Quote from: jackrayan886 on March 19, 2021, 07:13:12 AM

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Bitcoin is on a bull run, and banning it will stop Indian investors from reaping the dividends. The below graph depicts the increase in the BTC price from June 2018 to March 02, 2021. From USD10,000 to USD50,000 – this is a spectacular rise. It’s hard to imagine a business or bank that can fetch this high return in a short time.

Cryptocurrency investors in India are of primarily two types. First, who wants an investment portfolio that has high growth potential.

They have a high-risk appetite and enjoy the volatility. These are mainly young investors who are low in patience when it comes to earning money. They may be proficient with technical analysis skills regarding investment or non-tech ones.

Second, there are investors who are a bit conservative. They see bitcoin investment as a hedging option against the growing market inflation. Compare the appreciation of bitcoin and gold from the above illustration, the traditional asset. Investment in bitcoin has a much higher ROI than the investment in gold. Bitcoin’s value has increased like anything, while gold stayed consistent. So, Indians are losing the charm in gold and shifting towards bitcoin. These investors are primarily the senior Indians who have witnessed the transition from featured phone to smartphone.

Read more about Buying Bitcoin in India

Bitcoin and cryptocurrency are getting popular among investors in India. Most of the time investors compare BTC with other existing trading assets like stocks, commodities, etc. However, BTC has proven over the years that it is the best trading asset with more than 500% return in just a short time span of just 4 months. This return percentage has attracted new investors to put money in the crypto market. Moreover, Celebs like ELON MUSK has openly supported BTC and exchanges in INDIA like Zebpay, Wazirx and Kuberswitch is promoting it like anything. I think it would be very dumb of the government to ban BTC at this time. It would not be just an opportunity loss but we will miss the tech revolution of the era.