The effects of the geopolitical tensions on BTC, ETH and other cryptocurrencies

[rby]

In the last 24 hours, Iran and Israel have been exchanging mass destructive and explosive shootings and that have affected the price of Bitcoin, Ethereum and other coins. Bitcoin have slipped to $61k which was a little over 2% of the price 72 hours ago while Ethereum also recorded over 5% reduction in price. Just like the mother coin BTC and ETH have been affected, the crypto market have been largely affected by the ongoing war between these two countries.  Do you think the recent events is going to significantly affect the predicted bullish rise in crypto market this month of October and the rest of the year?

[Lucius]

It would be wrong to say that the effects of the conflict in the Middle East do not affect the price of cryptocurrencies, but I think that is not the only reason why we have a volatile market. We have to understand that some investors simply value volatility very much and do everything they can to make it as extreme as possible, because that way they can earn a lot of money in a very short period of time. They certainly use moments like the conflict in the Middle East to start FUD, although the fact that two countries about 1000 kilometers apart are firing ballistic missiles (most of which are shot down before hitting the target) should not affect the price of BTC too much.

The scale of the war in Ukraine is certainly several tens of times larger, and yet the markets adapted very quickly to that war to the extent that it became an everyday occurrence. Nevertheless, stories about a possible third world war are constantly present, especially if the US gets involved - but realistically, Iran is too weak for any serious conflict with Israel, which has the full support of the US.

[alltalk]

Do you think the recent events is going to significantly affect the predicted bullish rise in crypto market this month of October and the rest of the year?

Fundamentally, the impact of the bad news will last a short time only. It will never influence the price growth for the long run. So, I still believe we may see green market in this month if we have no other FUDs in the next few days. But if we have bad news again, the decline may continue for more days.

It would be wrong to say that the effects of the conflict in the Middle East do not affect the price of cryptocurrencies, but I think that is not the only reason why we have a volatile market.

The bad news really brings bad impact to the market, we can't deny it. Sure, it is also the reason why Bitcoin fluctuates. However, not every bad news gives significant impacts. Some of them just trigger the price of Bitcoin declining a bit for 1-3 days. I think this decline probably last in the first week of this month only.

[TomPluz]

Do you think the recent events is going to significantly affect the predicted bullish rise in crypto market this month of October and the rest of the year?

Surely this has already affected the price of Bitcoin and ETH (actually the whole crypto for that matter) and we still don't know how long or how far will it lead to a bearish" mood but in my estimate this will not last long as I can see that soon enough there will be investors that will take advantage of this opening to buy more BTC. What is happening between Israel and Iran is just a temporary blip and in my analysis will not yet result into a global conflagration that can 100% affect everyone and everything. This is all in the minds of the traders and the fear of war is just imaginary. In the first place, Iran and Israel can blow each other up and Bitcoin will still be here but there is no question that geopolitical tension can directly change the course of any investment vehicle much more in the ever-changing cryptocurrency industry.

[NotATether]

Why is the bitcoin price falling when these kinds of things should be making Bitcoin go up?

Are these weak hands dumping all the assets to buy gold and crude oil? If so, that is quite illogical to sell one safe haven asset for another. Unless of course, your safe haven asset is no longer a safe haven!

Anyway, don't expect the strikes to stop any time soon. These two have bad blood between them.

[bitmover]

Why is the bitcoin price falling when these kinds of things should be making Bitcoin go up?

Are these weak hands dumping all the assets to buy gold and crude oil? If so, that is quite illogical to sell one safe haven asset for another. Unless of course, your safe haven asset is no longer a safe haven!

Anyway, don't expect the strikes to stop any time soon. These two have bad blood between them.

I think bitcoin price is falling because people expect risk assets to fall on a crisis. So every sells, buy usd with that money and they will try to rebuy  at lower prices...

I think bitcoin should benefit from chaos, but not immediately.  It will have its ups and downs...

[Z-tight]

I don't know if the crisis in the middle east is directly responsible for the 'small' drop in price, a few people may be selling for that reason, but there are other events that could have triggered this too. However, we should still see a bullish October, as a lot of people have predicted, i don't think this crisis can have anything more than a short term impact.

[rby]

I don't know if the crisis in the middle east is directly responsible for the 'small' drop in price, a few people may be selling for that reason, but there are other events that could have triggered this too. However, we should still see a bullish October, as a lot of people have predicted, i don't think this crisis can have anything more than a short term impact.

"There are other events that could've triggered it" is very understandable because the volatility of Bitcoin is determined by several factors but it was believed that the way was the major cause. That being said, just like most Bitcoin investors, I'm also optimistic that October will be bullish but I'm just concerned if our optimism will be become a reality

[PX-Z]

I don't think any of this war crisis affects bitcoin price or the current drop, it's pretty normal as a normal behaviour of bitcoin price. Well unless this happens on country where there are lots of bitcoin users like on mainland EU and in USA, El Salvador, or country where miners are located at, most probably bitcoin will have huge effect.

