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

[Ridwan Fauzi]

As you can see now how the movement price of bitcoin, we can touch $9000 again after the bearish time was taken.

The decision form government against cryptocurrency will always give a big effect from to bitcoin and all cryptocurrencies prices.

Other than that, we got another good information like Germany and Korea which give a good effect for cryptocurrency movement price.

So, there will be a huge pump in a few days ahead we will see it buddy.

[adzino]

Depends on how much popular and demanding bitcoin is going to be in India. As far as I can see, it won't be causing much of an impact on the price of bitcoin. Remember, crypto currencies are global currency. Just a single country itself can't bring huge changes to the price of crypto currency. Even if they can, it is going to be a very short lived change. Again, even if the price of bitcoin starts to change due to trading being legal in India, it is just going to be because of a "hype" that will be created (which I also doubt is going to happen).

[FarhanAkhter]

There are huge numbers of people from India who are earning from the crypto world. I do not think lifting ban of cryptocurrency from India will have that much impact on the Bitcoin price. Besides,it will be really very good for the crypto world and also it will help the people of India to reduce their poverty by working in the crypto world. There are huge numbers of unemployed people living in India.So,if the government of India lifts the ban then it will not have any impact on the Bitcoin price.

[TheGreatPython]

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

I don’t know of this sure but there are a lot going on that seems to be affecting the Bitcoin price right now, and not just bitcoin but every other assets and stocks market.

There is Coronavirus fear and it seems to be affecting everything, the price for everything has been decreased to a very low, Bitcoin has fallen back to around the rate of $7,000 after making its to $9,000 plus and apart from that miners has been another case since they started selling out less of what they mined. There are still a few other things that may have possibly affected the price of Bitcoin and caused it to fall.

[South Park]

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

Comment below your opinions.

EDIT

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

Without a doubt this is positive news but there is too much fear in the markets right now for this news to have any kind of positive effect, the dispute about oil crashed the price in a way we have not seen in a long time, the stock market registered one of their worst losses in history and the fear of the coronavirus is spreading, when you take into account all of those factors it seems really unlikely the price of bitcoin is going to show a positive movement during this week.

[ukon]

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

I don’t know of this sure but there are a lot going on that seems to be affecting the Bitcoin price right now, and not just bitcoin but every other assets and stocks market.

There is Coronavirus fear and it seems to be affecting everything, the price for everything has been decreased to a very low, Bitcoin has fallen back to around the rate of $7,000 after making its to $9,000 plus and apart from that miners has been another case since they started selling out less of what they mined. There are still a few other things that may have possibly affected the price of Bitcoin and caused it to fall.

I think not only the corona virus can affect the price of bitcoin to $ 7,000 but this could also be the cause https://cointelegraph.com/news/plustoken-scam-moves-123m-in-bitcoin-just-as-btc-price-regains-10k
This is hot in the conversation right because it has become a scamer and has an impact on the cryptocurrency market so that this impact could have happened because of this.
But for the corona virus, I think this does not have too much impact on cryptocurrency.

[Pmalek]

Even though India is huge millions of people live in extreme poverty. They couldn't contribute anything. The question is how much is the middle class willing to invest? How much would the rich elite invest, if anything!?
In the last couple of weeks we have had two important headlines but it hasn't impacted the market positively. I am talking about Bitcoin being accepted as money in France.

Maybe it is just bad timing. The good news getting shattered by Coronavirus, stock market crash and the big sell off of hacked Bitcoins.   

[kezinaur14]

Even though India is huge millions of people live in extreme poverty. They couldn't contribute anything. The question is how much is the middle class willing to invest? How much would the rich elite invest, if anything!?
In the last couple of weeks we have had two important headlines but it hasn't impacted the market positively. I am talking about Bitcoin being accepted as money in France.

Maybe it is just bad timing. The good news getting shattered by Coronavirus, stock market crash and the big sell off of hacked Bitcoins.   

I think in the long run it'll be a net positive, while yes the timing is crap right now, legislations timings don't usually line up with community sentiment around bitcoin, it's just the way it is. I think the fact that france made it legal is also great news!

[Kakmakr]

There was a small bump in the price after the announcement was made that both India and South Korea was willing to allow Bitcoin to be used in their country. The "use" was not unrestricted though, because it looks like this would be accompanied with a lot of regulations to restrict Bitcoin users and merchants to strip pseudo anonymity. 

India are predominantly a country with a large amount of people that are living from hand to mouth, so I doubt that there would be millions of poor people buying bitcoins. The people that should be buying bitcoins are the workers from India, working in other countries and sending money home to their families. <Now these families can pay directly in bitcoin, because more and more merchants would be allowed to accept it and there will be no need to convert it to fiat to do so.> 

[Debonaire217]

Perhaps, it can affect the cryptocurrency as a whole, but will not impact that much. We all know that the country of India has people that are widely exposed to computers and technology. So, there's no wonder that they know how to acquire cryptocurrency even without Government knowing it. And with that regard, I highly believe that they already contributing to the cryptocurrency space and the lifting of ban to their country will make them to access crypto easier. Who knows, maybe it will be a way for them to invite others who aren't into crypto to figure out how good cryptocurrency is for seamless transactions.

