Bitcoin price hit 1000 USD in India due to cash ban
India has banned big notes lately Rs 500 & Rs 1000 which became illegal within 1 night.
As expected price of BTC has raised there signifinially.
Currently you can sell 1 BTC for 1000 USD just like in 2013.
~68k Rupees equals 1000 USD.
India has low volumes of BTC but this situation may change since its one of the biggest countries in the world.
As @dollarvigilante says Spain may soon be banning cash and Sweden had such plans since some time.
Seems we should be bullish on Bitcoin and Cryptocurrencies like STEEM
Now this would be a great start of a bull run. looking forward to seeing how this all unfolds. thanks for the info
It's been over $1000CAD here in Canada earlier this week.. 0_0
haha nice but the 1k USD is the psycho barrier :)
good times ahead of us anyways!
Nice, but this doesn't reflect the real value of Bitcoin. It's just a local phenomena due to cash shortage.
In fact this actually reflects the demand for USD, since they just want to get some BTC in order to exchange their Rupee to USD, at whatever price possible.
indeed its all about USD in the end. but with world trends of cutting cash - BTC is the right answer!
Thanks for sharing. Upvoted and shared on Twitter✔ for my followers to read. Following and looking forward to reading more of your blogs. Cheers. Stephen
https://twitter.com/StephenPKendal/status/802029650709008384
Disclaimer: I am just a bot trying to be helpful.
Well it's definately forcing the hand of the people to use different forms of currency and this may be the card that tips the deck into going all in for alot of people to start using cryptocurrencies, not just in India but worldwide.
Great post, thinking about investing all my SBD and some steem into BTC because of this.
current scenario is positive for crypto currencies in India.