Explaining gold & BTC late July - early August upside price action:
(Hint: it’s not “US money printing” - that’s clearly not a sudden new phenomenon to explain why NOW)
Turkish Lira under attack from inflation mismanagement by President Erdogan & CBRT (Cent Bank Republic of Turkey). CBRT buys gold with dwindling FX reserves, citizens pile into crypto
Turk lira price action is ultimately the direct indicator of gov actions and faith in policy & currency, and therefore leads BTC & Gold
(Hint: it’s not “US money printing” - that’s clearly not a sudden new phenomenon to explain why NOW)
Turkish Lira under attack from inflation mismanagement by President Erdogan & CBRT (Cent Bank Republic of Turkey). CBRT buys gold with dwindling FX reserves, citizens pile into crypto
Turk lira price action is ultimately the direct indicator of gov actions and faith in policy & currency, and therefore leads BTC & Gold
