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Bitcoin has fallen below 10K USD

Bitcoin continues to remain as volatile as ever. The currency which went more than 12K USD has come down below 10K levels.

Where do you think the prices are headed now?


Bitcoin falls below 6500 USD

The US stock markets fell yesterday mainly which lead to a global sell-off in equity markets across the world.

Not only equity but also all the cryptocurrencies are falling down.

Bitcoin which topped at 20,000 USD in Jan 2017 is now trading at below 6200 USD as I write this article.

Major reasons behind the fall of these cryptocurrencies are –

  • China to consider a ban on foreign cryptocurrency.
  • India making statements about the legality of these currencies.
  • South Korea imposing additional restrictions on trading in these currencies.

An interesting study has found out that in just a month 550 billion $ have been wiped out of the global crypto market cap. Read more.


Is Bitcoin legal in India?

A million dollar question in mind of a lot of Indians today is that is Bitcoin trading legal in India?

Well, the answer might disappoint you, that bitcoin is not a legal tender in India. Though there is no restriction on trading on bitcoins provided the money is white and accounted for.

The Indian finance minister on the budget day made it official that it won’t recognize bitcoin as a legal currency but will adopt blockchain as a technology going forward.

The government also warned of its volatility and how people can lose their wealth if the prices go south.

We have recently observed a high volatility in the crypto market. Bitcoin prices have come down to approx 7500 USD from its peak of about 20,000 USD.

Not only bitcoin but all the major cryptocurrencies have been impacted in a similar manner.

One currency which increased in value, on the other hand, is Money Trade Coin (aka. MT Coin).

Do share your doubts and suggestions below in comments. 


In our previous article we spoke about MT coin which has risen from 1$ to now 350$ in a very short span of time.

Most people are eagerly waiting to exit and book their profits.

The company had not been providing any update on the same. They have finally advised that they will start their blockchain this month starting from 8th Feb. They will also start the KYC process on the MT pay app where an individual can get his documents verified for seamless transactions.

So here is how it will work out as per their plan –

8th Feb 2018 onwards the document verification process will start and will go on till 28th of Feb 2018.

In the same period all your tokens from MTPay app will be converted to MT coins and you will get an option to move your coins to MTCX.

Listing will happen in March 2018 as per them on several exchanges including their own.

This update is as per the offical update on the app.