Cybersecurity Expert McAfee Blames Indian Banks for Cryptocurrency Drop

Crypto investor and global cybersecurity developer John McAfee pinpoints cryptocurrency's current struggle on India's resistance to trading.

As Bitcoin's slow fall continues, other cryptocurrencies on the market are stagnating and starting to fall as well. While a number of experts hold their opinions regarding the 'decline of crypto,' famed cybersecurity expert and Bitcoin investor/advocate John McAfee told other investors not to abandon bitcoin yet. He even has a theory as to why cryptocurrencies are suffering -- India.

Earlier this month, Indian finance officials announced a crackdown on all exchanges of cryptocurrency by Indian banks. The effect would be similar to how cryptocurrency rates took a hit after various Asian markets started regulating policies more heavily.

As with a lot of his cryptocurrency insights, McAfee took to Twitter to share his thoughts. In the tweet, McAfee said, "Again...don’t panic. 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."

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