We know that India is one of the most populous countries active in the cryptocurrency world. And now India is officially lifting the ban
on cryptocurrency. Of course the effect is pretty big it should be, in my opinion it should be in the near future the price of bitcoin
immediately rising by this good news. Especially now that we are at an important moment, where halving bitcoin will soon happen.
So positive news like this really helps make bitcoin prices go up.
Topic: Do you think, India lifting the ban on cryptocurrencies will impact BTC Price? - page 4. (Read 878 times)
March 04, 2020, 02:43:04 PM
March 04, 2020, 01:50:14 PM
but it won't be as the news site says, it won't be a sudden upward movement with the pump coming! The main difference will come in the long run when an army of Indian entrepreneurs and developers are thrown away because of this stupid ban will slowly find their way back and start contributing to space. Don't expect huge price increases just because of that and it all depends on how the demand and supply ratio will move and how clearly it will become the cryptocurrency market in India. We will see, this is really big news around the crypto space because India is a big market and we hope they can make an impact not only on prices but to develop innovative blockchain technology because India is known for their IT expertise. If the same volume of water flows in the same river but with additional lines, it will only divide the volume into different parts but it will not overflow. Bitcoin crashed due to a Coronavirus outbreak that affected the global economy in general. Yes, news from India should be a soothing balm right now in the crypto room.
March 04, 2020, 12:26:11 PM
Even if it doesn't impact price immediately it might later in the near future, the most important for now is the ban has been lifted and people from India will be able to engage in crypto again without any worries, I think the hostility over crypto from the government of some countries is gradually dying down and the road to acceptance had begun.
March 04, 2020, 12:24:18 PM
i don't think so.
i remember a couple of years ago, i think it was in early 2017, the bitcoin price over at India started growing due to an ever increasing demand in that continent. it was so big that the difference grew as big as 40%. but that rise never had any major effects on bitcoin price in other markets (the USD value for instance). which makes me believe that this time it won't have any major effects either.
i remember a couple of years ago, i think it was in early 2017, the bitcoin price over at India started growing due to an ever increasing demand in that continent. it was so big that the difference grew as big as 40%. but that rise never had any major effects on bitcoin price in other markets (the USD value for instance). which makes me believe that this time it won't have any major effects either.
March 04, 2020, 10:20:47 AM
No, because even after this news was released we can still see the price of bitcoin being stable as it is. There is no big response even after India decided to lift the ban on cryptocurrency.
A lot of crypto businesses like exchanges and some others stopped their operations after the pseudo ban went live...Did you expect all those companies to resume operations right after the news came out? it's been like what, a few hours maybe? 
India getting rid of the ban is EXTREMELY bullish, but we'll see the actual impact of it [in the cryptosphere] in the long-term once everything normalizes and people, companies, investors, etc start getting involved with cryptos (by trading, investing).
March 04, 2020, 10:02:35 AM
Short-term? No. There will not be an impact on the price on this news from India. It has to be more than just accepting it in their region in order to start the gears and keep it turning, though it is already a good start for the momentum to build up. Besides, think of it as opening a new pathway for the waters to flow. If the same volume of water flows on the same river but with an additional pathway, it will just divide the volume into different parts but would not overflow. It has to be more than that.
March 04, 2020, 09:16:14 AM
It's quite obvious isn't it ?
If there is no ban on cryptocurrencies in India, it's obvious that more people will now get involved with crypto.
We don't know exactly how many people will be attracted to crypto at this stage but as time passes by, I am quite sure that the amount of people getting involved with increase steadily.
As the amount of people will increase, it will hinder BTC's price and movement and will surely increase the growth of bitcoin as well.
If there is no ban on cryptocurrencies in India, it's obvious that more people will now get involved with crypto.
We don't know exactly how many people will be attracted to crypto at this stage but as time passes by, I am quite sure that the amount of people getting involved with increase steadily.
