Turkey’s economic crisis can trigger the next crypto bull run - page 3.

efxtrader

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Quote from: Esqarrouth on August 25, 2018, 07:43:32 PM

https://hackernoon.com/turkeys-economic-crisis-can-trigger-the-next-crypto-bull-run-86e53392d9bc

What do you guys think? Huh

Turkey have their own exchanger and thats indicating crypto already popular in turkey. If turkey crisis, i think it will affecting to others country and maybe will affecting to crypto price. As store of value, bitcoin can be safe haven

strunberg

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Quote from: TheWalkingCoin on August 29, 2018, 01:03:07 AM

I don’t find the connection bitcoin between crisis of turkey, I know crisi economic in Turkey because have problem with American United economic and make their money is have lower price. just economic turkey crisis by problem Donald Trump and don’t have connection with crypto.

although we didnt find any corellation between lira turkey and usa dollar, but indirectly there are some capital flow moved to bitcoin from turkey business or finance firm in order to hedging their fund or asset.

aleksnutis

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Quote from: Esqarrouth on August 25, 2018, 07:43:32 PM

https://hackernoon.com/turkeys-economic-crisis-can-trigger-the-next-crypto-bull-run-86e53392d9bc

What do you guys think? Huh

As a rule, people start to struggle with a problem when it has already happened, such a mindset have a most people. The trend that is occurring in the world with Venezuela and with Turkey will only be the beginning, when people stop saving their savings in local currencies.

eaglewhite80

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Quote from: TheWalkingCoin on August 29, 2018, 01:03:07 AM

I don’t find the connection bitcoin between crisis of turkey, I know crisi economic in Turkey because have problem with American United economic and make their money is have lower price. just economic turkey crisis by problem Donald Trump and don’t have connection with crypto.

Well, the connection could have been a lot of Turkish citizens getting out of their currency to find a safe spot to put their funds without having to face the turmoil from the economic downturn.

It is a normal thing, but we also have to understand that there are also other safe assets they can end up putting their funds and would be more relaxing for them than cryptocurrency since it is highly volatile and in its early age.

Nevertheless, who knows how things might turn out later on? But I personally do not see much happening with respect to this. As it is, people will want to give themselves so many reasons why they should expect a bull run.

Ledy Alise

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Economical crisis in general are like a pulled trigger that impacts the economy. There might be a bigger activity in the currencies because of it. To trigger the next bull? Hmm not sure.

TheWalkingCoin

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I don’t find the connection bitcoin between crisis of turkey, I know crisi economic in Turkey because have problem with American United economic and make their money is have lower price. just economic turkey crisis by problem Donald Trump and don’t have connection with crypto.

Aramazdi

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Quote from: vlad230 on August 27, 2018, 09:17:20 AM

I'm not sure the bull run is likely to happen.

The previous price hikes were mainly determined by larger economies like Japan & South Korea where the purchasing power is way higher than what it is in Turkey.

On the other hand, I remember visiting the Bazar and seeing a shop where you could buy crypto currencies so, the Turkish people may be more familiar with crypto currencies than some would expect.

it looks like the Turkish economy is also big but Turks are not used to the crypto currency currency, and we can be sure they don't buy a lot of bitcoin for their money, unlike Korea or Japan, even though their economy competes with Turkey but they already know bitcoin and have used it to buy and selling the facilities of so many people who buy bitcoin and their existence is more decisive in price increases than in the Turkish state.

DevelopmentBank

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Quote from: Esqarrouth on August 25, 2018, 07:43:32 PM

https://hackernoon.com/turkeys-economic-crisis-can-trigger-the-next-crypto-bull-run-86e53392d9bc

What do you guys think? Huh

Are you from Turkey? Whats so special about this incident in Turkey compared with incidents in other countries around the world?

Just take a look at Zimbabwe or Sudan or other countries that have experienced crisis, they have gone through all those and have had very little effect on the price of bitcoin. If anything, this will temporarily strengthen the buying pressure on Turkey-based crypto exchanges, but on the bigger scale, i doubt this will have a very big effect on bitcoin value.

Ilegendph

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Well, it can make the price a little bit higher but I doubt that it will cause a bull run. We need something that will attract investors to see a bull run and economic status of turkey is not that much. I also doubt that they will use bitcoin since its too dangerous to put their money their. I think gold and other flat currency would be a better option.

coldplay3r30

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Quote from: CanErik on August 26, 2018, 01:32:24 PM

Hi;

As being Turkish citizen I am not buying more crypto assets. Especially I prefer to keep my fiat in € and $ currencies instead of crypto money for risk diversification. I don't think this current situation going to be trig another bull run but this crisis going to be deeper for sure.

