Yes, indeed, it is possible to bike in this bustling city!
Moreover, there is a free (gratis) 24-hour bike-share available to locals and tourists in the city; it is called Ecobici. There are about 200 stations located throughout the city which hold these green bikes. All you need to do is sign up at a local municipality office to get your VOS card, which you then scan at any Ecobici station to unlock a bicycle.
[Some disclaimers: It can be difficult to find a station equipped with bicycles at certain hours and in certain areas. Many bicycles malfunction (loose handlebars, sticky brakes), and many stations have at least one bicycle that is in several pieces, which makes you wonder what exactly people do with these bicycles...]
Nevertheless, I recommend! I use Ecobici nearly every day I can, despite the challenges, and it's been great fun.
Viv S. is the Fall 2017 MOJO Photographer in Buenos Aires, Argentina. She is currently a Sophomore studying Sociology at University of San Diego.