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

$136.5649

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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

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