Could India push bitcoin to the MOON ?

[pakhitheboss]

This completely depends on the goverment of India. There is too much negativity in the minds of Investores based in India and no new investor would like to invest untill the goverment of India takes a concreate decision about Cryptocurrency. Untill then you can expect nothing good coming from India.

[mk4]

Although India prohibits Bitcoin, I know that many whales live in the Indian and have a lot of money.

How do you even know that? LOL. I'm pretty sure if a certain person is a bitcoin whale, it's very likely that he/she doesn't want people(and especially the government) to know that he/she actually holds a big amount of BTC. Letting other people know is pretty much like asking to get kidnapped.

[hubballi]

With RBI reversing its crypto ban in India or changing statements to consider it as a commodity, do you guys think India could push the price to the moon ?

It cannot move to moon but you can expect some price upward movement as now the users can buy freely and other business also can start accepting bitcoin as payments options

[LankaJay]

Even it doesn't push BTC to the moon, that will be a good sign about the future of crypto for sure. We need more and more positive news about the crypto like this now.

[AjithBtc]

India being one among the largest market for Cryptocurrency has made big changes to its growth over the past. With the recent banning statement it too caused the downfall of bitcoin. Now the government authority coming up with the decision to consider it under commodities is a good move for the cryptocurrency users. At least a small impact can be observed over the growth based on the news from India.

[Anewor]

I believe so it can make a difference. The lifting of the ban can create new demands which will help push the ratio between supply and demand to a new level. The result will surely be positive as many will be investing in bitcoin. We'll wait and see.

[YNAGS Team]

With RBI reversing its crypto ban in India or changing statements to consider it as a commodity, do you guys think India could push the price to the moon ?

I'm not sure that I have understood correctly but if you were saying that India is about to cancel that ban that they put on cryptocurrency, it is the most awesome news that I have heard on this week!

[nhattori27]

I don't think that India can push bitcoin to the moon, it would definitely play crucial role, but not as much as some people are thinking. The main player behind bitcoin is the Chinese, they are controlling it.

[erafromi]

With RBI reversing its crypto ban in India or changing statements to consider it as a commodity, do you guys think India could push the price to the moon ?

Not with the current number of investors. But there is still huge number of people that can join in future and make a difference.

[Gurjasmeet]

I think it's a difficult for Indians push bitcoin to their moon, because lot of people are belong to below of poverty line.one thing more crypto currency is still banned in India.

[TheGodFather]

With RBI reversing its crypto ban in India or changing statements to consider it as a commodity, do you guys think India could push the price to the moon ?

Indeed, India is a country that has a huge bearing on the overall financial stability of the world as it has a large quantity of investors and potential that corporations and other governments are cying for. But I still think that it is still a resounding no, in terms of it pushing bitcoin back to its luster where it has made records and shattered previous price for its currency as there would still need to be an alignment between other countries for this to push through

[tegarp90]

With RBI reversing its crypto ban in India or changing statements to consider it as a commodity, do you guys think India could push the price to the moon ?

Nope, indian market volume is not high and that will not affect bitcoin market.
But this is a good point, developing country such as india is already look at bitcoin potential and hope other country is following the india move

[gesdan]

I don't know, but if in India there are much traffic about bitcoin and there are many good ICO project in India i think it can bet the aspect that makes bitcoin is rising up, and makes the bitcoin as commodity, not in India only but in all country in the world

[hasmukh_rawal]

With RBI reversing its crypto ban in India or changing statements to consider it as a commodity, do you guys think India could push the price to the moon ?

Nah, I don't think so man. The price might increase a few hundred dollars but it will not lead it to the moon. This is because when there were rumors in the market that India has banned BTC the price went down. It did went down but not more than a few hundred dollars which is why we can expect the same or double growth at the max. For me going to moon means the price should increase at least by $2k-$3k which is not possible when it comes to India.

[cold cool]

India is not very supportive of the development of BTC, and their government is cracking down on the development of BTC. Just like China, it is Japan and South Korea that can push up the price of BTC.

[BrewMaster]

I think it's a difficult for Indians push bitcoin to their moon, because lot of people are belong to below of poverty line.one thing more crypto currency is still banned in India.

but there are billions of them and majority of them are already online! it is actually funny how many of them have a computer and access to the internet even with all their poverty.
and cyrptocurrency is not banned in India, stop spreading nonsense when you don't have enough information.

[stompix]

The reverse ban alone won't push Bitcoin to the moon. There's not enough volume on India to possibly push it to the moon. It could encourage more investors in the future and possibly help Bitcoin reach the moon. 

https://coin.dance/volume/localbitcoins/INR

Only the US can to increase the price of bitcoin

Any country could move the price of Bitcoin.

You've just said that India can't push the price now you say any country can push it up?
I doubt that more than 5 countries can really push the price up at the stage if we consider a push something more than a 10% increase.

The problem is the average person on the street in India is very poor and they constitute almost 80% of the population. So the amount of money they will have to spend on bitcoins, might be relatively low, compared with other Western countries.

Yes, the numbers are large, with India having 1,324 billion people in 2016, but if they only have $1 worth of fiat to buy bitcoins, then that would hardly have a impact on the price. 

This is good news or favorable development for Bitcoin from India, It can really contribute for possible market movement, if the investors in India consider the need of crypto currency digital transaction as one commodity for the market, yes, it will definitely have the same impact to other country to consider. good luck to Bitcoin investors and supporter.

What the hell is good news?
Tha 80% of the population in India can't afford to invest 1$ in BTC

but there are billions of them and majority of them are already online! it is actually funny how many of them have a computer and access to the internet even with all their poverty.
and cyrptocurrency is not banned in India, stop spreading nonsense when you don't have enough information.

Not really billions and nop, the majority are not able to browse the internet.
By 2018 it is projected that half of the population is going to have access. (this includes access from schools and universities)

[hachiman13]

I doubt a single country can affect the price of bitcoin so much that it would moon; not even china can do it. It might push the price in their local exchange but that's just about it.

[SakinaPrincess]

With RBI reversing its crypto ban in India or changing statements to consider it as a commodity, do you guys think India could push the price to the moon ?

Every positive news will strengthening bitcoin and the crypto community. I believe India is a big market in the making and it can boost the community and the pricing.

[Rozita]

What do you mean by the moon? A new all time high? No. Every good news can cause the price to rise. A news can cause a sudden price rise after its release. But soon the price can be corrected or become stable.