The price of Bitcoin failed to overcome the barrier of USD 60,000 this Thursday and has caused a loss of positions in the main global markets, including those of Latin America on the day of Black Friday that is celebrated in many parts of the world.
As a consequence, some Latin American markets have lost double digits in the price of the main asset of the alternative cryptocurrency market. Let’s review their behavior.
Argentina
According to data from Ripio Exchange, in Argentina the price of Bitcoin has fallen by -9-92% in the last 24 hours, to trade at an average of eleven and a half million Argentine pesos (ARS).
However, the positive note within this tragedy is the fact that since the presidency of the republic they have indicated that there are no dollars available for digital credit card purchases.
This server was able to verify that the issuers of some cards such as Banco Galicia, for example, do not process payments for foreign purchases in dollars despite the availability for it.
We have seen this in countries such as hyperinflationary Venezuela in the past, which ends up pushing the adoption and demand of the asset (BTC) among the population as a refuge value and a means of payment for these cases.
Therefore, it is not surprising that a similar scenario is experienced in the Gardel nation with the price of Bitcoin domestically in the coming weeks, pushing it higher regardless of its global value in US currencies.
Colombia
In the coffee nation, the price behavior of Bitcoin is similar to the rest of the region.
According to data from Buda.com, the price of Bitcoin has fallen by -5.7% in both the last 24 hours and the last seven days.
Chile
In the southern nation, the price of Bitcoin is slightly above 45 million Chilean Pesos (CLP), according to data from Buda.com
This represents a contraction of -6.2% in the last seven days.
Mexico
In Mexico, the price of Bitcoin has gradually decreased over the past 24 hours. According to the prices issued by Bitso Exchange, the asset is trading slightly below one million two hundred thousand Mexican pesos (MXN).
Peru
In the Inca nation, the price follows a downward trajectory like its neighboring peers of Colombia and Chile.
Buda reports a drop of -5.7% in the last 24 hours on the price of Bitcoin, taking it to trade at an average of 225 thousand Peruvian soles (PEN).
Venezuela
In the oil nation, the price of Bitcoin is trading above the bands of 270 thousand bolivars for sale and 240 thousand bolivars for purchase, according to data provided by Remitano Exchange.
The opinions expressed in this post are the sole responsibility of the Author and they have nothing to do with Cointelegraph’s editorial line. Every investment carries risk and you should do your proper research before investing. This post cannot be taken as financial advice.
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