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Oct. 17, 2018

According to Coin Dance, the volume of Bitcoin trading on the LocalBitcoins platform in October 2018 reached record highs in Argentina, Egypt, and Venezuela.

Due to the economic crisis in Argentina, an increasing number of citizens are seeking to invest in Bitcoin. Since April 2018, the peso has significantly fallen in price, which seriously affected the solvency of residents.

In addition, the Bank of the Argentine Nation recently approved the rules according to which there will be more BTC ATMs in the country. Many outlets in Argentina are already accepting Bitcoin.

According to Coin Dance, Venezuela will set a new record for the volume of Bitcoin trading. To date, the total trading volume of BTC in October 2018 amounted to almost 900 million bolivars (about $14.4 million).

In Egypt, locals invested more than 1 million Egyptian pounds in Bitcoin in October. Egyptian private and corporate investors are seeking to acquire cryptocurrency because of concerns that the economic reform policy launched in 2016 could lead to financial instability and a collapse of the national currency.

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