[2017-05-26] BS: Bitcoin trading at over Rs 2 lakh in India

Bitcoin trading at over Rs 2 lakh in India as global prices cross $2,500

http://www.business-standard.com/article/markets/bitcoin-trading-at-over-rs-2-lakh-in-india-as-global-prices-cross-2-500-117052500182_1.html

A surge in demand has seen a price rally in crypto-currencies worldwide, with buying led by investors in the US, China, Japan, Korea and even India.

The average bitcoin price is around $2,670, about 155 per cent more than at the beginning of the year. In India, it went up to trade at Rs 2.26 lakh at the time of writing this report.

With supply lagging, the India price is at a 20 per cent premium to the global one; the South Korean market is at a 35 per cent premium, at $3,800. The US Bitstamp index is quoting at a $100 premium to the Chinese market.

In India, one exchange has had to issue a cautionary note to investors; another is facing a system slowdown.