Interest in Bitcoin just skyrocketed in India

[the_poet]

Following last week's ban on the highest notes in India, interest in Btc has literally skyrocketed, reaching new ATH.

[mobnepal]

Price is so high due to high demand and low amount of bitcoin sellers, currently 819.14 USD in unocoin
https://www.unocoin.com/charts

Actually this price is way higher than normal market rate, which shows the high level of bitcoin demand which even get increased due to the current banning on 500 and 1000 INR notes.

[s1ng]

Is it because of Trump effect ?
As I'm also experience bitcoin value increase since Trump got selected as President

[amacar2]

Is it because of Trump effect ?
As I'm also experience bitcoin value increase since Trump got selected as President

May be there is also some effect of trump getting elected in US but particularly price of bitcoin in india get increased as well as daily buy volume after indian government banned their highest valued paper moneys and started using paper money with new design to block all black money.

[clickerz]

Price is so high due to high demand and low amount of bitcoin sellers, currently 819.14 USD in unocoin
https://www.unocoin.com/charts

Actually this price is way higher than normal market rate, which shows the high level of bitcoin demand which even get increased due to the current banning on 500 and 1000 INR notes.

I noticed a high price at our local exchanger too. Is this due to Indias announcement last day that they will banned the 500 ,1.000 notes or any other reasons? Like uncertainty in America as Trump is the winner? or China? But still it is a good news for all of us.

[Minor Miner]

Following last week's ban on the highest notes in India, interest in Btc has literally skyrocketed, reaching new ATH.

I agree this will be very bullish for bitcoin but will take at least a month or so.    Indians will start storing their excess cash in bitcoin as they learn about it to prevent another government grab but I think the larger short term effect will be Western Europe and USA based Indians.
There are 100s of thousands of Indian workers in the USA and they may want to send money home to take advantage of this huge spread (bitcoin is getting over 20% premium right now in India).   So these USA based Indians could buy a home or even just send their parents cash to help out and they would be getting 20% more rupees for their US $ by sending bitcoin.

As we all know it takes time for a new person to set up and start buying bitcoin on the US exchanges but this would definitely be a group that coinbase et al. should be advertising to right now.

[Sir Alpha_goy]

Taking a look at that image reminds me of something:



Your thread should read:

Interest in Bitcoin just peaked in India.

Interest can only go down from here.

Chances are the ones that were interested in it first already bought when Bitcoin was lower in price when the interest started rising.

It is interesting to note that India's interest and Bitcoin's price rose in tandem.

I would be cautious with Bitcoin especially with a weaker Yuan and stronger Dollar.

[Blitzboy]

Wow, can't believe that the last week's forbidden can strongly affect bitcoin like that. Is that the reason why Bitcoin have just hit $730 today ? Yesterday, the price was only about $695 but know it have increased more than 5% for only a few hours

[Sir Alpha_goy]

Wow, can't believe that the last week's forbidden can strongly affect bitcoin like that. Is that the reason why Bitcoin have just hit $730 today ? Yesterday, the price was only about $695 but know it have increased more than 5% for only a few hours

Always watch out for price increases based on low volume.

It could be a trap in order to attract liquidity.

And when I say low volume I mean in comparison to other times price increased.

[Kprawn]

Taking a look at that image reminds me of something:



Your thread should read:

Interest in Bitcoin just peaked in India.

Interest can only go down from here.

Chances are the ones that were interested in it first already bought when Bitcoin was lower in price when the interest started rising.

It is interesting to note that India's interest and Bitcoin's price rose in tandem.

I would be cautious with Bitcoin especially with a weaker Yuan and stronger Dollar.

Ignore this post, this guy is a shill, just look at his post history. Make your own decisions when to buy and when not to buy. Anyone with a

bit of logical thinking can see that increased interest in India will drive up the price. The Trump presidency bumped the price, and now the

banning of the higher currencies are also bumping it too... So what is wrong with buying at a early stage, before more demand push it even

further... It's pure logic.

