Bitcoin prices fall are going to rise again this week by the dint of a possible meeting of the US government committee providing clarity on regulations surrounding the cryptocurrency madness. Many investors right now are dubious of the industry, due to lack of oversight.
(Bitcoin ke bhao phirse bhadne waale hai. Abhi tak koi pakki khabar toh nahi hai lekin surkhiyon ko mane toh USA sarkar ki committee ki jaldi hi hone waale meeting main Bitcoin aur iske jaise dusre crytocurrrency ki popularity ko nazar main rakhte huye inke vyaapar par Kuch sakt niyamo ka khulasa karne wale hai. Phil haal Cryptocurrency ke investors main kafi dubhidhaye nazar arahi hai.)
Bitcoin has had a tough start to the year, with drop of prices to a two month low on Friday, falling as low as $7,700. However, the cryptocurrency prices will rise much higher with a meeting this week of the US Senate Banking Committee on the regulation of cryptocurrencies in the country, as confirmed by Brian Kelly, the CEO of an investment firm focused on digital currencies.
Kelly while speaking to CNBC said: “Next week we’ve got a big event here in the US, we’ve talked a lot about the regulatory pressures that have come from South Korea and from China and other places.But we’ve got something coming up in the US that I think could be a big event for us.So on February 6th, the Senate Banking Committee is having a meeting and they’re going to be talking about what the regulatory oversight role of the SEC and the CFTC should be when it comes to cryptocurrencies and virtual currencies.”
The Securities and Exchange Commission (SEC) is an independent agency of the US government which regulates the securities industry and stock and options exchanges. The Commodity Futures Trading Commission (CFTC) regulates futures and options markets.
Kelly continued: “The bullish part of this is it could give some regulatory clarity. One of the biggest problems we’ve had in this market is institutional investors don’t know where exactly they stand regulatory wise, what can they do, what can’t they do.Because no one agency has really said this is our domain and there’s not one overarching regulatory scheme. So this could be a green light to institutional investors.”
Kelly further said the meeting could provide clarity for institutional investors who have been dubious about jumping on the bitcoin bandwagon as he added: “Once you get that regulatory clarity and we can start to think about what’s going on here and in particular when you’ve seen the regulations trying to stamp out bitcoin in other places, here in the US could be a bitcoin up.”
Bitcoin fell 5.77 percent to $8,692.53 at 15:08 on February 4 in London, according to CoinDesk.com
(Kelly ne aur bhi kaha ki yei meeting ke wajese un investors ki dubhidhaye bhi dur ho jayenge jo Cryptocurrennncy main invest toh karna chahte hai lekin sakt niyam na hone ke Chalte ghabrate bhi hai. Ek taraf jaha USA ke cryptocurrency market main iske bhao bhadhne wale hain is haafte waha London ke market main Bitcoin ke bhao 5.77% ghaat gayi hai 4th February par, CoinDesk.com ke pesh ki gaye report ke mutabiq.)
Bitcoin kya hai uske baare mei jaane.