Waiting for a new All-time high? Well, in Turkey we are already inching closer to hit a new ATH since 2021, the power/pain of hyperinflation.

I think by now we are all sick of this bear market and are just craving to once again feel that kind of euphoria and excitment that we had in our previous bull run of 2021. Of course we all always say that we need more time to accumulate at lower prices, but let‘s be real we all just want to see All-time highs again and have that feeling of genius investing tactics, while all we did was just sitting back and having patience.

Well, at least somewhere those wishes are about to be fulfilled. In Turkey, BTC is inches close to a new ATH right now. You may ask how, but it is simply due to the sky-high inflation of the Turkish Lira and the incompetence (or corruptness) of the government to do anything against it. Inflation is at 39% right now which is already off a lot from the 85% inflation peak in October 2022.

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Turkey Inflation Chart

Recent high of BTC there was at 834k TRY, while the ATH is sitting at 873k TRY, so it is indeed very close right now.

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BTC/TRY chart, closing in on new ATHs as we speak

So it really seems like only a tiny pump is needed for BTC to make a new ATH in Turkey and that comes after already making regular ATHs in Argentina too. Really seems like nations with hyper-inflation are just experiencing the immense importance of BTC when your government is too corrupt or incompetent to guarantee the sustainability of your own money.