After a tweet from India's biggest crypto exchange about RBI's ban on Fiat-Crypto trading, Indian exchanges again facing drastic downfall due to crypto sell off.
All traders are in a queue to sell their holdings because according to circular published by RBI, traders wont be able to convert crypto currency into fiat currency in India. It will be completely banned after 5th July, 2018. so everyone is in a hurry to book their positions.
At the time of writing, Bitcoin is trading 17% down & BCH is trading 18% down. All crypto currencies have similar kind of stats.
On the other hand, this situation gives cutting edge to all foreign investors, who can buy crypto from Indian exchanges & can book profit upto 20% within few hours.
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