As the amount of people will increase, it will hinder BTC's price and movement and will surely increase the growth of bitcoin as well.
March 04, 2020, 09:05:25 AM
Did it impact when the ban was put in place? No!
Will it impact when the ban is lifted? No!
Unfortunately, no matter how large the country is in terms of population, it has close to zero effects on bitcoin.
The major impact will be on the entrepreneurs who were trying to use blockchain for India-centric use cases/ scams..lol..Some of the old alts still have a lot of Indian devs working on freelancing or part-time basis. This had gotten affected due to the ban as people are pretty much afraid of regulations out here. Unlike the west where people are willing to risk a lot for their libertarian ideals, the need to sustain oneself is felt more than to fight for ideals.Will it impact when the ban is lifted? No!
Unfortunately, no matter how large the country is in terms of population, it has close to zero effects on bitcoin.
This is true of the working population in most aspirational societies in developing countries. My hope is that people won't be backing off from bitcoin based projects thinking that there isn't going to be any money there. Its a net positive to the ecosystem here but i do agree that it won't affect BTC price noticeably.
March 04, 2020, 08:57:30 AM
We think this is huge for the crypto world looking at the current BTC price graph.
Comment below your opinions.
Comment below your opinions.
Knowing India has many cryptocurrency players, lifitng its ban could mean a challenge and an encouragement to other Bitcoin users. Once they heard that the ban is lifted, there will be lot of players who will dig in, and possibly, BTC's price graph would change. What we don't know is if it will come down or go high if the ban is lifted - but possibly, it would be the latter. It can bring positive news as well as signal for other countries (if it would be a big news) to try to invest also in Bitcoin. Though there was no major impact in BTC, as the whole of India didn't experience the ban, its come back can surely make Bitcoin more alive.
March 04, 2020, 07:57:27 AM
We think this is huge for the crypto world looking at the current BTC price graph.
Comment below your opinions.
Firstly of all, i want the OP to understand that India don't totally ban cryptocurrencies because there are actually some part of India where crypto trading, investment etc are allow.Comment below your opinions.
Meanwhile, if we put the present situations of India economy into consideration, theres opportunity for bitcoin price to experience a positive signal if the India governments totally lift up the ban on cryptocurrencies on the area affected.
March 04, 2020, 07:32:50 AM
Did it impact when the ban was put in place? No!
Will it impact when the ban is lifted? No!
Unfortunately, no matter how large the country is in terms of population, it has close to zero effects on bitcoin.
As I was saying, basing this on the population alone is stupid.
If it were like that it would mean Bangladesh is more important than Germany, France, and South Korea combined.
Which of course you realize is stupid.
That's the slight but important difference. It might get legal, but it doesn't mean people and businesses will suddenly use it.
In theory, we have 260 000 shops in Japan accepting bitcoin, if each of them would have a single customer paying with BTC we would see the mempool full of txs like in 2018. But..it's not!
Will it impact when the ban is lifted? No!
Unfortunately, no matter how large the country is in terms of population, it has close to zero effects on bitcoin.
It will certainly have a positive impact since it's in fact a big positive news.
Per https://www.worldometers.info/world-population/population-by-country/, india is 2nd largest population in the world, so we could expect some big impact.
Per https://www.worldometers.info/world-population/population-by-country/, india is 2nd largest population in the world, so we could expect some big impact.
As I was saying, basing this on the population alone is stupid.
If it were like that it would mean Bangladesh is more important than Germany, France, and South Korea combined.
Which of course you realize is stupid.
You can 'unban' something but that doesn't mean banks will want to participate in any uptake. The business they do is entirely on their own terms. They're not obligated to take anyone or anything.
That's the slight but important difference. It might get legal, but it doesn't mean people and businesses will suddenly use it.
In theory, we have 260 000 shops in Japan accepting bitcoin, if each of them would have a single customer paying with BTC we would see the mempool full of txs like in 2018. But..it's not!
