Don't panic sell or short sell cryptocurrencies: Zebpay's Avinash Shekhar
Cryptocurrency prices crashed in India early Wednesday after a government said it is set to ban all the private cryptocurrencies in the upcoming Winter session of the Parliament. While the prices recovered later, Avinash Shekhar of ZebPay suggested that investors should not engage in short selling or panic selling.“Our belief is the government will move towards regulation rather than a ban … So from our side, the message to investors is: Do not short sell. And do not sell your crypto below the market price. The government will come out some with something positive,” Shekhar told CNBC-TV18. Talking about the government’s announcement to bring about a central bank digital currency (CBDC), Shekhar said CBDCs will help grow the cryptocurrency ecosystem.
First Published: IST
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