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Kate

India a rain for bitcoin to rise or seems like.

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So bitcoin has risen now as you all know from 3000 usd to over 10000 usd which was quite a big jump in a good amount of time and is great that happened everyone was happy when it came back up again. And i wad thinking why and how did bitcoin's price rise so suddenly ? Like what could be a factor or reason that had lead to the rise in the price of bitcoin that too a very very huge rise.

And i found this by searching on Google and it says that India was one of the reasons that bitcoin rose and i was like what the hell ? How can a country who is against bitcoin be a reason for bitcoin to rise ?

What do you guys think ? Is it true that bitcoin price surge was caused by India or nah ?

Article : https://www.financialexpress.com/market/india-is-the-reason-for-bitcoins-price-surge-heres-why/1616145/lite/

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I'm sure we can all speculate as to the reason behind the jump in price. I think, personally, that whales are pushing the price up and planning a massive sell off. I guess it is a combination of factors that cause a rise in price.

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Where basically it was due to Facebook's Libra no matter where the investment was made anyway...

Quote

While the cause for the sudden increase in price is being looked at by the cryptocurrency analysts (with Facebook’s Libra launch and Bitcoin halvening event next year as potential reasons)

Still just because India is considered a Bitcoin or crypto bannable place doesn't mean users can't invest or buy / sell / trade ;)

You know there are VPNs / proxies and everything you find on the internet. So yeah they will be able to do such things and im just grateful :D

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A country can be against bitcoins, but its inhabitants are for bitcoin. It seems to me that all Bitcoin races are the actions of large traders that suit them for personal earnings.

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16 hours ago, DreamStage said:

You know there are VPNs / proxies and everything you find on the internet. So yeah they will be able to do such things and im just grateful :D

Yeah true there are sites which they have not banned yet where you can buy sell and trade crypto one is localbitcoins which is very well known and other couple exchanges out there too.

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The government of a country has no power to control Bitcoin, because its traded by individual, whales holder of bitcoin would sell it off when they attained the right price to buy again at cheap price.

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If in my opinion there is no effect with the Indian state on the price of bitcoin at this time, especially as India is not the biggest user of bitcoin at the moment, so the news is not related to the Indian state

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