Bitcoin Falls 5% After India Announce A Ban On This Cryptocurrency
On 16 March, Bitcoin has dropped from the record high of US$60,000 to US$55,865 after the India has a potential ban announcement where India is the Asia third largest economy is preparing a notice that it will be criminalised possession, issuance, mining, trading and transferring crypto-fascists, which it calls for banning private virtual currencies such as bitcoin.
But despite the government threats, the transaction volumes of 8 million investor and hold 100 billion rupees (US$1.4 billion) are in the crypto-investment. While many investors still believes the bitcoin’s price will remains tilted to the upside.
source ndtv