Bangkok tourist center (btc group)
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Top Bitcoin & Cryptocurrency Exchanges in Thailand
The price of bitcoin has continued to fluctuate during the first five months of Although there is much hype surrounding the price outlook of bitcoin, the price effect from bitcoin halving might not occur instantly, said Piriya Sambandaraksa, managing director of ChalokeDotCom. Halving itself does not affect the price of bitcoin, but rather the cryptocurrency's fundamentals as circulation is reduced, said Mr Piriya.
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This in turn affects investors' reaction toward the demand of bitcoin. Among them were newcomers and those who did not know much about the cryptocurrency. Some bought on expectations the price could overshoot, while others purchased based on rumours and would sell after the halving," he said.
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Demand for bitcoin does not increase from halving, but rather other factors. Based on previous statistics, every time the stock-to-flow ratio changes, demand increases, said Mr Piriya, noting there could be a new narrative with bitcoin demand as an asset to hedge investment risks, for instance. Although the supply of bitcoin has decreased this year, organic demand similar to the phenomenon in is still missing, said Sanjay Popli, chief executive at Cryptomind. The market is still in the consolidation phase as many institutional investors are still not confident about this asset class at the moment," said Mr Sanjay.
Optimism about bitcoin has centred on its scarcity and stored value, but it will take a while for this cryptocurrency to cement its reputation in the digital realm.
It is not widely used like Promptpay transactions and there has to be a well-established system for people to use bitcoin widely," said Prinya Hom-anek, president and chief executive at ACIS Professional Center. As bitcoin mania has subsided from the frenzy three years ago, the digital currency currently in the spotlight is the digital yuan. Akin to Facebook's proposed Libra digital currency and other cryptocurrencies such as bitcoin, the officially named Digital Currency Electronic Payment will be powered partially by blockchain technology and dispersed through digital wallets, Reuters reported.
What sets it somewhat apart, however, is the digital currency's design seemingly provides Beijing with unprecedented oversight over money flows, giving Chinese authorities a degree of control over their economy that most central banks do not have. The digital yuan could also have implications in shifting the global financial paradigm long dominated by the greenback in the long run. With [the digital yuan], the Chinese can offer this option to countries that are sanctioned by the US.
The Ministry of Tourism and Sports and Faculty of Engineering at Kasetsart University have collaborated to create safety standards for land tourism and zipline adventure activities.