Do you think, India lifting the ban on cryptocurrencies will impact BTC Price?

[Cryptofame]

I don't think so. I think the effect bitcoin is facing is now is as a result of the corona virus affecting the world

[cotton ball]

India give second chance to legal bitcoin and altcoin in their counrty, maybe become worth way for bitcoin and altcoin investor how to get positive respond for their government at the future. With second chance bitcoin become legal transaction they have really give positive way why have to use bitcoin and altcoin.

[BITCOIN4X]

The legality of using bitcoin will have a positive impact on the growth of bitcoin users in a country and in this case India. India which previously banned bitcoin and altcoin has now lifted the ban. For a global scale, prices may not be influenced by the legality of a country against the use of bitcoin, but this will increase the popularity of bitcoin in the country through its users.

The price of bitcoin is basically influenced by demand and supply in the market, if the population of India, including investors intend to buy large amounts of bitcoin after the legality is obtained, then there is a possibility that prices will increase. And now what is causing the price of bitcoin to increase?

[royalfestus]

Definitely it should affect the price positively but not with immediate effect. This will need to build system to purchasing cryptocurrency, keep it/store safely, build project around it that can proffer solutions to immediate problems in the country. They need to build trust and educate big population on relevant cryptocurrency transactions and storage. Bank response will also be very useful in the adoption but after this imagine the targeted millions in the country

[senin]

The cancellation of the Reserve Bank of India restriction regarding servicing cryptocurrency banking operations does not solve any problems there. Cryptocurrency in India is still not legalized and, in general, the attitude towards it is rather contradictory there. This country needs legislative certainty. Only the decision to legalize cryptocurrency can change the situation and positively affect the price of the cryptocurrency market.

[Vishnu.Reang]

It has been almost a month since the Supreme Court made the judgement regarding the legality of cryptocurrencies. But here I am yet to witness any change in the ground situation. People are still afraid to use cryptocurrencies for payments, or invest in them. It may be legal now, but a lot many of the users are still confused about the tax implications and other complexities.

[thesmallgod]

India is a big country that is made up of great intellects and talented individuals and I believe lifting the ban on cryptocurrency will be a good one that will have a positive impact not online on bitcoin but the blockchain technology. A lot of Indians are technology gurus and allowing crypto to be used easily in India might help build a community of individual that have great idea that can propel the advancement of the technology

[royalfestus]

It has been almost a month since the Supreme Court made the judgement regarding the legality of cryptocurrencies. But here I am yet to witness any change in the ground situation. People are still afraid to use cryptocurrencies for payments, or invest in them. It may be legal now, but a lot many of the users are still confused about the tax implications and other complexities.

The sentiment in the market does not show the confidence we expect and presence world economic sphere has displaced every price projection. Even with revoke of ban, market sentiment will help better adoption. it is a better time for ban removal and fund from that side could give the idea of the height of the bull market. We are getting better position in the market, we need the virus to be controlled, price pick up to cover the 200 week and halving in May.