Do you think, India lifting the ban on cryptocurrencies will impact BTC Price? - page 5.

BlackFor3st

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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.

The effect will depend on how big is the demand in India because demand will dictate whether it can impact the bitcoin price or not. Let's say that there are plenty of users in India but the investors are only few then it cannot affect that much to bitcoin price.

But if the demand in India is kind big then it can surely impact the bitcoin price in case the government of India will lift the ban on crypto currencies. It will be a good news also to the crypto lover if in case India will lift it's ban to crypto currencies.

DabsPoorVersion

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Yes it is,

The issue of lifting the ban is a positive news for bitcoin and it can help in a way that a new country finally accepted (not actually adopted yet) and realized that banning bitcoin in their country is unnecessary. It can give a little impact to btc price but it will be very minimal.

Juggy777

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Well I'm close to the region so I think it's really big news. And it has been big for a long time to be honest. I'm very happy for the decision, and maybe we can see some of the older indian exchanges coming back to the country after leaving. RBI will be very pissed about this for sure, wonder what's their response gonna be.

I remember that you're from India and I'm glad to know that your country has finally done justice to crypto lovers, also I'm confident that a massive upwards movement in Bitcoin prices is coming. As for the response from RBI it's simple that they'll either challenge this order, or your government will pass a rule and nullify this order. Another alternative for the RBI is to make Bitcoins legal, and ask Indian government to tax it but I highly doubt that they will choose this alternative.

bhabygrim

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I think we would feel the impact of it slowly or little by little.
It would be for a long term effect on the price not just a sudden pump and dump drama again.
I also think that it wouldn't make any difference because we still have so many indian member in the crypto community even before the ban is lifted.

pooya87

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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.

Darker45

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I think so, although we could assume that even with the ban on cryptocurrencies in India right now, a lot of Indian people are still very much into crypto. We can very much feel it within this forum and in other social media sites. But a legal acknowledgement of cryptocurrencies in the second most populous country in the world would definitely affect the price of Bitcoin. It could be taken as a form of legal assurance to them. It is indirectly an encouragement for other people to finally decide to accept Bitcoin as payment or buy and sell it. The increase may not be that significant as I think the larger effect is rather gradual but, for sure, there will be an impact.

amishmanish

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Any positive news or sentiment does have an affect on price. Yet, bitcoiners have seen enough drama around the bans and un-bans (thanks to China), for this to really have much of an affect.

As far as the buying pressure from Indian is concerned, I'd be surprised if it makes much of a difference in the short term. The main difference will come in the long term as an army of Indian entrepreneurs and developers who were unceremoniously dumped due to this stupid ban will slowly find their way back and start contributing to the space. This will be an overall positive as developers can focus on India specific solutions. Eveything crypto and blockchain will no longer be untouchable.

niocexchange

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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

Topic: Do you think, India lifting the ban on cryptocurrencies will impact BTC Price? - page 5. (Read 878 times)