Cryptocurrency is no longer worth a penny..!?

Sowmiya Sriram
Cryptocurrency is no longer worth a penny..!?

Many investors think that investing in cryptocurrency should not lead to a gradual decline in the value of cryptocurrency, which was once said to be highly profitable. But the luna cryptocurrency, which plummeted, fell to $ 0.01 in the tenth month. Thus, those who invested in it had to go head to head with the whole thing. From the beginning, economists in india have been saying that cryptocurrency is an illegal investment. They also said that do not believe the false claims that you will get 500% and 1000% by investing in it.
But due to the huge profits, the number of people investing in cryptocurrency in india also increased. Similarly, the number of crypto exchange companies in india began to increase. It was at this point that the government of india suddenly suggested regulating cryptocurrency. The bill on cryptocurrency was tabled at the winter session last year. The bill is expected to pass soon.
And when the Union Budget was tabled last February, the value of cryptocurrency in india began to plummet after Union Finance minister Nirmala Sitharaman reported that the remaining 30% of cryptocurrency profits would be taxed at one percent TDS per transaction. Not only that, the cryptocurrency trade in india fell sharply as the value of the dollar against the indian rupee began to appreciate.
In this context, Christine Lagarde, President of the european Central Bank, said in a recent interview that cryptocurrency is worthless. Christine Lagarde, who has been opposed to cryptocurrency since its inception, said there was no information on what cryptocurrency was based on and that it was unreliable and should therefore be stopped or contained by governments in all countries of the world.
She said that one should not invest in a system that has no rules and that while it may seem like a good return, in the beginning, it will be very disappointing later.
Christine Lagarde, who also spoke to college students, said that cryptocurrency is just a speculative investment and a very risky investment, so young people should not invest in cryptocurrency.
Overall, economists advise investors that any investment that returns more than 10 to 20 percent a year will face the biggest downturn in the future.
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