do u think, it can be concluded that India led the rally of 2016
No. Buying
BTC at this price is madness.
Indians are clever guys, they will not spend their money on such currency.
You are completely wrong. There is high chance that Bitcoin price won't ever go back to under $800 value. So this might be new stable price/future resistance point.
Indians are very smart to join bitcoin race now - the problem is that India is lacking exchanges with high bitcoin volume - since BTC is so scarce in India they have to buy overpriced Bitcoins.
This is the reason why India is acting like motor for continuous upward trend.
