Do you think, India lifting the ban on cryptocurrencies will impact BTC Price? - page 3.

kezinaur14

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Quote from: Pmalek on March 10, 2020, 03:16:20 PM

Even though India is huge millions of people live in extreme poverty. They couldn't contribute anything. The question is how much is the middle class willing to invest? How much would the rich elite invest, if anything!?
In the last couple of weeks we have had two important headlines but it hasn't impacted the market positively. I am talking about Bitcoin being accepted as money in France.

Maybe it is just bad timing. The good news getting shattered by Coronavirus, stock market crash and the big sell off of hacked Bitcoins.

I think in the long run it'll be a net positive, while yes the timing is crap right now, legislations timings don't usually line up with community sentiment around bitcoin, it's just the way it is. I think the fact that france made it legal is also great news!

Pmalek

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Even though India is huge millions of people live in extreme poverty. They couldn't contribute anything. The question is how much is the middle class willing to invest? How much would the rich elite invest, if anything!?
In the last couple of weeks we have had two important headlines but it hasn't impacted the market positively. I am talking about Bitcoin being accepted as money in France.

Maybe it is just bad timing. The good news getting shattered by Coronavirus, stock market crash and the big sell off of hacked Bitcoins.

ukon

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

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.

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.

I think not only the corona virus can affect the price of bitcoin to $ 7,000 but this could also be the cause https://cointelegraph.com/news/plustoken-scam-moves-123m-in-bitcoin-just-as-btc-price-regains-10k
This is hot in the conversation right because it has become a scamer and has an impact on the cryptocurrency market so that this impact could have happened because of this.
But for the corona virus, I think this does not have too much impact on cryptocurrency.

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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

Without a doubt this is positive news but there is too much fear in the markets right now for this news to have any kind of positive effect, the dispute about oil crashed the price in a way we have not seen in a long time, the stock market registered one of their worst losses in history and the fear of the coronavirus is spreading, when you take into account all of those factors it seems really unlikely the price of bitcoin is going to show a positive movement during this week.

TheGreatPython

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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.

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.

FarhanAkhter

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There are huge numbers of people from India who are earning from the crypto world. I do not think lifting ban of cryptocurrency from India will have that much impact on the Bitcoin price. Besides,it will be really very good for the crypto world and also it will help the people of India to reduce their poverty by working in the crypto world. There are huge numbers of unemployed people living in India.So,if the government of India lifts the ban then it will not have any impact on the Bitcoin price.

adzino

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Depends on how much popular and demanding bitcoin is going to be in India. As far as I can see, it won't be causing much of an impact on the price of bitcoin. Remember, crypto currencies are global currency. Just a single country itself can't bring huge changes to the price of crypto currency. Even if they can, it is going to be a very short lived change. Again, even if the price of bitcoin starts to change due to trading being legal in India, it is just going to be because of a "hype" that will be created (which I also doubt is going to happen).

Ridwan Fauzi

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As you can see now how the movement price of bitcoin, we can touch $9000 again after the bearish time was taken.

The decision form government against cryptocurrency will always give a big effect from to bitcoin and all cryptocurrencies prices.

Other than that, we got another good information like Germany and Korea which give a good effect for cryptocurrency movement price.

So, there will be a huge pump in a few days ahead we will see it buddy.

fullhdpixel

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Yes, I’m very sure that if they should lift their ban on cryptocurrency it’s going to have some positive effect on cryptocurrency price. I am very sure that there are people who lives there in India that might have stopped investing in Bitcoin because of it being banned.

But, if the government should lift the ban it’s going to make a lot of people to get back into and start investing. When people start investing it will have some effect on the price and the price will start going up. Maybe the changes will not be noticeable at first but as time goes on and as the adoption increases, it will start reflecting in the price. This is what I know for sure. Would be good if other countries will lift their ban on Bitcoin as well.

