Post
Topic
Board India
Merits 1 from 1 user
Re: Bitcoin trading growing in India
by
madhavsinghrajput
on 10/06/2020, 05:48:14 UTC
⭐ Merited by Heisenberg_Hunter (1)
yes it is all over the news making headline.
https://www.bloombergquint.com/business/cryptocurrency-market-fashions-its-indian-comeback
People are bullish on bitcoin.Coin DCX one of india's exchage said and i quote "“We saw nearly a 10x spike in sign-ups, post the Supreme Court judgment." and that is overwhelming. They also said there is growth of 78.36% in BTC/INR trading.
Ajeet khurana former head of the BAAC said and i quote""Two factors are driving up volumes. First, most volumes on crypto exchanges are trading volumes and some traders have come back to the market post the SC judgment. It is largely not fresh investor money pouring in yet. If the latter had happened the price of say bitcoin would've been far higher than it is. This is because fairly small fiat currency inflows change cryptocurrency price in a big way".
I personally feel that this will force new investors to get into this market.
Please find above information and more on below link
https://www.livemint.com/money/personal-finance/crypto-trading-rises-in-india-after-sc-overturns-rbi-payments-ban-11587466139986.html