Back

Turkish Lira Rebounds After Wild Week Causing Bitcoin Trading Volume to Drop

  • The Turkish Lira is finally showing signs of the recovery, gaining more than 32% against the BTC price. It has also experienced a pronounced 2.5% surge

Cover image via U.Today

The Turkish Lira, after witnessing a major blow-off last week, is finally showing signs of recovery, gaining more than 32 percent against the BTC price. It has also experienced a pronounced 2.5 percent surge in the middle of a trade war with President Trump.

The Lira reignited interest in the run-up to a highly anticipated conference between the country’s finance minister and investors from all over the globe. Before that, the beleaguered currency gained traction after the $15 bln Qatar loan that was received by Turkey for developing the country’s banking sector.
 

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.

Recommended articles
Bloomberg's Analyst: 'We Expect Bitcoin Price to Continue Appreciating'

Bloomberg's Analyst: 'We Expect Bitcoin Price to Continue Appreciating'

China’s Bitcoin Mining Hegemony Now Threatened by Other Regions: Data

China’s Bitcoin Mining Hegemony Now Threatened by Other Regions: Data

Bitcoin Proves Much Stronger Hedge in Pandemic Crisis Than Gold or Stocks: Chart Says

Bitcoin Proves Much Stronger Hedge in Pandemic Crisis Than Gold or Stocks: Chart Says