With a war in full swing and the traditional financial markets in decline, the bitcoin price and the rest of the market cryptocurrencies It has behaved in a similar way to the rest of the main stock indices in a difficult week for traders.
However, this is not surprising, since historically the price of BTC in the first quarter of every year since 2013, it has been dismal except for the 2017 and 2021 bull cycles, as highlighted by Cryptorank.
For this reason, with a price close to 39k and a bearish sentiment on traditional investments, Bitcoin could reverse this trend and accelerate its positive performance in the coming weeks should the Russia-Ukraine war conflict escalate.
Latin America has not been the exception to this behavior and at the end of the last week of February, the price of the asset is still slightly downward, despite the recovery of the last few days in the price of BTC.
But traders are generally optimistic about the price of Bitcoin and predict that the “bitter drink” is already ending.
Without further ado, let’s see how the BTC price closes in the last week of February 2022 in the main LATAM markets.
Argentina
At the close of this edition, Ripio points out that the price of bitcoin in Argentina is with a slightly downward variation of -0.36%to be listed at an average purchase price above $7.8M Argentine Pesos (ARS).
Colombia
In Colombia, the behavior of the price of BTC is similar to the rest of the market, with a strong decline both in the last 24 hours and in the last seven days that already exceeds two percent.
According to the data provided by Buda.com, the price of BTC is trading at the threshold of 145 million Colombian Pesos (COP).
Chile
For your part In Chile, the BTC price trend is reversing as the asset breaks out of the weekend trap.
With a price of just over 31 million Chilean Pesos (CLP), Bitcoin price is entering the intraday green zone and is already approaching the 2% recovery in the last seven days.
Mexico
With an increase in market volume of up to 85 BTC in the BTC/MXN pair, the price of Bitcoin on Bitso Exchange is slightly tilted downwardsalthough a strong green candle begins to appear on its daily chart.
Overall, the price of BTC in Mexico is still slightly in the negative territory, with a loss of -0.5% in the last seven days. A trend that could change at any time.
Peru
Another South American market that follows the downward trend in the price of Bitcoin is Peru. Buda reports that almost two percentage points have been lost in the price of the BTC/SOL pair, and a higher percentage is reported in the last seven days.
Venezuela
In hyperinflationary Venezuela, the reality continues to be contradictory to the rest of the region and similar to the behavior of Chile.
With a price above 154 billion Bolívares Soberanos (VES), the price of Bitcoin in Venezuela experiences an increase of +2.00% in the last hours according to data provided by SatoshiTango.
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