Crypto market crash continues – buy or sell in 2021?

Crypto market crash continues – Is it time to buy or sell:

While investors opted for sales that could be painful due to the recent crisis and uncertainty in the market, the price of Ethereum (ETH) rose by 1 150% last year, while the price of Dogecoin over the same period by 13 310.1% has risen.

May has been a stressful month for cryptocurrency investors. The world’s largest cryptocurrency, Bitcoin, reached a low of almost 4 months last month. Bitcoin has already fallen more than 50% to $ 30,066 from its daily high of $ 64,895 reached on April 14th. The currency linked to the Ethereum blockchain network, Ethereum, fell almost 57% to $ 1,850, the lowest level since the end of January.

There have always been many uncertainties in this asset class. However, this did not stop Indians from investing in this asset, and today, in April 2021, India had more than 10 million cryptocurrency investors. As the price of the cryptocurrency has dropped significantly recently, the Reserve Bank of India also made it clear on May 31 that bankers cannot comply with the Supreme Court ruling in 2018 to warn users about cryptocurrency trading, as the RBI of 2018 can not meet.

S Ravi, the managing partner of Ravi Rajan & Co. and former president of the Bombay Stock Exchange, says: “Speculative trading is not the right form of investment, as regulators have not yet provided clear guidelines that will determine the destination of the cryptocurrency.”

Elon Musk’s tweet started the slowdown in the cryptocurrency world, where he claims that Tesla would no longer accept Bitcoin as a means of payment. Musk said Tesla will no longer allow the purchase of Bitcoin-based vehicles due to environmental issues. In addition, China’s announcement that payment and financial institutions will no longer provide services related to cryptocurrency transactions has exacerbated the downturn in the market.

Buy or sell: what to do?

As investors opt for sales that could be painful due to the recent decline and uncertainty in the market, the price of Ethereum (ETH) rose by 1,150 percent last year, while Dogecoin rose by 13,310 percent in the same range.

Industry experts say it has become a crypto-currency to stay, and the outlook is positive. Ravi says: “We all know that cryptocurrency is very volatile and that investors need to be vigilant. It is important to keep these investments at least in the medium term.”

He adds: ‘The investor is advised to invest a lower percentage and should also be part of the investment basket. Systematic investments based on investors’ wealth will yield returns over time. But all investors need to remember that logical thinking and an understanding of the technology that drives cryptocurrency is critical.

Although cryptocurrency in India is not illegal, it has not yet been regulated, which in turn has caused a lot of confusion as there is no regulatory body to regulate it and the possibility of fraud and deception is increasing. Therefore, experts say that it is important to fully understand the technology behind this feature in order to make more informed decisions. In addition, the cryptocurrency infrastructure is increasing as cryptocurrency exchange platforms often experience technical setbacks.

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