Personally, I believe that the price action of Bitcoin has little to do with the narrative of demonetisation in India. As I mentioned in my article, it's going to be difficult to justify capital flight to bitcoin or other commodities when most of your assets are in non legal tender.
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Probably. Now, USD has appreciated and also affect people's spending in Singapore.
http://www.todayonline.com/business/singapore-shoppers-check-spending-us-sites-after-spike-dollar