[2016-12-03] BS: Bitcoin price at 52-week high

Bitcoin price at 52-week high

http://www.business-standard.com/article/international/bitcoin-price-at-52-week-high-116120300878_1.html

The price of the bitcoin, a popular crypto currency, crossed its 52-week high on Friday at $774. The surge was seen initially after Donald Trump won the US presidential election early this month and now because of China putting controls on capital outflows, including quotas for importing gold. Chinese investors found solace in bitcoin as a safe heaven taking its price to 52-week high. A similar rising trend was seen in India soon after demonetisation of the currency on November 8.

Bitcoin prices in India have risen faster than international prices in the past few weeks. Usually, Indian prices were quoted at 3-5 per cent premium to international price as in India supply has always been limited. However, last week-end, bitcoin price on Indian exchanges was traded at Rs 69,000-70,000 per bitcoin, which was its all-time high price.