$1000 before Jan. 1? Look at India
The disappointed expectation in the price of the world’s top digital currency, which slumped to a low of $864 on Christmas Day, and the market cap that reversed on the previous gains to $13.88 bln is now being corrected, a push Indian market insiders say will continue till at least Q1 2017. Bitcoin is now worth $915 after a sloppy Dec. 25 market, with the market cap standing at $14.6 bln. Why India again. The effect of the Indian market on Bitcoin is in the news again. The co-founder of Zebpay, Sandeep Goenka, believes that India should still be in the Bitcoin picture even though the....
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In a shock move, the Government of India has demonetized Rs. 500 and Rs 1000 banknotes. In India these are considered higher denomination banknotes, with the banknotes becoming obsolete starting from midnight on Nov. 9. The government has also announced the introduction of two new banknotes, Rs. 500 and Rs. 2000, to replace the demonetised money. Targeting so called ‘Black Money’. The government of India has taken this measure to effectively target people who conduct transactions primarily in cash and bypass the tax net. There is a belief within the government that most of this so called....
India withdraws INR 500 and INR 1000 denominations from the monetary system overnight. It is set in introduce new banknotes after successfully weeding out "black money'. The World was taken by a surprise yesterday after the emerging economy, India in a drastic move declared its INR 500 and INR 1000 banknotes as invalid, starting midnight. With two of the largest denominations declared invalid, the public is in a state of panic especially those who are used to handling large amounts of cash. The move, targeted at tackling the growing menace of money laundering and currency....
What could possibly happen if and when a tiny fraction - one percent - of the Indian population gets a hold on what Bitcoin could do for them in the country’s time of demonetization, which has forced the citizens into applying unusual efforts to access and use their hard-earned money? Something big, but not unexpected. For starters, a lot is happening globally and India is one of them. Taking Vinny Lingham’s tweet on Nov. 17, which says: “I don't think the market fully appreciates how much money is about to flow into Bitcoin over the next month.” With hashtags like; #india #trump #china....
We are living in a brave new world here in India. Enough has been written about the “end of cash” and how there will be a day when we will all be using digital money. Well that future has arrived for the one bln plus people of India. Ever since the demonetization of the Rs. 500 and Rs. 1000 banknotes on the midnight of Oct. 9, 2016, life has turned into a ghastly nightmare for billions of teeming masses. Things that we took for granted have become a challenge, not unequal to climbing the highest of Himalayan peaks. Welcome to cashless chaos, the story of a demonetized India. Cash starved....
It should no longer be a surprise that the price of Bitcoin hit $1000 this week on Japanese exchange Mt. Gox, but now, another exchange has creeped up to the $1000 mark. That's Bitstamp, of course. The exchange, which has always trailed a ways behind Mt. Gox (except for recently when the price between Mt. Gox and Bitstamp were nearly equal) is now in the 4 digits - which really reinforces just how valuable Bitcoin has become. The question is: will the $1000+ price keep it up?