Do you think, India lifting the ban on cryptocurrencies will impact BTC Price?

[amishmanish]

Did it impact when the ban was put in place? No!
Will it impact when the ban is lifted? No!

Unfortunately, no matter how large the country is in terms of population, it has close to zero effects on bitcoin.

The major impact will be on the entrepreneurs who were trying to use blockchain for India-centric use cases/ scams..lol..Some of the old alts still have a lot of Indian devs working on freelancing or part-time basis. This had gotten affected due to the ban as people are pretty much afraid of regulations out here. Unlike the west where people are willing to risk a lot for their libertarian ideals, the need to sustain oneself is felt more than to fight for ideals.

This is true of the working population in most aspirational societies in developing countries. My hope is that people won't be backing off from bitcoin based projects thinking that there isn't going to be any money there. Its a net positive to the ecosystem here but i do agree that it won't affect BTC price noticeably.

[pawanjain]

It's quite obvious isn't it ?
If there is no ban on cryptocurrencies in India, it's obvious that more people will now get involved with crypto.
We don't know exactly how many people will be attracted to crypto at this stage but as time passes by, I am quite sure that the amount of people getting involved with increase steadily.
As the amount of people will increase, it will hinder BTC's price and movement and will surely increase the growth of bitcoin as well.

[dothebeats]

Short-term? No. There will not be an impact on the price on this news from India. It has to be more than just accepting it in their region in order to start the gears and keep it turning, though it is already a good start for the momentum to build up. Besides, think of it as opening a new pathway for the waters to flow. If the same volume of water flows on the same river but with an additional pathway, it will just divide the volume into different parts but would not overflow. It has to be more than that.

[tomahawk9]

No, because even after this news was released we can still see the price of bitcoin being stable as it is. There is no big response even after India decided to lift the ban on cryptocurrency.

A lot of crypto businesses like exchanges and some others stopped their operations after the pseudo ban went live...Did you expect all those companies to resume operations right after the news came out? it's been like what, a few hours maybe?   

India getting rid of the ban is EXTREMELY bullish, but we'll see the actual impact of it [in the cryptosphere] in the long-term once everything normalizes and people, companies, investors, etc start getting involved with cryptos (by trading, investing).

[BrewMaster]

i don't think so.
i remember a couple of years ago, i think it was in early 2017, the bitcoin price over at India started growing due to an ever increasing demand in that continent. it was so big that the difference grew as big as 40%. but that rise never had any major effects on bitcoin price in other markets (the USD value for instance). which makes me believe that this time it won't have any major effects either.

[Anonylz]

Even if it doesn't impact price immediately it might later in the near future, the most important for now is the ban has been lifted and people from India will be able to engage in crypto again without any worries, I think the hostility over crypto from the government of some countries is gradually dying down and the road to acceptance had begun.

[Kensyin]

but it won't be as the news site says, it won't be a sudden upward movement with the pump coming! The main difference will come in the long run when an army of Indian entrepreneurs and developers are thrown away because of this stupid ban will slowly find their way back and start contributing to space. Don't expect huge price increases just because of that and it all depends on how the demand and supply ratio will move and how clearly it will become the cryptocurrency market in India. We will see, this is really big news around the crypto space because India is a big market and we hope they can make an impact not only on prices but to develop innovative blockchain technology because India is known for their IT expertise. If the same volume of water flows in the same river but with additional lines, it will only divide the volume into different parts but it will not overflow. Bitcoin crashed due to a Coronavirus outbreak that affected the global economy in general. Yes, news from India should be a soothing balm right now in the crypto room.

[Shasha80]

We know that India is one of the most populous countries active in the cryptocurrency world. And now India is officially lifting the ban
on cryptocurrency. Of course the effect is pretty big it should be, in my opinion it should be in the near future the price  of bitcoin
immediately rising by this good news. Especially now that we are at an important moment, where halving bitcoin will soon happen.
So positive news like this really helps make bitcoin prices go up.

[coolcoinz]

Just as negative news (bans) influence the price, positive ones (ban lift) also do. We could all witness what happened to the price of Bitcoin when China banned it in 2018. The ban in India was much less influential, but still, even 5% raise would be a nice thing. At this point it's hard to find things that don't impact the price of Bitcoin as exchange hacks, ETF denials, bans, stock market crashes, viruses, even tweets by some rich traders can do it.

