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Key facts:
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The devaluation of the national currency increases the price of BTC in the exchange houses.
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A bitcoin costs, this Friday, April 24, between 863,000 and 904,000 pesos.
The devaluation of the Argentine peso compared to the United States dollar is affecting the price of bitcoin, the price of which already exceeds, in some cryptocurrency exchange houses, the 900,000 ARS. An unprecedented figure that brings it closer to a million pesos per unit.
When reviewing the exchange rates it is shown that the price of the first cryptocurrency is between 863,000 and 904,000 pesos, with an average for the sale of 877,644 ARS and 834,862 ARS for the purchase, according to figures from the coinmonitor.info service.
The rise in the price of BTC in Argentine pesos is more evident when analyzing the amounts traded in recent weeks. The website coin.dance shows that on the LocalBitcoins platform, for example, last week 66 BTC were traded for a total of 46,899,002 Argentine pesos. For the week of April 11, the figure was 58 BTC, although for a much lower amount in pesos, 37,724,428.
The increase is also perceived for the week of April 4 when 67 BTC were traded, this time for 38,906,745 million pesos. That is, between the last week and the first week of April, in which They quoted practically the same amount of bitcoin, there is a difference of almost 8 million Argentine pesos.
At this point it should also be noted that the price of BTC in dollars has also gained ground in the last three weeks, going from about $ 6,700 per unit to the current $ 7,522, according to the CryptoNoticias price index, which is also reflected in the final price of the currency in pesos.
Control of the dollar does not cease in Argentina
Local media reported this Friday, April 24, that the Central Bank of the Argentine Republic (BCRA) has made decisions to stabilize the price of the dollar, after reaching peaks of 120 pesos per dollar in the parallel market, 113 pesos in the so-called dollar exchange. and about 67 pesos the official dollar. This jump would be influenced by the global expansion of the coronavirus pandemic and the creditors’ rejection of a payment proposal from the national government.
A scenario with similar characteristics, although magnified by the political and social crisis, occurred this week in Venezuela with the bitcoin price above 1,000 million bolivars per unit in LocalBitcoins. In fact, the increase has not stopped and this Friday the price already exceeded 1,370 million bolivars, with a parallel exchange rate of approximately 200,000 bolivars to the dollar.
In the last 24 hours, the price in dollars of BTC has shown an advance of 5% to settle around USD 7,522. With this push, bitcoin surpassed its price at the beginning of the year when it was at $ 7,193, which is traditionally considered by the traders like a flat for the rest of the year.
What happens to the Latin American economies and the price of bitcoin, is presented to few weeks after the third happens halving of BTC, a programmed reduction of the currency issue It will go from 12.5 BTC to 6.25 BTC for each block mined. For analysts, this event could increase the price of BTC as long as there is a demand that supports the rise in the price.
