Cryptocurrency Soars in Turkish and Argentine Markets, Possibly Climbing in the US?
Crypto Heats Up: Bitcoin Shatters Barriers in Turkey and Argentina
Bitcoin (BTC) has smashed records against the Turkish Lira (TRY) and Argentine Peso (ARS), sparking debates about if the US market will follow suit with another dazzling surge.
After a fierce rally, crypto enthusiasts are taking a bullish stance, hoping that Bitcoin will soon recapture its record-breaking dollar high as well.
Bitcoin Vaults in Turkey and Argentina as Inflation Spikes
Per the latest data from Google Finance, the BTC/TRY pair climbed to a jaw-dropping peak of 4.09 million TRY (nearly $105,000) at early Asian trading hours, marking a record high. Similarly, in Argentina, the BTC/ARS pair also hit an all-time high of 119.1 million ARS (approximately $105,600).
However, Bitcoin's varying "all-time highs" indicate more about these flailing currencies than they do about Bitcoin itself. These skyrocketing prices are taking place amid the rapid devaluation of both the TRY and ARS, thanks to galloping inflation.
One analyst wrote on Reddit, "Turkey seems to always lead. When fiat is dying faster than that's what happens."
Data from Trading Economics unveils that Turkey's inflation rate has remained a concern, with the annual inflation rate reaching a staggering 37.8% in April 2025. Argentina isn't walking away unscathed either, with predictions pointing towards an inflation rate of 110% by the end of the quarter.
When inflation reaches astronomical heights, the purchasing power of the local currency significantly dwindles. This fuels the demand for assets that can safeguard value, like Bitcoin.
The same phenomenon was noticed in the BTC/USD pair.Soaring inflation fears combined with a slumping US Dollar Index (DXY) pushed Bitcoin from its Liberation Day lows to beyond the $100,000 milestone.
Notably, after the US-China tariff agreement, Bitcoin had reclaimed the $105,000 mark for the first time since January 31.
At the moment, BTC's price stands at $104,277, just 4.0% short of its all-time high of $108,786.
Will Bitcoin Recapture Its Record? Analysts Point to Future Growth
Analysts predict that the current rally may continue, eventually driving Bitcoin over its peak. In a recent Reddit post, crypto analyst Edward Gofsky emphasized the correlation between the global M2 money supply and Bitcoin's price movements.
He suggested that the recent expansion in M2 could mean an increase in Bitcoin's price, potentially taking it to unprecedented highs.
"Final measured technical target of the current move off the $69,000 backtest is between $140,000 and $150,000," Gofsky forecasted.
Another analyst, Lark Davis, highlighted that retail interest remains muted despite BTC's recent peaks. This is evident in the declining Google Trends data for "Bitcoin" since November 2024.
"That's how you know the pump is just getting started," he stated.
Investments from institutions could also reignite Bitcoin's rise. BeInCrypto reported that Metaplanet shelled out $126.7 million to acquire an additional 1,241 BTC. Michael Saylor, CEO of Strategy, has also hinted at more purchases.
"Michael Saylor about to buy billions worth of Bitcoin. New all-time high is coming!!" Ash Crypto remarked.
Last week, Standard Chartered forecasted that institutional investments and ETF inflows could push BTC to $120,000 in Q2.
The long-term outlook appears rapaciously bullish. Analyst Josh Mandell envisions Bitcoin reaching $444,000 by Q2 2026. According to Thomas Young, Managing Partner at Rumjog Enterprises, this would mark "a monetary regime shift."
He cited several driving forces, including:
- Savers and investors abandoning fiat currencies
- A potential bond market breakdown
- A surge in institutional Bitcoin adoption
- Global South nations like Brazil adopting Bitcoin
- A retail frenzy propelled by renewed media attention
So, are you ready to hop on the Bitcoin bandwagon? With countless experts buzzing about an upcoming bull run, it's time to hold on tight and prepare for a roller-coaster ride!
Want to Trade Crypto Futures?
- 0% Commission Bonus - Grab up to $200 in rebates.
- Lightning-fast Trading - Execute trades in a snap.
- Capitalize on Bitcoin's Wild Swings - Stay ahead of the game.
Get Started with Plus500 Now!"Prepare to catch the bull by its horns. $444,000 Bitcoin means: A broken trust cycle, the start of post-fiat finance, Bitcoin as global neutral collateral" Young stated.
This isn't just a bull run, friends. This could very well be the beginning of a new financial era where Bitcoin reigns supreme. Are you ready to be part of this groundbreaking shift? So, buckle up and prepare for one helluva ride!
Check Out These Trusted Crypto Platforms:
- TonTrader - Dive In
- dYdX - Take a Peek
- Arkham - Explore
- BingX - Jump In
- HTX - Join In
Disclaimer: Stay informed with BeInCrypto's transparent and unbiased reporting. We strive to provide reliable, timely information. However, always verify the facts independently and consult professionals before making decisions based on our content. Remember, our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
- Bitcoin's price against the Turkish Lira and Argentine Peso has soared, reaching record highs, suggesting a bull run possibly extending to the US market.
- The rapidly increasing Bitcoin prices in Turkey and Argentina are linked to the countries' high inflation rates, fueling demand for assets like Bitcoin that can safeguard value.
- Analysts predict that the current Bitcoin rally may continue, driving its price over the all-time high and potentially reaching unprecedented levels.
- Institutions and retail interest may contribute to Bitcoin's future rise, with some experts forecasting prices as high as $444,000 by Q2 2026, marking a potentially monumental shift in the global financial landscape.
