Despite the fact that the Venezuelan government has been arresting and frustrating the efforts of some of the cryptocurrency developers trying to infiltrate its market, some of the tough crocodiles with hard skin such as Jonathan Wheeler has gone against the odds in his plan to send millions in bitcoin to this country. From the latest news, it is clear that the Venezuelan government has even gone ahead to develop and introduce its own cryptocurrency with the aim of curbing economic challenges that may face the nation if the whole platform is eventually controlled by private developers.
Bitcoin market price
The bitcoin price right now as we speak has risen due to the news about the possibility of introduction new bitcoin worth millions in this country. Many have anticipated however, that the introduction of bitcoin worth millions into the Venezuelan economy will lead to stiff competition between the other cryptocurrency owned by the government. On the other hand, the value of bitcoin and other available cryptocurrency within the country will slumber in terms of value. This basically because of the fact that the introduction of millions will attract other users to move from other forms of cryptocurrency to bitcoin related platforms.
Bitcoin price news
From the bitcoin current news, it is clear that the introduction of bitcoin worth millions into the Venezuelan economy will leave people asking about bitcoin price prediction in other parts of the world. The will however increase to the introduction of a monopolistic kind of competition. Everything tend to increase in terms of worth whenever there is a certain sort of competition. The values of cryptocurrency always depend on whether there competition is not. Far from what the bitcoin price right now will be, there are fears from the developers that the government will use its political machinery to cripple the efforts towards the introduction of millions worth of bitcoin into the Venezuelan cryptocurrency market. Whenever there are government bottlenecks, it becomes difficult for new cryptocurrency to take root in a given market. On the other hand, the introduction of bitcoin worth millions will help the cryptocurrency lovers to advance in terms of transactions. The plan to send millions in bitcoin to Venezuela is the right plan and many have seconded the fact that it has been moving ahead and it is still moving ahead. This will reawaken the lovers of cryptocurrency in Venezuela.