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Crypto news: Strengthening the bitcoin prices against the background of restrictions on purchase of foreign currency

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All last week the price of bitcoin fell against the dollar, but in the weekend there are signs the recovery rate. On Saturday, the price goes up to $9 600, and after a small correction on Sunday continued to grow. On some exchanges the price of BTC rose above $9 800.

Укрепление цены биткоина на фоне ограничений на покупку валюты

The growth rate coincided with the restriction of purchases of foreign currency in Argentina. The corresponding decree was signed by President Mauricio Macri. Major exporters for the purchase or transfer abroad of dollars and other foreign currencies will require approval from the Argentine Central Bank. Individuals are allowed to buy no more than 10 thousand dollars a month. Restrictions will be in effect until the end of 2019.

Fearing default, some Argentines began to withdraw their savings. For the second year in a row the economy is in recession, and the unemployment rate increased. Over the past year the inflation rate reached 40%. At the moment, the cost of bitcoin to the dollar is $9 796. The exchange rate continues to strengthen gradually.

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