Bitcoin Hits All-Time Highs Against Turkish Lira As It Collapses

The beneath is from a latest version of the Deep Dive, Bitcoin Magazine’s premium markets publication. To be among the many first to obtain these insights and different on-chain bitcoin market evaluation straight to your inbox, subscribe now.

The Turkish lira has been in free fall after President Erdogan demanded the Central Bank of Turkey cut rates for a third consecutive month from 19% to 15%. The Turkish lira against the  U.S. dollar has been weakening over the past decade, but yesterday the currency saw rapid deceleration losing over 10% of its value in one day hitting an all-time low. It’s a historic event for a G20 country. 

Source: TradingView

In a historic event for a G20 country, the Turkish lira is in free fall and making the case for a bitcoin hedge.

Source: TradingView

Source link