- Bitcoin surged nearly 6,000% in Turkish Lira from 2020 to 2025, reaching ₺4 million as halving cycles and macro trends align.
- The 2024 halving ignited a fresh rally, continuing Bitcoin’s four-cycle trend and pushing new highs despite market volatility.
- Bitcoin’s long-term growth reflects fixed supply, network effects, and investor behavior, with fewer deep corrections seen in 2025.
Bitcoin just broke records in Turkey, hitting an all-time high near ₺4 million. The surge reflects exponential growth over five years. From May 2020 to May 2025, BTC soared 5,978.94% in Turkish Lira terms. The price jumped from nearly zero to ₺3,999,975.19, closing just below a record ₺4,053,798.83. This steady five-year climb shows both macroeconomic pressure and Bitcoin’s robust market structure at play.
Source: Thomas
Initial gains remained subdued until 2021. The big break came in early 2021 when Bitcoin initially broke ₺500,000. It has since seen aggressive consolidation and wild fluctuations, especially in 2022. Despite steep corrections from ₺400,000 to ₺1 million, the trend remained unbroken. BTC gathered its bullish strength by mid-2023 and broke ₺1 million with ease.
Halving Cycles Shape Bitcoin’s Price History
Moreover, the current rally aligns with the fourth halving event in 2024. Historically, halvings spark major bull markets. Each halving cuts Bitcoin’s block reward in half, tightening new supply. This built-in scarcity model underpins Bitcoin’s predictable emission curve. It also syncs with larger macro cycles—such as U.S. elections and Fed policy shifts.
Halving 1 in 2012 launched Bitcoin toward $1,000 by 2013. Then came a steep drop and long consolidation. Halving 2 in 2016 sparked the 2017 run to $19,000. The next cooldown took BTC to $3,000 before recovering into Halving 3 in 2020. That event led to the explosive 2021 rally, pushing prices past $60,000. Now, Halving 4 could ignite a fresh cycle, still unfolding as of 2025.
Market Dynamics: Fear, Greed, and Network Effects
Besides halving mechanics, Bitcoin’s market growth stems from behavioral economics. Network effects, investor psychology, and supply control converge to fuel price action. Fractal charts tracking cycles show repeating hot zones post-halving. Consequently, the recent parabolic move mirrors past bullish phases.
Source: Axel
Additionally, fewer deep pullbacks show a maturing market structure. Demand consistently outpaces supply, reflecting growing institutional interest. While volume data is missing, price action indicates aggressive buying pressure.
Hence, Bitcoin’s trajectory in Turkish Lira and USD both confirm its strength. The blend of engineering, fixed supply, and human behavior continues to drive long-term gains. With ₺4 million now breached, new highs seem inevitable in this maturing bull cycle.
