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Crypto prices are plummeting in India as the country mulls ban on digital assets — and its creating an opportunity for savvy investors | Currency News | Financial and Business News

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Prices for bitcoin, shiba inu and dogecoin dropped on India’s most popular crypto exchange.
The declines occurred as the country tries to crackdown on private cryptocurrency.
The declines created an opportunity for savvy investors to arbitrage, but it was hard to capitalize on.

Cryptocurrencies dropped in India Wednesday morning as the country mulled a crackdown on digital assets — and its opened up opportunities for witty investors.

According to an article, shiba Inu coin and dogecoin fell more than 20% on WazirX in India, while Binance and Kraken were relatively unaffected. According to the article, Bitcoin lost 14% on WazirX while it dropped 0.5% on Binance. Coindesk reported that Tether, a stablecoin fell on the exchange but remained steady elsewhere.

India’s proposed law would ban all private cryptocurrency, which could lead to price declines on local exchanges. 

Investors had the opportunity to purchase the dip and make a profit elsewhere when the price dropped. According to CoinDesk, arbitrage opportunities are most beneficial for small-time investors in India because larger market makers avoid India due to lack of regulatory clarity. 

The trick was to figure out how to transfer funds from one exchange to another after you have purchased the assets at a lower price. It’s not simple. WazirX posted that the app was experiencing trading delays. Users were frustrated and replied that they couldn’t move their crypto. The company responded within hours to the tweet, stating that the problem had been resolved. 

“We’d also like to reiterate that WazirX’s open order book does not determine or control the price for any crypto on the exchange,” the platform wrote in a tweet. “There will always be differences between exchanges and countries, so there will always be some variation. Depending on the demand and supply

The existence of crypto arbitrage opportunities has been well documented. However, prices can vary among exchanges. Insider 2017 reported that the market is “diffused and unregulated” and “disjointed”.

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