Recently Due to Heavy Trending news on the topic of Cryptocurrency there is huge Rumors running on Bitcoins (BTC).
There is a False news on Facebook,Instagram,Twitter,etc. People randomly without even verifying started to post “BTC banned in India”. Lot of people after hearing this Fake trending rumor started to sell the bitcoins in loss.
Most of the people who invested in BTC Recently will be from middle class, after hearing the news of constant high rising in growth of Bitcoin from the past which has reached to the maximum, these people started to invest.
In the month of December 2017 bitcoin started to fall in the price slightly and in the end of january it decreased to 6 Lakh, when there was a sudden rumor saying “bitcoin banned in india” Many people started to sell it in the loss due to the fear of further fall.
The Price of Bitcoins keeps Fluctuating. I Request people who recently invested in bitcoin, kindly don’t sell it on loss.
Wait for the market to settle down back to Normal. Wait for it to increase. Sell the worth that you have invested keep the rest for more profit.
And While Investing in Cryptocurrency, Don’t Hope or have a lot trust on it. Only invest what you are willing to take risk or loose.
How did the Rumor go on Trend?
The bitcoin was never legal in india even in the past.
However what exactly said by the RBI was it is not a legal tender, which does not mean that is illegal.
For any loss involved in exchanging of bitcoin RBI is not responsible.
Government will try to remove all illegal activities which is going on through cryptocurrencies.
People started to misunderstand the news, they started to think on their own if its not legal it may be illegal.
Please make some Research before spreading or sharing what you got by some one who have forwarded you blindly.