Dr. Jordan Peterson Suggests Bitcoin Could Be A Solution For Turkey

Bitcoin is gaining more and more popularity all over the world and the king coin managed to penetrate the mainstream media for a while now.

2020 and 2021 were probably the toughest years of our generation and the king coin turned out to be extremely resilient and it managed to prove its strength.

Now, the popular dr. Jordan Peterson mentioned Bitcoin as a potential solution to the problem that Turkey has.

Bitcoin – a solution for Turkey?

Check out the post that he dropped on Twitter.

Someone said: “Sadly, #Bitcoin tends to draw down 85% sometimes. It dropped 65% for covid in 2 weeks. So while it’s better than most legacy investments if you have a longer than 3 year time horizon, it’s pitiful compared to cryptocurrencies ROI wise.”

A follower said: “Yes, it is already being adopted by some out of need. Most in the west sit in a privileged position, viewing bitcoin merely as a speculative asset or tiny part of an investment portfolio. The chickens will come to roost here as well, just as it always does with fiat currency.”

One other commenter hopped on Twitter and said the following about BTC adoption: “I’m here in Istanbul and bitcoin adoption is pretty strong. I think I’m the long run Turkey will get through this. Bitcoin is king and Turkey is never going away due to its perfect geography.”

Realistic Bitcoin prediction

Crypto analyst Benjamin Cowen said that Bitcoin has fallen below the bull market support band, which is notable because altcoins also tend to fall in price against BTC when this occurs.

“The problem is when we’re down here [current low] and have shakeouts, is that altcoins never quite recover to where they were before Bitcoin had its previous shakeout.”

He also told followers that they should remain realistic regarding BTC’s price.

At the moment of writing this article, BTC is trading in the green and the king coin is priced at $48,675.

Previous ArticleNext Article
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.