Bitcoin [BTC] P2P Volumes Records All-Time Highs in Six Countries: Analyst

advertisement

Cryptimi


Bitcoin [BTC] peer-to-peer trading volumes record new highs in India, South Africa, Ghana, Kenya, Argentina and Chile. The data is compiled from Localbitcoin and Paxful at UsefulTulips. It was brought to light by Kevin Rooke, an independent researcher.

Advertisement

1xbit


Only last week, Rooke, notified about the highs in four of the above-listed countries with the addition of Nigeria and the Philippines. His thoughts on it?

The world wants Bitcoin

bitcoin p2p all time highs
Bitcoin P2P All-Time Highs

The inclusion of India and South Africa, which are developing and progressive countries as opposed to the others in the list with highly volatile currencies is a positive indicator.

Global P2P Volumes

The chart for global historical volumes reveals that current levels are breaching the highs during the peak of the 2019 bull markets. This has been led by investors in North America, Latin America, Sub-Saharan Africa and the Asia Pacific.

Originally, the rise in P2P volumes across Latin America and Sub-Saharan Africa was primarily due to an escape to the US dollar using crypto as an intermediary. However, the continuous rise across the globe is beginning to confirm the rise in retail interest.

Advertisement

TrustPilot

p2p channel volumes
P2P Channels Historic Volume Chart (Source)

The trading volumes in North America is currently at all-time high levels above $30 million/weekly as well. Latin America, is reporting close to half of N. America’s volume at $13 million. While things were relatively silent across China and Europe, Poland and Sweden recorded considerable spikes as well.

Moreover, with the exception of Latin America and India to some extent, the majority of the surge is being reported on Paxful. The volume on spot exchanges like Coinbase and LMAX Digital is also rising since the break-out above $11,000 last week.

bitcoin spot volumes
Bitcoin Spot Volumesat Coinbase and LMAX Digital

Institutions or Retail, Which one do you think is driving will drive the next Bitcoin bull market? Please share your views with us. 

Summary

Bitcoin [BTC] P2P Volumes Records All-Time Highs in Six Countries: Analyst

Article Name

Bitcoin [BTC] P2P Volumes Records All-Time Highs in Six Countries: Analyst

Description

Bitcoin [BTC] peer-to-peer trading volumes record new highs in India, South Africa, Ghana, Kenya, Argentina and Chile. The data is compiled from Localbitcoin and Paxful at UsefulTulips. It was brought to light by Kevin Rooke, an independent researcher. 

Author

Nivesh Rustgi

Publisher Name

CoinGape

Publisher Logo

To get the daily price analysis, Follow us on TradingView

Coingape is committed to following the highest standards of journalism, and therefore, it abides by a strict editorial policy. While CoinGape takes all the measures to ensure that the facts presented in its news articles are accurate.

Disclaimer
The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.



Share on Facebook



Share on Twitter



Share on Linkedin



Share on Telegram

Nivesh Rustgi , 2020-08-04 17:35:29 ,

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *