"Bitcoins are here to stay and will keep on steadily gaining value in the coming years,” said Madhur Todi, MD, Mera Money Advisors, (a bitcoin investor and a professional wealth manager). I have never thought of booking profits any time soon.”“This is a speculative asset class, and patience is the name of the game," he said.In India bitcoin prices have touched as high as Rs 8,60,000 per bitcoin while globally it surged to $11,000, a record high. “People who were earlier averse to the bitcoin market are now showing interest amid global acceptance about the market. There are many risks attached to it," said Sahil Shah, a third-year BBA student at Nirma University in Ahmedabad and a bitcoin investor. “Looking at global demand and development, bitcoin prices could conveniently reach $20000 in 6 months.”There are a lot of international factors that influence the price movements of bitcoins and cryptocurrencies.

Source: Economic Times November 30, 2017 14:26 UTC