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How India Will Play a Strong Role in Bitcoin Price Rise

Bitcoin-Prices1-300x200
Bitcoin Prices

With Bitcoin prices fluctuating as many expect them to—with large, unexpected shifts upward and downward—investors interested in making money off the cryptocurrency are keeping their ears to the ground in anticipation of any Bitcoin news that may tip them off as to which way the wind is blowing for the online currency.

Of course, that isn’t to say that the volatility has been particularly damaging to the Bitcoin price as coins have topped all-time highs this year, peaking over $3,000 per unit before falling back down to $2,232.78 for the moment.

In fact, the cryptocurrency market as a whole has become something of a sweetheart sector among investors, with offerings like Bitcoin and Ethereum showing returns in 2017 of hundreds and thousands of percentage points, respectively.

But here’s the thing about Bitcoin volatility, and the volatility in the market in general: It never really subsides.

While that volatility is worth the risk for many investors purely based on the strong gains we’ve seen made by the biggest cryptocurrencies in the business, that doesn’t mean you can just discount the unpredictability of cryptocurrencies.

Take the recent collapse of Ethereum, which saw its value peak above $400.00 per unit only to rapidly fall back to below $200.00 a short month later, all the while still cloaked in the appeal of having originally jumped up from $10.00 at the beginning of 2017.

Which is to say it’s a wild ride for investors looking to get into Bitcoin and other cryptocurrencies, but that’s why the news is so important. Being able to anticipate and plan accordingly to shifts within the fluid cryptocurrency market is key to maintaining a winning portfolio.

Just look at the massive wave of panic that worked its way through the ETH world when its whiz-kid creator, 23-year-old Vitalik Buterin, was rumored to have died in a car crash. The panic led to an approximately $4.0-billion loss in value of the cryptocurrency. (Source: “Fake news of a fatal car crash wiped out $4 billion in ethereum’s market value yesterday,” Quartz, June 26, 2017.)

Many investors sold their ETH and lost money as a result, all because they weren’t patient enough to verify the source of the information before jumping ship.

With that in mind, let’s take a look at one of the biggest generators of buzz in the industry: Bitcoin India news.

Bitcoin prices chart

How India Matters for Bitcoin

India is a huge emerging market with a ton of potential in the eyes of investors, both in the ability of its huge and growing middle class to help drive the market, but also how its government will act.

In fact, Bitcoin prices have already seen how strong an effect a huge market like India can have the on the value of the cryptocurrency.

Take the surge that Bitcoin received due to positive outcomes regarding Indian laws on the ability to buy and sell the cryptocurrency. India’s continued push towards regulation of Bitcoin versus harsher means of control helped spur a 30% recovery of the stock after it took a large hit. (Source: “Bitcoin Surges Back Above $2700 As India “Legalizes” Cryptocurrency,” Zero Hedge, June 20, 2017.)

It’s these types of developments that color the Bitcoin India news and can help tip investors off as to what the next best move would be.

And India has a great many developments on the way when it comes to the BTC.

ethereum price chart

Take, for example, last year’s mass demonetization strategy, where the Indian government decided to try and plug the black market and cull nontaxable income via the recall of all 500- and 1,000-rupee notes, which comprise about 86% of the country’s currency notes in circulation. (Source: “Why bitcoin could thrive in a country like India,” Business Insider, June 26, 2017.)

While the aggressive move was praised by some for its boldness, others criticized the process as being too much, too fast, with stories pouring in of bank lineups that went on for blocks as citizens desperately sought to swap out the soon-to-be-useless old notes for new ones.

But an unintended consequence of the demonetization process is that many Indians turned to the cryptocurrency to help store their money while also avoiding exorbitant bank fees. This type of influx of buyers helps boost market value and unit value for owners.

Which is just one example of the importance of Bitcoin India news and how it can shape the value of Bitcoin moving forward.

Bitcoin Split

Speaking of news that may have a drastic impact on Bitcoin prices, two factions within Bitcoin have begun bickering over software updates. While this may seem trivial, the possible effects are anything but.

The lack of consensus could lead to a Bitcoin split, which would send shock waves through the cryptocurrency market and BTC itself.

Which is again another reason that investors in Bitcoin not only need to be prepared for volatility, but also be keen newshounds who are up to date on all that is happening in the realm of BTC.

Source:  http://www.profitconfidential.com/cryptocurrency/bitcoin/india-play-strong-role-bitcoin-rise-bitcoin-prices/