Since our last price sampling, Bitcoin has risen to $ 7. Now Bitcoin prices hovering around $ 618, Bitcoin enthusiasts might be therefore greatly excited. But with Bitcoin inIndia is increasing dramatically in economic activity, more good news may be coming.
India: The next Bitcoin a huge market resources?
Recently, the fund data by the Confederation of Indian Bitcoin UnoCoin released for Asian countries to become a superstar in the field of digital currency. China is likely to remain Bitcoin success decisive force in Asia, but India’s position really is gradually increasing, and now there are signs that the status of India will reach new heights.
According Reviewed analysts point of view, Diwali festival (similar celebration) has a positive effect on the use of Bitcoin digital currency. Similar holidays or black five Indian Diwali produce large volumes of transactions, it may set a new record for the amount of the transfer.
In particular, trading volume is expected to increase between October 20th and 25th. It is clear that in the meantime the majority of shopping will be done online. At present, only a limited platform to accept Bitcoin or Bitcoin debit cards, but like ZebPay such companies are more inclined to let the majority of customers in this area can use electronic money payment.
The analyst also shows that the Indian remittance transaction will be large, there may be far more than now Bitcoin transactions.
“Remittance industry is another area Bitcoin soon flourish in India is well known, the Indian remittance market ranks first in the world to receive an annual payment of about $ 70 billion. Indian diaspora around the world, to the domestic family and relatives to send money world famous habit is also a significant increase in the total amount of remittances during the festival always. some people have used cross-border transfer bitcoins, bitcoin Indian companies are gradually won their share in the market. ”
As we have seen, the Asian activities also have a huge impact on the price of Bitcoin.As a big country in the world’s second largest population, India Bitcoin usage increases, this economic activity are likely to form a positive impact on Bitcoin, coupled with China’s growing power, Bitcoin may really are becoming an international currency.