Given bitcoin’s volatile price swings, one would expect there to be more interest in this currency. If the recent LocalBitcoins volume is an official indicator, that seems to be anything but the case.
Many “experts’ often point out how a large amount of bitcoin trading doesn’t happen on centralized exchanges.
LocalBitcoins Falls out of Favor Globally
That is certainly true, as numerous alternative solutions exist.
Peer-to-peer trading platforms, such as Paxful and LocalBitcoins, are often quite popular.
In regions where financial hardship has become normal, such platforms note severe trading volumes.
However, it would appear that this trend is slowly coming to an end, at least temporarily.
Statistics provided by UsefulTulips paint an interesting, albeit somewhat unusual picture.
It quickly becomes apparent that the overall global LocalBitcoins volume continues to decline.
That trend is not new, as it has been taking place since early 2018, following a massive spike in overall volume.
Primarily Eastern Europe, Sub Saharan Africa, the Middle East, and Asia Pacific note significantly less bitcoin trading volume.
Western Europe, North America, Aus NZ, and Latin America note a status quo as far as LocalBitcoins trading volume is concerned.
What this all means for the future of the world’s leading cryptocurrency, is difficult to predict.
When the next bull market comes around, these statistics may look very different, after all.