Bitcoin Forum

According to the news currencies of india, argentinia, turkey, south africa and russia are crashing.

I don't see any effect on bitcoin prices. Did I oversee something?

Most of the emerging markets have seen a big fall in money flowing into them in the last 6-8 months.  It's currently catching up with their currencies.  What effect will this have on Bitcoin?  For those that can, they will want to convert as much as their own fiat into BTC to protect the value.  The problem with this of course is most of the above listed countries highly restrict that.

I don't think cryptocurrency is something you buy in a panic right now, the perception of bitcoin as a safe haven is not there, even among enthusiasts.

Despite that, the ability to buy any currency has improved recently in Argentina (rules relaxed, but they were widely ignored anyway), and there's clearly popular support there. I bet a few brave individuals will be buying BTC in Argentina, but dollars are going to look more attractive in the short term.

South Africa is surprisingly muted, it's a reasonably developed country, and they've certainly got a pervasive mobile phone network. Yet poorer India looks like it's more enthusiastic about bitcoin, and that's in the face of a tough political climate for cryptocurrency (and hard money in general).

Turkey's been quiet in media terms, but there's been alot of noise in the media otherwise in Turkey, and this is big game stuff. So it's highly significant in my mind that there's even a few merchants marked on Coinmap.org. The ATMs (yes, apparently there's more than one) at Istanbul international airport is unprecedented, that's gotta have been approved at a high level of government and the military, which is interesting when you consider the military and the government aren't said to be on good terms right now.

Russia's market is probably pretty already as developed as it could be, there's a fair amount of awareness and usage already in Russia. Can't see a big Russia driven rally somehow.