InvestorQ : What does it mean that Bitcoin has touched a level of $10,000 once again? How do you rate that as an investment?
Dia Deshpande made post

What does it mean that Bitcoin has touched a level of $10,000 once again? How do you rate that as an investment?

Answer
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Diya Chitale answered.
7 months ago


Bitcoin touched $10,000 on Feb. 9th, 2020, recording the highest level in the year after October 2019.

On Sunday, the cryptocurrency marked the third such major breakout in its history. Earlier in the year 2017, the price rose nearly to $20,000.


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Ria Jain answered.
7 months ago


Bitcoin has been an extremely volatile form of currency in the last few years. For example, the currency was quoting at less than $1 in 2009 and from that point it has gone all the way to $20,000 by end of 2017. Subsequently, the Bitcoin value fell all the way down to $3400 post which it stabilized and has bounced again. Here is a short word of caution for you. Such currencies based on blockchain (like Bitcoin) are not too favourably viewed by RBI and it has already asked all the RBI regulated entities like banks, financial institutions and NBFCs to desist from dealing in Bitcoins. While it has not been declared as illegal, you need to be cautious about taking any positions in Bitcoins, whilst you are in India.