As has been proven time and time again over the last few years, as soon as any country of the world is hit by a financial crisis of one type of another, many investors in those countries hurriedly look to Bitcoin as something of a safe haven for their funds.
With the Turkish Lira very quickly losing its value, due in no small part to the actions of Donald Trump, the value of Bitcoin is expected to rise this week, but how much no one really knows, but there is expected to be an influx of investors based in Turkey or who hold vast supplies and quantities of Turkish Lira who will be looking to offload them and turn them into Bitcoin.
That does of course mean that Forex traders who not only invest and trade on the value of fiat currencies, will also be thinking about pairing up Lira and Bitcoin, and the value of those two fiat and digital currencies are likely to become very volatile this week.
It is hard to see Lira recovering the lost ground it has so far experienced and is likely to continue to lose over the coming week, so keep that in mind if you are trading this week!
America Will Win Any Trade War
There is one thing that the USAA is in a position to do, and to do quite easily, and that is to win any trade war, and that is something that Turkey and the rest of the world needs to understand and get to grips with quickly.
Whilst Donald Trump may not have any personal grudges with any countries he and his government are imposing trade restrictions, sanctions and increased tariffs on, he is doing so for one reason, and that is, to quote the many himself, to make America Great Again!
Turkey Needs to Address This Problem
If Turkey is to avoid a total and complete and certainly devastating melt down financially, they very quickly need to start to negotiate with the USA, and not just hope and pray this situation goes away or simply bury their heads in the sand.
One thing that can be said about Donald Trump is that is he always prepared to listen and put into place a trade deal with any country of the world that is beneficial for both sides, and that is something I am more than confident he will be prepared to do with Turkey too.