Moneycontrol

Budget 2023Budget 2023

PARTNERS

  • Tata AIA Life Insurance
  • Hafele
  • Motilal Oswal
  • SMC Global Securities Limited
  • SBI Life
  • DSP Mutual Fund
Upcoming Event : LeapToUnicorn - mentoring, networking and fundraising for startups. Register now

Moneycontrol Masterclass | Crypto slump to last up to 18 more months

Indian crypto exchanges are facing additional challenges on taxation and withdrawal of support from banks in the absence of regulations

May 19, 2022 / 12:47 PM IST
Panic and shock gripped the market over the past few weeks as Bitcoin
tanked below $30,000 twice in a week, its lowest level in 16 months.

Panic and shock gripped the market over the past few weeks as Bitcoin tanked below $30,000 twice in a week, its lowest level in 16 months.

The cryptocurrency market has gone into a freefall over the past week and experts believe this is just the beginning. In fact, many say that this bear market will last for 12-18 months more.

Speaking to Moneycontrol’s Chandra R Srikanth in an episode of Moneycontrol Masterclass, Darshan Bathija, co-founder and CEO at Vauld, said: “The optimist in me would like to think the bear market will last six months but realistically it will last 12-18 months.”

According to him, there are expectations of some consolidation in prices over the next 12 months.

Kashif Raza, founder of crypto education platform Bitinning, reiterated that the crash was more severe this time owing to overall weak global cues, including falling stock markets, rising inflation, and tightening of liquidity with central banks globally increasing interest rates. Raza too believes that this only means that the bearish trend is here to stay.