From glorious highs to rock bottom, Indians hooked to cryptocurrencies have seen it all in the last 2 years.
Price of Bitcoins, the world’s best known virtual currency, rose from $900 at the start of 2017 to nearly $20,000 by December 2017, growing over 20 times in 1 year. This attracted many Indian Investors to invest in these digital currencies. However early 2018 saw a sharp decline in prices, with Bitcoins falling to around $7,000 in early February.
Bitcoins are in the news again, as a physical kiosk (ATM) for Bitcoins, was set up last week by crypto-trading startup Unocoin. Just a week later, on October 24, 2018, the Cyber Crime Police arrested the company’s co-founder Harish BV, and registered a case against the company. Harish BV was arrested for illegally setting up the kiosk without required approvals.
