Do you think, India lifting the ban on cryptocurrencies will impact BTC Price? - page 2.

stompix

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Quote from: alexsandria on March 13, 2020, 03:42:50 AM

Of course yes there will be huge impact on the bitcoin price and the market graph on the news that the India lift the banning of cryptocurrencies into their country. We also think that there would be a huge impact on it by just looking the market graph of the coins and bitcoins that there will be really a huge impact of it.

Do you actually think before posting?
What graphs should we look at ?
This one? Do I have to stand with my head down and legs up to see the growth?

Nobody cared when India "banned" bitcoin, nobody cares if India unbanned it.
Despite having 1.5 billion people, India means close to zero for the market, 90% of the people there can't afford to buy anything other than food, how do you think they will manage to invest at much as the other countries?

And right now with the current situation nobody gives a damn about the rest of the world, everybody is focussed on Europe closing down (I'm in self-isolation right no btw), if the EU stops you won't be seeing growth in anything for a year at least.

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Quote from: niocexchange on March 04, 2020, 01:30:21 AM

We think this is huge for the crypto world looking at the current BTC price graph.

Comment below your opinions.

EDIT

Here is All you need to know about #Cryptocurrency Trading becoming legal in India

Of course yes there will be huge impact on the bitcoin price and the market graph on the news that the India lift the banning of cryptocurrencies into their country. We also think that there would be a huge impact on it by just looking the market graph of the coins and bitcoins that there will be really a huge impact of it.

leeboy

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This may bring a lot of new users with thier money in crypto but current situation is not looking so attractive

niocexchange

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Quote from: Arcas on March 12, 2020, 09:33:31 AM

Need most bigger and effective country to make other will allow what have to do, if small country allow and legal bitcoin but many bigger country not legal using bitcoin keep not give positive effect to make bitcoin on the top price.

I would contradict your statement, sir. How do you think India is a small country? With the amount of educated population and Business Leaders right now, it is clearly unfair to say something like this.
Even if we are Estonia based cryptocurrency exchange still we see the Indian market as one of the top markets.

Arcas

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Need most bigger and effective country to make other will allow what have to do, if small country allow and legal bitcoin but many bigger country not legal using bitcoin keep not give positive effect to make bitcoin on the top price.

pawanjain

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Nothing lasts forever

India lifting the ban is surely a positive news but the thing to consider here is the Coronavirus impact on the market that has taken the market down like a storm.
The whole stock market has been affected due to this and the people are in a state of panic. The crypto market is facing the biggest losses since bitcoin is down by more than 30%.
Bitcoin has dumped from $9000 to almost $6000 now and I guess it will pretty hard for it to recover the price before the halving.

Meowth05

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This ban lifting will surely impact BTC price because this will open new market for people to do trading and such safely. An addition to that having the cryptocurrency being recognized as a safe item for monetary purposes. One country recognizing BTC as a stable currency means that it is a win for the cryptocurrency market.

White Christmas

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Quote from: niocexchange on March 04, 2020, 01:30:21 AM

We think this is huge for the crypto world looking at the current BTC price graph.

Comment below your opinions.

EDIT

Here is All you need to know about #Cryptocurrency Trading becoming legal in India

I think there would be a positive impact on the market value of bitcoin and as well as the other coin due to the lifting of banning of cryptocurrencyin india because as we are now accepting an adaptation of country today cryptocurrency or bitcoin will be have a positive impact as well as the economic growth of the country so i assume that there would be a positive impact and large impact to the price of the bitcoin right now.

BuNga_cute

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Of course the lifting of the cryptocurrecy ban in India has had a positive impact on the price of bitcoin. As we know the population of India
including the most in the world besides China. So with the legal bitcoin now in India, Indian citizens are very likely to buy bitcoin and can
be used in daily life. With Indians who are likely to increase who know cryptocurrency, possibility is likely to have an impact on the demand
for bitcoin on the rise and this will also have an impact on the price of bitcoin on the market.

Chris Barth

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From my own perspective, YES; It would have an impact. This is because a lot of Indians are into the crypto world. Some of them are bounty hunters, some of them are traders, etc. If the ban is lifted, all the Indians who were not sure to step in or step out would be know their grounds and I'm sure they are many of them. I still remember seeing some comments on a thread where some Indians were complaining about the ban. That alone shows how enthusiastic they are. And mind you, this impact could be negative or positive. I just hope that the ban be lifted (for the growth of bitcoin and other cryptocurrencies and for the betterment of all Indians).

Vishnu.Reang

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Those who are outside India may be unfamiliar with the situation in India right now. Let me explain a bit. In India, the Supreme Court and the government are having serious disagreements on a number of issues, and the legality of cryptocurrency is just one of these topics. And another thing that everyone should remember right now is that very few among the government ministers are having a good amount of knowledge about cryptocurrency. And therefore, the bureaucrats are the one who formulates laws and regulations regarding this subject.

A few months back, one of these bureaucrats (Subhash Chandra Garg, the then Finance Secretary of India) came up with a suggestion to impose a 10-year jail term on anyone holding cryptocurrency. He formulated a detailed regulation on the ownership of cryptocurrency, which included harsh punishments to anyone even remotely associated with crypto. Fortunately for us, this draft regulation never got approved by the government. Mr. Garg was fired from his position in 2019, after he entered in to a bitter duel with the leadership of the Hinduist RSS, over the subject of sovereign bond scheme.

