Bitcoin goes in a tailspin, dives 50% in India in just 13 days The move confirmed earlier reports of Chinese officials mulling a closure of domestic exchanges for virtual currency trading, which sent the price of Bitcoin tumbling. The Bitcoin has gone on a tailspin in India, falling much faster that elsewhere in the globe, after a China crackdown on crypto-currencies and public remark by an Reserve Bank of India (RBI) official, trashing the digital currency. According to the data available with Zebpay, the value of the currency in India has declined from Rs 3,40,116 per unit on September 2 to hit a low of Rs 2,29,417 on September 15, indicating a fall of 48 per cent in less than two weeks. Zebpay is an app-enabled Bitcoin wallet provider headquartered in Singapore with IT offices in Mumbai, Maharashtra and Ahmedabad. Zebpay is involved in sale and purchase of bitcoins since 2011. It started India’s first bitcoin exchange in 2012. Till ...