In India, the question of whether and in what form the government could ban cryptocurrencies has been raised for some time. Now plans of such a ban are becoming more concrete.
On 11 February 2021, the media company Bloomberg had a conversation with an anonymous source. The source claimed that the Indian government was planning to ban cryptocurrencies like a Bitcoin Code review altogether soon. According to the source, he is a high-ranking official of the Indian Ministry of Finance. The government is said to be planning to introduce a crypto-ban by law in the near future that will completely ban the use of crypto-assets. The government wants to create a framework for an official digital currency issued by the Reserve Bank of India (RBI). However, there would also be some exceptions, according to the Indian Parliament Lok Sabha Bulletin:
The bill also seeks to ban all private cryptocurrencies in India. However, it provides for certain exemptions to promote the underlying technology of cryptocurrency and its use.
During the interview, the anonymous source spoke of a transitional period before the law came into force. Accordingly, crypto investors would still have three to six months to convert their crypto assets into fiat currencies. However, the said transition period does not change the fact that the impending ban is causing a lot of concern to many cryptocurrency followers and owners in India. One of them is Sathvik Vishwanath, co-founder and CEO of the Indian trading platform Unocoin:
If the government bans all cryptocurrencies except the government-backed CBDC, there is no point in continuing our business in India. But we have to wait and watch.
Back in August 2020, the Indian government let it be known that it was tweaking a crypto ban by law. This was a time when India was experiencing a real crypto boom. Cryptocurrencies have been a thorn in the side of the Reserve Bank of India (RBI) for a long time. In 2018, the RBI had already banned private cryptocurrencies for the first time. In March 2020, however, the Supreme Court of India lifted this ban again. Influential investor houses like JPMorgan, spoke out in favour of Bitcoin and other cryptocurrencies at that time. Later, major payment service providers like PayPal adopted Bitcoin as a payment method. Recently, MasterCard also announced its intention to introduce payments with cryptocurrencies. When exactly the ban on cryptocurrencies will come into force in India remains to be seen.
BTC ha tenido un rendimiento inferior frente a altcoins desde que cayó desde más de $ 42k a mínimos por debajo de $ 30K.
Es posible que los inversores que están aburridos por el comercio mediocre actual en el mercado de BTC no tengan que esperar mucho tiempo para que el BTCUSD vuelva al alza . Un indicador del mercado es la predicción de un retorno al Bull Run, lo que da a los inversores motivos para el optimismo.
Según el índice de ganancias de producción gastado (SOPR) de Bitcoin compartido por la firma de análisis en cadena Glassnode, el comercio actual de rango limitado en bitcoin está casi completo.
El SOPR rastrea si los hodlers están vendiendo sus monedas con ganancias o pérdidas y puede ser una herramienta poderosa para predecir cuándo el precio de BTC está a punto de restablecerse y subir.
Al analizar el SOPR, el popular analista de cifrado CryptoHamster estuvo de acuerdo con los datos de Glassnode que muestran que la consolidación actual de BTC terminará pronto.
„Entonces, si estamos en un mercado alcista ahora, según el SOPR, la corrección aún no ha terminado, pero terminará pronto“, tuiteó el analista mientras compartía el gráfico a continuación.