[2016-11-17] Bitcoin Price Continues Surge, Nearly Scaling $750

[PHPSELLER]

As has been the trend in recent days stretching into weeks, Bitcoin is booming, making significant gains as demand surges, driven largely by Asian investors.

The Bitstamp Price Index (BPI) stuck a high of $749.98, continuing its ascend from yesterday’s high of $740. Bitcoin price struck yesterday’s milestone following a frenzied trading period where price rose 4% from $714.88 to $739.01 in a 30-minute period.

Read More: https://www.cryptocoinsnews.com/bitcoin-continues-surge-nearly-scaling-750/

[InvoKing]

the article is talking about the influence of Chinese demand & the devaluation of the Yuan and its influence on the bitcoin price which may be accurate..
for the Indian part of the story well i don't think that it is responsible on its own in driving the price up to 750 USD, it may has an influence but it isn't that big imo

[1Referee]

for the Indian part of the story well i don't think that it is responsible on its own in driving the price up to 750 USD, it may has an influence but it isn't that big imo

Demand coming from India is way too insignificant in order to have a real impact on the price. I think the idea of traders that Indian people will slowly find their way into Bitcoin, is what's really driving the price up. Again, a speculative increase. It's of course not the only reason, but as always, China is playing the most important role. Western exchanges just kindly follow the way up. After China, there are several smaller factors that might also have a certain amount of impact on the price when combined. Either way, these days are great for all holders.