An old market saying for a bull market states “a rising tide lifts all boats” so it probably safe to say “a rising Bitcoin lifts all digital currencies” too. Seems that’s what’s happening. Although this article is not just all US, it does reflect the acceptance and use of digital currencies worldwide.
Record volume in the “busiest week ever” rocks the P2P site LocalBitcoins. In perspective, a majority of that historic volume of trading is NOT all in China but in a scattered few other countries. One, Venezuela, makes a lot of sence since the country is literally broke and getting money out is………………..well, impossible. Bitcoin to the rescue and reflecting what is sort of designed for.
The LocalBitcoins platform volume reflects another market axiom; “the higher the price goes (bitcoin) the more people flock in”. Publicity and acceptance are driving usage and demand.
Written by Bill Taylor, CEO – FintekNews