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market | IST

Cryptocurrencies surge in 2020; here’s what expert has to say

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Cryptocurrencies prices have surged up quite strongly this year. This year has seen all-time highs come in for bitcoin, nearly 200 percent of gains for bitcoin.

Cryptocurrencies prices have surged up quite strongly this year. This year has seen all-time highs come in for bitcoin, nearly 200 percent of gains for bitcoin.
This has been on the back of cheap liquidity, weakness in US dollars and a very strong institutional buying in cryptocurrencies has led a lot of support.
To discuss how much Indian investors have gained, what are the exchanges in India doing, and the road forward, Kumar Gaurav, Founder of Cashaa Global spoke to CNBC-TV18.
Gaurav said, “If we talk about the Indian market since Supreme Court has removed the ban which was imposed by RBI we had seen roughly 8 percent growth in the Indian market. This growth has been continuously been carried since March. As we are seeing that their numbers are increasing, liquidity is increasing the whole Indian ecosystem is consolidating and they are trying for the next growth.”
He further added, “Currently India has 4-5 reputable exchanges and if we see their numbers they are growing very organically and across all the platform. Definitely, these numbers have to match with the international counterparts because if we see the gap India has, there is a lot of room to grow.”
To know more, watch this video.