Interest in bitcoin is growing in Turkey amid falling lira exchange rate.
The Turkish lira fell more than 14% against the US dollar after the dismissal of the head of the Central Bank, Naji Agbal. This official is known for being able to normalize the national currency rate by raising interest rates and curbing inflation.
His dismissal came as a surprise to many, and the market immediately reacted to the fall in the national currency. As a result, Turkey's interest has sharply increased not only in precious metals as a form of capital preservation, but also in bitcoin.
According to the Google Trends service, on March 22, the number of search queries related to BTC increased sharply in the Turkish segment of the Internet. The price of bitcoin on the trading floors approached $ 100,000 (752,400 lira). The number of those interested in cryptocurrency in Turkey significantly exceeds the activity of Internet users from this country in 2017-2018, that is, during the first run of bitcoin.
This trend could force the country's authorities to accelerate the implementation of crypto regulation. Back in early March, the Turkish Ministry of Finance announced that it would work together with the Central Bank to create a regulatory framework that would legalize transactions with digital assets.