Turkey’s economic crisis can trigger the next crypto bull run

[TheWalkingCoin]

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.

[Ledy Alise]

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.

[eaglewhite80]

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.

[aleksnutis]

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

What do you guys think? 

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.

[strunberg]

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.

[efxtrader]

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

What do you guys think? 

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

[calya]

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

What do you guys think? 

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

if their turkey citizen buy bitcoin before crisis, maybe right now they are safe from economic crisis.their bitcoin asset are more valuable than lira turkey after this condition.

[mutrang23]

Economic crises are taking place in many countries around the world, and many significant nations are being affected, and they have put financial pressure on the EU and the US. I think it is possible that many countries will choose Crypto as a commercial solution.

[hometester]

maybe she will become one of the countries who will inspire in a bull market, but it is unlikely the underlying cause

[Qeupe]

Well, I think the impact will be huge if Turkey really experiences a crisis, this is the same as the crisis experienced by Venezuela. Reportedly now Venezuela is looking to launch a CentralBank for its cryptocurrencies, this solution is used to support its economy which is in crisis. If Turkey also uses this method to get through the crisis period, a big surge can occur in the market.

[BartS]

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

What do you guys think? 

The country of Turkey is too small in economic terms to trigger the next cryptocurrencies bull run, if the crisis is big enough in Turkey it is is entirely possible that we are going to see something similar to what is happening in Venezuela, in which people are using cryptocurrencies to avoid the inflation caused by printing too much currency, the only way we're going to get a bull run out of the economic crisis of a single country is if that happened in the United States.

[Bonsaiav]

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

What do you guys think? 

Fundamentally the current Turkish economic management is arguably less healthy if we look at the worsening of the twin deficits (fiscal and current account). Means it's time for Turkey to need foreign funds to finance the deficit.

Previously bitcoin had almost grown in Turkey, but things changed after their government issued a strong statement that bitcoin's illegitimate. As a result of the existence of tightening and the ban on the use of digital currency a number of investors and traders in this country preferring to throw bitcoin which they already have. For most bitcoin users, this thing is of course will cause concern that this digital currency is increasingly difficult to use as a payment instrument.

[ganlianshifu1]

Many countries in the world have similar economic crisis situations, but the market for cryptocurrencies is still very low!
Venezuela is the country with the most cryptocurrency use, or can't get rid of the economic crisis, the cryptocurrency is still very low!

[kominfo.id]

yes maybe you should be able to take advantage of the movement to be able to get a lot of profit because with that movement you can get a lot of profits.

[Aiko23]

I think the crisis in Turkey does not make Crypto a bull run, in terms of panic to hold other investments than Lira, I think USD or gold is the best choice compared to Crypto because it is more stable. currently lira is trading at a low point in historic, 7 lira / USD

[KoAuTagataPasifika]

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

What do you guys think?  

Heck no, not when the Qatari's are bailing them out.  In Geopolitical terms, Qatar is being isolated and blockaded by it's neighbors , so they're trying to build up any alliances they can get elsewhere.  Personally I believe the only thing holding back the other Arab nations from completely shutting out the Qatari's is CENTCOM. 

[kaisa]

I think the economic crisis in Turkey will not have a big impact on crypto money, but nowadays many Turkish people start accessing bitcoin.org and they learn that. you can find it on google trends. and we see in some forums, Turkish people are active and more Turkish members. however, to invest their money in crypto I was still in doubt, how could they do that. bull run will occur when many investors believe in this technology.

[Maestro75]

Turkey's economic crisis, like venezuela's, might be traced back to overprinting of fiat currency.

Even the Petro crypto has not helped Venezuela out of her woes. Her citizens are leaving in large numbers to neighbouring countries for better economy.

If accurate, it could mean that every major nation on earth will experience this form of economic crisis inevitably as the united states, european union and major nations are all overprinting increasingly large sums of fiat in an effort to stave off deficit and debt.

Zimbabwe is another case to mention here and how her currency has gone under and weak due to over printing. The country's past dictator and president, Robert Mugabe lost control of the economy. May be the new president can do better. Time will tell.

Sorry to say the sky is blue and water is wet but this does appear to be a somewhat neglected issue.

This is true.

[engrawaz]

I don't think so because Turkey's volume is negligible comparing it to the total volume.
And I don't think they have a good public knowledge on crypto, But if they started to dig into it and decided to use crypto to hedge against their crisis, then they might have some effect to start the next bull market.

[timerland]

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

What do you guys think? 

Turkey does have a huge economic problem when it comes to inflation right now.

And don't get me wrong, I do think that Turkish citizens are going to be seriously looking into bitcoin as an alternative in terms of hedging against their Lira's inflation in order to preserve their wealth in something that is outside of their country's economy. But I simply don't see the justification for an entire bull market just because of this.

The excess demand generated from this is negligible, and probably is over hyped by the media. Bitcoin definitely can help these Turks, though, for sure.