Future of Cryptocurrency in India

Currently, Bitcoin is experiencing high volatility that it maybe caused by the recent SEC impediment to create the first bitcoin ETF, or exchange traded fund.

Some people in the crypto community were confident about the U.S. Securities and exchange commission positive decision that this hope drove the price, allowing bitcoin to reach its new all time highs.

Then, the SEC announcement about its decision to reject the Winklevoss’ proposal affected the bitcoin and other digital currencies market, but – after a first drop – the greatest part of the digital currencies are currently experiencing new highs.

Right now, Ether, or the cryptocurrency that fuels the Ethereum blockchain, reached its new all time high with a price of $200 at present time.

That said, leaving aside the price-related matters, the SEC decision opened another important question: can bitcoin and other digital currencies survive without any approval by institutions? Is it true – as said by Bank of Canada – that it cannot reach a massive diffusion without any formal regulation