With RBI reversing its crypto ban in India or changing statements to consider it as a commodity, do you guys think India could push the price to the moon ?
When you ask if it will make bitcoin go to moon you mean to make bitcoin have increases of more than 25%? Because if that's the case I do not think it's possible that india make the price of bitcoin go to the moon, I say this because I do not see many people from India buying bitcoin with a debit card or credit card. the price of bitcoin will increase if it has a lot of demand, but the demand must come from people who buy bitcoin using their debit cards or credit cards. So we need to have many exchanges that allow your users to buy btc using their bank accounts.
India is one of the biggest countries in the world with the largest population and many of them are so into these type of online money. and in the past they have shown a lot of interest in bitcoin. i am sure if the way was paved for them they would adopt bitcoin with open arms and that adoption can increase the demand for bitcoin to the moon and take the price up with it.
But the question is: How many people in India buy bitcoin using their credit cards or using their debit cards?