Bitcoin Forum

We have seen similar situations when demonetization of top bank notes happened in late 2016. Now Again Indian markets are trading ~$200 ahead of rest of markets. India sell bitcoins for ~$1420.

I checked India prices here : https://www.unocoin.com

Edit : Another Indian exchange trades bitcoins at ~1460 https://www.zebpay.com

interesting, i remember the first time this happened the Zebpay and exchanges like that were higher but not by a lot. the high prices were mostly on localbitcoins and it was understandable since their access to their bank accounts were limited.

but do we have any reason for this difference today?

Good to see India getting involved, they have always been big buyers of Gold, but they have been cracking down on gold ownership recently.
Stupidly getting rid of 'large' denomination bank notes not only hurt their economy, but destroys trust in their currency.

I like the quotes on the Unocoin website:

"Bitcoins per se are not illegal in India. This is in consonance with international approach"

per se not illegal! not confidence building!

What kind of an idiot buys at $1500 when the price is more than $200 below that?

I think the more important question is if we could sell coins to those desperate chaps in India and how do we do it?

Because they can't get it for $200 below that.

I just wonder a legendary member asks how bitcoin prices are being determined.

Could you explain why bitstamp and bitfinex are not showing same prices all the times ? Or Could you explain why people here in this forum are paying 5% to 20% extra than preev rates ?

People who want to buy bitcoins with their local currency pay extra than major exchanges. No surprises nor brainless action.

well as i said above the reason for the first time this rise in price in Indian markets happened was because Indians had limitations on their bank withdrawals so the only way they could buy bitcoin was through cash and other payment methods on localbitcoins.

i actually am buying bitcoin lower than 5% above preev rates with my local currency. and we don't have any exchange like zebpay in our country even :D

India is in a hell hole situation now. Their local currency it's collapsing, it's a crumbling economy, an exploding society. Very sad to see, a lot of smart kids in india that could be the next bill gates, but they are stuck in that trap. Hopefully bitcoin helps some people to save their wealth from the bureaucrats.

This just underscores the fact that not all people who buy bitcoins are speculators.

because they have restriction, and because the market will soon be at $1500 anyway, it's not like they are overbuying the vlaue that much, $200 more can be done with a bull run like this, it's not so out of mind, if i was desperate to buy bitcoin and the only possibility was to overpay it a bit, i would do it for now, because the price will explode very soon

India will first become country with highest population, then strongest economy on world and last the strongest military force. This will all happen in this century.


Obsession with China on this forum and in general with USA citizens is way over hyped.

Lmao India the world's strongest economy and military? What a joke.

That is the difficulty - India operates capital controls. So you can send your bitcoin there and sell it for fiat, but you won't be able to get your fiat out again.

India already is the strongest smelling country on the world. Not a good thing.

Anybody who doesn't have access to international bitcoin exchanges but is smart enough to accumulate bitcoins now?
I would call them intelligent, not idiots.  :)

This too might be a smell of etf approval. As the price after etf approval is expected to go high as well chance of approval too is high. So Indian traders might have planned to accumulate at the current price and get an added profit in a short.

So, i can't take my money back into the outside of the exchange site with the indian currency? Ummmm.... It's not legit.  ???

Its great to see Indians getting attracted to get into bitcoin. I know many Indians who are now tracking bitcoin news and updates after demonitization and are interested to invest when price of bitcoin corrects. They must be bullish on the ETF approval and might be betting on it to help bitcoin price to climb to more levels.

Indian people have figured it out, and it is something that lots of us have not yet accepted.
bitcoin is gold 2.0 and right now it may seem at a high price with all the all tme high ATH calls and repeating the similar words over and over again, but the fact remains that price of bitcoin is rising and will rise big time.

this means even if you buy bitcoin at $2000 right now you are still going to make a lot of profit.

So far It is the biggest price among the popular exchange sites even in our local. I never tried selling my coins in other exchange sites aside from our local. Indians are good in promoting, a lot of them are really active in investing bitcoin related and they are known as a great adopter of current trends.

Surely India is getting serious with the market of bitcoin. And if I were living there probably I'll sell some of my coins there. I assume that zebpay is assuming that the price of bitcoin will be higher than $1,500 so they are trying to buy bitcoins at that price. But I'm wondering why do they need to do that if the price is not coming up to that point.

If realy in india exchanger bitcoin price until reach 1500 dollar
i think india people can easy to take profit use arbitrage trading strategy

you can team work in youre friend from india, you buy in local exchanger and selling to youre friend from india

no that is wrong.
because simply put, if there was opportunity to do arbitrage trading, price wouldn't have been high in first place or didn't stay high at least. why do you think bitfinex and bitstamp and kraken and .... have the same price? it is not magic.

Especially one whos been 'flipping coins since 2007'

https://s4.postimg.org/ji3lh58n1/code_2.jpg

the most interesting part of this higher price to me is the accompanied high volume. i could have expected a lower volume with much higher price but it seems like the demand coming from India is so much more than we could have expected.

it seems like Indians are going to be the new Chinese.

India is one of the largest technology hub in Asia. I am not surprised that the people at India believe in Bitcoin and is investing into it. Hopefully that this hot topic in India will bring Bitcoin up again. And then more people will believe in Bitcoin and give it a go. :).

Singapore could be next.

India volume
https://exchangewar.info/coinprice?btc_inr