With the recent cryptocurrency market correction, investors in India have taken a breather from stacking their portfolios. However, in the long term, they remain bullish on the top two cryptos, Bitcoin and Ethereum.

After Terra’s debacle that led to LUNA trade at $0 last month, other tokens too corrected heavily. This was in tandem with the plunge in US tech stocks.

The global crypto market cap was down 5.27 percent at $1.24 trillion at the time of writing, CoinMarketCap data showed. The market crash comes from the fear of a global recession.

Malviya, who is a long-term investor and who witnessed the 2018-2020 bear cycle as well, has his bets on the top two cryptocurrencies, Bitcoin and Ethereum.

BTC, ETH will win, believe investors

“I have my personal belief in Bitcoin and Ethereum because I believe these two cryptocurrencies have a very bright future. Other cryptos will also make their way but right now they are in their innovation phase,” he said, adding that he is more bullish on Ethereum given its use-cases in Web3.

“I have my personal belief in Bitcoin and Ethereum because I believe these two cryptocurrencies have a very bright future. Other cryptos will also make their way but right now they are in their innovation phase,.

” he said, adding that he is more bullish on Ethereum given its use-cases in Web3

” he said, adding that he is more bullish on Ethereum given its use-cases in Web3

Malviya said, “Long-term investors don’t need to worry about taxation as 30 percent would not be anything for those who are already paying taxes for digital assets. This would be a challenge for traders in India.”