Mpamaegbu

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Quote from: TheGreatPython on March 10, 2020, 11:56:55 AM

I don’t know of this sure but there are a lot going on that seems to be affecting the Bitcoin price right now, and not just bitcoin but every other assets and stocks market.

There is Coronavirus fear and it seems to be affecting everything, the price for everything has been decreased to a very low, Bitcoin has fallen back to around the rate of $7,000 after making its to $9,000 plus and apart from that miners has been another case since they started selling out less of what they mined. There are still a few other things that may have possibly affected the price of Bitcoin and caused it to fall.

Of course the global crisis in the health sector caused by the novel coronavirus has hugely hampered the economy. All businesses are directly or indirectly affected now, whether we admit it or not. And talking about the crash in the crypto industry not affecting only Bitcoin, we know Bitcoin leads the industry. If it bleeds, the rest bleeds.

btc78

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well it takes effect for a while because it followed by South Korean adoption of Bitcoin also but just few days after?

here we are dumping and dumping continuously and no sign of growing up again even there are many Good news happens recently.

i think some part of manipulation are taking place this days because in past these kind of good news means pump for market as i observed opposite is happening nowadays .

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Quote from: joinfree on March 11, 2020, 05:09:12 AM

The impact of this recent update from India is little to no in terms of its impact on the price of bitcoin. India is a developing country and does not have much investors putting in any huge amount of money into the investing in cryptocurrencies. The countries whose approval of bitcoin will cause a major rise will be China, USA, Russia, Germany etc.

One of the largest country today already accepted the use of cryptocurrency and that is the Indian today the market price of the bitcoin and all of the other coin are fall down because of the pandemic virus that is the covid 19 and some of the people today are worried about the cryptocurrency if India make a move like the other country who is already adopted the use of crypto I think they will change into the whole market. But still, we are looking forward to the acceptance of the other country for the use of the crypto because it is the most secure and fastest transaction without any hassle of payment also we are getting avoid the contact to the scammers because all of the transactions are safe and legal.

conected

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Quote from: joinfree on March 11, 2020, 05:09:12 AM

The impact of this recent update from India is little to no in terms of its impact on the price of bitcoin. India is a developing country and does not have much investors putting in any huge amount of money into the investing in cryptocurrencies. The countries whose approval of bitcoin will cause a major rise will be China, USA, Russia, Germany etc.

- I also agree that the impact in the removal process of this ban will affect bitcoin's value very little but the reason is not your analogy, the reason I think about is the hype of information, topics and information surrounding bitcoin is always an opportunity to trigger volatility in the market, investors like FOMO such information, so events from India will cause slight fluctuations in the market. However, the accuracy and probability of this information is not too high, observing the direct movement will probably see more opportunities, instead of relying on information.

hermawan9416

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Now, perhaps not, but in the future, this will seriously affect the price of bitcoin.

joinfree

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The impact of this recent update from India is little to no in terms of its impact on the price of bitcoin. India is a developing country and does not have much investors putting in any huge amount of money into the investing in cryptocurrencies. The countries whose approval of bitcoin will cause a major rise will be China, USA, Russia, Germany etc.

Pamadar

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Quote from: Debonaire217 on March 11, 2020, 03:14:25 AM

Perhaps, it can affect the cryptocurrency as a whole, but will not impact that much. We all know that the country of India has people that are widely exposed to computers and technology. So, there's no wonder that they know how to acquire cryptocurrency even without Government knowing it. And with that regard, I highly believe that they already contributing to the cryptocurrency space and the lifting of ban to their country will make them to access crypto easier. Who knows, maybe it will be a way for them to invite others who aren't into crypto to figure out how good cryptocurrency is for seamless transactions.

They've got a lots in terms of populations, if most of them will be exposed and begin to use crypto since the government already lifted the ban of using it from their country, the chance to accumulate more supports and more interested people to invest and work inside this industry. Crypto business will be more healthy and the impact might be positive to the entire market.

Debonaire217

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Perhaps, it can affect the cryptocurrency as a whole, but will not impact that much. We all know that the country of India has people that are widely exposed to computers and technology. So, there's no wonder that they know how to acquire cryptocurrency even without Government knowing it. And with that regard, I highly believe that they already contributing to the cryptocurrency space and the lifting of ban to their country will make them to access crypto easier. Who knows, maybe it will be a way for them to invite others who aren't into crypto to figure out how good cryptocurrency is for seamless transactions.

Kakmakr

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There was a small bump in the price after the announcement was made that both India and South Korea was willing to allow Bitcoin to be used in their country. The "use" was not unrestricted though, because it looks like this would be accompanied with a lot of regulations to restrict Bitcoin users and merchants to strip pseudo anonymity. Roll Eyes

India are predominantly a country with a large amount of people that are living from hand to mouth, so I doubt that there would be millions of poor people buying bitcoins. The people that should be buying bitcoins are the workers from India, working in other countries and sending money home to their families. Wink

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