Trump Trade Will Impact Bitcoin’s Latin America
This was taken from the original Steemit article that can be found here: https://goo.gl/7ruak1
So starting with Latin America… This is a topic that keeps on coming up over and over again in the United States (US). So I will continue to talk about it here on this blog. Early this year, CT (Coin Telegraph) news tied Bitcoins surge across Latin America with the Trump Era. This should not be a surprise as the new US administration are still sounding the alarm towards renegotiating trade policies with Asia and Latin American countries. The July 19th article by Reuters titled “US, Canada, Mexico agree on fast-paced NAFTA talks” mentions how a trade agreement will be reached by the end of next year before Mexico’s 2018 presidential elections. But while all this is happening, Argentina, Brazil, and Mexico are still seeing steady growth in Bitcoin trading across LocalBitcoins, a peer-to-peer Bitcoin exchange. And in Chile, Columbia, and Venezuela the Bitcoin volume has increased by several folds. The Steemit article that I posted about a week and a half ago, depicts the rise in Bitcoin volume. This data was derived by help from coin.dance.
In the west, we continue to hear of Bitcoin meetups growing in places like Mexico, and while Argentina is becoming the Latin American capital of a growing Bitcoin community. You do not have to look too far: Just look at the FB + Argentina support that Bitcoin is getting.
Bitcoin has become a symbol of flexible remittances as US and international financial policies remain stringent with money transfers. In addition, with a devaluation of local currencies, Bitcoin has been a decent hedge for all Latin American countries for the past two years. So with the Trump trade almost over or baked into the markets, it’s now a question of what global catalyst is left to impact Bitcoin. Anyones guess at this point could include more bank closings as we have seen with big private banks in Latin America and Europe just this year. Also there are questionable defaults with some United States pension systems. You also have the migrant situation as a possible catalyst that might affect the EU’s financial system. All I can say as of this time is that there are a number of questionable factors all around. And though this uncertainty is sad, it’s however bullish for Bitcoin. What are your thoughts?