Insights

Turkish Lira implodes, as Bitcoin and dollar appreciate against it

exchange68September 13, 2024

0 0 1 minute read

Quick Take

The Turkish Lira continues to collapse against the dollar (23.5) lira to a dollar.
Roughly ten years ago, it was one lira to one dollar.
The Turkish Lira experienced a 6% plus depreciation, according to Mohamed A. El-Eria, dwindling international reserves.
In the past five days, the USD is up 12%, while Bitcoin is up 7%, even with Bitcoin down 8% in USD terms this past month.

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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