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Bitcoin hits $49K as BTC price gets unlikely boost from Erdoğan’s Turkish lira tinkering
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Bitcoin (BTC) rebounded over 5% on Dec. 21 as a dramatic turnaround in the fortunes of the Turkish lira boosted investors’ confidence.
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD bouncing overnight as the lira shot up as much as 40% against the United States dollar.
The move came as Turkey’s president, Recep Tayyip Erdoğan, announced sweeping measures to protect consumers and attract lira investors. USD/TRY had previously hit all-time highs of near 19, half of which had occurred in the last two months.
In an ironic twist, Erdoğan himself had come out against cryptocurrency in September, declaring Turkey to be “at war” with the industry.
The switch-up fuelled Bitcoin and altcoins alike, with 5% gains mirrored across the
Read more on cointelegraph.comAbout this in other media
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