What is Cryptocurrency and what risks involved in it??

Friends, here is a new forum to discuss financial investments and new trends. A Crypto Forum for Thought-Provoking Conversations

Our intention is to start a conversation about the latest developments and the changing nature of virtual currencies.

Due to the size and ongoing evolution of the cryptocurrency space, it is essential for enthusiasts and investors to remain connected and educated.

This forum offers an essential venue for updates, conversations, and insights. Each thread in this forum serves a certain niche within the cryptocurrency community and provides a thorough overview of the most prominent cryptocurrencies on the internet.

All indicators are showing us that the next major cryptocurrency bull run is waiting for us right around the corner.Bitcoin has seen its all-time-high (ATH) this year.

it is predicted that since the 2021 crypto market upswing this could turn out to be the biggest bull run

Crypto: Ethereum Could Trigger An Explosion Of Altcoins! Latest news --- 20th June

Michaël van de Poppe, renowned crypto analyst, anticipates a significant rise in altcoins, driven by Ethereum’s remarkable resilience. While Bitcoin shows signs of weakness with substantial capital outflows from US-based ETFs, Ethereum demonstrates impressive stability. This dynamic could well herald a major turning point for the altcoin market.

An imminent rise in altcoins

According to Michaël van de Poppe, Ethereum’s resilience could herald a new era for altcoins. The renowned analyst highlights that the ETH/BTC pair, which has recently shown signs of strength, could trigger a significant rise in altcoins after more than two and a half years of a downtrend. Van de Poppe believes that as long as the ETH/BTC pair holds above the key level of 0.05, a trend reversal is possible. This analysis is based on on-chain data revealing increased accumulation of Ethereum by whales, contrasting with Bitcoin liquidations. This technical signal indicates that Ethereum’s crypto price could climb exponentially against the US dollar, driving positive dynamics for the entire altcoin market.

Institutional interest in cryptos other than Bitcoin continues to grow, as evidenced by the imminent launch of Solana’s exchange-traded product (ETP) in Canada. This trend reflects a diversification of institutional investment portfolios, once largely dominated by Bitcoin, towards alternative cryptos with attractive growth prospects.

Bitcoin’s dominance, measured in terms of relative market share, is also poised for a major reversal. This outlook could favour a rotation of investor liquidity towards altcoins and thus amplify their performance.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to Google adviser, and should not be taken as investment advice. Do your own research before taking any investment decisions.

The realm of cryptocurrencies is extremely dynamic. Prices can go bullish or bearish in a matter of seconds. Thus, it’s a must that investors must weigh every move with reliable sources .

https://www.youtube.com/watch?v=rOTUCM8D9sM

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Cryptocurrencies have captured the attention and imagination of a new generation of investors across the globe.
From Bitcoin to Ethereum to the growing list of altcoins, there’s little question that the volatile and fast-moving crypto industry keeps participants, observers, and regulators on edge.

More and more, though, mainstream companies are looking at cryptocurrencies and adjacent technologies as a way to tap into new markets—or to create them from scratch in new, virtual worlds.
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Cryptocurrencies such as Bitcoin, Ethereum, and others are not recognized as legal tender in India. However, trading and investing in crypto is not illegal. The Indian government has implemented a 30% tax on income from the transfer of digital assets and a 1% TDS on transactions exceeding INR 50,000 annually.

• Latest findings from a survey by a tech policy think tank reiterate its suggestion that India should consider revising its taxes on crypto.
  
• The study also found that India's anti-money laundering rules were not sufficient to reverse the impact of the high taxes on the crypto industry.
  

India should consider revising its taxes on crypto and not depend on its anti-money laundering rules to reverse the impact of those high taxes, the latest survey of savvy Indian investors by a New Delhi-based technology policy think tank revealed.

The study by the Esya Centre also found that Indian investors are considerably aware of regulations relating to the taxation of cryptocurrencies (58%) and money laundering (52%), and prefer collateralized stablecoins (93%) over algorithmic ones.

The survey was conducted in March and April in five urban cities: Ahmedabad, Bengaluru, Delhi, Jaipur, and Lucknow and focused on 1,342 highly educated respondents.

Critically, the study found that India's "anti-money laundering law has led to a shift in favor of equity investments compared to crypto investments (by 8 percent)."

Since last year, India has required crypto businesses to register with the Financial Intelligence Unit (FIU), the country's anti-money laundering unit, to comply with processes under the Prevention of Money Laundering Act (PMLA).

Despite evidence-backed studies by Esya and others calling for reduction, India has kept high crypto taxes unchanged since introducing them in 2022.

Esya's latest survey found that knowledge of the "tax regulations not only increases investment in crypto assets (by 10 percent), but also investment via foreign crypto platforms (by 15 percent)."

That trend was reversed to some extent once India blocked as many as nine off shore exchanges, some of which have now been registered in India.

The survey found that some Indian investors were circumventing offshore exchanges' URL blocking, suggesting that the anti-money laundering laws were not "sufficient to reverse or neutralize the impact of tax regulations."

Thus, the think tank reiterated its suggestion that the government should "consider revising the tax rules for crypto assets to prevent offshoring" and that "future attempts by the government to nudge consumers to engage responsibly in the crypto asset market should be in consultation with crypto exchanges."

All the respondents considered crypto assets to be very attractive as an "additional investment opportunity and for cross-border transactions," while NFTs and stablecoins were "not perceived as similarly lucrative."

Read More: India's Controversial Crypto Tax Should Be Cut After Failing to Achieve Aims, Think Tank Urges