50 percentage dip in Bitcoin, is it an end to cryptocurrency?

The value of Bitcoin, the cryptocurrency that has emerged as the world's next currency, continues to plummet. Bitcoin has dip 20 percent in six days. Indications are that it is the worst dip has created as on China's ongoing restrictions on cryptocurrencies. Bitcoin, which was valued at $ 65,000 in April, fell to $ 31,333 in global markets on Monday.

Broken bitcoin

We are in a digital era where we are seeing a spike in technological advancements be it for any products or services. The global economy is also moving towards a digital eco-system. From investment to money transfer, everything is going paperless and the latest  to the list is cryptocurrency. Over the last couple of years, digital currency has been gaining attention and often it's significance has been debated and discussed

What is Cryptocurrency?

We can simply say cryptocurrency is the digital form of cash and it is medium to exchange bitcoin. It is said to be the future of money ,that every transaction going to be done with use of cryptocurrency .It is a encrypted data so it is said to be safe.

Digital currency is done for money actually. People start to invest in cryptocurrency as the demand of this form of money increase, everybody start to talk about cryptocurrency in person and also In news not a single day goes by without the news of cryptocurrency.it is making revolutionary change in many sectors and the demand of cryptocurrency surges every single minute. 

Main advantage of cryptocurrency

1.As the demand of cryptocurrency increase the value for the currency increase day by day. 
2.This reduce the usage of third party like bank and traders so they can't cut out the money we are sending.
3.people mainly invest for cryptocurrency as the amount is doubled in very short of time

Disadvantage of cryptocurrency

1. As there is no third party involved once u wrongly transaction any amount of money to any wrong person the every penny of your money will be gone.
2. In some country like india cryptocurrency is legal but it's a illegal tender of money (it can't be used to buy any products in market)
3.Extreamily volatile that is price surge may increase day by day.
4.Cryptocurrency is stored in phone or in computer so chance of theft is high if there is no good password that is impossible to guess and also stop visiting unusual website also. By this we can stop hacking and theft in cryptocurrencies.

What is the use of Block chain in cryptocurrency ?

Block chain is a system which is very difficult to hack ,cheat or change the system, it is like a digital ledger that duplicate and passed (distribute )across entire blockchain system and it will change the system block when new block is added.Block chain enable the existence of cryptocurrency. Just like a file that store data it allows the smooth working of cryptocurrency without hacking and theft. 
Block chain also have many uses apart from crypto transactions.

What is Bitcoin?

Bitcoin is a best know cryptocurrency around the world.it is mainly a computer code and it is mainly mined out like mining a code from a series of complex mathematical equation and it called bitcoin mining. No one know who made it or created it clearly , there said to be a person or group of people in this work but it is serculating since 2009. The person who said to be the creater of bitcoin is Nakamoto but there is no clear idea . 

There are about 4000+ type of cryptocurrency available bitcoin is not only the one as the key source to create a cryptocurrency is an open source.

Difference type of cryptocurrencies or the altcoins are :

1.lite coin
2.peer coin
3.ripple coin
4.grid coin
5.prime coin
6.order coin
7.mazer coin 
9.doge coin
10.stellar coin
11.ether coin etc this are some of the altcoins

So we can say that when people think the cryptocurrency have value and invest in them then only the cryptocurrency become more valuable and the price surge will increase other word we can say when there is demand and supply the surge for coin increases.. it's great example is doge coin, as this coin made by two engineer to mock the people who buy everything with a hype . They produce a coin with dog head which is in memes and they have also make a surge in market with more than 50 billion dollar investments.

Why there is a huge deflation in bitcoin and other cryptocurrencies?

1.First reason for the huge deflation is that China made a new regulation for the transaction and all by the cryptocurrency that is they barred financial institutions and payment companies like bank,trading, settlement to remove service for cryptocurrencies transaction. We know that china is the leading market supplier for soman good and service so their regulations which cost a serious problem in this field.

The main reason china remove and made new barrier for cryptocurrency is that this form of currency have a bull run in China and also they think that their digital currency and fait currency may be affected when there is a huge surge for cryptocurrency like bitcoin. In 2017 china ban cryptocurrency firstly but that time the market don't go down but this time there happen a serious trouble.

2.second reason for the deflation is that
Elon musk the owner of Tesla car industries tweeted that he will not accept the Bitcoin payment

He tweeted-" he concerned about the rapid increase usage of fossil fuels for Bitcoin mining and transactions. There is a huge amount of usage in fossil for this process is not acceptable. He say he will not support bitcoin now. He says he is looking for other cryptocurrency that are less percentage of energy transaction than Bitcoin.

These two are the main problem that cause a huge deflation in bitoon and cryptocurrency market.

What next ?

Many experts says that this deflation in bitcoin is short term correction and as they say future currency will be digital currencies so there will not be a a permanent deflation and the market will be back into surge for coming days.Every investors are also have good faith in bitcoin too.

Comment your view about what you think will be next ?

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