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India has announced that it is banning all cryptocurrencies. Bitcoin increased a lot in value last year reaching around the $20,000 mark at the end of 2018, but Bitcoin hasn't been off to a good start this year. With many news at the start of 2018 coming from various countries about the banning cryptocurrencies, the market has been hugely affected. Due to the ban of cryptocurrencies in India, Bitcoin has now dropped near to the $9,000 mark. This ban has also affected other cryptocurrencies as well.