Whether Bitcoin is in ‘Bubble Zone’ is still a topic of debate. However, in November 2010, the property worth 1 lakh invested in bitcoin has reached Rs 625 crore in seven years. In the same period, the value of a bitcoin in India has increased from 10 to 6,20,000 crores.
Bitcoin prices in the global markets are only a little over $ 10,000. In November 2010, it traded at $ 0.22, which has now climbed to $ 9,650. That is, the value of Bitcoin has increased by 43,86,264 percent (in dollar terms) in the proposed period. According to BNP Paribas, there are many signs of ‘Bubble’ in the Bitcoin.
The important sign is that people are buying it only because its price is increasing. The limit for issuing bitcoin is 2.1 million, which is expected to be completed in 2040. This is also due to the fact that the cryptocarcinous ‘Bubble Zone’ is in doubt.
At present, the number of Bitcoin is 1.7 crores. According to experts, if more people adopt Bitcoin, its value is expected to increase further. Because the supply of these cryptocarquees is limited. Due to limited supply, there is a lot of speculation in the currency. According to report, the bubble does not mean that it will soon explode. Bubble depends on many factors.
We have seen the Dotcom bubble bursting earlier, but due to which the capital shifted to the sector, Amazon and Google have been created today. According to our report, 70 percent or more mining is done in China. Cheap electricity is one of the main reasons.