Investors turn to Bitcoin in Turkey as the value of thier currency (Turkish Lira) slips —— currency devaluation is happening in many countries

Source: https://bitcoinist.com/bitcoin-price-turkey-lira-value-slips/

We know and we have seen what happened in Venezuela as their currency suffered extreme devaluation (which means everything costs more). I saw a headline which said the cost for a bitcoin in Venezuela is doubling every 18 days....hard to imagine.

We move to Turkey which now is in the spotlight with the falling Turkish Lira. Turkey is not an underdeveloped country by any means and for a country of this magnitude to have currency issues could have implications for other countries carrying Turkish investments.

The value of the Turkish Lira has fallen 45% this year

What does this mean for Bitcoin? If investors are looking to maintain the value of their currency, would they move it to Bitcoin? We see this week that turkey’s largest Bitcoin exchange volumes increased by 63%. Smaller Turkish exchanges are seeing a 35% to 100% increase in volume.

The future for Fiat currencies in many countries is making headline every month and not in a good way.

We know that Bitcoin has lost value this year as well —- but not because the future looks bad or the techinical reason have changed. Bitcoin is under assault in desperate effort to give a 2nd chance to the Banking cabal and investment community to “load up” (IMHO). They missed 2017’s run up and that does NOT happen on Wall Street. They make the rules as we can see what has happened since the CBOE Bitcoin Futures came out.

But Bitcoin ETF and more is coming in 45-90-120 days. There is a massive future. What can be said for these other currencies?

I don’t wish to see any hardship in these countries / currencies. I beleive the Turkish population and other countries are more than smart and capable to diversify and preserve the value of thier wealth.