RBI has banned crypto currency in INDIA and given a timeline of 3 months to financial institutions so how much will it impact on price of BTC globally in next 3 month?
I don't think India or most of the South East Asia is deeply involved with crypto currencies. So i guess there won't be a huge impact globally since India does not cover most of the market like China or Japan. There might be a small temporary spike on the price which will eventually get covered and recover.
The population of India was actually pretty interested in the bitcoin, although not having a huge market share like that of some Asian countries like China or Japan. The regulation of RBI regulated entities by banks might affect a bit of the market share for now, but definitely will hurt BTC in the long term, due to decrease in mass adoption in the future.
The Prime Minister definitely did this move in order to support the Indian market, which was indeed lowering due to the crypto one, but also in part he did this to support the soon to be "Lakshmi", the bitcoin of Indian government, as they are calling it, although I doubt it would be successful.
