After China and Jamie it was India's turn to come out with a bearish news on Bitcoin. Only a few months ago India the second most populous nation in the world had decided to back Bitcoin. However today it came out with a statement saying it is looking at fiat cryptocurrencies but is not comfortable with bitcoins or virtual currency (VC).
Here are the details about the RBI executive director speech.
My read on this is that they want to come up with their own Reserve currency.
Be careful about buying the dips on crypto the chart are turning bearish.