RBI Will ban all crypto exchanges and institutes from using banking facilities. I.e No crypto exchange or an institution registered in India can allow their users to buy or sell crypto using Banking facilities.
Though traders can use P2P system served by major exchanges such as local bitcoins in order to buy and sell the bitcoins, this law is mainly actionable on registered crypto institutions only.
This can really effect BTC Value as India hold the major share of crypto traders but Exchanges are implementing P2P protocol between sellers and buyers & standing as middleman escrow.
Strong support at 6400$ but if that breaks BTC Can be lowered a bit but overall mid & long term signs are Bullish!
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