India just BANNED Bitcoin? Will BTC now crash?

[storeship]

FFS will you people do some research and understand what your investing in.
No one can Ban Bitcoin it's a virtual currency and decentralised, a country, group or individual can't ban it

[duynguyen2201]

I think it's just the way to make BTC dump for sale-off of whale

[BenjiSBurke]

No way is the market crashing right now because of India. Like some people have already mentioned, Indias market isn't big enough to cause such a drop. Either a HUGE correction or bear market or both? all in all many predicted this. Will see just how low it goes.

[usekevin]

India just BANNED Bitcoin? Will BTC now crash?

Don't spread a fake news here bro.Bitcoin is not illegal in India.As like a South Korea, India have a idea to regulate the bitcoin in India. The government of India may decide to get some taxes for bitcoin. Even bitcoin became illegal in India, the price of bitcoin will fluctuate some how.But it will not affect the price of bitcoin.

[niisarearning]

OP atleast have some sense . When bitcoin became legal in india government doesnt took any decision on bitcoin or any crypto currency . More over government want to utilise blockchain features . Alos allocated budget fr AI and blockchain based research.I think OP doesnt know the fact simply spreading FUD bitcoin is never banned or never made legal in India . Government said the same thing on 2013 Bitcoin is not legal tender .

[awawo]

I four see this coming when the price skyrocketed in late last year I know it was a pump form big investors who want to make a lot of gain, and India banning of bitcoin has just little to do with the price of bitcoin and even at that most of us are after the technology and not the money. And I can also see that this price fall is another logic to get people to sell they bitcoin out of panic.

[cryptorampage]

Don't panic sell, this is not the first time.
It will take effect but it will recover too.

[virendarnagpal]

Even the first part of your question is fake one.  India has not banned bitcoin,  there is no such statement of the Government in or outside the Parliament that they are planning to ban bitcoin.  Though it is true that Finance Minister of India stated that they are finding the ways to usher the bitcoin (cryptocurrency) in Indian digital economy through the available technology i.e. block chain.  Indian Government is though worried about the misuse of bitcoin in illegitimate activities like terror funding and money laundering and if they are worried for this reason we can not claim their action to be unjustified because India is already suffering form terrorism, and Government has in the past taken several actions against hard currency too including calling back the 500 and 1000 denomination rupee notes in November 2016 claiming fake currency supply by its neighbor country  and we have seen decrease in number of terror activities and the major source of funding was blocked by the Government.
Indian Government is not against digital currency and  on the contrary its Prime Minister Narender Modi is a big fan and a big ambassador of digital currency so they will never never ban it's usage but it is also true that they will never compromise their security so some rules and regulations will definitely will be framed and we will have to accept those rules and regulations.
I see some speculators; cheaters; big whales behind all the scenes which are always trying to kill and eat flash of innocent creatures.  

[javainn]

bitcoin will only have price accidents in the country of india, because surely there will be a big panic sell. for other countries I think it is still stable but will only experience an insignificant price decline. so that's an internal problem in india.

[mjacer]

it will not crash bitcoin since market of BTC is not just India, it is worldwide.  India is just a portion of the whole world.
there is still a lot that remains supporting it and continuously increasing community coming in.

[MainIbem]

I think you have to read this , and you will understand very well.

https://cointelegraph.com/news/india-bitcoin-prices-drop-as-media-misinterprets-govts-regulation-speech

Haters of cryptos in the media uses every available government statement to highlight their dislike of bitcoin. It was a similar situation with South Korea where it was widely reported of ban. Same also with the statement of UK Prime Minister. Some section of the media just wish cryptocurrency dead.

[Nekojeeta]

The more FUD the more it validates crypto in my opinion... I look forward to when we have full decentralization via the entire stack so that a government 'ban' has even less meaning

[samanthacrypto]

i mean, Bitcoin is very good attraction for younger jenaration, BTC never crash

[timerland]

India just BANNED Bitcoin? Will BTC now crash?

It seems like that the markets have responded very negatively to this news, and it is to be expected.

However, the thing of interest is that there is actually no evidence as of now that the government is actually banning bitcoin. It is most likely going to be something like regulation of bitcoin to ensure that bitcoin doesn't get used in the black markets and so on.

If bitcoin was banned from India, then surely Unocoin, one of the top Indian exchanges, would be down. But it isn't. And it even came out with an announcement saying that nothing has changed from their PoV since the government's speech.

This is a classic panic dump right now... Don't sell into this.

[nheychan]

I've read in this forum last time that india legalized bitcoin, I'm surprised that they banned it now. what could be the reason for them to ban bitcoin quickly? was it because of the price drop?

[nidacoinlove]

This is not accurate and authentic news. India has not banned Bitcoin but only warned its citizens to be careful with cryptocurrency and in case if anything hilarious happens the government will not be responsible for it. This is not something that could seriously affect the Bitcoin price.

Even if India Ban Bitcoin I think it will have no great effect on the price interms of drop because we have heard bitcoin banned by countries and have seen it as well. My opinion about Bitcoin price changed after China banned Bitcoin I don't any country else than US government are more influential to bring it's price low. So, stay cool and utilize the opportunity to buy BTC @ $8.5K only. I am going to buy as many I can.  Its time to be greedy for Bitcoin.  

[campica]

I think this news won't have big impact on bitcoin price , because bitcoin is worldwide currency. So this news may have impact for people who live in India and now they affraid that they won't be able to use bitcoin. I suggest to not sell bitcoin now , it can be just news for dumping price. btw. this is good time to buy it for cheap price.

[Denies]

India just BANNED Bitcoin? Will BTC now crash?

no. I think not like what you say. India does not have full power against bitcoin, unlike the country of bamboo curtain (china)
only small groups are involved in bitcoin within the country of india. so according to my calculations, India will have no great effect on bitcoin and crypto.

[Sithara007]

I think this news won't have big impact on bitcoin price , because bitcoin is worldwide currency. So this news may have impact for people who live in India and now they affraid that they won't be able to use bitcoin. I suggest to not sell bitcoin now , it can be just news for dumping price. btw. this is good time to buy it for cheap price.

The news is having a quite big impact, as evident from the 20% to 30% drop in the exchange rates. India had emerged as one of the major markets in 2016, after the government implemented the demonetization measures. Now a lot of investors (both Indian and non-Indian) are going to lose a big part of their hard earned savings.  

[trickyriky]

India just BANNED Bitcoin? Will BTC now crash?

We have been watching this negative impact of the market of cryptocurrency. Bitcoin suffers as well as the other altcoins. However India is not the #1 player on the market. That is why BTC will grow again.