Bitcoin’s popularity seems to survive rising inwards Kenya, Malaysia, Russian Federation together with Venezuela - at to the lowest degree according to trading information coming out of LocalBitcoins.
Two weeks ago, bitcoin trading on LocalBitcoins inwards Republic of Kenya reached at all-time high of 10,576,927 Ksh, however, for the calendar week ending 2016-07-23, bitcoin trading volumes inwards the province totaled 10,239,393 Kenyan Shillings - minute best calendar week since 2013.
LocalBitcoins book information coming out of Russian Federation for the calendar week ending 2016-07-23 also showed the second-highest figure at 185,250,939 Roubles.
The biggest surprise this calendar week came out of Malaysia, where bitcoin trading is off the charts. LocalBitcoins volumes for the by calendar week showed a novel all-time high of 737,218 Malaysian Ringgits worth of bitcoin turnover inwards the country.
So, i powerfulness pose this question: why is bitcoin together with thence hot inwards Malaysia?
For starters, the ringgit has been on a losing streak since the the States regime announced a major money laundering together with embezzlement investigation into state-owned 1Malaysia Development Bhd, which allegedly laundered nigh $1 billion of the misappropriated funds through banks inwards the U.S. of A. The Malaysian ringgit dropped nigh 2.7% terminal calendar week - the biggest drib since September - due to the negative press surrounding the international investigation, TheMalayOnline reports. Low crude oil prices are also having a negative affect on the outlook of the Malaysian economic scheme together with currency, every bit Malaysia is Asia’s solely major cyberspace crude oil exporting nation.
It actually isn’t surprising that bitcoin is increasingly seen every bit a safe-haven asset. Influenza A virus subtype H5N1 like blueprint was also observed inwards Norway. In the aftermath of the Brexit vote, the Norwegian krone took a massive hitting together with LocalBitcoins book inwards Kingdom of Norway spiked immediately:
Like Republic of Kenya together with Russia, bitcoin trading inwards Venezuela is thriving. Another all-time high was recorded for the calendar week ending 2016-07-23:
Charts source: Coin.dance