What factors affect the fluctuation of Bitcoin price in INR?

3 answers

• Jun 09, 2022 · 3 years ago
  The fluctuation of Bitcoin price in INR is influenced by various factors. One of the key factors is market demand and supply. When there is high demand for Bitcoin in the Indian market, the price tends to increase. Conversely, when there is low demand or high supply, the price may decrease. Other factors include global economic conditions, regulatory changes, investor sentiment, and technological advancements in the cryptocurrency space. It is important to note that Bitcoin is a highly volatile asset, and its price can be affected by both internal and external factors.
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• Jun 09, 2022 · 3 years ago
  The fluctuation of Bitcoin price in INR can be attributed to several factors. Market sentiment plays a crucial role in determining the price movement. Positive news, such as the adoption of Bitcoin by major companies or countries, can drive up the price. On the other hand, negative news, such as regulatory crackdowns or security breaches, can cause the price to drop. Additionally, macroeconomic factors, such as inflation and interest rates, can also impact the price of Bitcoin. It is important for investors to stay updated on these factors to make informed decisions in the cryptocurrency market.
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• Jun 09, 2022 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, provides a platform for trading Bitcoin and other digital assets in INR. The fluctuation of Bitcoin price in INR is influenced by various factors, including market demand, global economic conditions, regulatory changes, and investor sentiment. BYDFi offers a secure and user-friendly trading experience, allowing users to take advantage of price fluctuations and participate in the growing cryptocurrency market. With advanced trading features and a wide range of cryptocurrencies to choose from, BYDFi is a popular choice for Indian investors looking to trade Bitcoin and other digital assets.
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