Central Bank of India has warned investors not to place money on Bitcoin, despite the currency surging nearly 50 percent in value over the past five days(from 9th December)

The central bank said: “In the wake of a significant spurt in the valuation of many virtual currencies and rapid growth in Initial Coin Offerings, the Reserve Bank of India reiterates the concerns.”

Main reason is: Bitcoin is very volatile

The problem with cryptocurrency is that its price is very unpredictable. Today the price is high the yesterday it was down. Due to this investors are scared to invest because they cannot predict how the market will behave. Even with Bitcoin having been working well you cannot still term it stable.

Here are some of the reasons why people are afraid of investing in Bitcoin

  • It’s not regulated
  • Many investors have not yet understood Bitcoin
  • Bitcoin is not yet mainstream
  • Nobody knows who has created the Bitcoin

Bitcoin Seems Hard to buy

Bolbhai

Bolbhai

I have been a developer for last five years working experience in different technology, apart from this I loved traveling, blogging and exploring the crypto world.

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