Of late, the bitcoin investors have seen calculating on the valuation part of their digitalcurrency as it has swung badly, adding up high record and lower prices in the previous sevendays. Although a number of market players have seen this to be a market correction thingthat went on to come up with the report on the losses along with the inability and the angerthing that is seen transacting effectively all over the platforms like the major digital currency exchanges like DX, and WazirX to name a few. It was seen crashing down with an incredible amount of transactions taking place here at this time. We can get a brief explanation of what has been seen getting transpired in the digital currency domain. Now, if you look at the previous week, we have seen the carnage of bitcoin and other digital currencies in the market.
It has managed to gain a good market capitalization that went to a whopping cost of 2.3 trillion USD. Last week, we saw it coming along at the cost of one trillion USD, and the market is seen coming in red, and a majority of digital currencies are seen getting traded at the lower levels when compared to the earlier prices. One man who has invested hugely in this field was Elon Musk, who has kicked up the market by allowing people to procure thevehicles. However, with the prices going down in the recent past, he has stopped accepting the money in bitcoin, and he has been involved in consuming too much money that is
required to mine the currencies. The market crash after the announcement seems big, while Bitcoin was seen going down from 46K USD to 32K USD. Get a fair idea about this issue with the Bitcoin blockchain portal.
Now, we see Musk calling this to be an unfair game as far as the digital market is concernedsince we see a group of developers coming up with the launchpad that remains a counter crypto community that is seen aiming together to take over the company along with stopping Elon from expediting the market. Currently, we have seen the trading taking place at a low cost, that one can see the total market going up with a good amount. After seven days since the previous week, we have seen the market standing up with the one trillion USD, and it has come up with the market now standing in red along with the major digital currencies that are seen taking it to the next level bringing it down to the lower costs.
Now, talking about Elon Musk, he remains the owner of the company called Tesla, and he is seen kicking off the rapid tumble, which is seen coming up with the idea of accepting payments in bitcoin in order to sell away the cars and his other vehicles. However, consider the fact that he is now counting on the fact that the company cannot find it sane enough to allow the energy consumption to go up in a big way. The market was seen coming up with the crash post that is seen getting announced with the significant along with the bitcoin that is seen falling now as low as 46 per coin when we have seen it reaching as high as 54 Per coin. Now calling this to be an unjustified thing, Musk is seen talking much about the digital market; we see a group of developers coming with the counter digital community that is seen aiming now for Tesla and other places to manipulate things.
The other rampage of the digital currency came when PayTm Payment banks were seen saying that they would not tie-up with the major digital currency exchanges. We now see in the Eastern nations like India with banks like Yes Bank and ICICI Bank also taking themselves away from the digital currency. Also, the bitcoin-based exchanges are also seen giving away a rough idea about the exchange. As one can see, the RBI is now directing a number of banks not getting much engaged over the digital currency transactions; there are many more things that are to be seen in the coming times. We are here to do more of it; just wait and watch!