Crypto Trading Activity in Malaysia and Philippines Show Investors are Buying the Bitcoin Price Dip

Crypto market data provider Coindance shows peer to peer trading of Bitcoin (BTC) is exploding in Malaysia and the Philippines as trading volumes spike during latest price drop.

Crypto Traders have for long stressed that the best time to purchase crypto is when there was a dip in the market. But what has become difficult to estimate is how much farther the bleeding will go.

Nonetheless, there are traders in the Asian markets who believe that BTC is now experiencing its lowest though. According to a Coindance report, BTC p2p trading has recently taken off in Malaysia and the Philippines.

Asian BTC Traders Showing an Increased Interest

Traders operating on Paxful, the peer-to-peer trading platform experienced a colossal peak in BTC trading volume in the past week. This leap was especially high in the Philippines and came at a time when Bitcoin, the leading crypto asset in the world was experiencing a new six-month low.

The report noted that the total number of BTC that had changed hands in the country had leaped from 291,837 pesos last week to 1,221,000 pesos by the start of this week. This leap not only signifies a 5-time increase, but it’s also a representation of its highest all-time trading in the Philippines. Additionally, the Coindance report notes that:

“Malaysia is also registering a significantly higher trading volume over the past week than the previous. Bitcoins exchanged at a value of 149,724 Malaysian ringgit (RM) compared to 157,615 RM on November 23.”

BTC holders in the country have continued to increase at a steady pace, which also represents a new high ATH for Paxful.

While many Bitcoin traders seem to have lost faith in the crypto market, those in Malaysia and the Philippines appear to be in a buying spree. Paxful Bitcoin trading volume has continued to be on an increase since the crypto asset experienced a price crash. This is despite traders in Japan, China, and Europe breaking away from their normal peer-to-peer trading trends.

Bitcoin (BTC) Live Price

1 BTC/USD =$9,652.8392 change ~ 1.41%

Coin Market Cap

$177.55 Billion

24 Hour Volume

$4.1 Billion

24 Hour VWAP

$9.6 K

24 Hour Change


Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Daniel W
Daniel W
Daniel Wambugu writes daily cryptocurrency and blockchain related articles BitcoinExchangeGuide. His articles have appeared in numerous blogs, media publications, and community forums. He prides himself on once being a beginner and uses his experience to deliver high-quality insightful content for our dear readers. With a knack for reviewing ICOs or researching news, Daniel plans to continue being a top contributor for many years to come.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Canada Regulates Crypto Exchanges & Companies as Money Service Providers

Canada is now legally recognizing cryptocurrency exchanges and payment processors as Money Service Businesses (MSB). The new regulation, which is the amendments to Proceeds of...

Ripple Execs, Led By CEO Brad Garlinghouse, Meet With Central Bank Of Brazil Officials in ‘Closed to the Press' Meeting

Ripple Inc.’s, Brad Garlinghouse held a ‘closed to the press’ meeting with Brazil’s Central Bank officials on May 30th to discuss “institutional matters” in...

Tezos (XTZ) Class-Action Securities Lawsuit for the $232M ICO Sees $25M Settlement Pending

A class-action lawsuit against Tezos during its 2017 ICO may end in a $25 million settlement. The lawsuit was filed against Tezos for the...

Two Top Cryptocurrencies with the Worst Serial Market Performance

After the crypto winter of 2018, digital assets started recovering last year and continued the behavior into 2020. Although still far from their all-time highs,...

Chainlink, IBM, ING, Microsoft, NASDAQ, and R3 Among First to Join InterWork Alliance to Set Tokenization Standards

Top financial and blockchain industry companies have formed the InterWork Alliance (IWA) in a bid to standardize the business and enterprise tokenization market. The alliance...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today