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Key facts:
In data Yadio, the dollar surpassed the 150,000 bolivars this Tuesday, April 21.In Venezuela are traded more than USD 3 million weekly on LocalBitcoins.A new peak in the exchange rate between the bolivar and the dollar, drove the price of bitcoin to its highest price in the local currency of venezuela. Currently, 1 BTC is equivalent to more than SEE 1,000 million, on site data monitoring Yadio.io.According to the records of Yadio, the price of BTC in Venezuela went from a SEE 970 million on Monday, April 20, to exceed 1,000 million this Tuesday, after which the exchange rate with the dollar would surpass the LOOK of 150,000.If we match with LocalBitcoins, the main site of exchange of bitcoins used by the venezuelans, we see offers of purchase and sale that exceed even the 1,050 million bolivars for each BTC.The data on the type of change that are available in Yadio show a significant devaluation of the bolivar against the us dollar, particularly during the last 30 days. In just over a month, the dollar went from a SEE 77.000 150,000, almost double.In that period, the price of bitcoin against the dollar has fluctuated in a range between us $ 5800 and USD 7.300. Meanwhile, the value in bolivars started that period in just you SEE 480 million, and has doubled to date.
Trade bitcoins in Venezuela
Beyond the constant devaluations of the exchange rate, the trade of BTC through LocalBitcoins maintains a certain stability in Venezuela. Although the levels have gone down according to those seen last year, this year all the weeks have traded more than USD 3.3 million on that platform.Even, the weekly average so far this year is above USD 4.3 million, according to the records maintained by the portal UsefulTulips. In fact, according to the same site, Venezuela remains among the countries with the highest volume of trade in LocalBitcoins, something that has been maintained in the time.In the midst of the economic situation in venezuela, local people have found in bitcoin a refuge of value for their income and savings. The volume is so high, that even the regulator venezuelan has shown concern for the funds that move in LocalBitcoins.The impact of bitcoin on the venezuelan economy has reached such a point that, during the quarantine for the coronavirus, the criptomoneda has become the reference of the market to set the rate of trading of the dollar against the bolivar, as reported Breaking News at the end of march.