On March 17, Venezuelan President Nicolas Maduro announced a national quarantine in connection with the coronavirus pandemic, which led to an increase in trade in the country.
So far, Venezuela has registered 33 cases of infection with coronavirus, but Maduro decided to take the strictest measures possible and declared a national quarantine. This has led to the temporary closure of the vast majority of companies, including banks, so bitcoin has become a real alternative to fiat.
LocalBitcoins showed record trade volumes with bolivares at the beginning of the year. Since then, trading volumes have been gradually declining, but two weeks ago the popularity of Bitcoin again increased.
It seems that the spread of coronavirus has affected the popularity of the first cryptovite throughout the Latin American continent. Thus, the trading volume with Bitcoin has grown by 30% in Peru and 15% in Colombia. Both countries closed their borders the other day.
At the beginning of the month it was reported that the world trading volumes with Bitcoin on LocalBitcoins fell to a 7-year low. Previously, the leading peer-to-peer exchange platform lost a significant number of users and lost confidence due to the blocking of accounts and the transfer of customer data to law enforcement agencies.
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