Just as we have understood the principle of digital assets, the crypto world is going through turmoil. The Crypto industry is turbulent, and the market always has high and low tides. Let us try to breathe, relax and understand this better.
The Russia- Ukraine War
The future is unpredictable. On 24th Feb 2022, when Russia started to invade Ukrainian territory, nobody knew that the conflict would run for 79 days! This tension between the two countries slowly caused ripples in the world’s economy. As the pressure grew and days passed, countries like NATO — Belgium, Canada, Denmark, France, Iceland, Italy, Luxembourg, the Netherlands, Norway, Portugal, the United Kingdom, and the United States stepped up to support Ukraine.
Inflation Rate in India and USA
According to the statistics ministry, India’s retail inflation, measured by the Consumer Price Index (CPI), surged to 7.79% in April 2022 due to rising fuel and food prices.
This surge is not surprising, as Indian exports amounted to USD 2.6 billion while imports from Russia amounted to USD 5.48 billion between April 2020-March 2021. As per Russian figures, bilateral trade amounted to USD 9.31 billion, with Indian exports amounting to USD 3.48 billion and imports amounting to USD 5.83 billion.
India is Ukraine’s largest export destination in the Asia Pacific and the fifth largest overall export destination. Pharmaceuticals account for the majority of Indian exports to Ukraine.
As per the US Bureau of Labour Statistics, The Consumer Price Index increased 8.5 per cent for the year ended March 2022, following a rise of 7.9 per cent from February 2021 to February 2022. The 8.5-per cent increase in March was the most significant 12-month advance since December 1981! How can we expect the crypto market to remain unaffected by this surge?
To tighten the liquidity in the market and curb the rising inflation, the FED, revised the rate of interest. The FED maintained an interest rate of 0.5 between 13th Mar and 1st May. However, there was a sudden change in the rates. The change was so quick that between 1st May 2022 till 7the May 2022, the FED funds rate was raised by half a point to 1%. The experts expect the FED to revise this rate by 0.5+ with each passing month as a corrective measure to get a hold on the inflation and save the US economy.
In the last 180 days, the USD — INR exchange rate was the highest on 12th May 2022 (INR 77.458 = 1 USD).
Let’s talk crypto, now!
The first and the second week of May 2022 remind us that if we think of crypto investment as a short-term capital gain plan or get rich quick scheme, we are committing a mistake!
For many reasons, there is panic in the market. Newbie investors are worried about what would happen to their assets. These newcomers are mostly those who join the market when the market is bullish and think that it will only rise. They are the ones who panic the most!
Imagine what would happen when the narrative of pro investors or seasoned traders prevails in the media houses, news pieces and social media posts. It would not be wrong to say that there will be less FUD — Fear, Uncertainty and Doubt around cryptos. Alas, the government backs the media and has control over the content. It can significantly influence the sentiments of the masses.
The argument is that bitcoin and other major currencies are at their 2017 rate, or when the COVID pandemic hit in 2020. The public was grieving for the losses they had to go through in the second week of May. But surprisingly, as of 13th May 2022, the BTC price is 23,59,778.42 INR, which (astonishingly, again) is +1,18,400.47 (5.28%) since 12th May 2022, at 7 AM UTC.
When there is havoc in the market, it is essential to go back to basics, contemplate, go easy and try not to make rash decisions based on emotions.
In less than a minute, this video explains how you can see a market dip positively. When the prices of crypto assets go down, it takes us back in time to buy those digital currencies at a lower rate. It also helps compensate for the loss of delay in starting the crypto journey.
What can you do during this time?:
Focus is always good. But sometimes, it is better to defocus and look at the bigger picture. Zoom out and try to analyse the market trend. You will see that the turbulence of a few weeks is just a hiccup in the entire graph of how bitcoin or other cryptos have performed. Even at its lowest today, the BTC price is $30,676.27USD, which is 290.57 times higher than its 2013 price of USD 105! Isn’t that revolutionary?
Try different currencies:
With more than 18,000 digital currencies and tokens available today, you have varied options to explore and try these new digital currencies. Of course, not all of them are active or alive to trade, but Unocoin has listed the major ones. Unocoin, Crypto Ka Super App, has registered more than 80 coins on its platform. With an inbuilt Crypto Basket feature, you can sort all the cryptos as per the market cap and choose multiple currencies to put your money in. Suppose you want to try new coins, understand the market better, or plan to diversify your portfolio. In this case, you can take the help of a crypto basket.
E.g., you wish to put 10,000 INR into crypto. You want to know which crypto is performing the best at the moment. You explore the Crypto Basket mini-feature on Unocoin’s application. You sort the assets as per their market cap or volume. Now, you can add 10,000 as INR into the selected coin(s) and distribute your INR 10,000 in more than one digital currency. You will also be notified what the minimum amount of INR you need to put in a particular coin is. This way, you can put your entire *planned budget* into multiple assets, grow your portfolio, make the most of the market dip, try new coins, unleash the possibility of currencies besides BTC, ETH or USDT. It is like buying a bouquet of flowers that are different in colour, smell and elegance.
