The military coup in Turkey led to the collapse of the currency led to run a large number of people to panic, bitcoin hedge
In July 16th, Turkey has sixth military coup. Who knows the coup attempt, lira (Turkey currency) exchange rate fell, the people of Turkey are racing to the bank and ATM crazy money, lead to a run on the currency collapse frenzy.
As usual, bitcoin enthusiasts believe that Turkey people should buy bitcoin to hedge, to ensure their financial value. The military coup brought the panic caused a sharp drop in the value of the lira. Turkey folk turbulent time, part of the media such as SeekingAlpha – bitcoin financial hedging a whoop and a holler.
SeekingAlpha reporter sikaote Zi (ScottTzu) said?:
It was 10 years ago, I would recommend gold. Today, bitcoin has become a new choice of hedging.
Since the coup, the Internet is flooded with bank and ATM queues of photos. Turkey banks in order to quell the storm commitment to provide unlimited liquidity. The Prime Minister of Turkey said that the overall national economic situation is relatively stable. The authorities in Turkey to ease the mood of investors, they told the coup will not affect the national economy.
However, from the reports and charts analysis results show that the coup indeed will affect the economy of Turkey.
When a country faces economic meltdown, the domestic bitcoin acceptance will be greatly improved, whether before Greece and Venezuela, or the recent British retreat European crisis without exception.
It seems that Turkey people are also aware of this point. From the BraveNewCoin table, Turkey bitcoin market trading volume rose.
Although the coup has ended, the rebels have captured, but the people of Turkey are likely to continue to buy encryption currency, to prevent recurrence of similar incidents.
Bitcoin users are not affected by a military coup, or government intervention in the banking crisis. Bitcoin released in the beginning of operation condition, market transaction has never been interrupted. Bitcoin is a P2P, go to the center of the open source assets. There is no doubt that it is the best form of currency.
As the mainstream of economic problems, the characteristics of bitcoin and hedge from regulators will be more and more people are familiar with.