Bitcoin is approaching new highs for the year because of India’s demonetization

India’s cash crunch is sending one currency soaring. Since prime minister Narendra Modi pulled Rs500 and Rs1000 notes from circulation on Nov. 8 in a bid to fight corruption and terrorism, the weekly volume of bitcoin trading in India has nearly doubled from prior levels. The increased trading has helped push the digital currency’s value…

via Bitcoin is approaching new highs for the year because of India’s demonetization — Quartz