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Bitcoin has surged to unprecedented all-time highs in Turkey and Argentina, driven by severe currency devaluation and escalating inflation rates.
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Market analysts are forecasting that BTC could reach new record highs, with estimates ranging from $140,000 to $150,000 in the immediate future.
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Long-term projections suggest Bitcoin could rise to $444,000 by 2026, indicating a significant transformation in global financial landscapes.
Bitcoin’s recent all-time highs in Turkey and Argentina reflect growing inflation issues, signaling potential surges in the US market. Read on for detailed insights.
Bitcoin Price Breaks Records in Turkey and Argentina as Inflation Accelerates
According to the latest data from Google Finance, the BTC/TRY pair peaked at a record high of 4.09 million TRY (approximately $105,000) during early Asian trading hours. Similarly, in Argentina, the BTC/ARS pair reached an all-time high of 119.1 million ARS (approximately $105,600).
Nonetheless, BTC’s varying “all-time highs” reveal more about the localized economic conditions than about the cryptocurrency itself. This surge is occurring amid ongoing devaluation and inflationary pressures affecting both the Turkish Lira and the Argentine Peso.
“Turkey consistently leads in these metrics. When fiat is weakening quickly, it drives demand for alternatives like Bitcoin,” an analyst remarked on X.
Data from Trading Economics indicates that Turkey’s inflation rate remains troubling, with the annual rate standing at 37.8% as of April 2025. In Argentina, projections indicate inflation could reach as high as 110% by the close of the quarter.
As local currencies lose purchasing power, individuals often turn to assets like Bitcoin to retain value. Such behavior has surged demand, causing local prices to rise significantly.
The impact of inflation has also influenced the BTC/USD pair. Recently, BTC climbed above the $100,000 threshold, spurred by inflation concerns and a declining US Dollar Index (DXY).
Furthermore, following a US-China tariff agreement, Bitcoin made notable gains, reclaiming the $105,000 mark for the first time since late January.
As of this writing, BTC’s price has adjusted to $104,277, hovering just 4.0% below its all-time high of $108,786.
Will Bitcoin Reclaim Its All-Time High? Analysts Predict Possible Surge
Analysts assert that the current trend may continue, ultimately pushing BTC back to or above its historical peaks. Crypto analyst Edward Gofsky recently emphasized the correlation between the global M2 money supply and Bitcoin’s price, suggesting that its recent increase could herald further price increases for BTC.
Gofsky noted, “The final measured technical target of the current move off the $69,000 backtest is projected between $140,000 and $150,000.”
In contrast, analyst Lark Davis pointed out that retail interest remains tepid despite Bitcoin’s recent highs, as evidenced by declining Google Trends data for “Bitcoin” since November 2024.
“This indicates that the current market pump is just beginning,” he commented.
Institutional interest is another key factor that could propel BTC’s value forward. COINOTAG has reported that Metaplanet acquired $126.7 million worth of assets, increasing its holdings by 1,241 BTC. Additionally, CEO Michael Saylor hinted at further acquisitions.
“Michael Saylor is poised to purchase billions worth of Bitcoin. A new all-time high is on the horizon!!” remarked Ash Crypto.
Last week, Standard Chartered predicted institutional investments and ETF inflows could push Bitcoin to $120,000 in Q2.
The long-term outlook is even more optimistic. Analyst Josh Mandell envisions BTC reaching $444,000 by Q2 2026, suggesting this could signify “a paradigm shift in monetary systems.”
He explained that such a massive shift would indicate a breakdown of trust in traditional currencies, marking the beginning of a new era of post-fiat finance, with Bitcoin emerging as a key asset class.
“This isn’t merely a bull market; a $444,000 Bitcoin signifies: the end of the trust cycle, the advent of Bitcoin as global neutral collateral,” noted Thomas Young, Managing Partner at Rumjog Enterprises. He highlighted factors such as investors abandoning fiat currencies, a potential bond market collapse, increasing institutional adoption, and growing media hype as catalysts for this shift.
Conclusion
In summary, Bitcoin’s extraordinary price performance in Turkey and Argentina underscores the impact of local economic conditions. The implications for future prices in more stable markets, particularly the US, remain significant. While short-term fluctuations are to be expected due to varying demands, the increasing institutional interest and inflationary pressures signal a potential rebound. The crypto community watches closely as analysts project both immediate and long-term growth for Bitcoin, emphasizing its potential role in the future of finance.
