Bitcoin Forum

After RBI's Announcement to Ban Cryptocurrencies Bitcoin Falls Down To $5400

After this news breaking out, Bitcoin and Ethereum dropped down significantly in Indian exchanges like Unocoin and Zebpay. Bitcoin quickly began trading at Rs. 3,56,000 ($5,400) and Ethereum began exchanging at Rs. 19,500 ($298).

News bad news like that greatly affects bitcoin prices and is very harmful, but this could be a good opportunity to start buying again.

Actually, this is the price I wait for after the bitcoin price goes up, the very low price is very profitable for me to buy bitcoin, and take this opportunity.

two FUDs are in this single sentence.
1. they never banned cryptocurrencies: https://www.newsbtc.com/2018/04/06/dont-believe-the-fud-india-has-not-banned-cryptocurrency/
2. bitcoin never fell to $5400. it still is between $6500-$6900

what really happened was that a panic was spread and some disruption in the Indian banking system regarding Zebpay exchange which meant people withdrew their bitcoins from there and closed all their orders because they didn't want their money to be caught there. this sudden emptying of orderbooks led to a thin one which was easily dumped into and price on that exchange fell against INR.

Why bitcoin day by day go down

a lot of bad news that happened recently that makes bitcoin prices are declining, what needs to do now is. sell but we lose or hold back until the price stabilizes even though it may be long.

Now everyone will believe in the fall and bitcoin will start to grow

Even though the bitcoin price has decreased I will keep my bitcoin and will add more bitcoin to get a low price, and that's my chance to get more results.

The best time to buy again is when this chain of bad news ends. The only way is by finally having govts agree on regulations.

If there is such a big difference, arbitrageurs are bound to move in. They will pick up these bitcoins at dirt cheap rates, send it to their friends abroad or even sell them directly at international exchanges. Very soon, this price differential will disappear.
Exchanges are right now operating as usual, as banks have been given 3 months time to exit relationships.

Exactly, it's another fud without any basis, I still seen bitcoin ranging $6500-$6900, basing with coinmarket, I think we should continue thinking
positively instead of creating some wrong interpretations of certain events, like others who believes from this investment currency, just in case
that the value fell to that level, better to buy more and wait till the rise show up again.

bad news never ends. there is always some bad news coming out and some idiots trying so hard to make it into FUD but the market trend is important. for example last year we have had lots and lots of bad news like these days but the trend was up so nobody paid them any attention!
now the trend is down and people are so interested in the negativity while there are lots of positive news about bitcoin!

yesterday actually there are signs of rising, but now down again. and even worse, etherum also come down. it seems like this will be a holding for a long time.

it seems that it will not happen if viewed from the market today bitcoin prices around $ 6800 and the market is green

This is the right time for all investors to buy more bitcoin because the price dump so low,there are some so many speculations that bitcoin will go down below $5k but for those who bought at high price don't worry because I believed bitcoin will highly increase until the end of this year.

It is not a matter that bitcoin price is falling and if we are a thinking about bitcoin then the bitcoin will show a steady growth in the future soon and for us bitcoin is improving the countries economies and over all bitcoin is good to hold for the future and bitcoin will not fall below than $6000 now but it will go up.

Negative news affects bitcoin price per that moment and after that it starts increasing again, so when the price drops one can take advantage of it.

The price is more than that now, both for Bitcoins and Ethereum. I guess the time is probably near where the price or value of the bitcoin become more stable. It's been quite a few weeks since the price had reached $10000 mark. It's just swimming between $6000-$8500. A stable currency implies the strength of it, don't you think?

wew, I'm glad that they not banned cryptocurrency in India, I'm looking the bitcoin chart right now still around $6800, it's not down at $5,400 that OP just spreading FUD.

Yes, now you can buy a bitcoin at low price.

It will crash to $1000 in 2021 after block reward halving! Enjoy your ride before that!

Instead of panicking it is the right time to buy bitcoin while the price in the marketcap was down, bad news and FUD news was always there they are trying to manipulate bitcoin as they can do. I think that issue in RBI country of India there are some big international politician whos behind on that and government feed those social media's bloggers and broadcasters to spread a FUD news.

For me whatever happen I still holding my bitcoin and other cryptocurrencies, this is not first time happen that banning bitcoin just like what happened last year banning in China but on December last year bitcoin will hit the highest price. So, keep holding the Idia's problem are still their problem, they are not the only bitcoin holders.

Their was never a time I saw bitcoin price get to 5400$. The news of India banning cryptocurrency was actually a FUD news and newbies sold off some of their holdings as well. This has been the routine in cryptocurrency as whenever a bad news is published, sell offs start happening. Am positioned to get more bitcoin if the price plummets.

Posts like these are only aimed to do one thing which is spread FUD. there was't a ban and bitcoin never even crossed the 6500k line. News like these are what people who don't care to verify their news they hear and read will start spreading to others and thereby spreading panic across people and making them to panic sell their coins for no reason.

This is actually Fud that the poster wants to do. Weak hands now would rush and sell off their coins. Their was never a time bitcoin price went as low as 5400$.

I guess, this will not happen and so far bitcoin's decline had never reached such level this year. Bitcoin is currently gaining and this perhaps will start recovering back to $7K USD plus in the coming weeks. Such negative news again could impact bitcoin and therefore we need not to believe such negativity and disregard such news since it has nothing good to serve with bitcoin.

Thank you for this clarification when I saw the thread and the timing the thread was created, I was forced to go back and check what the current price is but was surprised its still above $6800 which makes me feel that I might have missed when the price fell to his imaginary $5400 only for me to read down to realise that both the market news and the price were false all together.

Sometimes I wonder what good to people derive is causing panic and trying to bring down the market by making themselves prophets of doom not spreading news that would boost fragile confidence but the other way round.

Its quite sad to be honest seeing bitcoin slowly going down , i think bitcoin will surprised us maybe a next month or next next month we cant conclude but instead of giving or stressing your self out , why not buy bitcoin and eth.

I assume it's not the same as the price, because I think it's the same, we can take all the price up or the price down, and the price drops when this is the opportunity to buy.

Well still with a price dip bitcoin is still costly for an average Joe in india to buy. RBI ban might induce further downward by next week. It's a loss even to me as well who has invested in bitcoin early at its peak and now seeing it gradually reaching its bottom.

yeah i agree with you maybe bitcoin price will go down to $5k USD cause there's many bad news about it now and many people sell their cryptocurrency cause they don't want to keep lossing.

It is sad to think that the market value of the bitcoins in cryptocurrency falls down in five thousand US dollars.
I think instead of taking this as a badluck we should take it as a challenge to pursue hard for a better earnings.

Aren't you checking the price of bitcoin now and on how good it is to see the greens for the past weeks? It was around $9,000 for today and you don't have to be sad if you are just checking the price all the time.
There's no such as bad luck in trade whether you bought at dip or not, it's about on how you manage your portfolio and on how emotional you are in terms of trading.

Wish I could have been on Indian exchanges to catch the Bitcoin leaving all those weak hands ;D one country doing something doesn't really matter, and in crypto even if a government does ban it, it would be like trying to ban torrents. Peer to peer networks are essentially impossible to get rid of if people are using VPNs to hide their traffic from the ISP and gov.

there is chance to go down bitcoin price bellow that level however it will be return back, market current situation is not stable, if the price go bellow $7500 may be it will reach $5000 bellow, if the bitcoin price go down then other cryptocurrency also will be same