Bancroft, who sees his ban come to an end this week, revealed the same in an interview to Fox Sports.
"Dave suggested to me to carry the action out on the ball given the situation we were in the game and I didn't know any better. I didn't know any better because I just wanted to fit in and feel valued really," he said.
Smith and Warner were treated poorly by fans
The incident saw skipper Steve Smith and vice-captain Warner being handed a 12-month ban.
After Smith and Warner arrived in Australia, they were treated poorly by fans and in his press-conference the former Aussie skipper broke down completely.
They were barred from playing domestic Sheffield Shield and the Big Bash Twenty20 competition besides international cricket.
The decision was based around my values: Bancroft
"The decision was based around my values, what I valued at the time, and I valued fitting in ... you hope that fitting in earns you respect and with that, I guess, there came a pretty big cost for the mistake," added the Aussie opener.
Smith, Warner eyeing returns post March
Smith and Warner's suspensions are running out at the end of March.
The duo will be seen in the Indian Premier League 2019 season captaining the Rajasthan Royals and Sunrisers Hyderabad respectively.
Post the event, there is the ICC World Cup 2019, followed by the Ashes.
Both players will be desperate to return and will hope to be part of the international assignments.