Bitcoin Volume Spikes In United Kingdom – Bitcoin Magazine

The following is a direct excerpt from Marty’s Bent Issue 1269: “Interesting reaction outside the UK” Subscribe to the newsletter here.

Is Bitcoin Diverging From Traditional Markets?  Are people starting to wake up that the fiat system will not save them in times of crisis?

road Coinshares

Here’s a graphic that’s been stuck in my head all week. It was shared by the Coinshares team and highlights the volume of bitcoin trading in the UK earlier this week while the British pound was in freefall. As you can see, volumes exploded to just under $900 million, reaching their highest level in over two years. It is difficult to discern the intent of those who were trading bitcoins in larger sizes in the UK. They could have been people looking to take advantage of rapidly developing arbitrage opportunities, people looking to sell bitcoins for liquidity to service failed transactions, or people looking to buy. bitcoin as a hedge against the currency’s rapid degradation.

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