A no less important fact is that the Dolar blue It ended last week at $900, in a paralyzed market with strong restrictions and interventions to prevent the currency from escalating in anticipation of the electoral contest. However, while this was happening in the parallel market, in the provinces the same market was between $950 and $1,200. That’s why he crypto dollaris a guide to know what can happen.
What is the crypto dollar
First of all, we must take into account that the dollars crypto They have no restrictions of any kind, since They operate 24 hours a day, seven days a week. Furthermore, it must be considered that its price cannot be intervened either by government controls or by economic operations in the market.
Although its market is smaller and considered marginal compared to the blue dollar, it has gained popularity among young professionals, who in recent months have opened thousands of accounts in this market. This environment is chosen by savers looking for protection against possible devaluations.
Hence the crypto dollar It is often a leading indicator of informal dollar fluctuations.
How much is the crypto dollar trading at?
According to Coinmonitor.info, The currency fell more than 16% on average since the first results of Sergio Massa as the most voted candidate were known and remains at $1,051.37. However, on some exchanges, it trades below $1,000. This is the case of Beloapp ($905), Satoshi Tango ($920.33), Ripio ($923.85), Bitso ($935.27), Buenbit ($935.71) and Lemon ($937).
Furthermore, the Actual Price It implies a decrease compared to last Friday, the last business day before the elections, when the crypto dollar reached almost $1,225.
This drop is explained because the runoff scenario was confirmed, which would postpone any extreme measure such as possible dollarization.
What to expect with the blue dollar
For analysts PPI“for Milei It will be functional to continue insisting with the dollarizing speech, since it puts upward pressure on CCL and the gap and this will damage the perception of the ruling party in the four weeks” until the second round.
In this case, “the CCL would continue to climb, although not to the levels of scenario 1” with which “the exchange gap “It would escalate well above 200% and make it difficult to maintain the exchange rate set at $350.”
“We see the ruling party trying to avoid the discrete jump with a restart of the crawling peg and greater regulations and obstacles on both the MULC and the financial dollars“, they indicated.
In FMyA provide in this case “a stressed blue dollar as in recent weeks, and an official dollar returning to the crawling peg (without a devaluation jump).”
LCG understands that “in a scenario in which Massa remains competitive, the Government would intend for peace to last until the elections on November 19, and would try to sustain it with greater regulations and more interventionism.”
Source: Ambito
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