The price of bitcoin is around 900 usd in India.
It is just a matter of time when the rise from India spills over to other markets. In fact, the price of bitcoin have been above the other markets for some time (thanks to the cash issues I suppose).
https://localbitcoins.com/country/INMy speculation is that the majority of the weak hands have been shaken out and when we prepare for bitcoin mooning we might see actually new ATH of Monero as well both in terms of fiat and bitcoins (some of the bitcoin maximalists might diversify a little).
It may be, but the fundamentals simply do not support it. There is simply no way that Bitcoin,
with its 1 MB blocksize limit, can make even a minuscule dent in the cash transaction market in India no matter how many large denomination Indian rupee bills are taken out of circulation by the Indian government.
Why are you so convinced that SW+LN won't scale?
I think I should probably leave ArcticMine to answer that.
But AFAIK most of the 'increase' in blocksize with Segwit is for Segwit superfluous stuff, it won't massively increase the block capacity for transactions. No one knows where it is taking us and my personal instinct is it won't quite be Bitcoin anymore.
For me upping blocksize and just working to control spam with fees was easier and simple. With Segwit, I am not sure where it goes, I just hope it lasts for long enough to not spoil it all and allow better crypto tech to surpass it, hence my long term investment in XMR.