According to analyst Lark Davis, the value of bitcoin has risen significantly against fiat currencies, reaching milestones in 14 countries around the world.
The cryptocurrency reached record highs in #Japan, #Argentina, Laos, Congo, Ghana, #Turkey, Burundi, Sudan, Lebanon, Malawi, Egypt, Pakistan, Sierra Leone and Nigeria.
Experts attribute this trend to rising #inflationary pressures and political turmoil. Most countries are struggling with #inflation, which is causing their currencies to depreciate.
$BTC has now made new ATHs in 14 countries:
Argentina, Burundi, Congo, Egypt, Ghana, Japan, Laos, Lebanon, Malawi, Nigeria, Pakistan, Sierra Leone, Sudan, and Turkey.
The reason is simple: fiat is collapsing. pic.twitter.com/uaotiLSDar — Lark Davis (@TheCryptoLark) February 27, 2024
On February 12, 2024, the value of bitcoin reached a new high against the Argentine peso. Notably, Turkey and Nigeria recorded historic highs in October.
According to CoinGecko, in addition to the aforementioned countries, bitcoin also rose sharply against the Norwegian krone (NOR), surpassing NOR 600,000. By February 28, bitcoin had crossed $58,000 and $59,000.
Currently, bitcoin continues its rise and is at $62,600 as of this writing
Peter Brandt, CEO of Factor LLC and trader, predicted that the value of bitcoin will soar to $200,000 and that this milestone will be reached by August or September 2025.
