will RBI ban on crypto in INDIA effect international crypto market ?

in #steem5 years ago (edited)


As we all know RBI reserve bank of india wil not do transactions of crypto from today onwards but there is another hearing on this case which is on 20 july so we have wait for that.

Now the question remains is this scenario will affect international crypto marke. I will say no the reasons are

Indians have already opt different methods like local bitcoins and under the table .

Indians exchanges have already come with p2p transactions which is person to person.

Some of indian exchanges are shifting their business outside india far away from india's juridiction.

The new comers which enter is market only for money is already left crypto market.

Now the indian which are trading crypto are most of them professionals and they will not panic if market go down

So it is good for indian market.

RBI can ban crypto transactions through bank but not crypto.

so what is your view comment below let us know


To the question in your title, my Magic 8-Ball says:

Outlook not so good

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@akrblogs I dont think it will affect that much in the price because majority Indians who are in crypto either have pulled out from the market in FUD or stayed in the market to go for the long run.
What ever maybe the decision, people can't panic sell as the bank ties are already cut off.
What do you think @akrblogs? Is this a possibility?

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