Bitcoin Price Just Hit New All-Time Highs In These Countries

2023-10-27 14:45

A crypto analyst has revealed data depicting the Bitcoin price reaching new highs in several countries experiencing high inflationary pressures. 

Bitcoin Skyrockets In Countries With Inflationary Currencies

According to Crypto Analyst and DeFi enthusiast, Miles Deutscher, the price of Bitcoin has reached new all-time highs in multiple countries including Turkey, Argentina, and Nigeria. 

Deutscher shared the price charts in an X (formerly Twitter) post displaying the price of one Bitcoin against the currency of the countries mentioned above. 

According to the chart, at one point on October 26, a single Bitcoin was equivalent to 12,172,353.50 ARS in Argentina. In Turkey, one Bitcoin was worth 979,017.26 TRY, and in Nigeria, Bitcoin was trading at 28,443,229.20 NGN. 

Presently, the currencies of these countries have been experiencing high inflationary pressures, causing the devaluation of their respective fiat currencies. Data from the International Monetary Fund (IMF) have revealed rankings of these countries’ annual percentage change in inflation rates and end-of-period consumer prices. 

In the data shared, Argentina was valued at 136.7%, Turkey at 64%, and Nigeria at 30.6%. Other countries like Zimbabwe and Venezuela showed some of the highest annual percentage changes of 396.2% and 250% respectively. 

Overall, the price of Bitcoin in most of these countries has become a reliable store of value. Many of these countries including Nigeria and Argentina have been readily adopting cryptocurrencies despite the steady devaluation of their currency. 

Bitcoin Price Continues To Gain Dominance

Between October 23 and 24, Bitcoin has been experiencing price spikes and slight drops following rumors of a Spot Bitcoin ETF approval and the listing of BlackRock’s iShares Bitcoin ETF on Depository Trust and Clearing Corporation (DTCC).

The cryptocurrency has raised the hopes of many investors who are looking forward to a potential long-term bull run. The potential acceptance of Bitcoin ETFs and the upcoming Bitcoin halving event in 2024 are contributing to the widespread optimism surrounding the flagship cryptocurrency. 

During this time, the leading cryptocurrency has seen its dominance over the crypto market continue to grow. Data from TradingView shows that Bitcoin started out the month of October with a 49.78% dominance. However, this figure rose as high as 54.47% in the same month before correcting back down to its current 54.04% level at the time of this writing.

The Bitcoin price is currently sitting at $34,156, depicting a 1.59% loss in the last 24 hours. Nevertheless, Bitcoin is still enjoying 16.62% gains on the weekly chart.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 97046.13 (-0.48%)
Объем 24H $97.5b
Изменеия 24h: 2.84 %, 7d: 8.96 %
Cегодня L: $94006.77 - H: $98156.69
Капитализация $1920.102b Rank 1
Цена в час новости $ 33606.59 (188.77%)

bitcoin countries highs new price analyst inflationary

Источник: bitcoinist.com

bitcoin countries → Результатов: 126


Фото:

Bitcoin vs. Fiat: The Cryptocurrency Outperformed 3 National Currencies in 2018

As many countries in South America, Africa, and Eastern Europe are in the midst of an economic crisis, depreciating national currencies don’t come as a surprise. What did come as a shock was the fact that bitcoin would be the first to challenge the stability of fiat currencies, outperforming three different national currencies in 2018, as research from Pension Partners...The post %%POSTLINK%% appeared first on %%BLOGLINK%%.

2018-9-5 03:00


Фото:

Japan’s FSA Vows to Strike a Balance Between Consumer Protection and Promoting Technological Innovation

Japan is both one of the largest crypto markets in the world and one of the most crypto-friendly countries. However, the Japanese government has been increasingly vigilant on the crypto industry as a whole, an understandable stance after the country was hit with what is touted to be the largest crypto heist in history.

2018-8-28 19:24


Фото:

Maltese Prime Minister Fraudulently Impersonated by Bitcoin Peddlers on Instagram

Malta’s Prime Minister, a noted fan of blockchain and cryptocurrencies, found himself unwittingly in the center of an investment scam as conmen fabricated a fake Instagram account in his name. As Bitcoinist has noted in the past, the tiny island nation of Malta has taken a number of steps in order to become one of the globe’s most welcoming and proactive countries when it comes to cryptocurrency and blockchain tech.

2018-8-27 10:00


Фото:

Coinsquare To Enter European Markets By 2019, Bringing BTC, ETH And XRP With It

The biggest cryptocurrency exchange in Canada, Coinsquare, have announced in a press release that they now plan on entering European markets by Q4 2018, meaning that come 2019, Coinsquare should be readily available across a number of European countries, opening up for the trade of Bitcoin, Bitcoin Cash, Ethereum, Litecoin, XRP, Dogecoin and Dash.

2018-8-24 15:00


Фото:

CryptoOracle Co-Founder: Bitcoin Is Functionally Better Than Gold

“Some Gold Users Will Likely Switch To Bitcoin” Gold is one of the most valuable metals on Earth, with humans finding value in such an element for thousands of years. Over the course of gold’s history, it became a great way for individuals and groups to store value across a variety of settings, countries, and […] The post CryptoOracle Co-Founder: Bitcoin Is Functionally Better Than Gold appeared first on Ethereum World News.

2018-8-19 02:23


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Whales Not Done Buying: Accumulation Strong Even Above $90,000

On-chain data shows the Bitcoin whales have continued to purchase more even at the recent highs, a sign that could be optimistic for the rally. Bitcoin Large Holders Netflow Has Continued To See Positive Spikes Recently According to data from the market intelligence platform IntoTheBlock, the number of BTC whales has recently increased. The on-chain […]

Bitcoin Is About To See A Historically-Profitable Crossover In This Metric

On-chain data shows the Bitcoin Puell Multiple is about to undergo a crossover that has historically been very bullish for BTC’s price. Bitcoin Puell Multiple Could Cross Its 365-Day MA In Near Future As pointed out by an analyst in a CryptoQuant Quicktake post, the Bitcoin Puell Multiple has been approaching its 365-day moving average (MA) recently.

Bitcoin Demand Outweighs Supply As LTH Enter Active Distribution Phase

Bitcoin (BTC) has held steady above the $88,000 mark over the past few days, showcasing resilience as the broader market anticipates its next move. Price action remains robust, leaving investors waiting for lower prices frustrated, as BTC shows no signs of providing an easy entry point anytime soon.

Bitcoin Still Has Room To Rise, Quant Explains Why

A quant has explained how Bitcoin could still have room to rise based on the trend forming in this popular on-chain indicator. Bitcoin Short-Term Holder SOPR May Not Be Overheated Yet In a CryptoQuant Quicktake post, an analyst has discussed the Spent Output Profit Ratio (SOPR) of the Bitcoin short-term holders. The SOPR refers to […]

Is $135,000 Bitcoin’s Current Ceiling? This Model Says So

The CryptoQuant founder has shared a model for Bitcoin that suggests the cryptocurrency’s maximum price could lie around $135,000 right now. Bitcoin Model Established On Realized Cap Could Reveal Price Ceiling & Floor In a new post on X, CryptoQuant founder and CEO Ki Young Ju has discussed about a BTC pricing model that’s based on the Realized Cap.