The Impact of Fiat Currency Woes and Inflation on Bitcoin Prices
Thursday, 7 March 2024, 12:00
The Lira's Decline and Bitcoin Adoption
Turkish inflation rose to a staggering 67.07% in January, leading to increased interest in Bitcoin as a hedge against the devaluing Lira. The launch of a Turkish Lira trading platform by OKX further boosted crypto adoption in the region.
Protecting the Local Currency in South Korea
The South Korean government's restrictions on forex flows into the crypto market have resulted in the Kimchi premium, indicating strong local demand for Bitcoin despite global price fluctuations.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.