Trading volume up:
Venezuela LocalBitcoins trading volume graph.
Venezuela LocalBitcoins trading volume graph.
The 1600% inflation forecasted by the IMF for 2017 surely helps.
What about the other mentioned countries, same issue?
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So, one might pose this question: why is bitcoin so hot in Malaysia?
For starters, the ringgit has been on a losing streak since the US authorities announced a major money laundering and embezzlement investigation into state-owned 1Malaysia Development Bhd, which allegedly laundered about $1 billion of the misappropriated funds through banks in the U.S. The Malaysian ringgit dropped about 2.7% last week - the biggest drop since September - due to the negative press surrounding the international investigation, TheMalayOnline reports. Low oil prices are also having a negative impact on the outlook of the Malaysian economy and currency, as Malaysia is Asia’s only major net oil exporting nation.
For starters, the ringgit has been on a losing streak since the US authorities announced a major money laundering and embezzlement investigation into state-owned 1Malaysia Development Bhd, which allegedly laundered about $1 billion of the misappropriated funds through banks in the U.S. The Malaysian ringgit dropped about 2.7% last week - the biggest drop since September - due to the negative press surrounding the international investigation, TheMalayOnline reports. Low oil prices are also having a negative impact on the outlook of the Malaysian economy and currency, as Malaysia is Asia’s only major net oil exporting nation.
http://razorsforex.blogspot.com/2016/07/bitcoin-trading-spikes-in-malaysia-as.html
Russia probably has to do with them not making it illegal to buy bitcoins in Russia. Not sure about Kenya...that looks like it's just finally starting to become known there.
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