Many people see cryptocurrencies as an investment opportunity. Some use it only as a money transfer and safe savings account. So if you had bought 10 thousand lira worth of Bitcoin a year ago, what would your profit/loss be now?
How much were Bitcoin and dollars a year ago?
We look at a global cryptocurrency exchange (Binance) to see the current value of BTC (Bitcoin) and the market selling price a year ago. When we examine the BTC / USDT chart in detail, we see that it is instantly at the level of 23 thousand 386 dollars.
Again, according to the BTC/USDT chart, one year ago, on February 5, 2022, the value of Bitcoin was at $ 41 thousand 510. We see that it is only a few months after the last record, when BTC reached $ 69 thousand, and then regressed to $ 18 thousand.
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But we also need to look at the Dollar / TL chart. Because at that time, the value of the dollar against TL was lower than it is now. In fact, on February 5, 2022, 1 dollar was equivalent to 13.57 TL. For this reason, a person who entered the cryptocurrency exchange with 10 thousand TL would have invested $ 737 in BTC.
He would have already had $415 as he had suffered a huge loss in his crypto investment. But at the moment, the value of the dollar against the lira is quite high. 1 dollar is equivalent to 18.82 TL. For this reason, the value of his money in BTC/USDT is also 7 thousand 814 TL is happening.
In other words, most of the loss in cryptocurrencies is subsidized by dollars. However, when we take into account that our lives have become more expensive during this period and the high inflation that has been announced, we can say that the 10 thousand TL we have now is less valuable than the 10 thousand TL 1 year ago.
However, it should be noted that we encountered less damage than expected on paper. Despite this, the loss rate in TL terms is 21 percent. Let’s also say that this loss has decreased due to the recent rise in the crypto exchange.
What do you think about this subject? Don’t forget to share your views with us in the comments!