- Bitcoin price is on a roll towards $13500 at the time of writing.
- Inflation in several countries is showing unique highs in several countries.
- Global unrest is causing the conversion of assets into Bitcoin.
In the post-COVID-19 world, inflation has hit several countries really hard, and this is where the current Bitcoin price movement is clearly drawing its rise. Per a tweet by cryptocurrency enthusiast and entrepreneur Alistair Milne, in over eight, Bitcoin price sees unique highs due to the increased inflations.
Mile explains that countries like Brazil already see all-time price highs in their native currencies due to post-COVID-19 inflation. The price of these currencies has gone down significantly against the dollar, while the Bitcoin price is compared with the global market dollar.
Bitcoin price all time highs
Brazilian Real has hit the all-time high already where the Bitcoin is trading for a whopping 72,710.50 reals. Similarly, when it comes to Turkish Lira, the cryptocurrency has seen an even greater high than Brazil, where 1 Bitcoin is now worth 103,412.08 Turkish Lira.
While other countries on the list are also reporting new highs, 1,014,202.78 Argentine Peso for 1 Bitcoin is another record. Whereas, 718,448.90 Sudanese pound for 1 Bitcoin is next on the list. 8,543,599.26 Angolan Kwanza against 1 Bitcoin and 263,895.06 Zambian Kwacha against the same are all showing new Bitcoin highs in their respective countries. Milne expects Russia and Colombo to be next on the list followed by the rest of the world.
At the time of writing, Bitcoin is due to break past the current resistance levels and expected to break the all-time high 2019 record in the days to come, while some analysts believe that the king is set to hit at least $14000 soon. The king is affecting the market as a whole, and it is very likely that other cryptocurrencies, especially Ethereum, are also going to see new all-time highs very soon.