Bitcoin up 60% in One Month: Here’s Why

Bitcoin prices are on the rise. Over the last year, they were up by 330 percent and are currently traded at $ 1810. The price has shot up by 60 percent over the last month and that has attracted many Indians to this crypto-currency. Bitcoin price on Zebpay, an app-based bitcoin exchange mainly for Indian investors, works out to Rs 1.32 lakh.

The overall price of the currency has gone up on news that many countries are now making bitcoins legal. Japan has started to accept bitcoin as legal currency with consumer retailer Bic Camera leading the pack. This has resulted in the price of crypto-currency shooting up by 80 percent over the last one month, making Japan the largest bitcoin market in the world. Investors expect a lot more countries to make legal use of bitcoins. However, investors still need to be careful and hold only around 5 percent of bitcoins in their overall portfolio.