Bitcoin Prices In India Is Higher

[peter0425]

Is the trend still holds true? I see the thread was opened last March when we haven't heard any FUD yet regarding India's government stand on bitcoin and crypto, but lately we have seen RBI issuing statement against doing any financial transactions involving crypto. That's why I'm asking because members are still commenting as such that the trend is still holding.

If this is still true then I can speculate that because of the "ban" of RBI the Indian crypto community still wanted to trade maybe OTC or localbitcoins, but I don't know if this has a drastic effect on the price of bitcoin in Indian market though, But we all know that India is one of the most populous nation so I wouldn't be surprise that even a 1% of them going to bitcoin will push the price on their local market.

[pooya87]

Is the trend still holds true? I see the thread was opened last March when we haven't heard any FUD yet regarding India's government stand on bitcoin and crypto, but lately we have seen RBI issuing statement against doing any financial transactions involving crypto. That's why I'm asking because members are still commenting as such that the trend is still holding.

If this is still true then I can speculate that because of the "ban" of RBI the Indian crypto community still wanted to trade maybe OTC or localbitcoins, but I don't know if this has a drastic effect on the price of bitcoin in Indian market though, But we all know that India is one of the most populous nation so I wouldn't be surprise that even a 1% of them going to bitcoin will push the price on their local market.

i haven't checked their prices recently so i am not sure what is going on over there these days but the reason why the bitcoin price was higher in India was because they are practically cut off from the rest of the world so there is no in-flow of bitcoin so the supply of bitcoin in India has been scarce while the demand for it kept on rising hence the price kept on rising a lot bigger than the rest of the world.
this is actually a pretty good example for supply and demand.

[sornaakter]

Lol op. You think that the Indian government can ban bitcoin? No government in this world can ever truly ban bitcoin(China tried and failed recently). One more thing is that the Indian government only advised people to be careful with crypto and never officially banned bitcoin(Which is not possible anyway).:cool:

[paul gatt]

In India, bitcoin is considered legal. The demand for bitcoin in India is much higher than in the rest of the world. Bitcoins in India have performed well. The major Indian Bitcoins, including Zebpay, Coinsecure and Unocoin, have operated in the form of self-regulatory trading. These floors are trading with strict KYC regulations with on-site anti-money laundering systems despite the lack of industry regulations and pre-market math.

[filharvey]

Experts claim that demand outweighs supply in India, pushing the Bitcoin price in the country up to 20% higher than international prices.

Some Indian e-commerce platforms have started recognising the digital currency as well. FlipKart and Amazon are already giving customers the option to convert Bitcoin into regular currency and purchase goods with it.

So there is huge demand and this can cause some problems in future so caution is needed when investing as any moment govt or RBI may ban it.

Its true that there is huge demand for bitcoins india as its quite natural for a highly populated country like india to have such a demand.Until now india government and RBI have not clearly announced that bitcoin is illegal.But they have an idea of launching their own digital currency Lakshmi.At such instance,bitcoin may get announced as illegal in india which would decrease its demand hugely.

[kryptqnick]

Is the trend still holds true? I see the thread was opened last March when we haven't heard any FUD yet regarding India's government stand on bitcoin and crypto, but lately we have seen RBI issuing statement against doing any financial transactions involving crypto.

There's been also some news about India officially creating its own blockchain project for noticing fake pharmaceutical products. As for the prices and the demand - that can be easily checked. Bitcoin's current price is usd is $7930. Zebpay trades bitcoin to Indian rupee on the price of ₹ 494,500.  This gives us the information, that in usd the current btc price for India is $7565, which is actually 5% down from the general price situation. I guess the high demand is not there anymore, even though people keep writing the opposite in this thread.

[Lieldoryn]

Is the trend still holds true? I see the thread was opened last March when we haven't heard any FUD yet regarding India's government stand on bitcoin and crypto, but lately we have seen RBI issuing statement against doing any financial transactions involving crypto.

There's been also some news about India officially creating its own blockchain project for noticing fake pharmaceutical products. As for the prices and the demand - that can be easily checked. Bitcoin's current price is usd is $7930. Zebpay trades bitcoin to Indian rupee on the price of ₹ 494,500.  This gives us the information, that in usd the current btc price for India is $7565, which is actually 5% down from the general price situation. I guess the high demand is not there anymore, even though people keep writing the opposite in this thread.

I appreciate that approach. You're good. Specific numbers always destroy the fud. On my exchange now the purchase price of bitcoins 7930 dollars. That's more than your numbers. Perhaps this suggests that the demand for Indian exchanges is decreasing. Maybe the reason for the spread of such fud is the desire to increase demand and raise prices?

[carlisle1]

Experts claim that demand outweighs supply in India, pushing the Bitcoin price in the country up to 20% higher than international prices.

Some Indian e-commerce platforms have started recognising the digital currency as well. FlipKart and Amazon are already giving customers the option to convert Bitcoin into regular currency and purchase goods with it.

So there is huge demand and this can cause some problems in future so caution is needed when investing as any moment govt or RBI may ban it.

Is this really possible,thay indias bitcoin price is higher by 20% than our countries?but as far as i know lots of of issues going on in india,and there a banning news that soon to be implemented so how come that this high price might happen?and even if the price is high its no use when time of banning comes.

[Binugon]

The Chinese government is still devaluing their Yuan currency, which causes people to move their wealth out of the Yuan into bitcoins. This is done to protect the value of the wealth they collect. Bitcoin is also famously used by Chinese people to flee their funds abroad.

[H0USE]

The prices were higher in india than internarional market due to demand being higher in asian countries till the date RBI announce all the banks coming under its regulation not to deal in crypto entities and after that prices fell down drastically but now they are again rising after the situation is coming under control.Hope for its betterment.

[almersyn]

I think it's good news for bitcoin investors, Which is the bitcoin price on Indian exchanges, and indicates that people are now using bitcoin to move money and the bitcoin price on Indian exchanges includes fee. How long have they been using bitcoin? No-one knows, but it is an interesting development.

[priyanka624]

Where there is a demand is high of any particular thing and the new user of that thing is increasing day by day then it is natural that the price of that thing will high from the average price than the other place. that's why this is also happening in the india and price of bitcoin is very high for buying and selling against the fiat money exchange.