Analysis Today TheBitTimes.com

The election of new Argentine President Javier Milei has given many in the local Bitcoin community cause for hope. After a long and dramatic presidential race, libertarian candidate Javier Milei triumphed in Argentina’s presidential election on Nov. 19.  Milei promises to abolish the country’s central bank, among a slew of other radical policy changes capturing the attention and imagination of the crypto community . With 99% of the vote counted on Sunday, Nov. 19, Milei was declared the winner. The flamboyant politician secured the favor of 55% of the electorate, with three million more ballots to his name than rival Sergio Massa. Fernando Nikolić, an Argentine Bitcoin (BTC) advocate and founder of media analyst firm Bitcoin Perception, told Cointelegraph that Milei “has spoken positively about Bitcoin when asked about it in interviews,” but also pointed out that enthusiasm should be tempered by the fact that “passing any sort of law that is considered ‘Bitcoin-friendly’ is not a p...

At press time, Bitcoin was trading at $37,172.29. BTC broke the $37K mark in the wake of Javier Milei’s victory in the Argentinian presidential elections. Javier Milei is a pro-Bitcoin politician. Bitcoin experienced a surge, surpassing the $37,000 mark, in the wake of Javier Milei’s victory in the Argentine presidential election . Milei, a self-described anarcho-capitalist, clinched the presidency with a significant 55% of the votes, signalling a major political shift in the country. Pro-Bitcoin stance fuels market confidence Milei, celebrated for his pro-bitcoin stance, has positioned himself as a supporter of decentralized finance (DeFi) and a critic of central banks. His victory has resonated positively within the cryptocurrency community, with Bitcoin enthusiasts optimistic about the potential impact of a pro-bitcoin leader in Argentina . While Milei sees Bitcoin as a crucial tool for economic revival, it’s important to note that he ...

Cointelegraph analyst and writer Marcel Pechman explains how Argentina’s 150% inflation is actually helping the altcoin market by luring more investors. On today’s Macro Markets show, veteran stock market and Cointelegraph analyst Marcel Pechman starts by analyzing Argentina’s 150% inflation , which proves that people continue to work and consume (somehow) even if their local currency loses its value. What is the lesson here? For starters, everyone wants free money. That explains why altcoin s and airdrops continue to attract attention, regardless of whether the majority of investors end up being unprofitable. You might think that those investors would quickly learn their lesson, but in reality, quite the opposite occurs. All it takes is a new market ing strategy — a new way of promising free money — just like the Argentines have a tendency to forget the mess the governments have caused over the course of 10 years. For Pechman, the bottom line is: Forget any promise of free money or ...