Tuesday, 19 September 2017

Cryptocurrency Market Status in India: After China Shutdown Bitcoin Exchange

Several reports have been coming from China within few week of the ban to ICO's and bitcoin exchange shut down. The massive fall in bitcoin price has been seen in last week. The Top Bitcoin Exchange in India was also looking on the matter when the sudden fall occurred to the cryptocurrency.

Many traders, investors, and analysts gave the quick response and got panic with the situation held with Bitcoin Exchanges in the country. The people started to Sell Bitcoin in India but some remained calm and waited for the right situation to act.

This is the time when the price of bitcoin falls down massively from $3,900 to $2, 980. This was the golden time to Buy Bitcoin in India. After a week the news of the ban on cryptocurrencies was hardly affecting the price of bitcoin as on August 18, Monday the bitcoin started surging again reaching to the Best Bitcoin Rate in the cryptocurrency industry.

The price of bitcoin passed $4,000, despite the shutdown of top Bitcoin exchange such as OKCoin, BTCC and etc in China by 30th September.

Now when the thing is coming back to normal, the price of bitcoin including all other cryptocurrencies also regain the strength in their value and top the market capitalization by an increase of $137 altogether.

2 comments:

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