Re: Against the British pound, Bitcoin trade volume shoots up!!
⭐ Merited by LoyceV (4)
That's the crazy part: even gold is dropping in value. All economic common sense seems to be gone, while the inflation is higher than ever. Inflation is like a tax, but it's less visible. It makes people think they get more money, while their purchasing power doesn't go up (or even goes down).
I still think recession is the key reason here making all the difference but I've been thinking about this some more and maybe it's also because people were caught by surprise so they didn't know what to do specially since a lot of crisis happened all at the same time with the Russia/Ukraine thing (food and energy). And I know you guys aren't used to high having inflation rates so it is understandable for majority of people to have no experience in similar situations (they had never planned for it either).
Inflation is such a normal thing here which has made majority of Iranians into hardcore investors. From gold (specially coins) to real estate and stock market.
Fun fact, for the past months things are not-normal ever since inflation rate went down and then the exchange rate of Rial went up by about 20%
