Indian crypto exchanges go slow on Bitcoin, raise bets on other currencies

Cryptocurrency exchanges have recently been facing issues with their current account held with banks

After hitting nearly $20,000 in December, and Rs 1.5 million on Indian exchanges, prices of Bitcoin, the oldest and largest among cryptocurrencies, have tanked and are currently hovering at around $8,000 (Rs 550,000-600,000 in India). However, the rally in December also saw active trading in other cryptocurrencies such as Etherium and Ripple, which crossed the $100 billion mark in market capitalisation.

India exchanges have now started offering these smaller cryptocurrencies for trading and investments and their share in volumes is also picking up. After the Bitcoin meltdown, hard fork versions of the currency like Bitcoin Cash and Bitcoin Gold, and