Post
Topic
Board Economics
Re: Turkey’s economic crisis can trigger the next crypto bull run
by
Shitcoins Whale
on 28/08/2018, 18:53:57 UTC
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.

Good point. Bitcoin is now seen as a high risk investment, with some reason by the way if you consider its volatility, which is exactly what Turkish investors do NOT want now. Wall Street is more likely to shoot Bitcoin to the moon than any crises anywhere, since Wall Street is basically a gamble casino.