Experts decode triggers for cryptocurrency sell-off
The crypto winter has been here for a while now with institutions and minor selling-off taking the Bitcoin below $20,000 at one point. The Indian markets have also been sent into As the regulatory and tax uncertainty not only in India, but globally continues to plague the markets, how long will the ongoing crypto winter last? To discuss this CNBC-TV18 spoke to Advocate N S Nappinai and Sandeep Nailwal, Co-Founder of Polygon.a tizzy with the Enforcement Directorate (ED) accusing WazirX of assisting Indian fintech firms in money laundering.
The crypto winter has been here for a while now with institutions and minor selling-off taking the Bitcoin below $20,000 at one point.
Despite Bitcoin regaining the $24,000-level recently, the global trading volumes have been on the decline.
The Indian markets have also been sent into a tizzy with the Enforcement Directorate (ED) accusing WazirX of assisting Indian fintech firms in money laundering.
The ED scanner has also been on 10 other Indian exchanges, lending further fears to market participants. So this uncertainty has led to trading volumes in India declining by more than 50 percent in the last week as well.
As the regulatory and tax uncertainty not only in India, but globally continues to plague the markets, how long will this crypto winter last? To discuss this CNBC-TV18 spoke to Advocate N S Nappinai and Sandeep Nailwal, Co-Founder of Polygon.
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