1 Bitcoin Price in 2014 in Indian Rupees
Introduction
Bitcoin, the world's first decentralized digital currency, has been making waves in the financial world since its inception in 2009. As the first cryptocurrency, Bitcoin has been subject to extreme price volatility, making it a topic of interest for investors and enthusiasts alike. In this article, we will take a look at the price of 1 Bitcoin in 2014 in Indian Rupees.
Bitcoin Price in 2014
In 2014, the Bitcoin market was still in its early stages, and the price of Bitcoin was relatively low compared to today's standards. According to historical data, the price of 1 Bitcoin in January 2014 was around $770 USD.
Conversion to Indian Rupees
To convert the price of 1 Bitcoin to Indian Rupees, we need to consider the exchange rate of USD to INR in 2014. In January 2014, the exchange rate was around 1 USD = 61.8 INR.
Using this exchange rate, we can calculate the price of 1 Bitcoin in Indian Rupees as follows:
1 BTC = $770 USD 1 USD = 61.8 INR 1 BTC = $770 USD x 61.8 INR/USD = ₹47,516 INR
Price Fluctuations in 2014
Throughout 2014, the price of Bitcoin experienced significant fluctuations. In February 2014, the price of Bitcoin dropped to around $600 USD due to the collapse of the Mt. Gox exchange. However, by June 2014, the price had recovered to around $650 USD.
By the end of 2014, the price of Bitcoin had dropped to around $320 USD, which translates to approximately ₹19,776 INR.
Conclusion
In conclusion, the price of 1 Bitcoin in 2014 in Indian Rupees was around ₹47,516 INR in January and dropped to around ₹19,776 INR by the end of the year. The extreme price fluctuations in 2014 demonstrate the volatile nature of the Bitcoin market, making it essential for investors to stay informed and up-to-date with market trends.
