Why bitcoin price so high in india
The price on Zebpay as on The sell price is also Rs 16, higher than the highest price on an exchange above. And it is a whopping Rs 36, higher than the lowest price. So we have two options. We keep increasing the sell price till we have sellers. And we keep the buy prices very high to discourage buyers. We have to do this as explained above to manage buy and sell demand. When prices are relatively stable, we can manage our stocks better and we reduce the spread. Zebpay goal is to provide our users with bitcoins at prices which are close to international prices.
And you can help us do that by selling bitcoins and not buying bitcoins when Indian prices are higher and putting a downward pressure on the price: I am a robot. I just upvoted you! First we must understand what drives bitcoin price and, in particular, this boom. The common understanding for current growth leads us back to institutional investors preparing for the forthcoming BTC futures exchanges.
The primary theory about the astonishing rally being put forward by investors on social media is that bitcoin will soon benefit from big institutional money injections via the introduction of the first BTC futures products. This ability makes bitcoin far more palatable to big investors who are currently flooding the market to make profits if and when the bitcoin price falls.
This group of enthusiasts bought and held bitcoin and will not sell it at any current price. More and more bitcoin fans are entering into this group and they are driving up demand increases. We see a common thread between these points: All cryptocurrency movements are based on domain specific media and conversations between traders. Bitcoin traders, it can be said, are now akin to the jolly colonists selling stocks under buttonwood tree. That is all coming and at that point the market will harden itself against panics and booms.
Until then we enjoy rises and dips and volatility that puts most bitcoin dilettantes off their lunch. Ultimately new and old users are testing the limits of a system that, for a decade, has been untested.