Recent military actions between Israel and Iran have significantly impacted the cryptocurrency market, particularly Bitcoin's value.
Impact of Military Actions on Bitcoin
Explosions in Tehran on Thursday triggered massive selling in the crypto market. Consequently, Bitcoin's value dropped by 2.8%, from $106,042 to $103,053 in just 90 minutes. This fall led to the liquidation of more than $427 million in long positions in just one day.
Crypto Experts' Optimism
Despite the current volatility, some experts remain confident that the market will rebound. Historical data suggests that after similar events last year, Bitcoin was able to quickly recover its positions. For instance, in October of last year, after a 3% decrease, it regained performance against traditional assets.
Current Politics and Market Future
The political situation in the U.S. may also affect the cryptocurrency market. Donald Trump's support for the crypto industry instills optimism among many investors. Predictions for Bitcoin, such as the forecast of it reaching $1,000,000, continue to support a positive outlook among long-term investors.
The geopolitical instability in the Middle East, particularly the conflict between Iran and Israel, poses risks to the cryptocurrency market. However, historical experience, expert optimism, and support from politicians may facilitate Bitcoin’s recovery in the future.
