Bitcoin was around 19 k this December and it was still holding strong around 12k-13k but since yesterday the market situation has got worst and there are several reasons behind this and I will talk about these cause that probably took over the market and we may even experience more downfall in the price specially in terms of bitcoin, because the market doesn't look good and people are quite fearful and I believe news and media are doing their best to put the crypto market down. And I think this will continue until we see some strict regulations about the digital currency.

Union Budget 2018 India

Yesterday at the Union Budget 2018 held in India was the most trending topic but the bitcoin news from Mr Jaitley the Financial Minister of India got misinterpreted and as I said media and news did their best to misinterpret the news .
if you search for the news on bitcoin in India you will find tonnes of post claiming bitcoin banned in India but which is actually not True..

here are the exact words from the Financial Minister

"The Government does not consider Cryptocurrencies “as Legal Tender or Coin” and will take all measures to eliminate the use of these Crypto Assets in Financing “Illegitimate Activities or a Part of the Payment System”."

his statement clearly illustrates that the Government is not banning cryptocurrencies. The Government does not consider it as a legal tender and won’t allow any Illegitimate Activities or criminal activities using digital currencies.

ZebPay One of the biggest digital wallet in India took over to twitter to interpret jaitleys statement

The government in India and rest of the world has now started taking crypto activities seriously and are focused on Regulating the digital currency. We may even see some Government Imposing tax on the crypto trades. Ultimately it should be noted that bitcoin is not banned in India but we may soon see some regulations for the digital currency.

Facebooks stops Ads promoting cryptocurrencies

The Social Media giant Facebook is one of the Main reason lot of newbies rushed into the Crypto Market and this all possibly happened with the cryptocurrency ads that were running on facebook. Which introduced bitcoin to almost 90% of the population.

but now facebook seems to take a hit to it wallets to make sure its users don't by stopping the ads promoting crypto. Facebook will ban all ads promoting cryptocurrency in an attempt to prevent scammers from using its advertising platform to dupe its users.
but recently Mark Zuckerberg In a Facebook post published earlier this month, Zuckerberg positively cited cryptocurrency as an example of technology that can decentralize power.
but I personally think this is just temporary and the ads will be up and running after a strict regulation will be made.

I still believe that crypto market will come back to its state but the problem is the community shouldn't be mislead to false news, crypto has got a huge potential and the main reason is its ability of decentralization taking away power from the hands of government giving back the power in the hands of the investors but rumours from news and media are causing panic sell.
I've found so useful post on twitter that's worth noticing is that people are so curious to know the right time to buy and sell but no one is actually ready to learn about crypto this is the main reason behind this panic sell.

Well I would like to finish this blog with some positive words and Rules from crypto world

if you are new to crypto and have no idea what it is and how it works please don't get involved in it.
Rule 1:you should never step into the river if you are not aware of its depth
if you are passionate about investing and taking risks this is for you but remember
Rule 2 :Invest as much as you can afford to loose
Never follow the rumours make your analysis and buy/sell the trade
Rule 3:buy the Trade Sell the News

And a last tweet what every crypto believer would do in this situation

NOTE:Take this post as a piece of Advice, I do not encourage for any trades

if this post helped you, would you please upvote this post and share or resteem to spread the cause.