Could India push bitcoin to the MOON ? - page 4.

btc_angela

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Quote from: cryptowaltz on July 16, 2018, 11:30:05 AM

With RBI reversing its crypto ban in India or changing statements to consider it as a commodity, do you guys think India could push the price to the moon ?

No, I honestly believed that its not enough to push in to the MOON.

Also can you share us the links as well, Last time I check the Supreme Court of India has uphold RBI crypto ban so I don't know if want you are posting is true or just fake news. And there's a hearing on July 20 if I'm not mistaken, another 3 should be hear by Supreme Court so let's see how it pans out.

esteam026

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Why did that happen? I thought that when India banned Bitcoin it would lead to a decrease in capitalization along with that it reduced the price of the market

mk4

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Quote from: cryptowaltz on July 16, 2018, 12:10:18 PM

Quote from: mk4 on July 16, 2018, 11:37:03 AM

Quote from: cryptowaltz on July 16, 2018, 11:30:05 AM

With RBI reversing its crypto ban in India or changing statements to consider it as a commodity, do you guys think India could push the price to the moon ?

Though it might not push up the price, the reverse ban definitely helps a lot in terms of adoption , so it's definitely a win whether or not the price gets affected by this or not.

Isnt adoption directly related to network growth ? And network growth directly related to increased intrinsic value of the underlying asset, which in turn would push the price to the moon : )

Even so, increase in intrinsic value doesn't necessarily mean that there will also be an increase in market value. Even if bitcoin is legalized and accepted in every single country in the world, if there's not much demand then the price wouldn't move much. Demand will always be the key factor for price increases.

ralle14

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The reverse ban alone won't push Bitcoin to the moon. There's not enough volume on India to possibly push it to the moon. It could encourage more investors in the future and possibly help Bitcoin reach the moon.

https://coin.dance/volume/localbitcoins/INR

Quote from: olafflirik on July 16, 2018, 12:48:43 PM

Only the US can to increase the price of bitcoin

Any country could move the price of Bitcoin.

tomahawk9

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Quote from: cryptowaltz on July 16, 2018, 11:30:05 AM

With RBI reversing its crypto ban in India or changing statements to consider it as a commodity, do you guys think India could push the price to the moon ?

Very unlikely.

It's not like the negative news from India about the RBI and other banks going against Bitcoin have had any effect in the market or the Bitcoin price, so the opposite might have the same effect. If anything it could mean that new capital will flow into the ecosystem so there's a chance that we could see a small increase in the short-term due to such news, but it won't be enough to push the price up to the moon.

olafflirik

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India doesn't will be able to increase the price of bitcoin. Only the US can to increase the price of bitcoin

cetald

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I doubt that all these statements can push bitcoin to the moon. There must be a more grandiose event. For example, a financial crisis in one of the developed countries.

phucngungoc

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Quote from: cryptowaltz on July 16, 2018, 11:30:05 AM

With RBI reversing its crypto ban in India or changing statements to consider it as a commodity, do you guys think India could push the price to the moon ?

I think that at the moment the crypto market is in crisis, you can see that bitcoin prices have been dropping sharply during the last 6 months, so we should only invest in short-term and wait periods recovery of bitcoin to be able to release the goods. The market is recovering lightly and I believe the bitcoin price will probably return to $ 7800.

Vineeta2oct

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There are huge investors in India who are interested in crypto currency or Bitcoin trading/Investing. If RBI or Govt allows trading of crypto then Bitcoin will have exposure to a great no of investors which will cause its price to increase.

cryptowaltz

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Quote from: mk4 on July 16, 2018, 11:37:03 AM

Quote from: cryptowaltz on July 16, 2018, 11:30:05 AM

With RBI reversing its crypto ban in India or changing statements to consider it as a commodity, do you guys think India could push the price to the moon ?

Though it might not push up the price, the reverse ban definitely helps a lot in terms of adoption , so it's definitely a win whether or not the price gets affected by this or not.

Isnt adoption directly related to network growth ? And network growth directly related to increased intrinsic value of the underlying asset, which in turn would push the price to the moon : )

Victorrrrrrr

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In case we will see an increase in adaptation process - yes. India is a huge market, that will lead bitcoin to the new high levels. Does anyone here from India? What do you think?

mk4

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Quote from: cryptowaltz on July 16, 2018, 11:30:05 AM

With RBI reversing its crypto ban in India or changing statements to consider it as a commodity, do you guys think India could push the price to the moon ?

Ehh no, in my opinion at least. It would definitely need to take a lot more than that for the price to "moon" in my opinion. There's probably better chances for price increases for the CBOE Bitcoin ETF. Though it might not push up the price, the reverse ban definitely helps a lot in terms of adoption, so it's definitely a win whether or not the price gets affected by this or not.

cryptowaltz

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With RBI reversing its crypto ban in India or changing statements to consider it as a commodity, do you guys think India could push the price to the moon ?

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