Analysis: Trump's dismissal of Powell may trigger a crisis similar to the Turkish lira, leading capital to flow into BTC and stablecoins

ChainCatcher news, Trump plans to fire Federal Reserve Chairman Jerome Powell, but the experience of the Turkish central bank's interventions seems to serve as a warning against such actions. Turkish President Erodgan issued the first decree to dismiss the country's central bank governor Murat Cetinkaya in July 2019, and subsequently, a series of interventions by the Turkish central bank in 2020-21 led to the collapse of the national currency and directed capital towards BTC and stablecoins. Once Powell is dismissed, it may accelerate the sell-off of the dollar and subsequently drive Bitcoin adoption. Data shows that the dollar index has already fallen by more than 10% in three months and is currently down to 98.