What explains Indian investors’ bullish stance amid crypto crash
A 20-40% dip in cryptocurrency prices over the last week may have egged on Indian investors to “buy the dip”, in the belief that the fundamentals of bitcoin remain strong.
Synopsis
Tiger Global-backed CoinSwitch Kuber and Binance-owned cryptocurrency exchange WazirX saw a 250% and 60% increase, respectively, in money deposited by account holders on June 21, and the upward trend continued on June 22.
Mumbai: Indian cryptocurrency investors are betting on the nascent industry even as investors and experts ruminate on whether the market has entered a bearish phase or not.
A
drop in cryptocurrency price by 20-40% between June 15 and June 22 may have egged on Indian investors to ‘buy the dip’ or average down their investments in the belief that the fundamentals of bitcoin and other major tokens remain strong.
Tiger Global-backed crypto
