{"id":383592,"date":"2021-12-20T14:08:39","date_gmt":"2021-12-20T11:08:39","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-wobbles-below-46k-as-1-btc-passes-800k-turkish-lira-for-the-first-time\/"},"modified":"2021-12-20T14:08:39","modified_gmt":"2021-12-20T11:08:39","slug":"bitcoin-wobbles-below-46k-as-1-btc-passes-800k-turkish-lira-for-the-first-time","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-wobbles-below-46k-as-1-btc-passes-800k-turkish-lira-for-the-first-time\/","title":{"rendered":"# Bitcoin wobbles below $46K as 1 BTC passes 800K Turkish lira for the first time"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a40fc51e8517\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a40fc51e8517\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-wobbles-below-46k-as-1-btc-passes-800k-turkish-lira-for-the-first-time\/#Analyst_Brace_for_volatile_end_to_2021\" >Analyst: Brace for volatile end to 2021<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-wobbles-below-46k-as-1-btc-passes-800k-turkish-lira-for-the-first-time\/#Max_pain_for_Turkish_lira_holders\" >Max pain for Turkish lira holders<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin wobbles below $46K as 1 BTC passes 800K Turkish lira for the first time <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) fell over 5% from local highs through Dec. 20 as macro tensions persisted into the new week.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-12\/b9695c76-484e-407b-98eb-195a2b53e27b.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Analyst_Brace_for_volatile_end_to_2021\"><\/span>Analyst: Brace for volatile end to 2021<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/?exchange=BITSTAMP\">TradingView<\/a>\u00a0tracked BTC\/USD as it fell back below $46,000 overnight on Sunday, reaching lows of $45,787 on Bitstamp.<\/p>\n<p>The pair had hit $48,300 before a reversal took hold as Asian stocks opened the week on a limp note thanks to the coronavirus.<\/p>\n<p>\u201cThe U.S. stock markets will be having a pretty bad day when it comes to today. Also, the European stock markets will be opening with red numbers,\u201d Cointelegraph contributor Micha\u00ebl van de Poppe warned in his latest <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=PeKXdtoDOys\">YouTube update<\/a>.<\/p>\n<blockquote><p>\u201cWe are actually making ourselves ready for some heavy volatility in the last few weeks of this year.\u201d<\/p><\/blockquote>\n<p>Like others, van de Poppe highlighted strength in the United States dollar providing extra friction for risk assets such as Bitcoin. With the U.S. dollar currency index (DXY) facing resistance, Bitcoin is battling to maintain support in a classic inversely correlated move.<\/p>\n<p>\u201cWhat you want to see in a reversal structure is something like we have been seeing in September as well,\u201d he continued, referencing the $40,000 breakout at the end of that month.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Max_pain_for_Turkish_lira_holders\"><\/span>Max pain for Turkish lira holders<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>With little to inspire Bitcoin traders overall, only events in Turkey provided some form of a silver lining for those who opted to diversify into BTC.<\/p>\n<p><strong><em>Related:\u00a0Biggest GBTC discount ever \u2014 5 things to watch in Bitcoin this week<\/em><\/strong><\/p>\n<p>Following a fresh commitment to lower interest rates from President Recep Tayyip Erdo\u011fan, Turkey\u2019s national fiat currency, the lira (TRY), fell to new record lows of 17.8 against the dollar.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">New week, new lows. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Turkey?src=hash&amp;ref_src=twsrc%5Etfw\">#Turkey<\/a> Lira plunges to another All-time low after Erdogan says Islam demands lower rates. Now down 57.4% YTD. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/No6j5flgbf\">pic.twitter.com\/No6j5flgbf<\/a><\/p>\n<p>\u2014 Holger Zschaepitz (@Schuldensuehner) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Schuldensuehner\/status\/1472839317710114817?ref_src=twsrc%5Etfw\">December 20, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Taking its year-to-date losses to near 60%, the latest slide brought the focus back to Bitcoin and other cryptocurrencies as a potential hedge against extreme economic policy.<\/p>\n<p>BTC\/TRY passed 800,000 in a record-breaking move overnight, having doubled in just two-and-a-half months.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-12\/f345b246-d3fe-4169-ac2e-51b7047cdd5c.png\"><figcaption style=\"text-align: center;\"><em>BTC\/TRY 1-day candle chart (Binance). Source: TradingView<\/em><\/figcaption><\/figure>\n<p>To add insult to injury, the lira fell below parity with the embattled Egyptian pound (EGP) for the first time in history.<\/p>\n<p>Erdo\u011fan has had a fraught relationship with cryptocurrency and has taken steps to banish the industry from Turkish consumers.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-wobbles-below-46k-as-1-btc-passes-800k-turkish-lira-for-the-first-time\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin wobbles below $46K as 1 BTC passes 800K Turkish lira for the first time &#8221; Bitcoin (BTC) fell over 5% from local highs through Dec. 20 as macro tensions persisted into the new week. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Analyst: Brace for volatile end to 2021 Data from Cointelegraph Markets Pro&#8230;<\/p>\n","protected":false},"author":1,"featured_media":383593,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTIvNDk3MWU5ZWMtYzNjZi00ZDgzLWJiMTYtYzBkYzY5NGVjZjhhLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785,75393],"class_list":["post-383592","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-markets","tag-turkey"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/383592","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=383592"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/383592\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/383593"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=383592"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=383592"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=383592"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}