The Reserve Bank of India (RBI) has announced that the bank will no longer provide services to any person or business that deals with cryptocurrencies, adding that it is also looking into releasing its own cryptocurrency in the future, according to a “Statement on Developmental and Regulatory Policies” released today, April 5.
In Indian Crypto Market , Exchange exploited this news and dumped market price of cryptos by 20% - 30% and more with Inr pair which earlier traded at a inflated rate of 10% -15% or we can say margin are good for exchange earlier . Now they are manupulating the market and exchanges like Zebpay , Koinex , Bitbnb and many more in line dumped the prices of cryptos on their exchange which are relatively much lower than the International Market Prices of cryptos . At this time Actual Price of Bitcoin is above $7000(dollars) in international market. More than 70% of the trader are new to the market with weak hands how come to earn short term profit which didn't happen and they lose rather than holding their good crypto assets on which you had beileve that could perform well in mid and long run .
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Being an Indian , just think what worse can happen , we can see a total ban on bitcoin in India then what Just hold your coin for some news by the govt. or you can sell your coins in these countries where it has been granted a legal status , which are legal in Morocco , Nigeria , South Africa , Namibia , Zimbabwe , Canada , United States , Mexico ,Nicaragua , Costa Rica , Jamaica , Trinidad and Tobago , Argentina , Bolivia , Brazil , Chile , Colombia , Ecuador , Cyprus , United Arab Emirates ,Israel , Saudi Arab , Jordan , Lebanon , turkey , Iran , India , Pakistan , Japan , China , Hong Kong , South Korea , Taiwan , Indonesia ,Malaysia , Philippines , Singapore ,Thailand , Vietnam , Croatia , Czech Republic , German , Poland , Romania , Slovakia , Slovenia , Switzerland , Ukraine , Denmark , Estonia , Finland , Iceland , Lithuania , Norway , Russia , Sweden , Bosnia and Herzegovina , Bulgaria, Greece , Italy , Malta , Macedonia , Portugal , Spain , Belgium , France , Ireland , Luxembourg , Netherlands , United Kingdom , Australia , New Zealand and many more will be coming in future .
People don't get it If you are entering a trade without any Research then there is a huge possibility to lose money rather to earn some , Never enter a trade how is already experiencing ATH (all time high) price , its basic rule whatever goes up come down with more momentum with which it started its bull run , In this market whatever goes up , comes down even more quicker and 60%-70% pull back is common in crypto space in case of every coin sometimes prices have come down even more drastically about 90% or more .
Everytime is a good time to invest in Bitcoin if you are going for long HODL (hold on for dear life ) , incase of other crptos while investing do your own reasearch .
Price Predictions of bitcoin for the Year 2018 is $36K and in my opinion Btc will touch a price of atleast $50k in 2018 and may see a pull back in between $20k-$30k . And moreover there is a possibility , we may see a bull run in 2019 what we say in 2017 . I have read some fact about bitcoin price That Whatever has happened in the past does not affect bitcoin price in future , Its rare and scarce .
According to my point of view Regulations are good which will give Bitcoin more Exposure and popularity in long run and price of Bitcoin will touch new highs .