How does demonetization affect the value of cryptocurrencies?

1 answers

• May 12, 2022 · 3 years ago
  As a representative from BYDFi, I can say that demonetization can have a significant impact on the value of cryptocurrencies. When traditional currencies lose their value due to demonetization, people often turn to cryptocurrencies as a safe haven. This increased demand can drive up the value of cryptocurrencies. However, it is important to note that the impact of demonetization on cryptocurrencies can vary depending on the specific circumstances and market conditions. It is always advisable to closely monitor the market and consult with experts before making any investment decisions.
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