It is always worthwhile to see if global demand for Bitcoin starts to pick up again. For LocalBitcoins traders, the volume is picking up significantly across North America, Asia Pacific, and Australia/New Zealand. Eastern Europe, on the other hand, is cooling off rapidly.
LocalBitcoins Volume Peaks Again
When the Bitcoin price turns either bullish or bearish, there will be an immediate impact on global demand. This can best be measured across peer-to-peer trading platforms such as LocalBitcoins. If the volume rises across different regions, there is reason to be cautiously optimistic. There is an apparent increase in demand across some areas in the past week, whereas other places note a reverse effect.
Looking at North America and Asia Pacific as an example, the demand for BTC through LocalBitcoins is picking up. North America notes a volume increase of 12%, bringing its weekly volume to $3.78 million. It is a mere drop in the bucket compared to Bitcoin’s overall trading volume, but still an important aspect regardless.