Turkey is of the most investors in crypto World. While we have been struggling with hyperinflation lately, there was a big improvement yesterday...
After Speech of President Erdogan, Turkish Lira gained around 30% against the greenback but it is still down more than 50% against the dollar year to date.
Government will step in and make up losses to lira deposits if their value against hard currencies falls beyond the interest rates set by banks..
So, All crypto currencies down yesterday against Turkish Lira...
I think It may be great time to enter new investors to crypto World for Turkish people.
I had some Turkish Lira in my asset but I couldnt put them into crypto to due high USDT/TRY pair... I have a chance to put them into crypto...
Bitcoin down more than 30% against Turkish Lira.. I can buy more Bitcoin than before...
Hyperinflation will be problem in some countries future.. To avoid this problem, investors who see the example of Turkey can already invest in crypto assets. Bitcoin could prove to be a hedge against inflation!
I think that the developments in the Turkish Lira yesterday will have an impact on the Crypto World.
We will see..