Bitcoin Price trades at $750, $900 in India

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Bitcoin Price trades at $750, $900 in India

The bitcoin price is currently trading at $750, its highest level in five months.

At the moment, bitcoin price rose by about 2%, and by $50 since this Monday.

Recently we said that the election of the 45th U.S.A. President Donald Trump might be one of the reasons behindthis bitcoin Price growth.

Earlier this week the bitcoin price grow of about $30 in just one hour, and now bitcoin is approaching the 2016 high it reached in June, when the price was at $764.

At that time, bitcoin price was growing mainly due to the halving eventas experts explained that it has a key role in the growth of demand, as it reduces the block reward by 50%.

Conversely, this time the bitcoin price growth is not attributable to a single cause.

Recently, bitcoin has been enjoying bullish feelings among its avid traders, and there are a few signs that its recent ascent might have been drived by foreign market forces.

For example, India has recently experienced a ban on certain denominations of banknotes, a development that local bitcoin companies claim has supported business, though public data platforms (including LocalBitcoins) explain the effects are not so clear.

In fact, on the Indian exchange Unocoin, one bitcoin traded for 61,688 India rupees, or more than $900, an event that boosts claims of strong local demand.

Another reason why the price is growing could be the devaluation of China’s yuan, as it is falling down this week.

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Amelia Tomasicchio
Amelia Tomasicchio

Amelia Tomasicchio is a content writer and marketer of Bitcoin-related news and fintech startups. She started writing about Bitcoin in 2014 and she graduated in Rome with an essay about movie industry related to Bitcoin.

One thought on “Bitcoin Price trades at $750, $900 in India

Bitcoin Price today Breaches $750 – HolyTransaction's blogPosted on  5:32 pm - Dec 2, 2016

[…] is the sixth time that bitcoin price breaches $750 since mid-November, as revealed by the CoinDesk USD Bitcoin Price […]

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