[bitterguy28]

Just like the mother coin BTC and ETH have been affected, the crypto market have been largely affected by the ongoing war between these two countries.  Do you think the recent events is going to significantly affect the predicted bullish rise in crypto market this month of October and the rest of the year?

it depends wars all over the world has been going on for a long time now israel have been involved in this war for a year now but it is not the main factor that drives the crypto market so i do not think this recent news will affect the market too heavily most people think that there will be a lot of sell offs but people might want to use crypto to be safe and secure

if this war escalates more it might affect the market in the slightest and push the expected ath back but if it neutralizes we can assume good outcomes

[yhiaali3]

Certainly, the explosive situation in the Middle East had a negative impact on the cryptocurrency market and negatively affected all markets, especially oil. Of course, such news causes fear to spread and negatively affects all markets, leading to a drop in the price.

But on the other hand, the opposite can happen if the conflict intensifies and the circle of war expands, as people resort to buying safe haven currencies such as Bitcoin and gold to preserve the value of their money for fear of the inflation that accompanies these crises, and thus we may witness an increase in the price of Bitcoin as a result of increased demand.

[Findingnemo]

Why is the bitcoin price falling when these kinds of things should be making Bitcoin go up?

Are these weak hands dumping all the assets to buy gold and crude oil? If so, that is quite illogical to sell one safe haven asset for another. Unless of course, your safe haven asset is no longer a safe haven!

Anyway, don't expect the strikes to stop any time soon. These two have bad blood between them.

Buying digital assets makes more sense at these period than dumping on physical assets which can be destroyed by those raining missiles.

And there's no sign of any stop here, both keep retaliate each other while blaming each other and if they keep going like this and some countries take sides then this is going to pave the path for WW3 and if that happens then it's gonna be apocalypse.

[Fivestar4everMVP]

In the last 24 hours, Iran and Israel have been exchanging mass destructive and explosive shootings and that have affected the price of Bitcoin, Ethereum and other coins. Bitcoin have slipped to $61k which was a little over 2% of the price 72 hours ago while Ethereum also recorded over 5% reduction in price. Just like the mother coin BTC and ETH have been affected, the crypto market have been largely affected by the ongoing war between these two countries.  Do you think the recent events is going to significantly affect the predicted bullish rise in crypto market this month of October and the rest of the year?

War doesnt help any thing grow, both humans and the market, but rather, it destroys what have been already built and achieved, thwarting growth and most times, return the people or the market centuries back.

If this two nations have a great influence in crypto, there is no way the ongoing war wont affect the crypto market, and if prolonged, it may likely abort what ever is known or believed to be a bull run that was supposed or would have happened or occurred either this month or some few months ahead from now.
It's really saddening that the countries of the world is so financially connected to the extent that when two countries war, it affects the financial market negatively, which is to say that the problem of two countries can actually escalate to become a problem for every country of this world if not settled at the grassroot, hope we don't arrive to this stage.

[SmartGold01]

In the last 24 hours, Iran and Israel have been exchanging mass destructive and explosive shootings and that have affected the price of Bitcoin, Ethereum and other coins. Bitcoin have slipped to $61k which was a little over 2% of the price 72 hours ago while Ethereum also recorded over 5% reduction in price. Just like the mother coin BTC and ETH have been affected, the crypto market have been largely affected by the ongoing war between these two countries.  Do you think the recent events is going to significantly affect the predicted bullish rise in crypto market this month of October and the rest of the year?

This may not entirely affect the price though it might have some effect but to the extent where bitcoin will have to fall below the expected price. This month has just begun with some sentiment and could possibly change direction to something productive within next 2 weeks to come just as the month of September did, towards the ending part it shocked everyone with how the price suddenly increase making over +5 increase over the last 12-15 days.

[MRY]

Certainly, the explosive situation in the Middle East had a negative impact on the cryptocurrency market and negatively affected all markets, especially oil. Of course, such news causes fear to spread and negatively affects all markets, leading to a drop in the price.

But on the other hand, the opposite can happen if the conflict intensifies and the circle of war expands, as people resort to buying safe haven currencies such as Bitcoin and gold to preserve the value of their money for fear of the inflation that accompanies these crises, and thus we may witness an increase in the price of Bitcoin as a result of increased demand.

Although the market performance may be influenced by geopolitical crises, I do not completely understand that Bitcoin is always used as an investment that can reduce risks like gold. It remains a very risky, even if one of the most promising instrument, though many conventional investors avoid Bitcoin and similar assets during crises because of their relatively short history and therefore, less proven stability compared to, for example, gold or government bonds. As with any other application, adoption of Crypto also depends on availability of electricity and internet . Internet and electricity in large wars I expect will be a rarity and hence unhealthy for utilizing digital currencies such as bitcoin and others.