After a long time cryptocurrency is setting itself and getting back to the old position but still, everyone is not happy with the current position of cryptocurrency. After South Korea, China, Japan, India now Germany and France are all ready to demand crackdown globally.
Now the chances are that after this new demand bitcoin may start to sink again. Due to the crackdown, it may be possible that people in Germany and France will not be able to trade bitcoin and other cryptocurrencies which may directly affect the value of cryptocurrency. This may cause trouble to the market.
According to the minister of France and Germany cryptocurrency is not legal and it’s risky for the investors. It is also a threat to the global financial stability. They also said that cryptocurrency is not a real currency and no matter what it’s value is but it will always be a risky investment.
According to the few countries, cryptocurrency is not a reliable source of earning but it’s volatile in nature. This is a way for the people who want quick profit in return of their investment but in reality, it can give you quick loss as well.
These ministers think that cryptocurrency is disturbing the financial institutions and they demand crackdown of cryptocurrency globally because it may help people in understanding volatile nature of cryptocurrency. People from a financial institution are voicing their concerns too and they are demanding of ban or strict regulations too.
Now, this demand may bring all cryptocurrencies from green light to the red light once again. If bitcoin is going to sink again then it may be hard for it to get back to the position. In coming days may be crackdowns will begin in Germany and France, investors and traders have to see whether cryptocurrency is going to get down or will maintain it’s position in the market?