RATE Group | Not Just Venezuela, Bitcoin is Seeing Record Volumes Across South America
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Not Just Venezuela, Bitcoin is Seeing Record Volumes Across South America

13 Sep Not Just Venezuela, Bitcoin is Seeing Record Volumes Across South America

Posted at 17:57h in Bitcoin News by

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Bitcoin’s mixed price fortunes could not matter less to some South American markets as trade volumes in several countries see major spikes.

Argentina, Peru, Colombia…

In spite of BTC/USD trending down towards $6000 yet again this month, economic uncertainty in Venezuela and Argentina continue to see huge volumes of fiat change hands for Bitcoin 00.

Data from Coin Dance tracking volume on P2P platform Localbitcoins confirms the seven days ending on September 9th were the biggest ever in Argentina, with users exchanging almost 6.9 million pesos.

Venezuela produced its second-highest week at almost 295 million bolivars. Coin Dance noted that exact values are difficult to judge due to the country’s currency switchover from August 20th, as well as rampant hyperinflation.

Bitcoin’s mixed price fortunes could not matter less to some South American markets as trade volumes in several countries see major spikes.

Both Argentina and Venezuela have long hit the headlines over financial difficulties faced by citizens. As 2018 goes on, the knock-on effects in neighboring economies are becoming more palpable.

In Peru, where…

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