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Bitcoin’s uptick by more than 15% this week has caused the asset to hit new all-time highs against several depreciating fiat currencies.
With the leading cryptocurrency recording new highs against the Argentine peso , the Japanese yen , the Turkish lira , and the Nigerian naira , anticipation is rising about when it will register an ATH against the United States Dollar .earlier this week, BTC reached a new ATH in Argentina, recording a valuation of 40 million ARS.
Bitcoin is also trading higher in Nigeria as the asset is worth roughly 75 million NGN. The current figure starkly contrasts the 30 million NGN recorded when BTC reached its ATH against the dollar in November 2021. Although the Nigerian government hasFurthermore, BTC’s valuation in Turkey currently sits at 1.6 million TRY, with the lira experiencing a high inflation rate amid political uncertainty.
While BTC trades at a premium in these countries, the digital asset is still worth 24% less against the greenback than its November 2021 ATH of almost $70,000. Although the asset has witnessed a significant surge recently, on-chain analysts say there is still room for growth. With the next Bitcoin halving event, which has a history of triggering bull seasons,What is Farcaster? Everything You Need to KnowOne Weekly Email Can Change Your Crypto Life.Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments.
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