INDIA is a home of 11% world bitcoin trade.
Indian government is try to slow down this crypto craze is young indian audience,
There have been many statements made by financial minister of India that “Bitcoin is not a legal tender in India”.
There is no orders to ban bitcoin, government and reserve bank are issuing a warning not to buy bitcoin.
Why government is only issuing statements and not taking any actions?
If we look at the current situation in India, government is trying to create a fear, a doubt in the mind of the people about Bitcoin.
They are aware about the power of Bitcoin.
In last November they demonetized Indian Rupee in just one day, Bitcoin will take that power from these governments.
Now Indian citizens have an alternative to Rupee, so the government is losing their control over people.
Indian government does not want people to be more financially free but rather depend on the government, so they can do what they want with people life.
They want to rule people life not country.
Why Indian media is FUDing Bitcoin news?
Indian media has very close relation with ruling party, in this case BJP.
They will do anything to support the government so they can do their business.
There are news that they are paid to praise the government and do not show anything bad news about the government.
India media is also very rooted relationship with ruling party, they grow with the governments.
Probably now Indian media houses are buying bitcoins at such low prices.
Impact on Indian Youth by this FUD by media.
Since there are many new users of Bitcoin in India, most of them have joined in 2017.
These users will be highly stressed with these news, and most of them are having restless night.
These are very normal young people who have put their whole salaries in Bitcoin.
These people are selling out in a FUD, which media has created.
Most of the bitcoin users are young people in working in IT companies,
these people have put a lot of their savings into Bitcoin.
Indian media does not care about india or Indian youth and their money. They just want to more TRP.
Huge number of people have sold their bitcoin at huge loss, they have believed the news shown on media.
Their expectation and dreams all have sold out, they have to again work hard to earn that amount.