Many investors hoped Bitcoin’s price would rally as pressure increases on emerging market currencies like the Turkish Lira. Instead, Bitcoin is following the downward trend of these currencies. Economist Panos Mourdoukoutas, writing for Forbes, describes the prospect of Bitcoin replacing national currencies as a myth. Bitcoin Following Trend Set by Turkey and Argentina Mourdoukoutas believes that Bitcoin (BTC) is following the crash of emerging market currencies like those in countries like Turkey and Argentina. These countriesRead MoreThe post Emerging Markets Create Illusion of Bitcoin as a Global Currency appeared first on Bitcoinist.com.
