Clash between Fiat & Crypto deepens as World central banks intends to launch new campaign against cryptocurrencies
Crypto currency is under immense pressure after a dream start in 2021. In first four and half months coin like BTC, ETH and BNB achieved all time high worth. At that stage coin was looking to move ahead like bullet train, but things never remain same. Intensive usage of energy during mining process and environmental aspect stopped the first bullet train.
Things started to become more difficult for crypto when Chinese government launched crack down against BTC mining. As a result, 45-50% of capital wiped out from the market. Crypto market which was verge on touching 2,500 Billion USD reduced to 1,300 Billion USD.
Sources revealed that 90% BTC mining in China has been closed. Despite all the tough situation, BTC still managed to sustaint 34,400 USD worth. This reveals the strength of world top coin.
Still, not an easy time for the king of coin as the new challenges are ahead. Now World central bank intends to launch new campaign against crypto currency. World central bank believes that crypto works against the public good. Proving their case, they present an example of king of coin which has reduced 30,000 USD in just 2 months. It sunk billion of dollar of investor. Even things become more difficult for people who trade on margin.
It is too early to say about the outcome of Fiat and Crypto battle but it will be tough one for crypto which are trying for its survival. FUD in the market easily dent the crypto. On the other hand, Holding and more investment will help to strengthen the Crypto. Choice is in investors hands. Let's see what happen next.
Wish you all a very happy, healthy and prosperous life ahead. Have a nice time.
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