Quote from: UmerIdrees on Today at 03:34:46 PM

Quote from: hatshepsut93 on Today at 02:24:38 PM

Also, your stupid Cointelegraph said that Turkish Lira has dropped in value recently, but in fact it made a huge comeback as it went from $0.06 to $0.094

Even if Turkish Lira drop in value this will have not have any effect on bitcoin price. The only thing which can determine the price of bitcoin is the dollar value.

The value of dollar is increasing from May 2021, and that's one of the reason we are having a selling pressure on bitcoin.

Currency index isn't the complete picture, because even USD is having too much trouble with inflation and I'm not very confident the projections are accurate either in terms of how long it'll last. Easily could go into 2023, and economic projections for GDP growth are being slashed. Keep in mind, the US economy was supposed to have unusually high GDP growth compared to previous years because the pandemic in 2020 caused low economic growth. So mediocre growth would be pretty devastating, and that's what we've seen.

Inflation rate is the only thing that matters, converting your currency into another highly inflating currency is abandoning a sinking ship for another.