{"id":95020,"date":"2020-10-22T12:07:17","date_gmt":"2020-10-22T09:07:17","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-price-hits-new-record-high-in-these-7-countries\/"},"modified":"2024-10-29T21:58:14","modified_gmt":"2024-10-29T18:58:14","slug":"bitcoin-price-hits-new-record-high-in-these-7-countries","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-hits-new-record-high-in-these-7-countries\/","title":{"rendered":"#Bitcoin price hits new record high in these 7 countries"},"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-6a3292dfa0866\" 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-6a3292dfa0866\" 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-price-hits-new-record-high-in-these-7-countries\/#Milne_other_currencies_will_follow\" >Milne: other currencies will follow<\/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-price-hits-new-record-high-in-these-7-countries\/#USD_faces_its_own_battle\" >USD faces its own battle<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin price hits new record high in these 7 countries <\/strong>&#8221;<\/p>\n<div data-v-5a136f3a=\"\">Compiled by entrepreneur and market commentator <a href=\"https:\/\/twitter.com\/alistairmilne\/status\/1319170878765211648\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Alistair Milne<\/a>, exchange rate figures show that at this week\u2019s highs, Bitcoin was worth more in seven currencies than ever before.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Countries where <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">#Bitcoin<\/a> has hit a new ATH in their local currency:<\/p>\n<p>Brazil &#8211; pop. 209million<br \/>\nTurkey &#8211; pop. 82m<br \/>\nArgentina &#8211; pop. 44.5m<br \/>\nSudan &#8211; pop. 41m<br \/>\nAngola &#8211; pop. 30m<br \/>\nVenezuala &#8211; pop. 29m<br \/>\nZambia &#8211; pop. 17m<\/p>\n<p>Soon:<\/p>\n<p>Russia<br \/>\nColombia<\/p>\n<p>&#8230; then all other fiat currencies<\/p>\n<p>\u2014 Alistair Milne (@alistairmilne) <a href=\"https:\/\/twitter.com\/alistairmilne\/status\/1319170878765211648?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">October 22, 2020<\/a><\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"Milne_other_currencies_will_follow\"><\/span>Milne: other currencies will follow<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Bitcoin\u2019s weekly gains stood at over 15% overnight on Wednesday, as BTC\/USD reached $13,200 before reversing to press-time levels of $12,800.<\/p>\n<p>The rate of change surprised many and came at a time when many countries\u2019 fiat currencies \u2014 specifically those of developing nations \u2014 were suffering from the Coronavirus and the impact of central banks\u2019 economic reactions to it.<\/p>\n<p>The last time that Bitcoin traded at around $13,000, and even when it hit its own all-time highs of $20,000 in late 2017, the economic picture looked very different.<\/p>\n<p>In Brazil, for example, where 1 BTC now buys more reals than ever before, savers have seen the value of their currency decline by 28% against the U.S. dollar in a single year.<\/p>\n<p>At 209 million, Brazil formed the largest country by population on Milne\u2019s list. The others include Turkey, Argentina and Venezuela, with the total population of all countries involved standing at 450 million.<\/p>\n<p>Milne additionally forecast that Russia and Colombia would soon join, followed at some point in time by \u201call other fiat currencies.\u201d<\/p>\n<h2><span class=\"ez-toc-section\" id=\"USD_faces_its_own_battle\"><\/span>USD faces its own battle<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Meanwhile, Bitcoin\u2019s inverse correlation to the U.S. dollar currency index remained in focus as its bull run took hold.<\/p>\n<p>DXY measures USD strength against a basket of trading partner currencies, and declined during October to press-time levels of 92.72, coinciding with fresh strength in BTC.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.eu-central-1.amazonaws.com\/s3.cointelegraph.com\/uploads\/2020-10\/5095842c-f17a-43e8-b29d-2dfbf2169353.png\" \/><\/figure>\n<p><em>U.S. dollar currency index 1-month chart. Source: <\/em><a href=\"https:\/\/www.tradingview.com\/symbols\/TVC-DXY\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><em>TradingView<\/em><\/a><\/p>\n<p>The impact of the upcoming U.S. elections may produce further USD volatility, analysts warned.<\/p>\n<p>\u201cIf the DXY closes below the structure in the 92.5 zone, this would support any inflation assets like commodities and gold, as well as growth stocks,\u201d <a href=\"https:\/\/www.fxstreet.com\/analysis\/watch-the-us-dollar-as-election-day-approaches-202010041425\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Miles Ruttan<\/a> of Bytown Capital wrote earlier in the month.<\/p>\n<p>The extent of Bitcoin\u2019s growth has nonetheless led to announcements that it has left behind its correlation to traditional macro assets.<\/p>\n<\/div>\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 noreferrer\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-price-hits-new-record-high-in-these-7-countries\" target=\"_blank\" rel=\"noopener noreferrer\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin price hits new record high in these 7 countries &#8221; Compiled by entrepreneur and market commentator Alistair Milne, exchange rate figures show that at this week\u2019s highs, Bitcoin was worth more in seven currencies than ever before. Countries where #Bitcoin has hit a new ATH in their local currency: Brazil &#8211; pop. 209million&#8230;<\/p>\n","protected":false},"author":1,"featured_media":95021,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.eu-central-1.amazonaws.com\/s3.cointelegraph.com\/uploads\/2020-10\/681b3d30-9b88-4b09-b7d3-56c0d3ff3901.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,75582,73785],"class_list":["post-95020","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-fiat-money","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/95020","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=95020"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/95020\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/95021"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=95020"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=95020"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=95020"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}