BTC mooning in Asia and Africa
As we all know, Bitcoin and the cryptocurrency world may just have hit critical mass. BTC has soared past $2,500 in most American and European markets, not a shabby moon at all. It turns out, though, that some Asian and African markets are far ahead.
Nigeria
With a population of 175 million, Nigeria is by far Africa's most populous country. In Nigeria, BTC has soared past 1 million NGN. The current price is equivalent to $3,300.
South Africa
South Africa is Africa's largest economy, and BTC is mooning pretty well there as well. The current rates are ZAR 40,000, which is $3,100.
India
Interestingly, while official figures suggest India is the second most populous country in the world, many dispute that China's claims are exaggerated and India is in fact the most populous country in the world. Either way, at nearly 1.3 billion people, its population is comparable to the whole of North America and Europe combined! It also has the second largest English speaking population after the USA.
BTC demand has truly mooned in India. The top BTC exchange app in India now has 500,000 users and exchanges struggling to cope and facing extended downtimes and delays. That hasn't hampered Indian traders one bit. Currently, the price is closing in on INR 220,000, which is $3,300.
Japan
Arguably, it was Japan's legalization of BTC that kickstarted this recent boom. Due to relatively greater adoption, Japan appears more stable than some of its Asian counterparts, but at the equivalent of $3,000 it's well ahead of the US markets.
South Korea
There's no place cryptocurrencies are exploding as in South Korea, however. I have read reports that, like in India, exchanges are struggling to meet demand, with delayed withdrawals etc, but I can't verify it. Hope some Steemians from the Korean community can comment. The current price in South Korea is an eye-popping $4,000! Even ETH is approaching $350!
What do you folks think? Is this sustainable? Will the US BTC price catch up to its Asian and African counterparts?
Heading for 1 Trillion.. it's an arms race now
It really feels like one!
We just need to hodl.
Indeed, that is often the best strategy!
wow! how come there is such a big price difference? Can we arbitrage from this? ?_?
I think most fiat exchanges require KYC, but if you know people from around the world, certainly you can.
Today I traded Bitcoin at average $3217 in India :)
Nice! Which exchange did you use?
Unocoin.
So I can move my BTC to unocoin and sell it for 20% more than I'm paying elsewhere? Tips and your referral code cheers!
https://www.unocoin.com/?referrerid=189398
Use Coupon UNO200 to get free 200 INR worth bitcoins free after signup
Current price is 2,16,000 INR which means $3375 (1 USD = 64 INR)
Bummer that coupon is expired.
ok then use COINDESK200
Thanks for the info.