[xdrpx]

The "Interest over time" using google trends would not actually mean people are purchasing Bitcoins, but it could just mean they're learning about it or searching about SegWit or exchanges from where to buy it. But, if it is true that people are purchasing Bitcoins it could be because of the cash scarcity in almost every area in India. People could be using Bitcoin mobile applications like Zebpay to purchase movie tickets, purchase stuff on amazon and buy pizza's from Dominos and buy other stuff that usually they'd buy using cash. This is a pretty good thing to happen after the black money hoarders and corruption that was handled by making the Rs 500 and 1000 notes illegal tenders.

[Sir Alpha_goy]

Taking a look at that image reminds me of something:

https://s-media-cache-ak0.pinimg.com/originals/7f/22/ff/7f22fff4cd4f9965714f1f63b3fc8616.jpg\

Your thread should read:

Interest in Bitcoin just peaked in India.

Interest can only go down from here.

Chances are the ones that were interested in it first already bought when Bitcoin was lower in price when the interest started rising.

It is interesting to note that India's interest and Bitcoin's price rose in tandem.

I would be cautious with Bitcoin especially with a weaker Yuan and stronger Dollar.

Ignore this post, this guy is a shill, just look at his post history. Make your own decisions when to buy and when not to buy. Anyone with a

bit of logical thinking can see that increased interest in India will drive up the price. The Trump presidency bumped the price, and now the

banning of the higher currencies are also bumping it too... So what is wrong with buying at a early stage, before more demand push it even

further... It's pure logic.

That is all you got?

Trump presidency also crushed bonds and made the Dollar surge and Yuan weaken.

Long term you may have a point but don't ignore the short term just because I don't tow your party line.

When making choices it is wise to look at as many factors that your eyes will let you see.

The surge in Bitcoin interest in India has reached 100.

That is the limit.

I guess you know the exact lag between interest and prices?

What if there wasn't any major lag between interest and when Indians did or did not buy Bitcoin?

All I know is that physics dictates that when something sways one way and hits an extreme that it will go back in the opposite direction.

Therefore, interest has peaked in India and will go down from here.

Calling me a shill won't change that.

[the_poet]

Your thread should read:

Interest in Bitcoin just peaked in India.

Interest can only go down from here.

It's actually the opposite. It means people have realized the situation is serious and started looking for alternatives to their potentially worthless fiat money and one is Bitcoin.

[amacar2]

Wow, can't believe that the last week's forbidden can strongly affect bitcoin like that. Is that the reason why Bitcoin have just hit $730 today ? Yesterday, the price was only about $695 but know it have increased more than 5% for only a few hours

No price was always high in indian exchange platform and don't think indian buy force are enough to create 5% pump on price within a day. 

[Mastsetad]

Can be a good news for bitcoin as all bitcoin needs are investors, and if really the banning of notes is pushing people to convert their fiat to bitcoin then it would make it grow a little higher as demand would increase and that would increase the price a little as well.

[Catmony]

I think every country need to start banning their bigger notes so that people can understand how their governments can easily manipulate whole countries economy and can make what they consider as worthy cash into just paper overnight. And after that people will start to find better alternative and i don't think there is anything that can be considered more secured investment than bitcoin.  

[Sir Alpha_goy]

Your thread should read:

Interest in Bitcoin just peaked in India.

Interest can only go down from here.

It's actually the opposite. It means people have realized the situation is serious and started looking for alternatives to their potentially worthless fiat money and one is Bitcoin.

Show me on a Google Trend chart on any topic where the trend stayed at or exceeded 100 over an extend period of time.

Also, to the OP, what Google trends filters are you using?

I get this:

[Minosse]

India’s rupee restrictions are boosting demand for bitcoin

http://www.cnbc.com/2016/11/15/india-rupee-restriction-boost-bitcoin-digital-currency.html

[lite]

Following last week's ban on the highest notes in India, interest in Btc has literally skyrocketed, reaching new ATH.

I'm happy that the folks in India are finally waking up and investing their money into bitcoin. well, i hope to see new ath within this year heh.

[smho_16]

Glad that Indians are playing smart. In fact the buyers power there I guess it's not that high but however I have friends from India who work daily at faucetbox.com and other data entry or captcha solving services. It's good for their economy considering how big a bitcoin is and the enormous exchange rate of 1 USD to the local currency, rupee.