New Delhi/Mumbai: Indian crypto investors resorted to panic selling after the government listed a bill on Tuesday night seeking to ban private cryptocurrencies, while allowing an official digital currency by the RBI. Cryptocurrency prices in the Indian — linked to rupee — market crashed by up to 20% before recovering on Wednesday after exchanges allayed investors’ fears.
“On Tuesday night, we saw huge selling in the rupee (INR-crypto) market on WazirX. We saw a 15-20% crash in prices once investors engaged in panic selling. However, the market is showing recovery and is at a 3-4% discount currently. A similar knee-jerk reaction was seen in January, when the contents of the bill were disclosed,” said WazirX CEO Nischal Shetty.
“A lot of fear is being seen among Indian crypto investors, especially the ones who entered recently. However, we advise people to pay attention to (Parliament’s) winter session and derive conclusions based on it. The ban reports could turn out to be speculative,” crypto exchange BuyUcoin’s CEO Shivam Thakral said. The price of bitcoin, the largest cryptocurrency, was down 10% against the rupee at Rs 40 lakh on Wednesday evening (the crypto market is open 24/7).
この記事は The Times of India Mumbai の November 25, 2021 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は The Times of India Mumbai の November 25, 2021 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
US soccer scrubs Islamic emblem from Iran flag
The federation said in a statement Sunday that it decided to forego the official flag on social media accounts to show “support for the women in Iran fighting for basic human rights.”
Pyar Ke Saat Vachan Dharam Patnii begins on TV tonight
What happens when kismet takes over the lives of two couples belonging to two different sections of society?
Arijit serenades music lovers in Mumbai
Arijit Singh casts a spell with his voice
ARGENTINA LIVE TO FIGHT ANOTHER DAY
Messi's Strike Rattles Mexico And Lusail, Brings Team Back From The Brink
Costa Rica come alive
Los Ticos Stun Japan With Late Fuller Winner
Morocco's moment under the sun
Inspired Atlas Lions Shock Belgium For First WC Win In 24 Years
ON YOUR MARK, GET SET, SOAR
Athletics Icon Usha Set To Become First Woman President Of IOA
Industry body calls for slower rate hikes
CII Asks RBI To Moderate Pace Of Raising Repo As Global Woes May Impact Growth
Insurance reforms may see PE funding surge in sector
Irdai Raises Investment Cap, Allows PEs To Be Promoters
Cut ties with child-killing regime, Khamenei's niece tells world, held
Iranian authorities have arrested a niece of supreme leader Ayatollah Ali Khamenei after she recorded a video describing the authorities led by her uncle as a “murderous and child-killing regime”.