Watch this video to know more about Crypto Basket:
- Diversify your crypto portfolio, put your INR in 80+ digital assets in one go: Crypto Basket: https://youtu.be/gaJlv4imTNY
- Never put all your money in one basket; place multiple orders in one go: Crypto basket https://youtu.be/ZdOr2xrWpPU.
- Unocoin’s Crypto Basket is explained in one minute: https://www.youtube.com/shorts/IC_IfI-bg7s.
Start early, start small, scale fast:
If you still haven’t put your money into crypto, this could be a great time. It is always someday vs today. Why not today? You might wonder how I can start my crypto journey when I don’t understand the basics.
Why: Because it is never too late!
What: Try a Systematic Buying Plan.
Where: On Unocoin, in the comfort of your home.
When: Right now!
How: Download the application.
With Unocoin’s Systematic Buying Plan, you can use your INR or fiat money to buy popular and *relatively* stable coins like BTC and ETH. If you don’t have a huge budget, you can start with as little as INR 10 in a month. Yes! Just INR 10 in a month to buy Bitcoin or Ether or both. If you have a better risk appetite, you can choose to have a daily or weekly plan, instead of a monthly one. You can also, always choose if you would like to buy on
ly BTC or ETH or both. You can invest any amount of money and close the plan, anytime you want.
These videos will help you understand more about the Systematic Buying Plan:
- Start a Systematic Buying Plan with your Bitcoin: https://youtu.be/TD814TECJHs.
- Start a Systematic Buying Plan with your Ethereum: https://youtu.be/VOQnwHM-830.
- Start SBP using BTC: https://youtu.be/Ys0TT3gvwQw
- Start SBP using ETH: https://youtu.be/MDnCsroZBGA.
Do not let anything or anyone set you up for panic. It is during these times, your logical reasoning to try crypto is tested. These are the times that teach you a lot about your understanding and maturity about cryptos. Times like these also help you try new markets and opportunities, explore new coins, build a stronger community of like-minded crypto enthusiasts and enrich your trust in blockchain technology.
Unocoin is India’s first and the most secure bitcoin trading app. This exchange app was founded in 2013. You can buy and sell bitcoin instantly using the Instant Buy and Sell feature. Not just this, you can also buy ETH and Sell ETH in no time. With more than eighty-seven coins listed on this best cryptocurrency exchange in India, you can also accept bitcoin from your friends from any location. You can also know which cryptocurrency works best for you with the price ticker and notifications. The most popular cryptocurrencies like Bitcoin (BTC), Ether (ETH), USDT (Tether), BNB, Ripple (XRP), Cardano (ADA), Solana (SOL), Binance USD (BUSD), Dogecoin (DOGE), Polkadot (DOT) and other popular altcoins can be traded on the go. The new Android and iOS applications make Unocoin the best cryptocurrency app. With the unique feature of the Systematic Buying Plan, you can buy and sell bitcoin and Ether periodically. What more? You can start your crypto journey using SBP for as little as INR 10. With another exciting feature called Crypto Basket, you can diversify your crypto portfolio based on market capitalisation (Market Cap) or Volume. These two excellent features make Unocoin the best cryptocurrency platform.
Love Crypto Coins. Love Unocoin.
Please find the list of authentic Unocoin accounts for all your queries below:
- YouTube Channel: https://www.youtube.com/c/Unocoin/videos
- Newsletter: https://medium.com/subscribe/@Unocoin_growth
- Blogs: https://blog.unocoin.com
- Instagram: https://www.instagram.com/unocoin/
- Twitter: https://twitter.com/Unocoin
- Facebook: https://www.facebook.com/unocoin/
- LinkedIn: https://in.linkedin.com/company/unocoin
- Telegram Group: https://t.me/Unocoin_Group
- Telegram Channel: https://t.me/+fasQhTKBsfA5N2Zl
- Telegram: https://t.me/UnocoinSupport_Bot
- E-mail id: [email protected]
- Contact details: 7788978910 (09:30 AM IST — 06:30 PM, Mon — Sat)
- App store link: https://apps.apple.com/us/app/unocoin/id1030422972?ls=1
- Playstore link: https://play.google.com/store/apps/details?id=com.unocoin.unocoinwallet
Crypto products are unregulated as of this date in India. They could be highly volatile. At Unocoin, we understand that there is a need to protect consumer interests as this form of trading and investment has risks that consumers may not be aware of. To ensure that consumers who deal in crypto products are not misled, they are advised to DYOR (Do Your Own Research).