Topic: Possible reason the price stabilized and is up the past 2 days, Argentina? (Read 499 times)
April 17, 2013, 06:17:33 PM
This, and the OkCupid story, are what collectively caused the prices to rise, IMO.
April 17, 2013, 06:15:37 PM
http://economiccollapsenews.com/2013/04/17/argentines-flocking-to-bitcoins-as-safe-haven-from-peso-inflation/
It looks like people in Argentina maybe moving their pesos to Bitcoin since the crash. This could explain the stabilization and now new rises in price. This could actually be a good thing for Bitcoin if more and more countries start moving money into Bitcoin. While it doesn't provide adoption of buyers and sellers of goods it could help it become a world currency which could drive adoption.
This assumes there isn't another bubble and panic sell off causing new buyers to move money elsewhere.
It looks like people in Argentina maybe moving their pesos to Bitcoin since the crash. This could explain the stabilization and now new rises in price. This could actually be a good thing for Bitcoin if more and more countries start moving money into Bitcoin. While it doesn't provide adoption of buyers and sellers of goods it could help it become a world currency which could drive adoption.
This assumes there isn't another bubble and panic sell off causing new buyers to move money elsewhere.
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