[Artemis3]

This allows the people from India to save their money from the ill management of their government to their fiat. It gives them an alternative for keeping their savings, regardless of politicians.

Of course an increase in demand is going to put some pressure up, little or much, it will depend in how much demand it gets. The startups can even restart a source of wealth what was being stupidly blocked by (ignorant) politicians.

Its good news. And yes the second most populated country in the world should weight something.

[kryptqnick]

of course it will, any action that helps ease the adoption of bitcoin specially in a country with a lot of people who have shown a lot of interest in adopting bitcoin. but it won't be the way the news sites are saying, it won't be a sudden bullish move with a pump coming! it will be slow growth as more and more people adopt bitcoin. even though we may see some short term jumps too but the main rise will be in the long term.

I think that whether the sudden pump occurs after this big news depends a lot on the media coverage. If over the next couple of days no major hacks or negative statements by popular people are not in the news, whereas the news about India is popularized, I believe it could bring a pump. The slow growth is better in the long-term perspective, and I guess it'll happen anyway, but recovery would not hurt, as Bitcoin was doing pretty well around $10k for a while, and now it's down.

By the way, everyone, Bitcasino is running a giveaway with pretty good conditions, allowing people to predict Bitcoin price and win money. Check out here if you're interested.

[pakhitheboss]

it should!

But, It will not affect the market significantly. The ban was imposed in 2018 and after that there were a lot of negative news about Bitcoin that made headlines in the national media.

Things will change but you need to waite for a period of six month or so.

[GideonGono]

I, at the very least, think so since it is quiet a significant news. I expect that other countries would have heard about what the ruling of the Supreme Court of India with its take with cryptocurrencies. Though I do not expect much of an increase but it would do good to establish the current mood of cryptocurrencies and might as well bethe starting point of the following increases in the price of Bitcoin.

[libert19]

It would (and already did) affect the premium on crypto prices in India however no effect on global markets, neither there was any effect when ban came in place.

[imstillthebest]

yes of course . this is a positive news related to crypto so yes itl have a good impact as well on the price of btc  .

you didnt provide extra info , im just curious if what are the reason of the ban and if what are the dates the ban have started and ended.  right now i can see that the price of btc is now starting to recover again , it could be that the lifting of ban start to taked effect .

 hmm thats nice. also  id be more happier if the issue on the corona virus will be solved because it contradicts on the halving event too .

[Slow death]

We think this is huge for the crypto world looking at the current BTC price graph.

Comment below your opinions.

it is very difficult to know. for example:

- I don't know how many people in India bought bitcoin using their bank cards

- I don't know how much money each person bought bitcoin in India

Without these two points that I mentioned, it is very difficult to know what is the impact that this news can bring.

The only thing I know is that countries like the United States, China and Japan have a big influence on the crypt markets.

[XCANA]

We think this is huge for the crypto world looking at the current BTC price graph.

Comment below your opinions.

We're going to feel the impact of this victory from India, this might not be eminent as such but definitely we're heading to another bubble. The victory is for the whole cryptocurrency community and worthy of celebration. Hope to see other similar countries facing such issues of cryptocurrency ban, getting victory like India. This has clearly shown to us that: the cryptocurrency has come to stay no matter what the hatters bing onboard. This is another victory for us.

[niocexchange]

Here is All you need to know about #Cryptocurrency Trading becoming legal in India.

Read the full report.

[Slow death]

Here is All you need to know about #Cryptocurrency Trading becoming legal in India.

Read the full report.

today I read the news of celebration by the exchanges and some people:

indian crypto exchanges resume fiat services 24 hours after supreme court ruling

But this is a problem that is still far from over. According to what I read last year, there is a bill that is being studied that is not good for cryptos in India. In other words, it is a war that will win who has more political support. I often think that if the crypto community has a lot of support from politicians, then the future of cryptocurrencies will be very good. Of course, politicians are not trusted, but they are the ones who make the important decisions

[fullhdpixel]

Yes, I’m very sure that if they should lift their ban on cryptocurrency it’s going to have some positive effect on cryptocurrency price. I am very sure that there are people who lives there in India that might have stopped investing in Bitcoin because of it being banned.

But, if the government should lift the ban it’s going to make a lot of people to get back into and start investing. When people start investing it will have some effect on the price and the price will start going up. Maybe the changes will not be noticeable at first but as time goes on and as the adoption increases, it will start reflecting in the price. This is what I know for sure. Would be good if other countries will lift their ban on Bitcoin as well.