Bitcoin trade volume blooms as price makes recovery after COVID-19 crash

Bitcoin trade volume blooms as price makes recovery after COVID crash

Bitcoin trade volume is seeing new heights in numerous countries as BTC price recovers to pre COVID-19 crash levels. As Bitcoin halving nears, speculation and enthusiasts have been getting more and more interested in the asset.

Bitcoin ended the week by closing near 7,700 dollars showing a nearly full recovery from its COVID-19 crash. Furthermore, the demand for BTC is reaching new heights especially in some countries including Argentina, Chile, and Venezuela, where the Bitcoin trade volume is record high on LocalBitcoins.

Bitcoin trade volume soaring across LocalBitcoins

According to statistics shown by crypto data tracker Coin.dance, Argentina saw a record-high Bitcoin trade volume on LocalBitcoins, a peer-to-peer (P2P) crypto exchange for the week ending April 18, 2020.

The total volume of bitcoin traded in the week was at 46.9 million Argentine pesos. A sum that shows a 24.4 percent increase from the previous week in which 37.7 million pesos’ worth of Bitcoin was traded. 

Chile also saw high levels of Bitcoin trade volume on LocalBitcoins earlier in April. the highest trade volume for a week was 330 million Chilean pesos on the week ending April 4, 2020. The trade volume then decreased and fell to 233 million Chilean pesos by April 18, 2020.

the Bitcoin trade volume on LocalBitcoins in Venezuela also rose by 28 percent reaching 538 billion bolivars for the week ending April 18th. This sum broke the record for the highest trade volume and sees a 28 percent increase from last week’s 420.8 billion bolivars.

Meanwhile many other nations also saw a surge in their bitcoin trading volumes across the last week including Colombia that saw an increase from 8.3 billion Colombian pesos to 9.9 billion.

Mexico saw an increase from 3.8 million Mexican pesos to 6.1 million while Peru saw a rise from 1.8 million Peruvian sol to 2.1 million.

Ahmad Asghar

Ahmad Asghar

A first generation gamer at heart and tech buff by nature, have been involved in the tech sector for better part of a decade. With that insight and knowledge, he now covers blockchain, cryptocurrency and everything fintech so others can make sense of the industry.

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