- Bitcoin prices have been under pressure on clampdown from RBI
- Other digital currencies also face severe pressure from RBI
- Finance ministry has also condemned widespread popularity of bitcoins
Ripple fell by 3.9%, bitcoin cash declined by 5.8%, litecoin fell by 6% and EOS saw its value falling by around 3%. Around a week ago, bitcoin price closed at $7,456. At the same time, two weeks and three weeks ago, the price of most popular cryptocurrency (bitcoin) had closed at $7,833 and $8,913. Also Read: End of Road For Bitcoins In India? RBI Issues 3-Month Ultimatum To Banks
On Luxembourg-based BitStamp, bitcoin trades at $6,727 while it closed at $6,780 a day before. On Bitstamp, the cryptocurrency had closed at $7,400 a week ago.
On India-based exchanges also, bitcoin price trades lower. On Zebpay, bitcoin price falls to Rs 4,38,350, ethereum trades at Rs 25,800, litecoin at Rs 7,450, ripple at Rs 31 and bitcoin cash at Rs 41,480.
He further said, "The deputy governor also said that the digital tokens are getting international attention and regulatory responses are not uniform. The investment in digital currency for speculative purposes can adversely impact market integrity, and capital controls, and if they grow in their critical size, they can endanger financial stability."