India just BANNED Bitcoin? Will BTC now crash?

[sean.maley]

I think there is a misundertanding here. Do they ban it totally or just for illegal purpose?

It is just speculations that has been used today to manipulate the market and I'm sad that they succeeded to do that. Their main objective was to cause retail traders to do panic selling. I hope you didn't!

[Fredomago]

We have to wait to see how the new news emerges. Does anyone have updated information about today?

All you need to know can be found in the press section on the forum. If you're asking about updates from India, everything is in order there. No ban. As you can see people panicked and oversold their coins lowering the price to 8k USD. Some people made some huge mistakes today.

That's the problem when you are lack of information, better to make sure to read first and since you are into an investment better to plan much better and study the flow, India's stand is not banning but to give peoples awareness about their position with Cryptos.

[boltz]

I don't thing india can influence the market so much that it ca make bitcoin drop so much in value. All this mess is because of Tether and let's hope this will be solved soon. Until then , buy some bitcoin , buy some altcoin , and take a look at Aitheon ICO , it will be a good ICO for sure.

[adzino]

India just BANNED Bitcoin? Will BTC now crash?

Stop spreading fake news all over the internet. You should do your research before posting such bullshits and spread more rumours. India won't be banning bitcoin. The speech made by Jaitley was just misinterpreted and people are now panicking. He never said that bitcoin will be banned, just cited that it is not a legal tender. In fact they are now taking initiatives to embrace the block chain technology.

[cho99]

India just BANNED Bitcoin? Will BTC now crash?

Users read his statement again ❗❗

#Fact 1: Government will eliminate Cryptocurrency – to curb illicit activities. It doesn’t mean they will stop cryptocurrencies from trading. If you are trading bitcoin/crypto on exchanges and paying your taxes, you are not doing anything illicit.

#Fact 2: Government does not recognise Crypto as legal tender. Which means you cannot make or accept payments for goods and services in Bitcoins or any cryptocurrency. So you are still free to buy and sell cryptocurrency on exchanges.

#Fact 3: Government did not say there will be a ban on cryptocurrency. Indian government can however ban ICOs in India. We have to wait and watch.
So the conclusion is Indian government did not completely banned bitcoin stupid head

[weston4mills]

This is not the end for bitcoin. Just because some governments are afraid of untraceable coins it does not mean it is over

[Hazir]

I think there is a misundertanding here. Do they ban it totally or just for illegal purpose?

It is just speculations that has been used today to manipulate the market and I'm sad that they succeeded to do that. Their main objective was to cause retail traders to do panic selling. I hope you didn't!

India didn't ban bitcoin, all they wanted to do is curb illegal use of Bitcoin and other cryptocurrencies by imposing some sort of regulations.
But as always the news was twisted and changed by the mainstream media, and someone who really wanted to crash the market succeeded.
The price will recover slowly as the people will realize that the Indian ban is nothing but fake news and one big hoax. Be patient.

[jerry29@]

No, bitcoin is crashing not because of India banning the bitcoin. This is the basic nature of bitcoin. It will rise and again it will grow up.
And bitcoin price may be also in declining due to the introduction of new crypto which solves different solutions and have some better features which does not possess by the bitcoin.
This is the main purpose of bitcoin's crash.
I hope you get your answer.

[JerryJam]

The government and reserve Bank of India always refers to bitcoin negatively. The Ministry of Finance even call it a pyramid scheme. Nevertheless, each tenth of a bitcoin transaction is made in India. The government does not recognize bitcoin as a legitimate payment instrument. But in the future, India is willing to develop and support the technology of the blockchain.

[freundes]

With all the news the price does fall but as people are aware of the situation i guess its stablising.
Eventually the PRICE is rising guys

[Coinlover9]

Well it did and it will rise again.

[hydeevanz]

There's a lot of issues about banning bitcoin in a different country, but it has different reasons. According to a site that I'm reading right now it stated that, "India appears intent only on stopping criminal activity" which leads to misleading reports that India would ban trading completely because they see it as illegal. “The government does not consider cryptocurrencies legal tender or coin and will take all measures to eliminate the use of these cryptoassets in financing illegitimate activities or as part of the payment system,” Mr Jaitley told parliament in his annual budget speech.

