Ok folks, we all know India’s annoying attitude towards crypto and nothing changed since 2018. First they propose criminalisation laws and now [this](https://www.reuters.com/article/us-india-cryptocurrency-ban/india-to-propose-cryptocurrency-ban-penalising-miners-traders-source-idUSKBN2B60R0)? If they want to cut themselves off the crypto‘s growing fruits, fair enough, but how much Bitcoin will loose in real if India’s hodlers were to sell everything overnight and new buyers disappear?
I am just trying to think about the worse scenario and how it may impact the market. I know as well no matter what there will be always smart guys in India capable to bypass the system. Also let’s not forget that country’s population is essentially poor and has no access to internet even. So it’s certainly NOT a Bitcoin marker of +1 billions people. For 2021 I am more expecting a range of 1-3 million middle and wealthy classe hodlers or potential buyers. Do you think it’s a realistic count and/or it will shake the market if gone?
Any thoughts, any stats to share? Thanks