Venezuela has shown a massive increase in Bitcoin adoption over the last year when compared to the data from the past. The data also shows that the trading volume for BTC has also increased drastically.
Venezuela, Argentina, Columbia, and Peru are some countries that are affected a lot by inflation and government policies that have caused widespread panic and rejection of the government currencies. People of these countries tried to find respite in US dollar but since its inception, Bitcoin has gained more attraction and affection by developing countries.
As per the data obtained from Coin Dance, the weekly local Bitcoin volume for Columbia has increased more than twice in the past four months.
In a comparison of the weekly volume of January 2017 to that of January 2019, it can be seen that the weekly Bitcoin volume has increased from a mere 135 BTC to 364 BTC. However, the BTC trade weekly trade volume reached a maximum of 759 BTC in the last week of 2018.
Read Full Story : AMBCrypto