![]() However, investors shouldn’t experiment here as they run risk of getting their entire capital wiped out. Rachit Chawla, CEO and Founder of Finway FSC is the view that short-term investments can still be done in Bitcoin and Ethereum as they are the market leader in the space. Rachit Chawla, CEO and Founder, Finway FSC It is a combination of profit booking and panic selling,” Shetty told ETNOW. If you look at it, it is technically at least three to four times higher than the price one saw in 2020. The next few days will give us a clearer picture, but it seems there has been a lot of buying pressure as well as a lot of panic selling - or I would say profit booking – from those who entered Bitcoin about a year ago. “If you study the history of the whole Bitcoin price movement, you will see these dips happening often,” he said. Nischal Shetty, Founder & CEO at WazirX, said the wild movement in Bitcoin was nothing unusual. The right way, for most people, is to not have concentrated positions,” he said. “All it takes is one large move on the other side for things to go wrong. ![]() I have zero knowledge or exposure to Crypto, but the rules for investing are the same: Reduce % exposure if the risk is high, & don't Average down. Saying this because of pings from friends asking if they should buy more Bitcoin to average the price, by exiting other assets. In a series of tweets overnight, Kamath said while it is tempting to average down, the odds of this strategy working out are significantly low in the long run. “But the rules for investing are the same: Reduce percentage exposure if the risk is high, and do not average down,” he said. Nithin Kamath, Founder & CEO at Zerodha said he has no exposure to cryptocurrencies. The meltdown in digital currency, however took the investors aback not just in India but across the globe.Īs most of them were caught unawares, losing out on their money, here is an expert take on what could be cryto’s next move and what it would mean for investors. A bubble burst or an opportunity to buy more?Ĭryptocurrency market, despite going through a roller-coaster ride was fast emerging as mainstream investment platform and many countries have accorded the market, a legal right to operate and transact. So, many investors (first-timers) are confused and are in dilemma – whether to sell them while some may be thinking of it as a fresh opportunity to buy more, when the cryto market is down. However, those holding the digital currency for long time have also earned lot of profits owing to sharp jump in its value. Investors dilemma: To sell or to buy more On May 19, the cryptocurrency market lost nearly $1 trillion in market capitalisation following free fall in big digital currencies including Bitcoin and Ethereum. New Delhi: Are you holding Bitcoins or any other digital currency? The thought of holding it further must be making you jitter, in wake of the extreme volatility and meltdown seen in crypto currencies yesterday.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |