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Why is this causing BTC to go down? I would have thought that the ban would cause its price to skyrocket due to its coveted illegality (and maybe also people
by dheera 6y ago
Why is this causing BTC to go down?
I would have thought that the ban would cause its price to skyrocket due to its coveted illegality (and maybe also people hyping it up to spite the government).
- Lev1a 6y agoProbably so that Indians cashing out can't get as much real money for their digital bucks.
- vessenes 6y agoThis has nothing to do with BTC price movement.
- dheera 6y agoWhy wouldn't it? Almost everything prohibited in the past has caused its price to increase during prohibition, and we're talking about a place with 1/6 of the world population here.
- vessenes 6y agoFair, I meant that the news was not related to bitcoin price drops today. Generally I agree that Bitcoin has benefited from the Streisand effect, often with some delays.