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

[tepakpak]

With the economic crisis they are experiencing now maybe they will run to this crypto, they see the benefits of crypto. That could happen in the near future. May be!

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[rickyrich45]

Turkey has the potential not enough to start the bull run in the crypto-currency market. maybe it's a factor, but I do not think you're going to play a big part.

[cesuralp32]

These words seem to me very ambitious. Turkey is now experiencing economic crisis, but in this case is that enough to start the bull running, I'm not sure.

[BitHodler]

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.

The Petro isn't there to help regular people, but purely to help the Maduro cartel to obtain and maintain more financial control than ever before. I'm glad that no exchange has listed this rubbish.

By going crypto Maduro made sure that his assets (which in reality aren't his assets at all) can't be frozen anymore as result of sanctions and whatnot. It's a calculated step ensuring his position for at least a couple of more years.

Regarding Turkey, once the mainstream media hype has lost its effectiveness, people here will automatically stop thinking that Turkey has any sort of impact on the crypto market.

[mutlumining]

I don't think economic crisis can trigger bull run. Only media can trigger it.

[frankiemalton]

But these are exceptions. In all other sectors of the Turkish economy, the collapse of the lira by 40 percent since the beginning of the year has stirred up fear.

[Kevin77]

Turkey itself is in a economic crisis, considering crisis effects the people first that means there won't be many people who have saved up money somewhere that will turn it into bitcoins for investment. They will first spend it on regular things they will need and that will result with not much left in their accounts.

Bitcoin has over 8-9 billion in daily averages, do you really believe that turkey can even remotely come close to 1-2 billion bull movement during a big crisis ?

I understand thinking and dreaming are very close things however an economically crippled countries people to spend 1-2 billion daily on bitcoin investment is not "just a thought", it is just plain ignorance.

[arsenti]

Turkey might be too small to trigger another bull run but Turkey is just one country in financial turmoil and there is more to come.

Many experts see a high degree of probability that after a 10 year bull run on the stock market, it is time for a collapse. Also due to the fact that this has been a phony recovery enabled mainly through government bailouts, massive depths and money printing we have never seen in history before. And even if there is no stock market crash, many European countries like Italy, Spain or Greece are facing similar issues regarding their budgets. One collapse could lead to another and there we have it, the next financial crisis.

This time many governments will not be able to save the failing businesses or banks due to their massive depths which are partly a consequence of previous bailouts, government bonds and quantitative easing.

It is just a logical result after years of quantitative easing (money printing) in combination with creating record high depths that we have never seen before, especially in the US but also many other countries.

Do also some research on the Great Depression and you will find striking similarities to where we are now. Artificially low interest rates for years, inflated stock market and a recently started trade

Financial institutions are aware of these risk and look for alternative asset classes in case the stock market collapses and we head into a bear market and financial collapse.Therefore they are pressuring the SEC to approve an ETF.

At the same time we are nearing the bottom at this point (around 200 Billion Marketcap) and slowly certain Institutions will go long again which will relief the price pressure, also supported by "real liquidity" flowing into the market, increased volumes as more retailers will accept alternative payments. Soon you will be able to buy your Starbucks coffee with Bitcoin.

There are also many other data points that indicate we will soon see another bull run, we already explained that it is likely that it will be possible to buy ETFs (Exchange Traded Funds) and this would mean a real flow of liquidity into the markets. There were previous filings but the SEC rejected those in the past.

They will not be able to continue to say no for much longer. Pressure from all directions, especially leading financial organisations.

[mindrust]

The situation is not going to be better for the next 10 years probably. Our currency devalued almost %100 in a few months and this is not just against USD but almost against every FIAT currency there is.

An instability in Turkey would trigger the next world war. That's how serious it is. Venezuela is in somewhere far away. So is Argentina. Turkey is just next to Europe. EU couldn't even handle a couple million Syrians. What would happen if ten million Turks decide to leave the country?

War.

USA is abusing this country since 1950's. I can't blame them for being assholes. Since they try to do the same thing to Russia and Iran too but somehow they failed it since those dudes appear to be smarter than the Turks. This is evolution. Survival of the fittest. Kill or get killed.

What I can do now is;

I can either buy physical USD & Gold (preferably) which I probably won't be able to use in the future if the situation gets worse as it happened in Venezuela & Iran or,
I can buy bitcoin and freely travel my wealth with me since it has no physical mass like papers or stones which is a huge advantage but It also comes with its own risks. (remember this shit is still in beta and we are its beta testers)

I've witnessed the evolution of Bitcoin since 2013 to today, I've decided to convert all of my monthly income into Bitcoin since March. I hope I will be able to find a hole to hide my ass when the shit hits the fan.

