While the Indian government continues to advance initiatives to study the regulatory environment for Blockchain and cryptocurrencies, the awareness and use of Bitcoin and cryptocurrency continues to grow within the Asian country.
Goldman Sachs has predicted that Bitcoin is headed for $3,700, and it seems we're well on the way there.
Bear time seems to be getting over. All appears to be falling back in place just in line with the momentum that saw Bitcoin’s price touching the $2,000 mark earlier this year.
Kumar Guarav: “We will see Bitcoin price well above $10,000 sooner or later in any case.”
Bitcoin market cap has risen to over $35 bln and the massive investment has only started.
Chinese Bitcoin exchanges have begun to demand users to provide detailed information on the origin of their funds and how they intend to use the funds they acquire.
Some platforms considered reliable happen to recognize suspicious entities as cryptocurrencies.
Despite volatility and fluctuation, the overall trend of Bitcoin price has tread upward due to improved capitalization, robust monetary policy and growth in awareness.
The trading volume coming out of China is suggested to correlate with the price of Bitcoin. The influence of Chinese Yuan has shown itself especially in the second half of the year 2016.
Bitcoin is likely to break a new record soon if the Indian angle pans out well. But will it?
India’s payment landscape has mirrored four major global shifts that demonstrate the country’s huge potential for exponential growth in the next four years.
There are indications that China, the leading Bitcoin market, will be faced with stiff competition from India’s burgeoning market.
Another disruptive technology powered by the Blockchain is set to completely eliminate the outrageously high cost of remittances to Africa.
In 2016, Blockchain technology is explored by governments more and more. But bureaucracy remains a key factor in how soon this disruptive technology will become adopted.
A new report from the World Economic Forum predicts that the Blockchain will occupy a central place in the global financial system.