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Markets of China and India drive price of bitcoin

india_asia-bitcoin-mercados-precioToday the price of bitcoin had an increase significant of its price in very little time. At the time of writing this article the price of the leading cryptocurrency round 740 dollars.

The price of bitcoin is kept hovering between them 711 dollars the day of yesterday, showing a relative stability. However, to early hours of the day of today, bitcoin spent of worth 714 dollars until a maximum of 737 dollars, what represents an increase of the 3.12% in less than a hour. He increase sudden of the price of the currency is based to an increase of the demand in countries of the continent Asian, as China and India.

China determines in large part the price of the bitcoin

China is still affecting considerably the price of bitcoin. The devaluation of the national currency of China has generated on previous occasions that demand from the country bitcoins increases enormously, which at the same time generates bitcoin price increase.
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Bitcoin on China demand is increasing for different reasons this time. The largest of the country, the People’s Daily newspaper published an article talking about the technology blockchain and bitcoin, what seems to have quickly influenced the demand for the cryptocurrency in the country. Also, the day Sunday the University of Beijing conducted a forum on the possible applications of the technology blockchain, what could be increasing the interest of them investors of it technology and them criptomonedas.

INDIA INCREASES ITS DEMAND FOR BITCOIN

India is one of the most important emerging markets worldwide currently due to its volume of marketing. However, the rupee, the India national currency, has been recording significant losses against the dollar by the low expectations of global growth and the fall in prices of raw materials, such as oil, which causes that dynamism in emerging Nations productivity decreases.

On the other hand, recently the Government of the India forbade the use of them tickets of 500 and 1,000 pounds sterling in the territory as a try to of combat the corruption, the evasion of taxes, reduce them notes monetary false and return large amounts of money disappeared to the circulation of the economy. That event has led to the adoption of bitcoin on the country grow rapidly in a short time, resulting in an increase in the price of the cryptocurrency bureaux de change operating in the territory.

Currently the price of a bitcoin in the India round them 61.547,26 rupees (which is equivalent to 908 dollars), which shows that the demand in the territory has a trend bullish.

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