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USA: Biannual History of Weekly LocalBitcoins Volume

  • Alexander Goborov
    🤷 Opinions

    The latest figures show that the United States is currently trading at around 7 million USD per week on LocalBitcoins

USA: Biannual History of Weekly LocalBitcoins Volume
Cover image via u.today

LocalBitcoins is a Bitcoin trading platform that was established back in 2012. It is headquartered in Helsinki, Finland, and remains one of the most popular virtual places among those who wish to trade Bitcoin on a peer-to-peer basis. We have recently brought you Struggling Economies in South America Forcing LocalBitcoins Boom which examined how Venezuela, Argentina, Colombia, Peru, and Chile heavily contributed to the increased trading volumes on the website. Now, it’s time to look at the United States.

As was previously shown, the United States is the global leader by the number of Bitcoin nodes, the number of people who own cryptocurrencies, as well as the number of crypto billionaires/millionaires. We thought it would be interesting to also see how the US is doing on LocalBitcoins, so here it is, the history of weekly LocalBitcoins volume, organized biannually (i.e. six month averages or two quarters combined):

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2013: A modest start with around 100K USD per week, followed by a sharp climb in the second half of that year to over 1 million USD per week.

2014: Around 2 million USD per week in the first six months, close to 3.5 million USD per week in the second half of the year.

2015: A continued climb, around 4 million USD per week in the first half, followed by a further increase and the figure growing to almost 5.5 million USD per week in the second.

2016: Both biannual averages show weekly volumes between roughly 6.5 and 7 million USD.

2017: A reach for the figure of 8 million USD per week in the first two quarters and a further leap to 9.5 million USD per week in the second half of the year, during the last Bitcoin bubble.

2018: An expected drop to around 8.5 million USD per week in the first half (note: unlike Latin America, the US is not a struggling economy), followed by a further decrease to the current figure of around 7 million USD per week in the second half of this year.

We hope you found this list useful. Stay tuned for more to come and be sure to also check out these:

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About the author

Alexander Goborov (MSc) is U.Today’s chief editor of analytics. Before joining our publication, he worked in research and education, and, briefly, as an academic ghostwriter.

His articles range from scientific to creative, among them those that came out in Journal of Language Learning, St Petersburg Times, and Kommersant.

At U.Today, he and his team specialize in the economic analysis of the Blockchain market, infographics, as well as interviews.

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Bitcoin Price Dips Below $8,000 While Crypto Market Is Expecting Another Volatile Move

  • Alex Dovbnya
    📰 News

    Bitcoin is trading below the pivotal $8,000 level, and that might mean that the storm is coming

Bitcoin Price Dips Below $8,000 While Crypto Market Is Expecting Another Volatile Move
Cover image via www.123rf.com

Bitcoin (BTC), the top cryptocurrency by market cap, is testing the $7,800-$7,900 support for the fifth time since plunging 20 percent on Sept. 24. 

This time around, bulls might be way too exhausted to defend the above-mentioned price level, which could potentially result in another major downward move that bears have been waiting for. 

At the time of writing, Bitcoin is trading at $7,946 after a sizeable 3.22 percent drop, CoinStats data shows. Altcoin holders are also feeling the burn -- Ethereum (ETH), the top coin by market capitalization, is currently down by almost 5 percent while Bitcoin Cash (BCH) has plunged by 6 percent.     

top altcoins
image by coinstats.app

Despite the gloomy technical picture, cryptocurrency trader 'Galaxy' says that it's too early to call the battle. 

Meanwhile, Josh Rager hopes to accumulate more at the $3,000 level in case of another major price drop. 

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Bitcoin has been going back and forth within the same price range for nearly a month with a few notable fakeouts. It doesn't take a trading guru to predict that the top coin might experience another volatile move in a matter of days given that the Bollinger Bands, a key technical indicator for measuring volatility has been extremely tight as of recently. 

Trader "The Crypto Dog" says that he's surprised that anyone is still able to buy BTC at $9,000. Meanwhile, famous gold proponent Peter Schiff insists that the orange coin is way too expensive, and its price might drop to as low as $200.

What will be Bitcoin's next move? Share your take in the comments!   

Subscribe to U.Today on Facebook, and get involved in all top daily cryptocurrency news, stories and price predictions!

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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