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Screenshot of a breaking news alert e-mail from Q2 2017
Not only South Korea and China are looking for ways to ban cryptos. India has joined them in what now seems a “worldwide” effort to control the heat that the market enjoys and especially the huge market cap that cryptos saw a month ago – $750 billion.
John McAfee, one of the world’s most famous cryptocurrency experts and a prominent figure in tech and finance, spoke about his confidence in Bitcoin and blamed Indian banks on the cryptocurrencies’ prices fall.
In his Twitter account, McAfee told investors “not to worry” by the recent downturns that digital currencies experience. He added:
“Banks in India are cracking down on accounts connected to crypto exchanges, causing the dip. But distributed exchanges are only a few months away. Impossible to crack down on.”
A huge Bitcoin enthusiast, McAfee doesn’t believe that Bitcoin will fall. Just on the contrary, the crypto expert shared that according to him, Bitcoin will be back with vengeance from whatever low it experienced. In his words:
“Who cares what bottom Bitcoin hits? It will be back in less than a month. Fiat currencies are the water. Cryptocurrencies are the floating objects. Push one down as deep as you want. It will, with certainty, rush back to the top.”
Suggesting that Bitcoin will soon return to its “Bull”-run graphs, McAfee slandered fiat currencies and praised the value and “persistence” of the digital currency market.
Just recently, some of the major and biggest Indian banks, including State Bank of India, Axis Bank, ICICI Bank, HDFC Bank and Yes Bank had suspended some accounts of major Bitcoin exchanges in India on suspicion of certain transactions made.