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What Is the Ultimate Future for Bitcoin? [2022]

What Is the Ultimate Future for Bitcoin? [2021-2022]

    What is The Future of Bitcoin in 2022

    Friends, you must have heard the name of bitcoin for some time now or even in the present. The term digital currency or cryptocurrency has been in the news a lot for some time now. Perhaps you have also read about Bitcoin, dogecoin in an article. In fact, the most important cryptocurrency in the world right now is bitcoin.

    You must have heard both good and bad things about bitcoin. Today in this article we will talk about bitcoin. Know what is bitcoin, how it works and most importantly what is the future of bitcoin in 2022?

    What is Bitcoin?

    You must have heard so much about bitcoin that it is a virtual or digital currency. You must have also heard it by the name of CryptoKitties. Digital currency is used through blockchain software, these digital currency are encrypted, hence they are called cryptocurrencies.

    Trying to understand better, currencies in countries around the world are controlled by the country's central banks but this is not the case with cryptocurrencies, its control is collectively in the hands of the people who buy and sell it. It can be used in direct transactions without any government or bank coming in between.

    Meaning it is money on the internet, it cannot be taken out of the internet, it does not have a physical form like other currencies. Cryptocurrency is virtual or digital money in the form of tokens or digital "coins". Cryptocurrencies are designed to be free from government regulations and controls, hence also called decentralized currency.

    The price of bitcoin fluctuates continuously, if you check on the internet now, the price of one bitcoin is more than 240000, some experts believe that it can increase from 24 lakhs to 70-75 lakhs. You must have also seen ads for investments in bitcoin. Investing in Bitcoin can be quite beneficial.

    Future of Bitcoin

    On 29 November 2021, a statement on Bitcoin was issued by the Indian Finance Ministry, this statement was in response to a question asked on the winter session of the Lok Sabha, on which the Finance Minister of India, Smt. Nirmala Sitharaman, said that the Government of India has yet to accept Bitcoin. India has no idea of   recognizing it as a digital currency.

    But the Indian government is currently preparing to make laws for the regulation of Bitcoin. After this news, the price of bitcoin in the world started falling very fast because the largest investor of bitcoin is in India, today more than 100 million people are investing in bitcoin in India. After this news, there was some panic in the bitcoin market.

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    The price of bitcoin is going to increase rapidly in 2022, the Indian government is preparing to introduce new bills to regulate digital currency, due to which bitcoin can be recognized in India and its value will increase even more rapidly. And people would like to invest more in it.

    Bitcoin is a digital currency and crypto currency right now their trend is growing very fast, the future of bitcoin is going to be very good by 2022 bitcoin investor Tim Draper said during CNBC interview that the price of 1 bitcoin at the end of 2022 And in the beginning of 2023, it may be close to  $250000 i.e. about one crore 86 lakh in Indian rupees.

    This is because many countries are currently thinking of recognizing crypto currency as a legal currency, mostly developing countries are doing so.

    In our country too, the trend of youth towards investing in crypto currency is increasing very fast. In our country today, with the help of many applications, youth invest in crypto currency such as Coin switch kuber, WazirX, CoinDC

    Bitcoin is not controlled by anyone, it can be used by anyone if possessed, and this is the reason why the governments of most countries either consider them illegal or try to control them in some form or the other.

    Talking about it in the big countries of the world, there is nothing like any legal law regarding its use in countries like India, America and China, that is why it is also called unregulated. At the same time, some other countries like America's country El Salvador have legally stamped its use.

    In India, there is no government guideline or rules and regulations regarding bitcoin or even cryptocurrency in India. The Government of India can introduce a bill regarding its monitoring in the next session of Parliament. The situation regarding bitcoin and cryptocurrency in India is not yet clear.

    There is also a view that the Indian government is thinking of banning cryptocurrencies and bitcoin. The government has been advised by RBI (Reserve Bank of India) to create a digital rupee of its own. Cryptocurrency and bitcoin are not completely legal in India, the government has made trading difficult for cryptocurrency traders.

    Governments believe that the danger with cryptocurrencies is that cryptocurrencies will be used for money laundering and they will be used by smugglers and terrorists and the authorities will not be able to do anything in this.

    That is why it is also advised to ban cryptocurrencies in India, but according to the ministry concerned, virtual currencies will only be regulated so that they can be controlled,those.

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