Business Mantra News
The first global decentralized currency is talk of the town nowadays. It is uncontrollable and anyone can take benefit from it. All the transactions are recorded in the ledger called Blockchain. Most commonly traded crypto-currency all over the world is Bitcoin.
Some chaotic situations have been faced by Bitcoin investors or traders when a major Chinese Bitcoin Exchange, Shanghai-based BTC China, has announced that it would stop trading in the crypto-currency from September 30 and other smaller bitcoin exchanges announced the same in China.
Because of the news of shuttering down of the Bitcoin Exchange, BTC China, the swap value has been dropped down to Rs. 2.2 lakh per bitcoin whereas earlier it was 3.44 lakh more than two weeks ago. About Rs. 1,200 to 1,500 crore worth bitcoins are being traded in India every year.
This recent drop in price of the bitcoins is being seen as opportunities for many to buy at these dropped prices.