Bitcoin halving likely this week: Here’s what to expect
This technical event happens every four years. It is when the rewards for Bitcoin miners are cut in half.
Bitcoin has proved time and again that it is going to be the currency of the future. While the global markets were reeling due to Turkish President Tayyip Erdogan’s decision to replace the country’s central bank governor; releasing waves of shock, stoking fears of capital controls, investors have started looking for alternatives to its fiat currency.
As per the data, the value of bitcoin surged in Turkey as the Turkish Lira tumbled 17 per cent within a day, marking the worst plunge in two decades.
According to a report in Ambcrypto, data from Google trends suggest that the search for the digital currency in Turkey witnessed a sharp rise of 566 per cent after the value of Lira declined.
Advertisement
Currently, the value of Bitcoin in global markets is hovering around $57,000-$58,000, while the value quoted by the Turkish exchanges was comparatively higher as it easily crossed the $60,000 mark. See the data of all online offers available at localBitcoins.com
While Bitcoin was enjoying the demand, other cryptocurrencies like StarChain, You Coin, Super Bitcoin were having their gala time at 9.30 pm (IST), as each soared 421 per cent, 375 per cent and 119 per cent in a period of 24 hours.
Here is the data of the top 5 gainers in 24 hours.
On the other hand, the losers were led by ROOBEE, Opus, Blockpass, Spective and Achain, slipping from between 25 per cent to 44 per cent.
Below is the list of top 5 losers in 24 hours.
Advertisement
