Bitcoin in a tailspin , CRASHES like the US AIRWAYS 1549 - need a SULLY
US Touch, Indian Take
On January 15, 2009, US Airways pilots Captain "Sully" Sullenberger and First Officer Jeff Skiles board US Airways Flight 1549 from LaGuardia Airport to Charlotte Douglas International Airport. Three minutes into the flight, at an approximate altitude of 2,800 feet (approx. 850 m), the Airbus A320 strikes a flock of birds, disabling both engines. Both the Captain and First Officer successfully land the aircraft in the freezing HUDSON river with 0 casualties.
Well, this is 2017 and bitcoin lost both its engines for at least a week. The Bitcoin has gone on a tailspin in India, falling much faster that elsewhere in the globe, after a China crackdown on crypto-currencies and public remark by an Reserve Bank of India (RBI) official, trashing the digital currency. UNOCOIN and Zebpay are the front runners for indian buyers where they trade bitcoin. Zebpay's bitcoin value was Rs. 3,40,116 per unit on September 2nd and hit a low of Rs. 2,29,417 on September 15th within two weeks.
But in recent times, these new-age currencies have been losing the battle against regulators.Bitcoin, the biggest names among such non-fiat currencies, is going through one of its toughest phases in 2017, plunging some 27 per cent since September 7 in global markets. Country governments are still deciding how to deal with this decentralised currency or technology.
Japan has legalised it but JPMorgan Chase Chief Executive Officer Jamie Dimon has made comments such as he would fire any employee trading in Bitcoin for being ‘stupid’. “The crypto-currency won’t end well”. But sources have even reported that he too has invested in them. What remains to be seen is what the value of bitcoin will be at the end of 2017 and whether people will sell their bitcoin for a loss.
I would suggest to hold on to them. The "SULLY" single handedly saved 155 lives here we are talking about amount 14 million of world population starting to invest even if it was for the fear of missing out.
Although it's been a bit shaky lately I'll definitely be holding onto mine. I've faith in the crypto's and even if we end up loosing money the blockchain will have a huge impact on the world, and that's in no small part due to our investment in the technology before the mainstream catches on to it.
Very well said. Entities are trying their best to suppress bitcoin price currently. But this cannot go on for long and bitcoin would surge ahead with more rigour. Regards Nainaz