The mind-boggling returns from bitcoin has shored up investment interest of several investor categories. In India too despite the warnings by the government, the market parlance of FOMO which is fear of missing out is also driving some to make bets in this avenue which can be bought in small denominations.
So, here are few more facts
1. The value of bitcoin or BTC in India differs from the international exchanges due to less of supply and more demand. On the Indian exchanges, the digital currency is generally being offered at a premium sum.
2. These new offerings in the digital currency world are exposed to high risk and are being compared to penny stocks with unpredictable movements. So, though currently they have produced huge gains of over 1000% in a year's time, it is highly possible that the bitcoin bubble might burst anytime.
3. Personal digital wallets with a secure key that is known just to you as an investor should be the storage space for the digital currency you hold. Thus resorting to the bitcoin exchange for keepsaking bitcoins for a long term is not a good idea. Also,note if you lose the password or key, you cannot recover your bitcoin possessions.
4. With the digital asset being regulated and recognised in the established economies, Indian too can expect its regulation by either SEBI or RBI soon.
5. As a limited number of 21 million bitcoins can be mined and more and more people are demanding it on a week on week basis, the exponential run upto over 1000$ price is likely to further see a traction.