Bitcoin Price Eyes $4000 As USD LocalBitcoins Trading Volume Quadruples – Bitcoinist.com

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The US has experienced its largest jump in bitcoin volume over the past week on LocalBitcoins. Over $31.5M worth of BTC was traded on the platform as bitcoin price looks set to test the $4000 resistance level next. 


ATH USD Trading Volume on LocalBitcoins

Data from Coin Dance shows that USD trading volume on the popular over-the-counter bitcoin trading platform LocalBitcoins has reached its all-time high.

For the week ending on February 16th, LocalBitcoins saw traders exchange more than $31.5 million, nearly four times the amount exchanged the previous week ($8.4 million).

LocalBitcoins is a peer-to-peer (P2P) platform, which allows users to create and accept private sales of bitcoin for fiat currency and vice versa.

Bitcoinist reported that Indonesia has also seen a surge in Bitcoin through the platform.

Bitcoin Price Eyes $4000

Following the record values of USD volume traded on LocalBitcoins, the price of the cryptocurrency has also marked a notable increase.

At the time of writing this, Bitcoin (BTC) 00 has managed to gain over 8 percent in the past 24 hours.

As Bitcoinist reported, should the price manage to break towards the $4,000 level, this would show an Adam and Eve bottom pattern, which may allow for a further surge of the price towards $5,000.

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