March 04, 2020, 07:23:22 AM
No, because even after this news was released we can still see the price of bitcoin being stable as it is. There is no big response even after India decided to lift the ban on cryptocurrency.
Maybe because the public expected this to happen since we have encountered a lot of lifting ban before that's why we have lesser expectation from the local crypto industry.
I must disagree with you it would surely have some impact to the price but it would be for a long term,Maybe because the public expected this to happen since we have encountered a lot of lifting ban before that's why we have lesser expectation from the local crypto industry.
What do you expect after the news has been released the people from India would go crazy and go all in into BTC?
Of course the effect or impact would take some time it wouldn't be a sudden burst like most of us are expecting.
And I don't really think that it would be huge since even before they lift up the ban on crypto there are still some Indian's who earns through crypto.
March 04, 2020, 06:14:56 AM
No, because even after this news was released we can still see the price of bitcoin being stable as it is. There is no big response even after India decided to lift the ban on cryptocurrency.
Maybe because the public expected this to happen since we have encountered a lot of lifting ban before that's why we have lesser expectation from the local crypto industry.
Maybe because the public expected this to happen since we have encountered a lot of lifting ban before that's why we have lesser expectation from the local crypto industry.
March 04, 2020, 06:02:12 AM
We will see, this is really a big news around the crypto sphere because India is a big market and we are hoping that they could make a impact not just to the price but to developing innovative blockchain technology as India is known for their IT expertise.
So let's see how it goes, we might not felt the positive effect, but for sure India's crypto market are very happy and rejoicing with this victory.
So let's see how it goes, we might not felt the positive effect, but for sure India's crypto market are very happy and rejoicing with this victory.
March 04, 2020, 05:54:46 AM
It will certainly have a positive impact since it's in fact a big positive news.
Per https://www.worldometers.info/world-population/population-by-country/, india is 2nd largest population in the world, so we could expect some big impact.
Per https://www.worldometers.info/world-population/population-by-country/, india is 2nd largest population in the world, so we could expect some big impact.
March 04, 2020, 05:51:39 AM
its a crowded country.
if just 0.5% starts to hoard, it will have a huge impact on the market
if just 0.5% starts to hoard, it will have a huge impact on the market
March 04, 2020, 05:51:23 AM
You can 'unban' something but that doesn't mean banks will want to participate in any uptake. The business they do is entirely on their own terms. They're not obligated to take anyone or anything.
I hope it does allow the locals to have a play but it has never been any type of epicentre when there was no action taken against it. Considering the Indian government's willingness to ruin their own people other measures will be put into place by them if BTC starts to get serious traction in India.
I hope it does allow the locals to have a play but it has never been any type of epicentre when there was no action taken against it. Considering the Indian government's willingness to ruin their own people other measures will be put into place by them if BTC starts to get serious traction in India.
March 04, 2020, 05:49:14 AM
We might see some effects but not in an instant and fast way. Don't expect some huge price jump just because of that and everything depends how demand and supply ratio will move and how vivid will becom cryptocurrency market in India. Anyway, I don't expect too much but some slight positive effects we might see.
March 04, 2020, 05:38:46 AM
Yes ofcourse this is because many investors will invest again in Bitcoin and other crypto currency but I think this will not give huge impact maybe thiers some increase but this will probably not continue to increase more. This is because not all investor will buy again some will wait more dump to buy at cheap price.
March 04, 2020, 04:04:52 AM
Absolutely. But as pooya says, not a sudden boom, but a steady recovery. You've to remember, when it first happened, the sentiment slowly turned negative and exchanges left the country. Individuals had their bank accounts frozen and people just generally got really mad. It was actually good for P2P though!
But now, things won't heat up, they will rather thaw. I will need to see the central bank's own official response and what they'll do after this + the new legislations.
But now, things won't heat up, they will rather thaw. I will need to see the central bank's own official response and what they'll do after this + the new legislations.
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