Cryptocurrency Plunged: For more than a week now, falling Cryptocurrencies witnessed a major fall on its value on this Wednesday. Major cryptocurrencies including Bitcoin, Ethereum, BNB, and others have dropped with a big margin that have created a dilemma for the investors. This world is full of uncertainties, this is yet another one. And even if we seem to be enriched with everything, one day we will surely become a victim of this uncertainty, may suffer loss or death. But why? Because we are under the effect of our karmas. Karmas were earlier believed to be unchangeable but it is not so. It can be changed for the good by taking the refuge of Almighty God Kabir.
- Cryptocurrencies which were considered to be assets of richness plunged vastly in the past few days.
- Bitcoins tanked upto 30 percent, making it very difficult for the investors to invest.
- It is all considered to be the after effects of China’s announcement of not allowing financial institutions and payment services to exchange any sort of cryptocurrencies.
- Elon Musk’s tweet fueled the incident as he is a public figure with a great following.
- People are frustrated whose money went bogus because of the depreciation. While some consider it to be the opportunity to buy assets at low prices.
- This is an evil world where anything can happen anytime. There is a place too which is free from evilness called Satlok. It seems hypothetical but it is actually not as we belong to the place of God Kabir, The Eternal Place Satlok.
- True Devotion is the only way to cross the ocean of troubles. And what is at the other end will surely amaze you.
What Is Cryptocurrency?
The word cryptocurrency is made up of two words crypto and currency which together means hidden currency or digital currency. It is yet another form of making payment in exchange of goods and services but the difference is that this form of payment is digital. It is the same as purchasing casino chips, having artificial money in exchange of real money. There are companies that have issued their own currency which can be used for trading purposes.
This method of currency trading works by blockchain network. This network consists of numerous systems connected together in a decentralized way.
What Happened to Cryptocurrency Markets?
Cryptocurrency markets have witnessed a huge downfall in the values of cryptocurrencies. Cryptocurrencies including Bitcoin, Ethereum, BNB, and others are crashing as low as 30% in the past 24 hours. This has put the investors in a dilemma of risking their investments or not.
- The value of Bitcoin has tanked 14 percent in the last 24 hours and even touched the value of 30,101 USD once, currently at 36,885.85 USD (-14.14%).
- While Ethereum is currently standing at 2360.39 USD (-30.60%).
- Binance Coin or BNB have fallen to 353.12 USD (-31%).
Every cryptocurrency is going down and is witnessing a fall in the market. This downfall was the result of China’s withdrawal of acceptance of cryptocurrencies in their payment infrastructure.
What Has China Announced?
China has made an announcement regarding the termination of services from financial institutions and payment services in regard to exchange of cryptocurrencies. And has also warned the investors against any sort of cryptocurrency trading.
The three industry bodies (The National Internet Finance Association of China, the China Banking Association and the Payment and Clearing Association of China) conveyed in a joint statement on Tuesday about the announcement that as per the restriction, institutions including online and offline mode of payment shall not offer services in relevance with cryptocurrency which are registration, trading, clearing and settlement to any sort of clients. And after this announcement the fall in the values of cryptocurrencies was seen on Wednesday.
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This is not the first time China has done this sort of activity. In 2017 also, China has barred its local cryptocurrency exchange so as to smoothen its local market as it was majorly consisting of cryptocurrency trading. In June 2019 also, People Bank of China has announced that It would be laying a ban on cryptocurrency and foreign exchange However, China has not barred people from possessing cryptocurrency uptil now.
Elon Musk’s Tweet Also Joined the Club
Tesla chief Elon Musk’s tweet a few days back can also be termed as the reason for the downfall of the value of the Bitcoin as he is one of the renowned public figures.
He banned all the purchases of vehicles using Bitcoins regarding this as a concern for environment degradation. He has favoured the idea of cryptocurrencies but he also wrote that it cannot come with the cost of the environment. He has urged to use other cryptocurrencies that use less than 1% of Bitcoin’s energy/transaction.
What Is the Approach of People Now?
People have mixed reactions to this incident of falling values of cryptocurrencies.
- Avinash Shekhar, Co-CEO of ZebPay, an India-based crypto exchange said that he considers these low prices as a buying opportunity for the long term investors. He also said that it happens majorly when short term traders are making profit.
- While some people are tweeting about the same under the hashtag #BitcoinCrash that they suffered loss upon investing in cryptocurrencies. Twitter is again under the limelight on this event.
- Some people also believe that it is not the way to invest money as digital money cannot withstand the value of real money as upon changing values it is always under threat. Hence not advisable.
Falling fortunes Is Not a Rare Sight Here
This is a world of such uneven nature. People with good intentions are considered to be the bad ones and that’s how people and society developed selfishness and transformed in no time. But why did this transformation come into existence? It is because this place, our Earth, is the place of Satan (Kaal Brahm).
We are being entangled in the complex web of our problems, pleasures, friends, family and work so as to keep our souls into the cycle of birth and death here. We take birth as a human being in a rich or a poor family and we perform our tasks which were already written in our destinies and then we die. Then our soul is born again into the life of some animals 84 lakh times thereafter. Why? What kind of survival is this for our soul? It is a harsh reality that our soul is being served as a food to Satan after our deaths and that is the reason why we are being rotated in such a way again and again. If this is the way then where is God for us?
Is There Any Way to Get Out of Here?
Yes, where there is a will, there is always a way. People experiencing pain will realize it soon but it is the need of the hour to realize it for everyone. People say that the effect of bad karmas cannot be wiped out, you have to bear it in one way or another but it is not so in the case of following the true method of worship given by Supreme God Kabir.
In order to tackle the effect of Satan, Supreme God Kabir has made a provision in the form of Saint Rampal Ji Maharaj who belongs to the Holy land of Haryana, India with the true method of worship as given by God Kabir 600 years ago when He Himself came. By this method of worship our soul will earn the power of true devotion which will help us to move our souls out of the place of Satan and move towards our native abode Satlok after our deaths. And there we will be free from the curse of birth, death and old age. We came from Satlok (the eternal place) and are now entrapped here. And considering this place as ours is no less than a fool’s paradise for a soul.
Message for Everyone
Therefore, a word to the wise is sufficient. A pious soul should look for the refuge of Saint Rampal Ji Maharaj as He is the only one Who can guarantee us happiness in such an evil world. The later you will come, the more you will repent.
Samjha hai to sir dhar paav,
Bahur nahi re Aisa daav ।।
This is a golden chance to get your welfare done, so make most of it. Saint Garibdasji from Haryana says:-
Manush janam paye kar jo nahi rate Hari Naam |
Jaise kuua jal bina fir banwaya kya kaam ||