Indian financial markets plunge, bitcoin likely to crash.

Indian stock markets witnessed havoc on Monday morning as over 150 stocks hit the lower circuit in the opening tick with 340 creating their new 52-week lows. The crypto market is also likely to plunge amid the global pandemic.

Indian stock markets opened on Monday morning, and everything went into shambles. Sensex plunged 2991 points to 26,924 while NSE benchmark Nifty fell 824 points to 7,903. According to The Economic Times report, investors lost over Rs 10.17 lakh crore in the market mayhem.

 

Indian stock markets crash amid the global pandemic.

The price of the leading cryptocurrency so far has only reacted in accordance with the crash in financial markets all over the world, and the pattern seems to an ongoing. The total cases of COVID 19 reached above 415+ in India this morning, and several states have gone under lockdown. The impact of the global pandemic was evident on the Indian stock markets. 

 

Bitcoin reacts to crash in financial markets.

The price of bitcoin has been responding to crashes in the financial markets all over the world. As the COVID 19 spread continues, the impact is evident in financial markets all over the world. At the time of writing, the price of the bitcoin is trading at just above $5,875. The short term prediction for the leading cryptocurrency is still quite bearish, and the price is expected to fall below the $5,000 mark. Governments all over the world are announcing stimulus packages to combat the financial impact of the coronavirus pandemic.         

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Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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