Business Standard

PRICE EFFECT

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Bitcoin crashed from a little below $5,000 a unit to $4,030, a 20% fall, in three days Investors are rushing to buy it and domestic prices are at a 20% premium Due to high demand and low supply of bitcoin, buy and sell prices are higher in India compared to internatio­nal prices Global price crash is because Chinese regulators took sweeping action against domestic initial coin offerings Initial coin offerings are similar to IPOs of shares, with offerings of token for bitcoin and raising funds

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