of explicit restrictions, investors would not be able to use any bank account in India to deposit the money sold after a search of the cryptocurrency. The acceptability of cryptocurrencies is increasing with the acceptance of various organizations like Tesla, MasterCard, PayPal etc.
However, it is doubtful whether any ban will be imposed in the bill. According to a recent survey - A survey called Bitcoin on Bitcoin Sent, conducted by Delaide.Org.Ease, found that about 60.2% of consumers surveyed said they would prefer more companies, such as Amazon, to accept Bitcoin as a payment method.
The survey also revealed that 50.5% of consumers are willing to pay for products and services with Bitcoin. But on the other hand again Etherium and Days are the most popular alternatives to Bitcoin as a payment method in America.
Nishal Shetty, CEO of WazirX, said that compared to the United States and other countries, India's institutional participation in crypto is low due to regulatory uncertainty.
There is no crypto control in India yet. Buying Bitcoin in India is perfectly legal, there is no law prohibiting Indians from buying or selling cryptocurrencies in India. Sethi says, there is no reason for users to panic right now.