Cryptocurrency Crash Intensified, But Investors Have Yet to Find a Bottom to the Sell-off

Cryptocurrency Crash Intensified, But Investors Have Yet to Find a Bottom to the Sell-off

India’s ban on the use of cryptocurrencies has jolted markets and provided support to bearish sentiments. The news instantly wiped off $40 billion from the cryptocurrency market capitalization. The selloff is also blamed on Tether related controversy, a digital coin, which is pledged to be backed by Dollars. Bitcoin (BTC) started the day trading around…

India’s Anti-Bitcoin Sentiments Cause Crypto Panic: BTC Drops Almost 10% and Crypto Market Plummets

India’s Anti-Bitcoin Sentiments Cause Crypto Panic: BTC Drops Almost 10% and Crypto Market Plummets

India’s anti-Bitcoin sentiments have caused a crypto-wide panic to spread around the world. The country’s finance minister Arun Jaitley announced during the budget speech today that cryptocurrency was not considered legal tender in India. When the news broke, people immediately began blowing his words out of proportion. Jaitley stated that the Indian government “will take…