The rise of digital cryptocurrency is amazing. A year ago, the website Bitcoin Market Cap had 6,000 currencies listed. Its total market capitalization has increased from Rs 2.44 lakh crore to Rs 11.86 lakh crore. 63% of digital currency is being traded by institutions and companies. However, the cryptocurrency market is highly volatile. Because of this, there is a fear of the end of digital currency.

The value of Bitcoin fell from Rs 4.7 million in April to Rs 2.2 million in May. Today, it is around Rs 2.9 million. On July 29, the market value of Bitcoin fell to Rs 2.1 million. After the downturn, there has been panic among investors. There will be a lot of damage when the bidcoin effect is affected. In this, most institutional investors will have to bear the loss. The collapse of digital currency will cause losses for crypto exchanges and crypto companies.

The decline of Bitcoin can be very damaging. Cryptocurrency could incur a loss of Rs 14.82 lakh crore in the first place. The downturn will affect many channels as well as other sectors. Even small fluctuations will have a big impact and the exchange will have to bear huge losses.