Bitcoin and Turkish Lira

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On Wednesday, April 14, the bitcoin rate rose to $ 64,854. Cryptocurrencies rose in price ahead of the start of trading in Coinbase shares on the Nasdaq exchange.

Nasdaq has set Coinbase's reference price at $ 250.
The opening price was $ 381. During the first minutes, the COIN rate rose to $ 429.54. The capitalization of the exchange exceeded $ 100 billion. The current price is $ 322.75. The IPO of the exchange faded into the background.

Bitcoin slowed down earlier than others, as they began to buy alts for it. Ether renewed its all-time high on April 16, moving it by $ 2,548 amid the Berlin hard fork. Also, the rally was observed for such alts as Ripple, Litecoin, Dogecoin, etc.

Today the US dollar has dropped quite well against its competitors. The cryptocurrency also followed him southward. Bitcoin returned to the level of $ 60 thousand (-5.95%), ether - by 9.8%, to $ 2300. The trigger was Turkey, which announced a ban on payments in cryptocurrency from April 30.

The Turkish lira has recently weakened strongly against the US dollar (since February 16, 2021 by 22.5%) and for the Turks, the cryptocurrency has acted as a protective asset against inflation. To regain confidence in the lira, the authorities decided to ban cryptocurrency transactions.

Bitcoin rebounded 50% from the fall from $ 63,800 to $ 60,000, Ether - 50% from the fall from $ 2548 to $ 2300. I believe that we will hang at this level for now. If after the current rebound the pressure starts to build up, then by the end of the week we should expect a new strait. LTC feels great. It is too early for the ether to stop.

Posted Using LeoFinance Beta



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