{"id":566483,"date":"2021-04-16T14:37:50","date_gmt":"2021-04-16T11:37:50","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=566483"},"modified":"2021-04-16T14:37:50","modified_gmt":"2021-04-16T11:37:50","slug":"bitcoin-btc-dips-to-60k-as-turkey-bans-crypto-as-a-form-of-payment","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/bitcoin-btc-dips-to-60k-as-turkey-bans-crypto-as-a-form-of-payment\/","title":{"rendered":"Bitcoin (BTC) Dips to $60k as Turkey Bans Crypto as a Form of Payment"},"content":{"rendered":"
The Turkish Central Bank has announced a plan to ban cryptocurrencies as a form of payment effective April 30th. According to Bloomberg<\/a>, the Turkish Central bank believes that the anonymity<\/a> behind digital assets has the potential to cause ‘non-recoverable’ losses to users.<\/p>\n Furthermore, the number of complaints by Turkish residents surrounding cryptocurrencies has increased by 8,616% from February last year.\u00a0As a result, the ban will go ahead and prohibit financial companies from handling or processing payments related to cryptocurrencies.<\/p>\n Before news broke of Turkey banning the use of cryptocurrency as a form of payment, Bitcoin<\/a> was comfortable consolidating at the $63k support zone. At the time of writing, and since news of the ban hit the internet, Bitcoin has dropped to a local low of $60,050<\/a> signifying a 4.7% drop in less than 12 hours.<\/p>\n A look at the daily BTC\/USDT chart below reveals that Bitcoin has entered a correction with the 50-day moving average providing an area of macro support around the $56k price area.<\/p>\nBitcoin (BTC) Drops to $60k and Could Keep Falling<\/h2>\n