Bitcoin (BTC) continues to trade at a premium in Argentina after a sharp currency devaluation sent investors running for a safe haven.
Argentine peso plunges 30%
Data from local cryptocurrency exchange Buenbit put Bitcoin trading around $11,750 at press time Aug. 13, compared to around $11,330 on major global exchanges.
When a shock defeat of incumbent president Mauricio Macri in the primary elections sparked the rout in the Argentine peso (ARS) on Monday, the Bitcoin premium was higher, implied BTC/USD passing $12,300 on Buenbit.
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Signs towards upward trend looking very strong
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This is exactly the reason why crypto community works hard to promote cryptocurrencies.
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No matter where it heads to but this time BTC is definitely in stronger position to rise about all time high.
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