Instead of a strong November as predicted by some experts, crypto owners are currently having to digest quite steep falling prices. These losses are widespread and affect a large number of well-known crypto-currencies, Bitcoin (hardware wallet from 59 euros at Amazon) in particular expected to lose 17% of its value after its record at the beginning of the month, while the Shiba coin Inu over the past four weeks, the price has even dropped by 60%. New anti-crypto laws in India are now exacerbating this situation.
According to a report by Barron’s, the Indian government has announced a corresponding bill that would largely ban private ownership of cryptocurrencies. After comparable anti-crypto laws have already been introduced in China and are now being enforced, the world’s two most populous countries with a combined population of 2.8 billion are said to have massively restricted legal access to cryptocurrencies. But like in China, the Indian government also leaves a small loophole open here.
It is postulated that certain digital currencies will be exempt from this ban on Crypto in India. This would allow the launch of a specially created cryptocurrency regulated by the Central Bank of India. A similar development has been observed in China with the introduction of the e-yuan. It remains to be seen what impact the anti-crypto policies of these two countries will have in the long run. While experts currently consider Bitcoin “oversold” and predict an imminent price increase, interest in the Shiba Inu coin is said to be on the decline, which is why analysts are predicting further losses for the coin itself.
This article is published for informational purposes only and does not constitute investment advice.
The tech bug caught me at a young age, when I took my first steps into PCs in the Pentium II era. Since then, modding, overclocking, and meticulous care of my hardware has just been part of it for me. During my studies, I also developed a particular interest in mobile technologies, which can make stressful everyday student life much easier. After finding my love for creating web content while working in marketing, I set out as an editor at Notebookcheck to research the hottest topics in the fascinating world of technology. Outside of the office, I have a particular passion for motorsport and mountain biking.