Bitcoin Price Surpasses US$1,000 On India’s Zebpay Exchange
What was first believed to be a temporary uptrend has turned into a phenomenon. Indian residents are flocking to Bitcoin as a way to hedge against future volatility. Moreover, with the recent cash debacle in the country, new assets have to be found sooner rather than later. Bitcoin, with its global appeal, seems to be attracting a lot of attention.
Earlier this week, smaller Bitcoin exchanges had noted trades far exceeding the global price per BTC. Paying a premium to buy bitcoin is not unusual, although price differences were as high as US$500 per Bitcoin. Considering the current global market average is US$735 per BTC, its nearly double the price other traders would spend at the time of writing.
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