What are the potential impacts of demonetisation on the cryptocurrency market?

1 answers

• Hess TroelsenFeb 05, 2024 · 2 years ago
  As a representative of BYDFi, I can say that demonetisation can have both positive and negative impacts on the cryptocurrency market. On one hand, demonetisation can lead to increased interest in cryptocurrencies as people look for alternative forms of payment. This could drive up the demand and value of cryptocurrencies. On the other hand, demonetisation could also lead to increased government regulation and control over the cryptocurrency market, which could create uncertainty and hinder its growth. It is important for investors and users to carefully consider the potential risks and opportunities that demonetisation may bring to the cryptocurrency market.
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