Following recent false rumors about India seeking to ban the trading and use of bitcoin, investors got worried which further shook the then bearish market. Even though India, in fact, didn’t ban the use of bitcoin or the trading of it many investors were afraid of bitcoin’s future in India. Today, however, positive news about blockchain emerged from India. The current Prime Minister of India had this to say about the technology
Even though blockchain technology doesn’t directly translate to bitcoin, many knowledgeable individuals in the media have been pointing out the fact that bitcoin can’t be overlooked when talking about blockchain.
In regards to his comment about the need for rapid adaptation, this is not only true because of its superior capabilities, but also the actual need for something reliable and trustworthy in countries where some people don’t even have access to banks (Africa) or where the currency is breaking apart (Venezuela).
Whether this news was the reason or not, the entire cryptocurrency-market has had yet another great day with bitcoin being up 5.75% in the last 24 hours.