Here's the link regarding bitcoin in India: http://www.independent.co.uk/life-style/gadgets-and-tech/news/bitcoin-price-value-latest-india-ban-trading-south-korea-regulation-us-uk-rules-a8191566.html

[annicketucufaw]

I've read the misleading news that India will ban bitcoin and because of that the price of btc went down. I think someone is already manipulating the price of cryptocurrencies so that they can gain profit from it. Just like what happened when South Korea announced that they will ban cryptocurrency, the price also went down and after that, they announce again that they will not ban it then the price went up. They are abusing the misleading news so that the people will be in panic selling their bitcoin which will make the price of btc lower. What will they do is buy the btc and after a few days, the price will go up again and India will announce that they will not ban bitcoin.

[jostorres]

It's not being banned, just being regulated so that illegimate(black money) activities can be tracked. I don't know why is there so much hype in the market. It's time to buy people.

Also, this is not something very new and who really cares about India. It is not as powerful and developed as China, Japan, Canada etc. are. Let India do what suits it best. Such bad news don’t really affect bitcoin. I am with you all in this matter.

Honestly, the real reason which many deny is the big whales create such situations so that small investors sell out their coins.  After all, this is how they make money.

[shainasaz]

India government is not just totally banned bitcoin it is only tracking down to the people making crypto scam.  bitcoin  is not affected with it infact some Indian guys are still investing and trading. the bitcoin price declined it is only showing the characteristics of the crypto world just like a roller coaster full down then full up. 

[Daimon88]

So many people worried about bitcoin and all cryptocurrency banned in India, South Korea, China, and Indonesia. Why do you fear about that?
I wanna ask you, at a first time Bitcoin has appear, who is support them? any country? or professional analyze? and where you at?
Now, why are we worried about that?

There is no need to get worried about these temporary banning of digital currencies in your countries because it is crystal clear that bitcoin would be one day the most powerful, legal international currency of the world. Moreover if people protest for declaring bitcoin legal, I don’t think so that government can turn down their demands because the power always lies in the hand of common people. Just keep working with bitcoin.

[angjosh]

So many people worried about bitcoin and all cryptocurrency banned in India, South Korea, China, and Indonesia. Why do you fear about that?
I wanna ask you, at a first time Bitcoin has appear, who is support them? any country? or professional analyze? and where you at?
Now, why are we worried about that?

There is no need to get worried about these temporary banning of digital currencies in your countries because it is crystal clear that bitcoin would be one day the most powerful, legal international currency of the world. Moreover if people protest for declaring bitcoin legal, I don’t think so that government can turn down their demands because the power always lies in the hand of common people. Just keep working with bitcoin.

I believe someone somewhere is spreading FUD through the media to drive the prices down so that they can stock up, then use the same media to pump the price. Cryptocurrency experts are predicting a bull run in 2018. Governments and Central are scared of bitcoin and other cryptocurrencies disrupting their "usual" business but we are here to tell it is not business as usual..Since they cant beat us, they should join us.

[Ariess]

India just BANNED Bitcoin? Will BTC now crash?

we can not deny any ban in every country will cause the slightest effect. what happens to the Indian state has a big effect, because it coincided with the correction of last year's increase. but, I guess currently bitcoin is starting to grow and maybe india will be like china, part of crypto past.

[cunese]

When the ban has become a daily topic, the news is no longer keeping bitcoin prices down. At least the U.S. has acknowledged the status of bitcoin, and bitcoin can't die.

[ufalo3]

I think there is a misundertanding here. Do they ban it totally or just for illegal purpose?

It is just speculations that has been used today to manipulate the market and I'm sad that they succeeded to do that. Their main objective was to cause retail traders to do panic selling. I hope you didn't!

That is right — the panic on the market started, people rushed selling their Bitcoins, the demand for this cryptocurrency decreased. As the result BTC and all altcoins together with it lost a lot. Rumors, especially negative information can always cause dips.