Argentina is having a bad time financially, with the peso depreciating sharply against the dollar. The fact is that it was a trading record not only in ARS but also in bitcoin.
After all, the value of the Argentine peso is decreasing dramatically, and the value of the US dollar in recent months continues to fall compared to other more stable currencies. LocalBitcoins, record trading not only in Argentina In fact, there have been sustained trading volumes on LocalBitcoins also in other parts of the world, with a new absolute record also in Venezuela, although only slightly higher than the previous one.
Very curious is also the peak in Europewith over 3.
It is likely that the long period of relative stability in the value of bitcoin has convinced some people to consider it less volatile and risky than in the past, prompting them to consider it as an alternative to the fiat currencies in their possession, possibly even in view of rising inflation.
Besides, it is precisely in Argentina that rates of inflation localbitcoins site down now very high, although not yet at the exorbitant levels of Venezuela.
Evidently, in some cases, bitcoin can come to the aid of those who hold fiat currency in strong devaluation, also because it is very easy to exchange, with no restrictions of any kind.