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Here Is How Citizens of Turkey are Warming up to Bitcoin

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In a recent tweet a few days ago, Kim Dotcom had advised all of us to start stocking up on gold and cryptocurrency (eg Bitcoin (BTC)) – for the USD was at the cusp of a serious financial crisis. His advice was interpreted as meaning that we should look for alternative means of storing value as the future of the global fiat currencies looks uncertain. His exact words were as follows:

“Trust me. Buy crypto and gold. Your USD will become worthless. With US economic collapse all old money currencies will crash. Times will get tough. But you’ll be fine if you hedge some of your assets in preparation for the crash. The big crash is coming 100%.”

Turkish Financial Crisis

His words can be applied to the current situation in Turkey as its currency – the Lira – continues to be volatile due to increased political tensions in the country. On August 9th, the Lira dropped in value by a whopping 18% as many economists continued to theorize how its currency would get back to being stable and at a level seen before President Erdogan consolidated his power over the past months by amending the constitution. The US has imposed sanctions on the country thus adding to the financial uncertainty.

Referencing the words of Kim Dotcom, and to the Turkish Lira, it is only natural that the Citizens of Turkey have started researching on alternative ways of hedging against a volatile Lira. It is with such a theory that Twitter user @CobraBitcoin tweeted the following about Bitcoin.Org:

“There’s been a MASSIVE 42% increase in visitors to from Istanbul as the Turkish Lira plummets. This is how Bitcoin takes over the world, not through ETF’s and “HODL”, but through replacing fiat currencies as they fall apart!”

Further investigating the claim, we find that in early August, the traffic to Bitcoin.org from Turkey stood at 11,485 visitors per day. On 14th of August, that number stood at 45,044 indicating a 292% increment in traffic from Turkey to Bitcoin.org.

Bitcoin.org traffic from Turkey. Source, semrush.com

Bitcoin As An Alternative to Fiat

With the increased interest in Bitcoin from the citizens of Turkey, we can see that BTC is an alternative store of value during periods of political turmoil that could lead to the crash of fiat currencies. It is, therefore, safe to also conclude that Bitcoin (BTC) is the Digital Gold of the 21st Century.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Bitcoin

Why Chinese New Year Affects Bitcoin (BTC)

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Bitcoin (BTC) lost about $100 in value in the last week, and, while reasons behind the drop in crypto prices can often be hidden and unclear — this time, that is not the case. The reason for this drop is believed to be the celebration of the Chinese New Year.

The New Year celebration was over more than a month ago for most of the modern world. However, things are a bit different in China. This is a country which is considered to be one of the oldest ones in the world, with a long and complex history. The country’s traditions are fascinating to many around the world, as so many of them are different from western culture. One of these traditions is the Chinese New Year.

The New Year celebrations in China start on January 28th, which was a week ago. The New Year itself is today, February 5th, although the celebrations and festivities are going to last until February 19th. For the people of China, and all those around the world who follow the country’s tradition, this is the time to relax, take a break, and perhaps travel and visit friends and family. But, what does it have to do with Bitcoin?

China and Bitcoin

Those who are new to the world of cryptocurrencies have likely already heard many stories about China banning Bitcoin trading and…

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EO.Finance Launches Highest Paying Crypto Referral Program of 2019

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The EO Referral Program, already touted to be a significant addition to the ecosystem has been launched, and more details can finally be revealed. Offering 30% of transaction fees for each referral, it is expected to be the highest paying crypto referral program of 2019.

 

Each user will receive their own unique invite link, which can be shared with friends or via social media, in order to start earning 30% of the companies fees for every transaction made by someone who registered using their unique link. Furthermore, receive 5% of the fees for each new referral introduced by your own referral, increasing earning potential and adding even more benefits to an already feature-packed ecosystem. The fact the ecosystem supports credit and debit card transactions, as well as more than 40 cryptocurrencies means it will be even easier for you to start earning from your referrals.

 

The EO Referral Program will also extend to EO.Trade following launch, meaning it will be possible to earn from a single referrals transactions across multiple products within the EO ecosystem. It is important to note that the figure of 30% is significantly more than most competitors offer.

 

Payment will be made in the same currency as was purchased or exchanged. Withdrawal of the profits earned via the program can be made instantly, meaning you can earn immediately from your referral.…

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Is Bitcoin (BTC) Ready for Another Surge?

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It is no secret that Bitcoin (BTC) has had a rough 2018. The coin has dropped by over 80% from its all-time high in a matter of months, it experienced two market crashes, a constantly bearish market, and even troubles within its own ecosystem. Crypto investors spent the entire year hoping for a surge that never arrived, and since BTC is the most influential coin within the crypto space, its behavior usually dictates the pace for other coins as well.

Then, the year finally ended, and investors believed they could finally start anew, hoping to see BTC perform better in 2019. While Bitcoin is certainly performing better than in 2018, the current state of things is still far away from a rally. However, there is a possibility that this might change in the future.

Projects that could have sparked the next rally

As mentioned, crypto investors around the world were hoping to see a new price surge with the arrival of the new year. So far, this has not happened, and while there were several events believed to be able to boost BTC value, several complications prevent them from occurring.

One of them is the launch of the Bakkt Bitcoin Futures Exchange, which was scheduled to happen on January 24th. However, due to the long-lasting US government shutdown, the exchange failed…

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