The globe has been thrown back into the world of terrorism. The blatant terrorist attack on civilians by LeT terrorists this week left 26 people dead in the Kashmir valley. This instantaneously sent the world into a geopolitical frenzy. India took a staunch reaction and took some bold steps against Pakistan, the alleged orchestrator of the terrorism.
While the world is supporting India’s stance against terrorism, Balaji Srinivasan (@balajis on X) has stated that Pakistan is not the only nation that could be blamed. Balaji highlighted that the incident can be traced as far back as the Bush government, which funded these terrorist groups for its interests. This, in turn, increased the general volatility of the region.
Suddenly, some of the world’s major economies, including India, the US, and Pakistan, are at an impasse. This could be fatal for the market as a major-scale war or retaliation would not only affect the geopolitical state, but also the traders and the overall economy.
The Tweet That Broke The Internet
Balaji Srinivasan, an American entrepreneur, tweeted a bold piece where he reduced the terror attack in Pahalgam down to its absolute basics. The tweet highlighted the US’s significant role in the broader context. He detailed the missteps that happened in the Obama, Bush, and subsequent administrations.
His tweet also highlighted that South Asia is a huge market. Therefore, political instability in South Asia can trigger financial tension all across the board. As soon as political instability gripped the nation, the prices of several prominent tokens have seen a dip.
BTC, one of the largest cryptocurrencies, has seen a 1.2% drop over the last few hours. However, this is not the only case where we can see a dip. ETH also showed a significant 1.5% drop.
The overall cryptocurrency market in India experienced a total decline of 2.3% since the attack occurred. Glassnode data suggests that Indian Bitcoin (BTC) holders are selling their holdings in anticipation of a market crash. This can be a cautionary sign that the market might head into a chaotic mess.
The Future Of Crypto In India
At this point, assessing the future of crypto in India seems dicey. Although India is one of the largest economies in the world due to its vast population and economic volume, things are not looking good.
While some believe that this could propel the country into a period of rapid development, others fear that the government might be on the brink of war. Either way, the future of the Indian economy and the Indian crypto market appears to be volatile at best.
Hence, investors in South Asian markets are concerned about the future of the landscape and are wondering what the future might hold for them.
