As per the latest reports, the searches for Bitcoin (BTC) on the Google search engine seem to have gone sky-high. It has been observed that the spike in the searches for Bitcoin (BTC) on the Google platform in Turkey has appeared in the last 24-hours.
The analysts are speculating that the major reason behind the search volume for Bitcoin (BTC) increasing in Turkey could be due to Lira. Just recently, it was announced that a central bank governor in Turkey was fired. There are many claiming that this is the reason why the price of the Lira has dropped all the way down by 14%.
The information around the search volume of Bitcoin (BTC) through the search engine is shared by Google Trends. The data from Google Trends shows that the volume of searches on the Google platform for Bitcoin (BTC) coming from Turkey spiked tremendously.
The firm has revealed that within 24-hours, the volume of searches for Bitcoin (BTC) on Google surged by 566%. The search volume increased right after the announcement of Lira’s 14% price decline was announced.
It has been confirmed that the name of the governor of the central bank of Turkey who got fired is Naci Agbal. The local media sources have confirmed that the governor of the central bank of Turkey was reportedly fired by Tayyip Erdogan, the current President of Turkey.
In a small documentary released by the local media channels, they have shown how Naci Agbal was responsible for bringing Lira out of historical lows against the US dollar.
The media sources revealed that in order to tackle the all-time low price of the Lira against the dollar, he introduced high-interest rates. He did this solely to fight against the inflation rate that is constantly on the rise in Turkey.
Even the International news channels such as BBC and CNN have covered the recent news around the termination of the Turkish central bank governor.
It has been revealed that the majority of the local and international investors trusted the capabilities of Naci Agbal. Therefore, the reports of him getting fired have caused a lot of concerns among the investor community, both local and international.
There are many that have pulled back their deals and have halted their trades with Turkey that has led to the demise of the Turkish Lira even further.
This is the reason why the people of Turkey are now resorting to cryptocurrencies and trying to find ways to make decent money.
It was also revealed by the sources that the central bank of Turkey is looking into the possibilities of adopting cryptocurrencies.
It was also informed that Turkey was in the process of launching its own digital lira in order to fight inflation and bring back the reputation that the lira used to have in the past.