Bitcoin Forum

LocalBitcoins volumes are heading back towards new all-time highs as Ukraine and the Dominican Republic set new records. The highs are part of a recent resurgence in LocalBitcoins markets, having previously come off highs largely driven by Chinese investors seeking alternatives to barred exchanges.

Ukraine’s story, meanwhile, shows a continuation of a steady trend. The country’s weakened currency and heavy tech industry makes it fertile ground for Bitcoin interest, with the government for its part actively incorporating Blockchain technology into its economic strategy.

Which countries do you think would be the next all-time highs in LocalBitcoins?

In BTC-e also, it has hit $1,249.98 per coin. There seems to be a lot of resistance at $1,250 level, as those who purchased their coins at $200 per BTC in 2015 seems to be doing profit booking. I expect the resistance to breach in 1 to 2 hours time. The reasons for this spike is still unknown. I don't think that it was driven solely as a result of Bitfinex.

The other day someone created the thread saying some gulf country has record volume.Given the amount of wealth these oil rich nations have ,I think next big news may come from some gulf country.

with all the good news about bitcoin, the price of it rising, and also what Japan did, it is obviously leading to a lot more adoption. so the trading volumes also go up as a consequence of this.

and these countries usually don't have a big and trusted exchange service such as those like kraken or coinbase so they have to go to localbitcoins to do their trading, so all the similar countries would be next to have all time highs there.

I believe it's solemny driven by Bitfinex. Opinion is free, and the signs are obvious. Spread?

But really "Ukraine’s government" and "its economic strategy" made me chuckle. They got none. At least nothing visible. Regarding the Localbitcoins it should tackle the bigger, central european areas first and formost. There's the money.
Third world countries would count in if mass amounts of transactions per second would be transfereable with zero fees. Without those features, you will never make pace over there. Not even a half mile.

Why do you care about Ukraine and the Dominican republic?
Bitcoin is going to be 100% adopted by all the poor countries like those that you mentioned.
Nobody can stop this process.

It is showing signs of movements the price of bitcoin thanks to all this news together I think. Mass adoption is only good for bitcoin, I hope many other poor countries follows this good example of Ukraine and Dominic Republic. The price at preev is at 1315 dollars  from 1295 dollars that were before.

 I only feel sorry for people who are buying bitcoin through Localbitcoins as they are paying a much higher price than the actual markets price.

So now I have a dilemma, some traders say that current high price is a result of Bitfinex and Chinese exchanges not being fully operational.
That is a reason trading moved to localbitcoin. What will happen when this problem with wire bank transfers will be solved?
Should we expect a mass coin dump or relief that nothing bad really happened will push the price higher?

Could result into a small dip since the exspection of a dip is felt overwhelmingly. Recovering into a more cautious sideways move for some weeks. The global perspective did not changed much, small disturbances are more likely chances for the plucky ones.

$2000 incoming....

I think the next wave will happen in the Europe, with the worsening of economic conditions....

Too early if we expect the solution of transfer bitcoin trading by using wire bank transfers, we as daytrader is not too dizzy with things like that, the most important is to analyze the trading system in the next 30 days (short term). Localbitcoin currently enjoyed also not be a surprise because traders can choose to trade wherever they want.

Yesterday we read the news that the Arabian peninsula is bringing high volumes of change to localbitcoin, and today the Ukraine & Dominican Republic follow suit, this is just a shift in the concentration of market trading election that is still in a reasonable stage, I think the future will also target all third world countries and some eastern europe and latin america.

I think, to answer your question : Most African countries with a weak economy would be the ideal area for a sudden explosion in Bitcoin use. The communication infrastructure might be a bit of a problem, but they are using M-Pesa with very good success, so why not Bitcoin?

Many poor countries will start using bitcoins, if the scaling problems can be sorted out. We need a cheap alternative for micro transactions in these African countries. 

I also see $2000 coming for sure. With localbitcoin doing so well in most countries it's no wonder. I personally use them when going from fist to Bitcoin or vice versa. This is it boys ! I'm in it for the long ride. That's ride that Bitcoin ewbe to the bank. Riches for us all !! xD

Well done to localbitcoin for this achievement. <3  :D

I expect the current level to be upsurge in few days because I see people coming in to take advantage of the increase in price that is being witnessed around here consistently in the past few days. Also, I expect to see more of developing countries or underdeveloped countries on the list and the reason is not far fetched, they don't have the technological infrastructure in place to control bitcoin as we can see in the advance world. Their financial system is still relaxed that so many transactions can be done even by ordinary citizens without catching the attention of the authorities.

The Great Brittish Empire comes to mind, or at least the parts that are still left. Just hardly counting in as beeing european nowadays, but for histories' sake we can accept that. Trading pairs like BTC/GBP gaining daily volume? Perhaps soon.