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Exclusive-WazirX CEO Nischal Shetty on Crypto Crash, Issue with bank, and Shiba Inu listing and more

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  • Tip Bones

It has been an interesting month for the crypto market. There was a lot of positive sentiment in the first week of May, ahead of Elon Musk’s Saturday Night Live appearance, which helped Bitcoin, Ethereum, Dogecoin and other cryptocurrencies touch a new high. There was a dip in the second week after Tesla’s decision to not accept Bitcoin as payment, following some correction before the slide that came on May 19. All the major cryptocurrencies went down on the mentioned date, wiping off close to $1 trillion from the crypto market.

This wasn’t the first time when the crypto market saw a dip but, a graph this ugly was unheard of, leading to some panic among investors especially those who had just bought crypto coins.

“If it was for the first time, I would say that you should always be concerned. But, if you see the history of cryptocurrency, there have been multiple dips of 10 to 20 per cent in Bitcoin. This usually affects other cryptocurrencies as well. Something that’s new is probably a 100 per cent of 80 per cent dip. Surprisingly, crypto has always emerged stronger,” Nischal Shetty CEO and Founder WazirX, told an exclusive conversation.