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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Study Shows Soon To Be Banned India Is Second Most Interested Country In Crypto

Tony "The Bull" Severino
Tony "The Bull" Severino
1 year ago
2 mins read
bitcoin india ban crypto

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Created by industry experts and meticulously reviewed
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The soaring interest surrounding crypto assets like Bitcoin, Ethereum, and other altcoins, is highly centralized in the United States compared to the rest of the world. However, a new study shows that India ranks second, behind only the US in terms of overall interest in digital currencies.

What’s notable about this new finding, is that the country is expected to make a landmark move in banning its citizens from transacting in cryptocurrencies. Here’s how other countries rank in terms of overall interest, as well as what the rising interest in India means for any potential ban.

US Dominates Interest In Crypto Assets, Top Ten Countries Ranked And Revealed

Bitcoin adoption is spreading like wildfire all across the globe, but nowhere else more so than on Wall Street and the rest of the US. Data supporting the most crypto industry interest stemming from the United States has existed for a long time now, but is once again backed up in a new study.

Related Reading | How Bitcoin Will Become A “Report Card” On The Government

The US has more than three times the search volume as the next county ranked on the list, reaching more than 7000 queries per day. Interestingly, right behind the United States is India – a country that could soon see Bitcoin and other crypto assets like Ethereum, DeFi tokens, and NFTs all banned.

Below the US and India, ranks the United Kingdom, Indonesia, Canada, Vietnam, Australia, Nigeria, the Philippines, and Thailand to round out the top ten. The rest of the top twenty consists of more European and Asian countries, as well as South Africa.

bitcoin india us ranks crypto

Explosive Bitcoin growth has governments shaken. Could crypto eventually replace fiat? | Source: BTCUSD on TradingView.com

Why India Banning Bitcoin Is A Very Bad Idea That Could Backfire

With interest so high in India compared to the rest of the world, its government is potentially making a grave mistake if it does choose to pass a law banning the ownership, trade, storage, mining, and more of cryptocurrencies.

Decentralized digital currencies are censorship resistant, and if stored in a user-owned cold storage wallet, cannot be confiscated. The government will have a hard time prying the assets from the offline accounts of its citizens, regardless of any law it passes.

Related Reading | Domino Effect: Is India The Start Of Weaker Governments Banning Bitcoin?

Bitcoin was created to be used without the need for a third-party intermediary for this very reason. India is planning to introduce its own digital currency, and sees cryptocurrencies currently as a threat.

However, in establishing laws to prevent its spread, the government in India might end up fueling its growth and adoption even further.

Featured image from Deposit Photos, Charts from TradingView.com
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Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Read more

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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Strict editorial policy that focuses on accuracy, relevance, and impartiality

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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