Published On: Sun, Jul 10th, 2016

Price Report: Bitcoin is Dominating Argentina

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Another small rise is in the books. Following a drop to $639, the price of bitcoin has jumped up to about $645 at press time.
Also read: Pounds vs Yen: The Battle Over Bitcoin Rages On
At first glance, this appears to be a meaningless rise. Just a few dollars, nothing to scream and shout about, but considering the circumstances surrounding the halving that has now officially taken place, the results are something to celebrate.
The price of bitcoin fell about 5 percent at midday on Saturday, slumping to the $620 range. This drop was only temporary, though, as just a few hours later the price rose by an additional $20, causing everyone to breathe a deep sigh of relief.
Following the first Bitcoin halving about four years ago in 2012, the price of a single coin dramatically increased. We’re likely to witness a similar spike in the coming weeks, granted these results repeat themselves.
“The impact of the halving isn’t based on size, it’s based on marginal profitability,” explains Erik Voorhees of Shapeshift.io.
But some aren’t looking at the halving as an influence at all, believing action in countries like Argentina could …

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