Again the ups and downs of the economies of the world are evidence of the strengths of bitcoin address the coins. On this occasion, a new economic circumstance shakes down to Argentina. There, from this September 2, enters into force a new decree by which the residents of this country wishing to purchase us dollars or transfers require the authorisation of the Central Bank.Establishing a change control that will be in force until the end of this year and that will limit access to dollars both to institutions as to individuals. The measure, taken by the argentine president Mauricio Macri was announced on Sunday 1 September. This, in the context of the turmoil that erupted in the markets after the setback suffered by the ruling party in the presidential primaries last August 11.In the decree it is alleged that before the various factors that have impacted the evolution of the economy and the uncertainty caused in the financial markets, the Executive “was in the need to adopt a series of extraordinary measures aimed at ensuring the normal functioning of the economy, to sustain the level of activity and employment and to protect consumers”.In consequence, it is also required that the collections of exports of services are entered and cleared in the local market within five business days, a rule that affects the collection of services from the outside with cryptocurrencies, as it exposes the bitcoiner Franco Amati in a tweet.
The argentine government requires us to sell in 5 business days for the bitcoins collected by the services on the outside. ?♂️ pic.twitter.com/jXthdS4a7n— Franco Amati ??⚡ (@franamati) September 1, 2019
In the face of such ads, for this Monday, it is expected a large movement in foreign exchange transactions in the south american country. Analysts predict a week very congested for the markets of argentina. Something that surely will impact on the market of the cryptocurrencies.In that sense, the average price of bitcoin in argentine peso (ARS) recorded an increase of around 20%, according to data from the web page coinmonitor.info. The price of each BTC is around ARS 762.000, on average, while the u.s. dollar (now under control) is trading between 59 and 65 ARS, approximately, in the middle of a scenario of volatility.A similar situation was experienced a few weeks ago, after learning of the results of the presidential primary in argentina. For that moment, the political uncertainty, coupled with the devaluation of the currency, encouraged the growth of the market of bitcoin and generated a 27% increase in the local price of bitcoin.
The strengths of Bitcoin
Use the cryptocurrencies as a store of value is a trend already well-known, that has been proven in economies that are experiencing a collapse of its sign monetary and established exchange controls. Venezuela is a clear example of this, just as the same as Argentina, which was under control exchange rate between 2011 and 2015, a period in which the bitcoin quickly flourished in that country.These facts emphasize the freedom of mobilisation of value that offers bitcoin. There is No way that any government can limit the exchanges of cryptocurrencies with a currency exchange, and decide how much to buy or sell. The rules puts the market, even though many governments are trying to impose controls through the collection of taxes, among other requirements.But even in the cases that establish regulations or prohibitions strict, the citizens always find ways to continue marketing to cryptocurrencies, taking advantage of its decentralized nature. Seen in such a giant as China, and even in small countries, such as Bolivia.This new economic landscape in Argentina represents yet another challenge that can lead to the cryptocurrencies to a cycle of greater strength. Bitcoin, which fighter that wages war on a number of grounds, it is also seen as a winner in the case of unleashed a currency war at the global level, due to the current tensions between China and the united States. It is as well as the criptomoneda, little by little, is becoming a lifeline for many investors.