Cryptomania: Four more countries join the Bitcoin Fever

The world is going crazy with Bitcoin. Few people do not notice this. However, if investors in the west are intrigued by cryptocurrency, then users of South Korea and Japan succumbed to full-scale hysteria, in particular, the price of Bitcoin on Japanese and Korean stock exchanges is 5-10% higher than in European and American exchanges. Which countries will become the next victims of cryptomania? Obviously, first, the cryptocurrency is paid attention where the national currency is unstable and subject to high inflation.

South Africa

To identify emerging markets, Google Trends is best suited. The accuracy of the service should not be built to the absolute, but thanks to it, you can understand what interests people around the world. The phrase "pay Bitcoin" is extremely popular in South Africa and demonstrates the interest of the region's residents in the cryptocurrency. According to data for the last 90 days, the region ranked fourth in the popularity of the query "buy Bitcoin."Two countries that rank higher in the list of the South African region, but also come from Africa - Nigeria and Ghana. In these countries there are many people who do not have bank accounts, and many other Africans in such countries of Zimbabwe, depend on remittances from abroad. Bitcoin for them is ideal. However, the governments of many African countries are afraid of the impact of the Cryptocurrency and do not want to recognize them.In order for Bitcoins to flourish in any country, they need two things: public interest and a favorable regulatory environment. South Africa passes by both parameters. Government is talking about adopting a "balanced approach" to regulating cryptocurrency, and the second largest supermarket chain is currently testing payments in Bitcoins. 

Australia

After Japan and South Korea, Which Country Will Be Next to Catch Bitcoin Mania? Australia has already caught the Bitcoin bug, but there are signs that it could develop into a fever as virulent as that sweeping its Japanese counterpart to the north. Australia ranks second for "buy Bitcoin" and "pay with Bitcoin" on Google Trends in the last 90 days. One Australian utilities firm is processing US $750,000 of bill payments a week in cryptocurrency. That is just the tip of the iceberg though, and if Australia goes Full Bitcoin – its Reserve Bank sees the potential in blockchain technology – the AUD could soon start creeping onto the fiat/Bitcoin volume chart.

Estonia

Slovenia – home to the cryptocurrency powerhouse that is Bitstamp – could just as easily have made this list. Instead, that spot goes its European cousin, Estonia. The tech-loving land, which bills itself a New Digital Nation, has its own e-Residency passport for "global citizens". It is also embracing blockchain technology and has floated plans for its own national cryptocurrency.

For all its progressiveness, the Northern European country has issued mixed messages regarding the status of Bitcoin exchanges. Still, the appetite for crypto is strong in Estonia, which has spawned an impressive number of fintech startups in the token economy this year. If its government was to formally welcome Bitcoin, Estonia would be primly positioned to become a market leader in fintech, blockchain, and digital ledger solutions.

After Japan and South Korea, Which Country Will Be Next to Catch Bitcoin Mania?

Venezuela

Venezuela is the dark horse for cryptocurrency adoption. You will not see it topping any Google Trends lists, but the appetite for an alternative payment and savings mechanism is there alright. While the country has not tried to ban Bitcoin, its police have clamped down hard on anyone caught mining cryptocurrency. It is not so much the mining that is the issue as the energy theft that often occurs. Then again, in a country that is endured 700% inflation this year – a figure that is tipped to top 2,300% next year – who can blame 100,000 Venezuelans for trying to mine their own money.

After Japan and South Korea, Which Country Will Be Next to Catch Bitcoin Mania?

Unfortunately, for Bitcoin to get bigger in Venezuela, living standards may need to drop further, forcing its impoverished people to take action. If a full-blown revolution were to topple the country's weakened government, anything's possible – yes, even a state whose new national currency is Bitcoin.

After Japan and South Korea, Which Country Will Be Next to Catch Bitcoin Mania? Other states could have made this list including Singapore and any number of African nations. Everywhere you look in the world – developed nations and developing ones; stable countries and unstable ones – interest in Bitcoin is piquing. Just as the global balance of power ebbs and flows between nations, so it is with cryptocurrency adoption. Japan and South Korea are leading the charge, but that is likely to change.