Bittime - Bitcoin price again shows its vulnerability to geopolitical pressures. The increase in Bitcoin prices, which previously reached an all-time high, is threatened with a drastic decline due to the escalating conflict between Iran and Israel.
Bitcoin Price Could Drop to $58,000
Jonathan de Wet, chief investment officer at Zerocap, predicts that Bitcoin prices could plummet to as low as $58,000 if the situation in the Middle East worsens. The decline was driven by Israel's response to the Iranian attack and investors' fears of instability.
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Impact of Regional Wars
It is feared that the conflict in the Middle East will trigger a regional war which will further weaken investor confidence in all capital markets, including stocks, crypto and others. This could lead to capital outflow from Bitcoin and other crypto assets.
Negative Sentiment Hits the Market
Investors showed pessimism by withdrawing $85 million from US spot Bitcoin exchange-traded funds (ETFs) in the past week. Bitcoin's value also took a hit over the weekend, dropping 13% from its high point.
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Expectations from Halving and ETFs
The halving event and positive sentiment regarding Bitcoin ETFs are predicted to help calm the market and prevent wilder fluctuations. A Bitcoin ETF in Hong Kong is also expected to attract investors from Mainland China.
Bitcoin Price Drop More Moderate?
Wintermute, a digital asset trading company, predicts that the decline in Bitcoin prices this time will be more moderate than the previous bull run cycle. This is due to continued demand for US Spot ETFs.
Conclusion
Bitcoin prices still have the potential to increase this year. However, investors need to pay close attention to geopolitical developments in the Middle East because this factor could trigger a significant price decline.
How to Buy Bitcoin (BTC) from Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn Complete Guide How to Buy Crypto on Bittime .
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
Crypto Market Falls During Iran & Israel Conflict, Bitcoin ($BTC) Even Profitable?
Crypto on the Edge: Will the Iran-Israel War Kill Bitcoin?
Crisis in the Middle East Triggers Crypto Market Crash
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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