As I wrote in my previous article, many people throughout various countries have been researching and investing into Bitcoin and other Cryptos due to the instability of their national currency being unstable and losing value rapidly.
Another case of a national currency rapidly tanking occurred yesterday in Turkey. The Lira dropped 17%, which was the biggest drop in value in the last 20 years.
As shown in the graph above, the amount of Turkish citizens researching Bitcoin skyrocketed, most likely attempting to find better places of investments for their hard-earned money. To put in into perspective, in 2010, 1 USD was equal to 1.5 Lira. Today, 1 USD is equal to 7.9 Lira. This is a MASSIVE dip in value and it seems people are fed up of their Fiat consistently losing value year after year.
Hopefully Bitcoin can be an escape for the citizens of a collapsing national currency. We are all hoping the best for the Turkish people that can be as stable as possible in the turmoil they are experiencing.