[Pamadar]

Perhaps, it can affect the cryptocurrency as a whole, but will not impact that much. We all know that the country of India has people that are widely exposed to computers and technology. So, there's no wonder that they know how to acquire cryptocurrency even without Government knowing it. And with that regard, I highly believe that they already contributing to the cryptocurrency space and the lifting of ban to their country will make them to access crypto easier. Who knows, maybe it will be a way for them to invite others who aren't into crypto to figure out how good cryptocurrency is for seamless transactions.

They've got a lots in terms of populations, if most of them will be exposed and begin to use crypto since the government already lifted the ban of using it from their country, the chance to accumulate more supports and more interested people to invest and work inside this industry. Crypto business will be more healthy and the impact might be positive to the entire market.

[joinfree]

The impact of this recent update from India is little to no in terms of its impact on the price of bitcoin. India is a developing country and does not have much investors putting in any huge amount of money into the investing in cryptocurrencies. The countries whose approval of bitcoin will cause a major rise will be China, USA, Russia, Germany etc.

[hermawan9416]

Now, perhaps not, but in the future, this will seriously affect the price of bitcoin.

[conected]

The impact of this recent update from India is little to no in terms of its impact on the price of bitcoin. India is a developing country and does not have much investors putting in any huge amount of money into the investing in cryptocurrencies. The countries whose approval of bitcoin will cause a major rise will be China, USA, Russia, Germany etc.

- I also agree that the impact in the removal process of this ban will affect bitcoin's value very little but the reason is not your analogy, the reason I think about is the hype of information, topics and information surrounding bitcoin is always an opportunity to trigger volatility in the market, investors like FOMO such information, so events from India will cause slight fluctuations in the market. However, the accuracy and probability of this information is not too high, observing the direct movement will probably see more opportunities, instead of relying on information.

[Assface16678]

The impact of this recent update from India is little to no in terms of its impact on the price of bitcoin. India is a developing country and does not have much investors putting in any huge amount of money into the investing in cryptocurrencies. The countries whose approval of bitcoin will cause a major rise will be China, USA, Russia, Germany etc.

One of the largest country today already accepted the use of cryptocurrency and that is the Indian today the market price of the bitcoin and all of the other coin are fall down because of the pandemic virus that is the covid 19 and some of the people today are worried about the cryptocurrency if India make a move like the other country who is already adopted the use of crypto I think they will change into the whole market. But still, we are looking forward to the acceptance of the other country for the use of the crypto because it is the most secure and fastest transaction without any hassle of payment also we are getting avoid the contact to the scammers because all of the transactions are safe and legal.

[btc78]

well it takes effect for a while because it followed by South Korean adoption of Bitcoin also but just few days after?

here we are dumping and dumping continuously and no sign of growing up again even there are many Good news happens recently.

i think some part of manipulation are taking place this days because in past these kind of good news means pump for market as i observed opposite is happening nowadays .

[Mpamaegbu]

I don’t know of this sure but there are a lot going on that seems to be affecting the Bitcoin price right now, and not just bitcoin but every other assets and stocks market.

There is Coronavirus fear and it seems to be affecting everything, the price for everything has been decreased to a very low, Bitcoin has fallen back to around the rate of $7,000 after making its to $9,000 plus and apart from that miners has been another case since they started selling out less of what they mined. There are still a few other things that may have possibly affected the price of Bitcoin and caused it to fall.

Of course the global crisis in the health sector caused by the novel coronavirus has hugely hampered the economy. All businesses are directly or indirectly affected now, whether we admit it or not. And talking about the crash in the crypto industry not affecting only Bitcoin, we know Bitcoin leads the industry. If it bleeds, the rest bleeds.

[Vishnu.Reang]

Those who are outside India may be unfamiliar with the situation in India right now. Let me explain a bit. In India, the Supreme Court and the government are having serious disagreements on a number of issues, and the legality of cryptocurrency is just one of these topics. And another thing that everyone should remember right now is that very few among the government ministers are having a good amount of knowledge about cryptocurrency. And therefore, the bureaucrats are the one who formulates laws and regulations regarding this subject.

A few months back, one of these bureaucrats (Subhash Chandra Garg, the then Finance Secretary of India) came up with a suggestion to impose a 10-year jail term on anyone holding cryptocurrency. He formulated a detailed regulation on the ownership of cryptocurrency, which included harsh punishments to anyone even remotely associated with crypto. Fortunately for us, this draft regulation never got approved by the government. Mr. Garg was fired from his position in 2019, after he entered in to a bitter duel with the leadership of the Hinduist RSS, over the subject of sovereign bond scheme.

[Chris Barth]

From my own perspective, YES; It would have an impact. This is because a lot of Indians are into the crypto world. Some of them are bounty hunters, some of them are traders, etc. If the ban is lifted, all the Indians who were not sure to step in or step out would be know their grounds and I'm sure they are many of them. I still remember seeing some comments on a thread where some Indians were complaining about the ban. That alone shows how enthusiastic they are. And mind you, this impact could be negative or positive. I just hope that the ban be lifted (for the growth of bitcoin and other cryptocurrencies and for the betterment of all Indians).

[BuNga_cute]

Of course the lifting of the cryptocurrecy ban in India has had a positive impact on the price of bitcoin. As we know the population of India
including the most in the world besides China. So with the legal bitcoin now in India, Indian citizens are very likely to buy bitcoin and can
be used in daily life. With Indians who are likely to increase who know cryptocurrency, possibility is likely to have an impact on the demand
for bitcoin on the rise and this will also have an impact on the price of bitcoin on the market.