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Google Searches for Bitcoin Soar in Turkey Due to Collapsing Lira

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Mon, 03/22/2021 - 07:10
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Alex Dovbnya
Turkish people are searching for Bitcoin en masse amid the ongoing currency crisis
Google Searches for Bitcoin Soar in Turkey Due to Collapsing Lira
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Google searches for Bitcoin, the largest cryptocurrency, soared 566 percent in Turkey after the Turkish lira nose-dived 17 percent in just one day, recording its worst drop in almost 20 years.  

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Image by trends.google.com

This came after President Recep Tayyip Erdogan made a controversial decision to remove Naci Agbal, the head of the country's central bank.   

After riding high last week because of an interest rate hike, the lira has since reversed its course, shedding all of its gains in the first quarter. 

Related
Bitcoin’s Volatility Looks Tame in Comparison to Under Pressure Turkish Lira

As reported by U.Today, Turkey has been one of the top-ranking countries by Bitcoin adopting due to its long-lasting currency crisis. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.