The bitcoin (BTC) volume of the peer-to-peer exchange LocalBitcoins has been a 30% drop in October. One of the reasons for this is the ” know-your-customer (KYC) process, which is the stock exchange of Finland, has been introduced.
Since the beginning of October, the weekly trading volume in the bitcoin on the stock market have fallen sharply. That’s according to figures from the Coindance, which is to report on the volume on the different exchanges.
Weekly bitcoin volume on LocalBitcoins, may 2013 – October 2019) source: Coindance)
In the week that ended on the 19th of October, the total volume of $38,49 million dollars. This is the lowest volume since september of 2018 is measured in dollars.
The number of bitcoin is that of the owner of each one is decreased. Last week, 4.595, BTC is traded, the lowest since June of 2013 (!). In the third week of the month of september was the volume of bitcoin is still at the 5.344 BTC, with a 13 per cent higher.
There are a number of explanations for the decline. In both Eastern Europe and Africa, has been in the trade since september, 35% and 40% declined. Even in Asia, which is not a large share of the volume on LocalBitcoins, shows a decline of 40%.
LocalBitcoins is a popular option in countries where there is hyperinflation. Bitcoin holds as a hedge against the local currency, which is strong in value declining. The threshold is lower for BTC, to buy, for example, gold is not the best choice.
More than two-hundred countries at the top of the platform, is a kind of market place for bitcoin. In countries such as Russia, Nigeria, Venezuela, and Colombia, the popularity is growing.
It is a marktbreed image, that is, the volume of the drop to be. Using data from the marktvorser Messari shows that the volume of the last few months have also fallen sharply. As a senior analyst, Mati Greenspan eToro last week, out notice.
On the top-10 exchanges, bitcoin has traded less than $200 million. This is from data compiled by @MessariCrypto. During the peak a few months back, this number is easily reached $4 billion. pic.twitter.com/7FsNBZpivA
— Mati Greenspan (@MatiGreenspan) As Of October 15, 2019
Bitcoin price
Also, the price of bitcoin is, it is in the months of september and October, show: the price was $9.757 on the 1st of september and it went down to $8.317 as at september 30 (source: the Messari).
Source: The
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