Bitcoin Forum

Bitcoin prices are much higher in India

Bitcoin price in India is always at a premium. Just wait and see Zimbabwe mate. Just check how much bitcoin is in that country. This is an old steemit articles though explaining why the spread is much higher in India against its Western counterpart:

https://steemit.com/bitcoin/@candy49/mystery-solved-as-to-why-the-bitcoin-price-in-india-is-higher-than-the-price-on-western-exchanges

As I was saying, Zimbabwe is well above the average bitcoin price:


http://allafrica.com/stories/201711270962.html

Wow that's a huge difference people who are from Zimbabwe and India that holds bitcoin must be lucky if they can instantly sell their bitcoin above $10k. The fees on that hawala system is overkill.  Anyone know what's the reason behind Zimbabwe's higher bitcoin price 65% is just unbelievable. Thanks for sharing those links.

I think this is due to the more competition between the bitcoin traders because people will sell to the person who offers more money so the traders are trying to attract with the extra price from the world market.But people from india are lucky because they will sell their bitcoin for good price.

LOL. As I know it's not the highest price of Bitcoin all over the world. If you want to see higher price of Bitcoin you should take a look at the price of Bitcoin in Zimbabwe, when Bitcoin price in almost countries all over the world was only 9k$ but in Zimbabwe it was 12k$ per Bitcoin :))

if this was true, then I would be very happy with and happy for such a country as Zimbabwe. this is how much you need to have the resources to be willing to pay such money for bitcoin. I think that this story of the field of fiction. but what we see different prices bitcoin today, and uniquely make sure that the predictions of good future bitcoin justified.

This has been true for a long time. People in countries which impose capital controls tend to value Bitcoin a lot more. Countries will soon realize that capital controls do not work in a connected world.
When demonetization was imposed in India, demand exploded and exchanges had to resort to rationing.  ;D

https://cointelegraph.com/news/bitcoin-demand-explodes-in-india-overwhelmed-exchanges-put-limits-on-purchases

In India I can say people are too lucky that are holding their bitcoins but I don't think that people who are in Zimbabwe are lucky.

They may have a big price for bitcoin but they have an economic crisis together with some political crisis intervention so they may have money / profit through bitcoin but if some of them are affected with what's happening there, they are still unlucky.

This is how the cryptocurrency market works - we have the main circuit (big international exchanges: bitfinex, bitstamp, coinbase )and then many lessers circuits - also called local markets.
Price of Bitcoin in Africa or India would always be higher because there is no liquidity on their exchanges and demand is always higher than the number of available coins.
I am still surprised that Indian market is not saturated enough to provide bitcoin for everyone. Is it hard to maintain exchange in India or something due to harsh regulations or something?

First of all Bitcoin, price is different each country depending upon factors like demand, exchange rules and so on. Coming to India, its price is above the international market because users are trying to dump their coin rather than continuous buying and selling. As stated by one of the prominent exchange "Zebpay" at the time of high volatility users are attracted and try to invest in Bitcoin but at the same time, sell order decreases subsequently leading to shortage of Bitcoin in market. Hence rise in price as compared to global market.


Coming to Zimbabwe, I don’t think you will really like the conditions and atmosphere of the country. There is a definite reason why price of Bitcoin is souring at $18,500 when globally price still struggles to reach $10,000. Just looked into the country and found some of the major reasons why price is driven to such extent and few of them can be noted as citizen of Zimbabwe are trying to move their asset and saving to decentralized currency as political turmoil deepens in the country. Further it may stuck with major economic and financial conditions in the coming days due to which people are moving their asset to a currency which is not affected by the upcoming tension.

It is not the highest on the world! Venezuela and Zimbawbe are having high prices at the moment, and that is because the supply & demand of bitcoin in there.

Bitcoin is very precious in Zimbabwe, their inflation is growing they by day and i have read an article in where they were saying that Bitcoin was the only way out to finish with that kind of inflation.

Who knows if zimbabwe is going to be the first country to adopt bitcoin? it really makes sense because probably 10% of the total population of there is using bitcoin at the moment.

And their prices are about $13k per bitcoin.

It isn't the highest, don't forget recent news about
But that's good to know that India has a high price with bitcoin. I'm thinking about Indonesia that recently reported that they may ban bitcoin, I realized that they are two different countries. Indo and India  ;D
Each country can give their own price for bitcoin but they will not allow any intruder or foreigner that will try his/her luck to sell high or buy low at them.

I think their are many things that affect why the price of bitcoin in India is higher. For one, the country has high holdings of bitcoins in it. It has accepted and recognized bitcoin and has actually promoted it that people are more confident that although it can be risky, it still has lots of good more than the bad that keeps people coming to invest and trade using bitcoin. The saturation in the market helps many people in India to have or to add more to their already substantial holdings.

The reason for the high price in Zimbabwe is the great political and economic crisis that country is suffering, there is a great scarcity of dollars so people are trying to find other ways to store their wealth, now the government of Zimbabwe printed a currency with a 1:1 ratio to the dollar but it seems that like always they have been printing more of it so it is not weird for the price of bitcoin to be so high.