{"id":8078,"date":"2018-08-18T00:00:00","date_gmt":"2018-08-18T00:00:00","guid":{"rendered":"https:\/\/crypto-economy.com\/2018\/08\/18\/bitcoin-deemed-as-more-stable-than-turkish-lira\/"},"modified":"2018-08-18T00:00:00","modified_gmt":"2018-08-18T00:00:00","slug":"bitcoin-deemed-as-more-stable-than-turkish-lira","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/bitcoin-deemed-as-more-stable-than-turkish-lira\/","title":{"rendered":"Bitcoin deemed as more stable than Turkish Lira"},"content":{"rendered":"
Since September 2017, Turkey\u2019s local currency \u2013 the <\/span>Lira<\/span> \u2013 has been frequently performing on red numbers, due to an <\/span>unsustainable crisis that has caused a 40% loss of its value against the US Dolla<\/strong><\/span>r<\/strong> \u2013 from $ 0.3 USD to $ 0.15 USD.<\/span><\/p>\n And with the surge on transactions volume of Bitcoin<\/a> <\/strong>on Koinim \u2013 Turkey\u2019s largest cryptocurrency exchange \u2013 BTCTurk and Paribu (around 63%, 35% and 100%, respectively), several news medias have been comparing both currencies in terms of volatility, but with special focus on Satoshi\u2019s coin and its stability.<\/span><\/p>\n According to analysts, this trend could keep going on should the economic situation in Turkey fails to reach stabilization<\/strong>, as per a report published by Bloomberg<\/a><\/strong>, in which full scope of the Turkish currency devaluation this year is revealed.<\/span><\/p>\n \u201cThe 10-day swings in the lira relative to the U.S. dollar now exceed those for Bitcoin amid Turkey\u2019s escalating currency crisis,\u201d<\/span><\/em> the news agency informed.<\/span><\/p>\n A notable fact of said document indicates that the country\u2019s Banking Regulation and Supervision Agency stepped in on this Monday <\/span>\u201cto limit swap transactions on the battered currency,\u201d<\/span><\/em> following a plummeting of 13% in the same day,<\/span><\/p>\n It is worth recalling that last Friday, the President of the United States Donald Trump, <\/span>announced he will double the taxes over aluminum and steel<\/span><\/strong>, which \u2013 according to several news outlets \u2013accelerated the expected devaluation on Turkey.<\/span><\/p>\n