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Quote from: niocexchange on March 05, 2020, 06:15:14 AM

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

Read the full report.

today I read the news of celebration by the exchanges and some people:

indian crypto exchanges resume fiat services 24 hours after supreme court ruling

But this is a problem that is still far from over. According to what I read last year, there is a bill that is being studied that is not good for cryptos in India. In other words, it is a war that will win who has more political support. I often think that if the crypto community has a lot of support from politicians, then the future of cryptocurrencies will be very good. Of course, politicians are not trusted, but they are the ones who make the important decisions

niocexchange

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

Read the full report.

XCANA

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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.

We're going to feel the impact of this victory from India, this might not be eminent as such but definitely we're heading to another bubble. The victory is for the whole cryptocurrency community and worthy of celebration. Hope to see other similar countries facing such issues of cryptocurrency ban, getting victory like India. This has clearly shown to us that: the cryptocurrency has come to stay no matter what the hatters bing onboard. This is another victory for us.

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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.

it is very difficult to know. for example:

- I don't know how many people in India bought bitcoin using their bank cards

- I don't know how much money each person bought bitcoin in India

Without these two points that I mentioned, it is very difficult to know what is the impact that this news can bring.

The only thing I know is that countries like the United States, China and Japan have a big influence on the crypt markets.

imstillthebest

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yes of course . this is a positive news related to crypto so yes itl have a good impact as well on the price of btc .

you didnt provide extra info , im just curious if what are the reason of the ban and if what are the dates the ban have started and ended. right now i can see that the price of btc is now starting to recover again , it could be that the lifting of ban start to taked effect .

hmm thats nice. also id be more happier if the issue on the corona virus will be solved because it contradicts on the halving event too .

libert19

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It would (and already did) affect the premium on crypto prices in India however no effect on global markets, neither there was any effect when ban came in place.

GideonGono

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I, at the very least, think so since it is quiet a significant news. I expect that other countries would have heard about what the ruling of the Supreme Court of India with its take with cryptocurrencies. Though I do not expect much of an increase but it would do good to establish the current mood of cryptocurrencies and might as well bethe starting point of the following increases in the price of Bitcoin.

pakhitheboss

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it should!

But, It will not affect the market significantly. The ban was imposed in 2018 and after that there were a lot of negative news about Bitcoin that made headlines in the national media.

Things will change but you need to waite for a period of six month or so.

kryptqnick

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Quote from: pooya87 on March 04, 2020, 02:19:20 AM

of course it will, any action that helps ease the adoption of bitcoin specially in a country with a lot of people who have shown a lot of interest in adopting bitcoin. but it won't be the way the news sites are saying, it won't be a sudden bullish move with a pump coming! it will be slow growth as more and more people adopt bitcoin. even though we may see some short term jumps too but the main rise will be in the long term.

I think that whether the sudden pump occurs after this big news depends a lot on the media coverage. If over the next couple of days no major hacks or negative statements by popular people are not in the news, whereas the news about India is popularized, I believe it could bring a pump. The slow growth is better in the long-term perspective, and I guess it'll happen anyway, but recovery would not hurt, as Bitcoin was doing pretty well around $10k for a while, and now it's down.

By the way, everyone, Bitcasino is running a giveaway with pretty good conditions, allowing people to predict Bitcoin price and win money. Check out here if you're interested.

Artemis3

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This allows the people from India to save their money from the ill management of their government to their fiat. It gives them an alternative for keeping their savings, regardless of politicians.

Of course an increase in demand is going to put some pressure up, little or much, it will depend in how much demand it gets. The startups can even restart a source of wealth what was being stupidly blocked by (ignorant) politicians.

Its good news. And yes the second most populated country in the world should weight something.

coolcoinz

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Just as negative news (bans) influence the price, positive ones (ban lift) also do. We could all witness what happened to the price of Bitcoin when China banned it in 2018. The ban in India was much less influential, but still, even 5% raise would be a nice thing. At this point it's hard to find things that don't impact the price of Bitcoin as exchange hacks, ETF denials, bans, stock market crashes, viruses, even tweets by some rich traders can do it.

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