As the world becomes increasingly digital, more and more people turn their attention to cryptocurrencies. In fear of fiat money being replaced, governments and central banks are looking to create their own digital currency. However, as their plans will be implemented, the world might face a full-scale financial war between centralized and decentralized technologies.
No one would call the life of the cryptocurrency business in India easy. First, they had to deal with a ban from the country’s Reserve Bank, and then they were hit by the COVID-19 pandemic. However, Indian exchanges manage to withstand everything. Especially after the ban was lifted by the Supreme Court.
The relationship between cryptocurrency and Google seems to be in a worse and confusing situation. For a long time YouTube has been quite on Bitcoin and other digital currencies, but now, it has waged a war again some of the blockchain, distributed ledger technology (DLT) and digital asset content creators, especially those who violate or breach community rules.
For over two years now, there has been an ongoing fight between the courts of different countries over the case involving founder of BTC-e Alexander Vinnik from Russia, suspected to have illegally stolen huge sums of Bitcoin (in billions) by Mark Karpeles, the French founder of the collapsed Japanese cryptocurrency exchange Mt. Gox. Now, the case looks to be reaching its end.
The world’s top cryptocurrency by market capitalization, Bitcoin (BTC), has once more managed to hit and exceed the $12,000 price level after around 3 to 4 weeks trading below that mark. The surge comes after a huge devaluation of China’s fiat currency yuan which touched the bottom level against the United States dollar (USD) since exactly nine years ago. The event is one part of the US-China trade war.
Based on the current quagmire of geopolitical conditions, the entire globe could see another big recession within the next nine months, especially if the trade war is prolonged, expert economists reveal. Both the Bitcoin, cryptocurrency and traditional markets could be affected.