Kind regards

Indeed, the Turkish community is not yet familiar with crypto currency, so to keep their money in the bitcoin currency is still very little, so there is no significant effect on increasing the price of bitcoin, a big jump that I think comes from China because they compete in trade with America, China wants replace the dollar with other currencies to reduce pressure from the American side, and crypto currency has the potential to be used by China to replace the dollar, and if this happens, it can be ascertained that there will be very high. price hikes.

vit05

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The word that many are putting aside is the trigger. This is the context of the central idea of the text. We need only an entire population of a country to find more security in buying and trading using Bitcoin than their local currency. This would represent the defeat of current banking models and could trigger a series of changes around the Globe.

Turkey is a country of great economic importance. But it may even be smaller countries like some African or Latin America. What it takes to trigger the reaction and adoption of Bitcoin globally is a spark in a haystack.

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Quote from: danherbias07 on August 28, 2018, 02:45:41 PM

Question after all the reading. How will they buy bitcoin?

They will be using their own currency which have a lot of issues now and probably most exchange or wallet websites knows it by now and will be disabling the buying method using their currency since it may decrease more.

the currency (Turkish Lira) has no problems, it is just losing its value as their economy collapses. but it still is a currency and has value, a lower one now.
people can still use it to buy anything, and they usually do it peer to peer and off the markets during times like this that tensions are high and the government watches everything.

JostikSSS

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Bitcoin is not bought only in one country such as Turkey, it is around the world and to provoke the collapse of the fall of the economy of one country is not enough. There is already a crisis in Venezuela, bans in India, unwillingness to recognize bitcoins in many countries of Europe and the world , but it still does not pull it down.
In the future, its price will only increase, blockchain technology will grow and be in demand in everyday life, this can not be avoided and a new wave of growth will prove it despite not what crises in the world.

Harlot

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Did a bull run happen when the Venezuelan Bolivar is losing value? Of course not, not all people are aware that it is bad when its currency is losing its value, so the possibility is small when it comes to exchanging their fiat to cryptocurrencies such as Bitcoin. There is a slim chance that all people in turkey will abandon their own currency to go to Bitcoin, plus even that scenario is bad as it will devalue the Turkish Lira more due to a massive sell off if that scenario happens, don't listen to this article as they don't know the consequences of their "Solution".

Shitcoins Whale

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Quote from: hatshepsut93 on August 25, 2018, 11:45:34 PM

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.

danherbias07

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Question after all the reading. How will they buy bitcoin?

They will be using their own currency which have a lot of issues now and probably most exchange or wallet websites knows it by now and will be disabling the buying method using their currency since it may decrease more.

With that they have to look for another option. Gold will be most likely since USD is also being prohibited to be bought.

I would rather buy some valuable item that might be useful after that inflation, if I am to pick.

Conclusion. Even if they start buying bitcoins it will still not shake it much for I believe there are not much users in their midst.

markj113

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Quote from: r32godzilla on August 28, 2018, 01:19:27 PM

But turkey's economic crisis has almost been stopped by Qatar's funding in billions of dollars.

Like QE fixed all the West's financial problems.

Have you heard recently that Greeces financial issues are also now resolved.

Just lol.

r32godzilla

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But turkey's economic crisis has almost been stopped by Qatar's funding in billions of dollars.

jseverson

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Quote from: Esqarrouth on August 27, 2018, 12:14:26 PM

Or maybe stablecoins?

Maybe. Why go through extra hoops and pay extra fees when you can just go for stable foreign currency though? As far as precedents go, foreign currencies take the cake over stablecoins when local economies go south. Heck, Bitcoin is far more popular than them. We'll see soon enough at this rate though.

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Quote from: Esqarrouth on August 25, 2018, 07:43:32 PM

https://hackernoon.com/turkeys-economic-crisis-can-trigger-the-next-crypto-bull-run-86e53392d9bc

What do you guys think? Huh

Its sad to see what happened in turkey. Economic crisis can trigger crypto bull because people will looking safe haven asset and i think crypto like bitcoin is one of safen haven asset

Topic: Turkey’s economic crisis can trigger the next crypto bull run - page 3. (Read 810 times)