Good Chance for Bitcoin to approach $60,000 again
Bitcoin dropped from the all-time high price on Saturday: from $61,780 to $55,000 after the information that many reliable media (Reuters, CNBC etc) released that India will propose a law in order to ban all cryptocurrencies by penalizing miners and traders (possession, issuance, mining, trading and transferring)
India is a big player in the crypto market as more than 8 million investors hold $1.4 bn in cryptos. The maximum draw-down that Bitcoin performed after this, was 13.85% which is relatively low compared to the contribution of India in the cryptos world.
It gives a good chance for Bitcoin to recover and to approach the price area of $60,000 again.
