What are the Reasons Behind the Increasing Bitcoin Prices in India? PCEX Member
The crypto market in India has widened after the Supreme Court of India struck down the banking ban on Cryptocurrencies which was imposed by Reserve Bank of India (RBI). Bitcoins, the high traded cryptocurrency, has surged its prices since the beginning. The crypto market has experienced a boom since it has come. It may seem hard to believe that a decentralized digital currency could be worth in lakhs. Although the lines and codes through which BTC are mined are worthless, the price of one BTC is 8,48,680.48 INR . It has gained a significant place in the investment industry because the transaction costs are much lower than credit cards. Bitcoins hold a universal value is a contradictory statement because its price in INR is different from its prices in USD. The reason behind the price fluctuations depends on the laws of supply and demand. This simply means that the price of BTC would be determined only by the amount the market is willing to pay for it which means if more people are in