Whats happening with Bitcoin in Singapore?
Likened by many to the tulip and dot com bubble, Bitcoin has been at the centre of all news stories worldwide. There have been considerable problems such as Bitcoin ATM Failures, hacking problems and the uncertain future Bitcoin Price.
2 out of the 3 Bitcoin ATMs at the Tiong Bahru Plaza and Hong Lim Complex in Singapore, crashed for 3 days due to rapidly increasing prices. 4 years ago, the Bitcoin ATM was restocked 3 times a week. Today, refilling the ATM has increased to 3 times a day.
Following this, hackers now infect websites and computers with cryptocurrency mining malware and cryptojacking. There has been 100,000 cryptojacking incidents from Singapore over the past month, just within Fortinet’s web filtering services.
Inevitably, Bitcoin’s price prediction is ever changing. Some believe that it will increase to 100,000 before falling to 0, whereas others believe that it will become a multitrillion dollar asset.