Smart Money: Crypto market correction a typical market thing, says WazirX
cnbctv18.comcrypto assets recently. What does one do now? Nikhil Kamath, Co-Founder of Zerodha, Siddharth Menon, Co-Founder, Wazirx, and Shashank Udupa, Co-Founder and COO, Avalon Meta, discussed this further.“In short span of time, we saw the prices going up and what we are seeing right now is a cooling-off phase which is a very typical market thing,” said Menon.
“It is still quite fair where we are,” he added.Also Read: There has been 30-40% dip in India crypto volumes in past 30 days over tax uncertainties: WazirX“Bitcoin does these weird rallies once in a while, it did it in 2016-2017 where it went from $2,000 to $20,000 -- a 10x jump -- and now in the recent past it took a 6x-7x jump,” said Udupa.He believes bitcoin currently is in a consolidation phase, which is very common. “There is a phase of a bull run and everything is looking rosy and nice and then there is some negative news that makes it look bad.
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