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<img width="1280" height="720" src="https://coingape.com/wp-content/uploads/2023/11/javier-milei-Bitcoin.jpeg" class="attachment-full size-full wp-post-image" alt="" decoding="async" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2023/11/javier-milei-Bitcoin.jpeg 1280w, https://coingape.com/wp-content/uploads/2023/11/javier-milei-Bitcoin-300x169.jpeg 300w, https://coingape.com/wp-content/uploads/2023/11/javier-milei-Bitcoin-1224x689.jpeg 1224w, https://coingape.com/wp-content/uploads/2023/11/javier-milei-Bitcoin-768x432.jpeg 768w, https://coingape.com/wp-content/uploads/2023/11/javier-milei-Bitcoin-678x381.jpeg 678w, https://coingape.com/wp-content/uploads/2023/11/javier-milei-Bitcoin-150x84.jpeg 150w" sizes="(max-width: 1280px) 100vw, 1280px">
<p>Bitcoin (BTC) has made a quick bounce today gaining 2% and moving past the $37,200 level as Argentina elected Javier Milei, as the country’s new President.</p> 
<p>With nearly 99% of the votes tallied, Milei secured over 55% of the votes, establishing a substantial lead of almost 3 million votes, as per Bloomberg data.</p> 
<p>Massa, the nation’s economy minister, extended congratulations to Milei on his victory when over 90% of the votes had been counted, even before the release of the initial official results. Milei will assume office next month on December 10.</p> 
<h3 id="crypto-community-excited-about-javier-milei-s-win">Crypto Community Excited About Javier Milei’s Win</h3> 
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            <p>The enduring inflation crisis in Argentina has been a prominent issue in the South American nation, marked by the Argentine peso experiencing an annual inflation rate exceeding 140% in the past 12 months. Many crypto proponents have also been advocating that Argentina should adopt Bitcoin as an inflationary hedge. As a result, some of the top Bitcoin proponents are also celebrating Milei’s victory.</p> 
            <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
             <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> is hope for Argentina. Congratulations <a href="https://twitter.com/JMilei?ref_src=twsrc%5Etfw">@JMilei</a>.</p> 
             <p>— Michael Saylor<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/26a1.png" alt="⚡" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@saylor) <a href="https://twitter.com/saylor/status/1726407355103899977?ref_src=twsrc%5Etfw">November 20, 2023</a></p>
            </blockquote> 
            <p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
            <p>Milei has openly criticized the country’s central bank, denouncing it as a scam and a “mechanism through which politicians deceive the public with inflationary taxes.” He also views Bitcoin as a movement toward “restoring money to its original creator, the private sector”. In one of his <a href="https://coingape.com/javier-milei-bitcoin-tucker-carlson-interview-crypto/" target="_blank" rel="noopener">previous interviews</a>, Milei said:</p> 
            <blockquote>
             <p><span class="css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0">“With legal tender, they scam you with the inflationary tax… </span><span class="r-18u37iz">Bitcoin</span><span class="css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0">&nbsp;is the natural reaction against central bank scammers; to make money private again”.&nbsp;</span></p>
            </blockquote> 
            <p>Yet, he has not shown any inclination to designate Bitcoin as a legal tender in the nation. However, if he considers it, Argentina would be the second Latin American country to make Bitcoin a legal tender, after El Salvador.</p> 
            <p>Interestingly, Bitcoin maximalist Max Keiser <a rel="nofollow" href="https://twitter.com/maxkeiser/status/1726378588637704543" target="_blank">said</a> that he expects three Latin American countries to make Bitcoin a legal tender by early 2024.</p> 
            <p>Massa’s perspectives on the monetary system, banking, and the cryptocurrency industry seem to stand in stark contrast to Milei’s. Back in October, he committed to introducing a central bank digital currency (CBDC) in the event of being elected, aiming to “address” Argentina’s enduring inflation challenges.</p> 
            <p>Massa emerged victorious in the initial round of Argentina’s presidential election held in October. Despite this success, securing an outright victory eluded him, necessitating a final run-off vote. Preceding this, Milei secured a triumph in Argentina’s primary election in August, prevailing over Massa and other contenders</p> 
            <h3 id="bitcoin-price-action-ahead">Bitcoin Price Action Ahead</h3> 
            <p>As we approach closer to the next Bitcoin halving analysts are turning <a href="https://coingape.com/__trashed-10/" target="_blank" rel="noopener">extremely bullish</a> about Bitcoin. Ali Martinez notes that we are at the beginning of a 700-day Bitcoin bull run ahead of us till October 2025.</p> 
            <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
             <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> history might repeat itself! </p> 
             <p>If we mirror <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a>'s past bull runs (2015-2018 &amp; 2018-2022) from their respective market bottoms, projections suggest the next market peak could land around October 2025.</p> 
             <p>That means <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> still has 700 days of bullish momentum ahead! <a href="https://t.co/MOUS1CYOn0">pic.twitter.com/MOUS1CYOn0</a></p> 
             <p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1726281649409941512?ref_src=twsrc%5Etfw">November 19, 2023</a></p>
            </blockquote> 
            <p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
            <p>The renowned social media trader Titan of Crypto recently reaffirmed a pre-halving BTC price forecast of up to $50,000 on November 19. Bitcoin is encountering strong resistance in its attempt to surpass the $40,000 threshold; repeated efforts to breach this level have proven unsuccessful over the past week.</p> 
            <p>Titan of Crypto has also identified $39,000 as a critical boundary, but this time as the lower limit for where BTC/USD should ideally stabilize before the upcoming block subsidy halving event in April 2024.</p> 
            <p>“The pre-halving rally I told you about one year ago is about to reach its target zone between $39k-$50k,” he said.</p> 
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<p>The post <a rel="nofollow" href="https://coingape.com/btc-price-jumps-as-argentina-elects-pro-bitcoin-javier-milei-president/">BTC Price Jumps As Argentina Elects Pro-Bitcoin Javier Milei As President</a> appeared first on <a rel="nofollow" href="https://coingape.com">CoinGape</a>.</p>

BTC Price Jumps As Argentina Elects Pro-Bitcoin Javier Milei As President

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