India is relatively new to cryptocurrencies compared to the first world countries. It’s fair to say that crypto is in its infancy here. But the demand is growing exponentially and people, especially the younger generation, are getting more and more invested in this revolutionary form of finance.
If you live in India or one of its neighbouring countries and are wondering about what the crypto scene is like in this region, this post is for you. We’ll go over all the pertinent details you need to know.
Monthly Archives: May 2024
Stormy Crypto May
The cryptocurrency market suffered a setback earlier this month, with Bitcoin falling more than 20% from a $73,750 high in March to $56,700 on May 1. This sparked a sharp selloff in altcoins, with dips of up to 40% recorded in the 24-hour timeframe. Ethereum, the largest altcoin, fell by more than 15% from its yearly highs and slipped below the critical $3,000 level.
While some analysts assured that shakeouts like this are normal during a bull run, others raised concerns about increased volatility and downside risks. The market has since made a recovery, with Bitcoin trading above $63,600 at the time of press (May 6) and Ethereum hovering above $3100.