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A 20-40% drop in cryptocurrency prices over the past week may have prompted Indian investors to buy the downside, believing bitcoin’s fundamentals remain strong.
Synopsis
Indian cryptocurrency investors flocked to CoinSwitch Kuber and WazirX after the latest bitcoin price crash, so much so that cash deposited in local crypto exchanges saw an increase of 250% and 60% respectively.
Mumbai: Indian cryptocurrency investors are betting on nascent industry even as investors and pundits question whether or not the market has entered a bearish phase. A 20-40% drop in the cryptocurrency price between June 15 and June 22 may have prompted Indian investors to ‘buy down’ or cut their investments on average, believing that bitcoin’s fundamentals and other major tokens remain strong. Crypto backed by Tiger Global
THROUGH
ETtech
5 minutes read, last updated: Jun 24, 2021, 1:11 PM ISTGIFT ARTICLEFONT SIZE
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