The people who have invested in Cryptocurrencies were panicking a little bit a few days ago as the government is regulating Cryptocurrencies. The falling down of the prices of Bitcoin along with Solana and other Cryptocurrencies is a major reason behind the panicking of people as they have invested a huge amount of money in it and if its prices continuously falls down like this then there will be no scope for the people to get their money back.
Effect Of Initial Ripple Effect
On Thursday 25th November the prices of Bitcoin has slightly raised up because after the initial ripple effect the market began to stabilize.
Government’s Decision On Bitcoin
The government authorities of India have planned to ban Cryptocurrencies in India as the people of India have invested a huge amount of money in it. And if people continue to invest in it like this then it will probably result in the withdrawal of banking authorities.
The Trading Rate Of Bitcoin
The crypto trading website WazirX showed that in the Indian market the Bitcoin was trading at Rs 43,69,008 which was a little bit up from the highest Bitcoin trading record that was 34,00,000 the trading rate of Bitcoin in India has declined up to 20% as the panicked investors began to set their assets.
Probably it can be said that the major reason behind the falling down of Cryptocurrencies is the panicked condition of the investors.
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