The price of Bitcoin in the main markets in Latin America has decreased by up to eight percentage points compared to the same period seven days ago.
The price of Bitcoin (BTC) has decreased as much as 8.11% this weekend in the main markets, after losing the 47k level in the global market.
Until April 8, the price continued to show no signs of recovery, trading at a spot price of USD 42,316, a decrease that for the moment exceeded three percent.
Argentina
Last weekend the price of the main cryptocurrency has had a drop in its price in the South American country, according to data from Ripio.
Bitcoin is valued at more than 8 million Argentine pesos (ARS) for purchase, while for sale it is over 7 million Argentine pesos (ARS), registering a drop of -2.84% in its price for this period.
Colombia
In Colombia, the price of Bitcoin is not favorable either and has had a loss margin of -1.3% in 24 hours, while accumulating -4.1% in the last seven days according to data from Buda.com.
Chile
In the southern country, the situation is not so different with the fall in the price of Bitcoin. According to Buda.com, the price of BTC is trading at about 35 million Chilean pesos (CLP), with a small contraction of -0.7% in its last 24 hours and a weekly accumulated of 3.2%.
Mexico
In Bittso, the reference exchange in Mexico, the price of Bitcoin was 855,588.24 Mexican pesos (MXN), a decrease of -4.55% compared to its previous price seven days ago.
Peru
Meanwhile, in Peru the price of BTC is trading at 161,693 Soles (PEN), with a drop in its price of -1.6% in the last 24 hours and -7.0% for the last seven days according to Buda.com.
Venezuela
According to the ivenezuela.travel website, the price of Bitcoin for the last 24 hours is 42,105 VES in dollarized Venezuela. Compared to April 10, this means a decrease of -1.46% in just 24 hours.
The Future of Bitcoin during Q2 this year
According to former BitMEX CEO Arthur Hayes, Bitcoin could crash by the end of the second quarter. Hayes’ vision is not at all rosy for Bitcoin. The expert expects that this cryptocurrency could crash at the end of the 2nd quarter. In a recent Medium blog post, Hayes predicted that Bitcoin would test the $30,000 level before the start of Q3.
The former BitMEX boss points to the fact that Bitcoin, one of the two largest cryptocurrencies, is “highly correlated” to the Nasdaq 100.
The 90-day correlation between Bitcoin and the Nasdaq-100 reached a new record high. “If tech stocks continue to underperform, cryptocurrencies will take a beating as well,” according to Hayes.
Although some altcoins are already down 75%, Hayes believes that they will not be able to escape the carnage to come.
On the other hand, Mike Novogratz, CEO of Galaxy Digital, recently said that the crypto market could go to the moon in 2022 if the Federal Reserve returned to monetary easing.
In this regard, Hayes expressed that the market will probably hit rock bottom before the Fed changes course.
By Audy Castaneda
