Bitcoin hits highest level in 3 years following Indian demonetisation
Q. Which cryptocurrency has hit its highest level in 3 years following India’s demonetisation?- Published on 12 Dec 16a. Bitcoin
b. Rupay
c. USSD
d. UPI
ANSWER: Bitcoin
Web-based digital currency Bitcoin has hit its highest level in almost 3 years on 9
th Dec 2016 extending gains since India sparked a cash shortage by removing high denomination bank notes from circulation in Nov 2016.
Bitcoin was trading at USD 774 in the NY based titbit exchange up 1 percent on that day and the highest since Feb 2014, having climbed 9 percent in the past month.
The Nov 8 demonetisation of INR 500 and 1000 rupee notes worth USD 256 billion was a move aimed to fight corruption, black money, forgery and terrorism.
What is Bitcoin?- Cash alternative
- Cryptocurrency’s value is volatile.
- It rose to USD 1,100 in 2013 and fell to USSD 150 by 2015.
- It has currently stabilised staying at USD 500 for the past six months.
- It has climbed 80% in 2016.
- It climbed 35 percent in 2015.
- It can be used for moving money across the globe quickly and anonymously.
