Quote from: davis196 on August 26, 2018, 06:05:42 AM

Quote from: hatshepsut93 on August 26, 2018, 03:45:34 AM

So far there is no clear example of Bitcoin growing as the result of some economic disaster. People expect that Bitcoin will be used as a hedge, but they forget that Bitcoin is highly volatile and immature, so those who want to preserve their money are more likely to use safer options like gold or foreign currency. Turkey's economy is also too small to have significant effect on Bitcoin, if we had a crisis in EU or the US, that would be more likely to boost Bitcoin's price, but I doubt it would be enough to trigger a true bull run.

The GDP of Turkey was around 1 trillion USD.I don't think that the Turkish economy is small.However,the current situation around the turkish lira show that there's no impact over the cryptocurrency prices.Nobody in Turkey is buying crypto to preserve the value of his savings.Actually,I saw that people in Turkey are buying more turkish lira in order to recover it's value.

I wouldn't say that nobody in Turkey is buying crypto. The overall size of daily trading volume in Turkish exchanges is over $10 million, and don't forget that they can exchange TRY for BTC or other crypto not only in Turkish exchanges. But I agree that probably over 99% of Turkish citizens don't buy crypto, and that is because over 99% of citizens of any country don't invest in cryptocurrencies. So, no, Turkeys economic crisis will not trigger the next crypto bull run, neither any other country's economic crisis can do that.