Hi...Guys
What you think about the Asian county like China and India have impact on cryptocurrency and blockchain adoption and price. As they have the majority of population ( After government regulation)
hi. i think it has a lot of influence already, many users can be spotted from there. besides, come of their companies are adopting blockchain technology and they can afford inviting brains from abroad
The size of the cryptocurrency trading market in India is estimated at 5 million traders. India seems to be next in line to legalising Bitcoin, now that the government has agreed to regulate Bitcoin. The Indian government has agreed that regulating Bitcoin could be beneficial and is currently creating the laws to do so. The Reserve Bank of India is also considering using the blockchain technology in banking. The committee will not only examine the present scenario of crypto currencies in India and around the globe, but will also suggest measures and means to deal with consumer protection, education and money laundering.
And for fact if every person in india Buy $1000 (0.15BTC) worth of bitcoin then according to current supply of bitcoin the price of bitcoin will be $141500.
Total Population of india: 1330000000
Current Supply of bitcoin: 17,342,400 BTC
Current Market Value: $112,398,254,527
So {(1330000000*$1000)+$112,398,254,527)/17,342,400 BTC}= $141500 Per 1 BTC Its Just India, China is still not counted yet.