13/08/19 11:00 UTC-4

The fall of the Argentine peso caused an unexpected Bitcoin rise

Argentine peso after the fall provoked the growth of Bitcoin
Argentine peso after the fall provoked the growth of Bitcoin

Today, on August 13, on the large Argentine exchange, Buenbit, the value of Bitcoin increased by 4% compared to other world exchangers. Most likely, the growth of the first cryptocurrency is associated with the fall of the peso, which today fell by as much as 30%.


Bitcoin and Peso in Argentina

According to the local Buenbit Argentinean cryptocurrency exchange, on August 13, Bitcoin was exchanged at the rate of about $11750, while on major world exchanges it cost about $11330.

According to press reports, the fall of the peso is nothing more than the result of the defeat of incumbent President Mauricio Macri in yesterday’s election. After the defeat of the presidential party, the national currency collapsed by 30%, and the digital gold exchange rate began to grow regardless of the average market value.

According to press reports, election winner Alberto Fernandez criticized his opponent, current President Mauricio Macri, for increasing short-term debt to unacceptable levels. In addition, he said that he did not want a default on the country's obligations. This, in turn, negatively affected the peso and pushed the citizens of Argentina to invest in cryptocurrency.

It is worth recalling that the latest bitcoin news informs that the cryptocurrency has fixed at a level above $11000 and so far does not differ in high volatilityVolatility
– is a financial term that means a statistical indicator of price change. In the cryptocurrency world, it is used by traders as an indicator for managing financial risks. That is, it is a measure of trade risk and as a financial analytical tool for gambling. Details
of the exchange rate, which creates a double impression. At the same time, the coin's dominance coefficient is still above 65%.

The fall of the Argentine peso triggered an unexpected Bitcoin rise. Recall that the US Congressional Research Service said that America’s energy sector could be improved with blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.
Details technology.

Editor: Pereyidenko Ihor

See also: "Ethereum cryptocurrency will be at $1000: survey results"

#peso #Argentina #Argentinaelection #Bitcoin #Buenbit #AlbertoFernandez #MauricioMacri #Bitcoinrate



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