After a massive decline in prices since the beginning of the year, cryptocurrencies have shown substantial rise once again during April with reports suggesting that Bitcoin rose 36 per cent during the month and coming close to $10,000. It had slipped to $6500 levels at the beginning of the month.
Other big names in the crypto market rose at a faster pace in April. While Ethereum gained 56%, Ripple moved higher by 68%.
Are you as Indian investor wanting to join the party but sitting on the sidelines watching helplessly ever since the Reserve Bank of India in its credit policy earlier this month clamped down on crypto exchanges by directing its regulated entities not to deal with virtual currency exchanges?
Well, crypto market players say that there still is a possibility of taking positions in the cryptocurrencies in India. This has to be done without making or receiving payments in actual currency.
