India just BANNED Bitcoin? Will BTC now crash?

[Jenn09]

It is a false news so that other invester will get back their investment and thats the reason why btc price now is too low. But I think india not banning btc in their country. BTC price soon will mooning right after this situation.

[Gibreil]

There is no ban that India said! They just remind the citizen that cryptocurrency is a risky asset! You can gain double profits or it may lose all of your money. Don't make some news a misleading topic! A lot of newbies are having a panic selling because of this such thread.
A lot of banning cases I've seen before, China is one of it but bitcoin still moving and ot doesn't affect even there are numerous country that bans bitcoin. Unless bitcoin will not be banned in this world and many people are using it, don't be scared to invest with bitcoin.

[Sendibere]

Only the government of India banned the cryptocurrency and they discontinue to use Bitcoin. They not consider cryptocurrencies to be legal tender and will try to phase out payments using Bitcoin. They can it, because they will fight the money laundering and the funding of terrorism.

[johnwest]

As far as I have seen, their Finance minister said that "Bitcoin will not be used as a legal tender", the problem is their media conveyed it differently to the people. Well, thats what media does most of the time.

[heleng05]

It will crash for that reason banning bitcoin in some country can make it fall for a while, and the big countries that gets banned in using it can really reduced the amount of bitcoin users that uses bitcoin as their investment to offer can really affect our bitcoins price and I really feel it now my bitcoin falls down that I can't stop it in decreasing but I trust bitcoin that it can increase it price again this coming months.

[Divyanshu2710]

I don't think so that bitcoin will crash but for safety people should sell bitcoins, atleast if they have a high number of them because if it crashed then they may have to suffer a huge loss.

[pixie85]

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.

[hastag_80]

India just BANNED Bitcoin? Will BTC now crash?

Will,this just happened now in india  that i read in article that there minister announce war of banning the wholecryptocurrency in there country,but real statement  is only they announce those exchange site without tax  to declare there income tax return.they prosecute those  platform exchanges in there country who having a questionable income tax return,because like happen in south korea they have doubt that this will be use in money laundering and they want to use it in the proper ways.

[hitrawal91]

India just BANNED Bitcoin? Will BTC now crash?

I think the banned is not yet confirmed as the Budget and another financial report is awaited and the major decision will be taken after that report is been disclosed. And I think banning the bitcoin in India can bring the bitcoin value down to some extent but it is necessary that it will crashes. But yes banning has made the bitcoin more weaken and also Facebook has also banned the bitcoin and other cryptocurrencies ICO's ads which were used to appear on their website and by this bitcoin has been losing its strength in this market.

[parassinghal]

Yes India has banned the bitcoin and other cryptocurrency yesterday but i don't think that bitcoin will crash. But ya definitely it will effect the price of bitcoin.

[layoutph]

China is bigger a couple of times vs. India. We do not need india to make bitcoin pump. I really hate this crypto manipulation FUDs by whales.

India just BANNED Bitcoin? Will BTC now crash?

[thenameisjay]

India just BANNED Bitcoin? Will BTC now crash?

Stop FUDing everyone. It'll eventually cause a massive panic sell and bitcoin price will drop hard. Well, I guess it's a big advantage for me since I get to buy a lot more bitcoins at a very cheap price. So I guess noobs can keep FUDing Indian fake news so I can buy more bitcoins.

[Piterg]

This is all a fake and as always it is profitable for someone to distribute such news! India did not forbid it! The government does not impose a ban on free trade in crypto currency on exchanges, but only does not recognize Crypto as legal tender for goods and services.

[PhucS]

India just BANNED Bitcoin? Will BTC now crash?

I think you need to re-read the information. They just don't accept Bitcoin payments and will do all they can to removal of Bitcoin support for illegal purposes. That can make their economy more manageable. India does not forbid Bitcoin, their government is exploring Blockchain technology. Currently, Bitcoin is fluctuating sharply, but I do not think it will collapse by the decisions from India

[Jembut Ireng]

Yes India has banned the bitcoin and other cryptocurrency yesterday but i don't think that bitcoin will crash. But ya definitely it will effect the price of bitcoin.

I'm sure this will not be long, just as it did with the beginning of november when china banned bitcoin prices drop from $ 4300- $ 3100 and 2 weeks bitcoin prices continue to skyrocket, a lot of news stating that prices drop because Chinese users want to celebrate Chinese New Year.

[European Central Bank]

this is probably news that's been taken and twisted as ever. but even if it was, why should we care about india? they don't have a crypto market worth mentioning.

even if this is baloney, and it probably is, it's almost certain india will ban it eventually. look what they did with everyone's cash. they're not gonna let something like bitcoin flourish there.

[cryptodairy]

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

[BlackRacerX]

India just BANNED Bitcoin? Will BTC now crash?

With the current pricing today? I think bitcoins are crashing already. Sad part about this is I think it is going to take longer than we thought for bitcoins to reach and overcome the $18,000 price point. But have faith, bitcoins will make a return this 2018. We just don't know it yet.

[Stedsm]

India just BANNED Bitcoin?

You guys just watch something and come up with whatever you think is truth, isn't it?
The worst problem here is media, they just add too much spice to the news and serve it because we people want it that way.
Our Finance Minister said that Bitcoins or any cryptocurrency is not a legal tender or coin and is not going to be accepted here. And he wants to eliminate the use of cryptocurrencies from India to stop illegal activities that are getting done by Underworld guys as well as terrorists.
If we get into the depth of what he tried to convey, we can clearly see that he didn't say that Bitcoins are illegal, but if someone tries to steal tax from Government, they are doing wrong and will probably be scrutinized.

Will BTC now crash?

If BTC is about to crash, it would have crashed very badly already.
But, it looks like whales took the advantage of this scenario when people started panic selling and value fell down near 5 Lacs.
It's currently stable between 6.3 - 6.5 Lacs and I believe we will be seeing higher values back very soon.
I think this year is somehow bad for crypto because not one, but many countries have now taken Bitcoins in their talks and it has become the beat of the buzz. Let's hope for the betterment of Bitcoins.

[Pab]

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

Exactly as you have wrote Indian finance minister said it will eliminate usage of cryptocurrencies like bitcoin in "criminal use cases."

Mainstream media took it as "it will eliminate usage of cryptocurrencies" and forgot the rest.

It is classic media fud headlines always look source