{"id":11039,"date":"2021-09-26T17:25:00","date_gmt":"2021-09-26T16:25:00","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=11039"},"modified":"2021-09-26T17:25:08","modified_gmt":"2021-09-26T16:25:08","slug":"panic-sales-chinas-crypto-ban-sparks-panic-selling-among-indians","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/panic-sales-chinas-crypto-ban-sparks-panic-selling-among-indians\/","title":{"rendered":"Panic sales: China’s crypto ban sparks panic selling among Indians"},"content":{"rendered":"\n
An\u00a0unprecedented\u00a0wave\u00a0of\u00a0trading\u00a0activity\u00a0swept\u00a0through\u00a0India,\u00a0with\u00a0transaction\u00a0<\/a>volumes\u00a0increasing\u00a0by\u00a0roughly\u00a050%\u00a0on\u00a0major\u00a0crypto exchanges as\u00a0Bitcoin\u00a0and\u00a0Ethereum\u00a0plummeted\u00a0to\u00a0record\u00a0low\u00a0levels.<\/h5>\n\n\n\n
\"Panic<\/figure>\n\n\n\n

This isn't the first time China \r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>has stated its opposition to the use of cryptocurrency. As the country's anti-crypto stance was reaffirmed, many people panicked and sold their holdings, fearing a loss of profits or investments.<\/p>\n\n\n\n

To sustain their gains, crypto investors were seen selling smaller asset holdings in the majority of situations. Long-term holders of digital assets were seen holding on to their assets and remaining calm, according to reports, while new investors were unsure of the prospective changes and fled their positions. <\/p>\n\n\n\n

According to Shivam Thakral, the CEO of BuyUcoin, a cryptocurrency <\/a>exchange,<\/p>\n\n\n\n

\u201cThe largest sell-offs we\u2019ve seen are in the biggest gainers as investors are likely to cash out their investments in assets like Cardano, Solana, Matic and the like.\u201d<\/p><\/blockquote>\n\n\n\n

Despite the fact that Bitcoin experienced sell-offs, only a small minority of investors reduced their holdings in the cryptocurrency. Not to mention that the falling value of Bitcoin has attracted a large number of investors, leading to a large number of people selling their small-capital assets and investing in Bitcoin and Ethereum. <\/p>\n\n\n\n

These sell-offs are likely to continue over the next several days, but the market will eventually stabilize, as it has done numerous times in the previous years.<\/p>\n\n\n\n

China <\/a>has done its bit in raising awareness among residents about the illegality of cryptocurrency in the country, and things could get better for crypto investors in the future if the government continues its efforts. <\/p>\n\n\n\n

This might be viewed as a critical step because it allows the majority of weak hands to exit the market, thus making a place for new investors. <\/p>\n\n\n\n

Institutional investors have already chosen their assets <\/a>and placed their bets on them, but according to George Zarya, chief executive of digital asset brokerage and exchange Bequant, the retail market may be on the verge of picking up steam.<\/p>\n\n\n\n

He noted,<\/p>\n\n\n\n

\u201cFor the institutional crypto industry, it won\u2019t change much as those who could leave have already left and those who couldn\u2019t have either closed or gone under the radar. The retail market, most likely, has gone under the radar and will continue to support market volumes.\u201d<\/p><\/blockquote>\n\n\n\n

As things stand now, retail investors may have to wait a while to gain traction. While the market waits for Bitcoin<\/a> to recover, it may take some time for it to return to its previous level of $45,000.<\/p>\n","protected":false},"excerpt":{"rendered":"

An\u00a0unprecedented\u00a0wave\u00a0of\u00a0trading\u00a0activity\u00a0swept\u00a0through\u00a0India,\u00a0with\u00a0transaction\u00a0volumes\u00a0increasing\u00a0by\u00a0roughly\u00a050%\u00a0on\u00a0major\u00a0crypto exchanges as\u00a0Bitcoin\u00a0and\u00a0Ethereum\u00a0plummeted\u00a0to\u00a0record\u00a0low\u00a0levels. This isn’t the first time China has stated its opposition to the use of cryptocurrency. As the country’s anti-crypto stance was reaffirmed, many people panicked and sold their holdings, fearing a loss of profits or investments. To sustain their gains, crypto investors were seen selling smaller asset holdings in the majority of […]<\/p>\n","protected":false},"author":13,"featured_media":11042,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[152,322,1946],"class_list":["post-11039","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-china","tag-panic-selling"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/09\/image-267.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/11039","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=11039"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/11039\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/11042"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=11039"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=11039"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=11039"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}