This doesn't look good. Not one bit.

[arsenti]

The situation is not going to be better for the next 10 years probably. Our currency devalued almost %100 in a few months and this is not just against USD but almost against every FIAT currency there is.

An instability in Turkey would trigger the next world war. That's how serious it is. Venezuela is in somewhere far away. So is Argentina. Turkey is just next to Europe. EU couldn't even handle a couple million Syrians. What would happen if ten million Turks decide to leave the country?

War.

USA is abusing this country since 1950's. I can't blame them for being assholes. Since they try to do the same thing to Russia and Iran too but somehow they failed it since those dudes appear to be smarter than the Turks. This is evolution. Survival of the fittest. Kill or get killed.

What I can do now is;

I can either buy physical USD & Gold (preferably) which I probably won't be able to use in the future if the situation gets worse as it happened in Venezuela & Iran or,
I can buy bitcoin and freely travel my wealth with me since it has no physical mass like papers or stones which is a huge advantage but It also comes with its own risks. (remember this shit is still in beta and we are its beta testers)

I've witnessed the evolution of Bitcoin since 2013 to today, I've decided to convert all of my monthly income into Bitcoin since March. I hope I will be able to find a hole to hide my ass when the shit hits the fan.

This doesn't look good. Not one bit.

This sounds very concerning. I hope it will not get that far. At least you are into Crypto and were prepared, it was a good move to convert everything into Bitcoin since March so you did not loose 100% of the value. The adoption of Bitcoin in Turkey is exponentially increasing based what I hear, at least compared to other regions and probably because many others are following a similar path.

I am not sure what the Americans have to do with the devaluation of the Lira though. I agree the region would have been doing better without their interference. The weakness of the currency I believe is rather rooted in Erdogans money policy, which is similar to the American one of money printing and endless depth. I see many parallels at least. Do you see other reasons for the collapse?

[Gabali126]

There is no real evidence to support this claim. having economic crisis will not really force people to start adopting cryptocurrency. Turkey's economy is not tied to cryptocurrency in any way.

[Sled]

This is why we should always be putting money in the cryptocurrency and we should invest regularly in cryptocurrency because this is the next big thing and if there will be a crisis in the world like a financial crisis again then it will boost the progress of the cryptocurrencies to increase their prices to the highest potential and only the old investors will enjoy the benefits.

[TheClownSong]

I am agree that turkey crisis can trigger next crypto bull. If turkey crisis, it will impact to others country and peoples will looking safe haven asset like gold or silver. But right now, bitcoin can be safe haven asset because bitcoin price always rising, thats why bitcoin called store of value

[mindrust]

I am not sure what the Americans have to do with the devaluation of the Lira though. I agree the region would have been doing better without their interference. The weakness of the currency I believe is rather rooted in Erdogans money policy, which is similar to the American one of money printing and endless depth. I see many parallels at least. Do you see other reasons for the collapse?

USA planted Erdogan on Turkey in 2002. Dude went to Murica without even a title just before the elections. What does that tell you?

Turkey's history is filled with US backed coups since 1950's. If you read some history you would see it. One of them happened in the very near past in 2016.

And I already told you. I am not blaming them for our stupidity but Muricans indeed have something to do with our situation. I would do the same If I were an American, why not? That's evolution.

[St4yInTh3D4rk]

To be honest the economical crisis were man made,it was created by some group of people who is controlling the world's economy but if people understand that no one can influence the bitcoin and its value then there will be huge price increase with the bitcoin.

[Husecomang]

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!

I think that it is still very early to say anything about it. In fact crypto currencies are still very new and even in developed countries very little people have good knowledge about crypto currencies, therefore I think that it is still very early to say that bitcoin will control the economic condition of a country.

[sempak bulong]

Maybe this will indeed trigger the Turkish community to plant their assets in the cryptocurrency world, because crypto supports long-term success. Maybe in the following years we will see it.

[Watukali]

is that possible I do not think so

[quichiship]

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.

Although I do not have enough knowledge about turkey economic condition but I think that still in turkey the bitcoin users may not be too much who which can boost the bitcoin price. I hope that I their government will take some decision about it then it may be possible.

[feelivent]

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.

How did you know there are some capital flow into bitcoin from turkey business and finance firm? Where did you get that information from? From what I can see so far, the only thing I would be able to guess if I am a financial firm in turkey is to make use of what has been used over the years. It is a whole lot risk to take if putting money in the crypto world, as people obviously has not understood the importance yet. Sure, it would have been a good thing, but for the fact that it is a volatile market and you would not want to jump from frying pan into fire, that would make it a bit hard. There would be some other country's fiat currencies as well; some might want to hedge their funds.