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Cryptocurrency News Articles
Bitcoin (BTC) Value Motion Faces a Range of Influences, How Will the Escalating Geopolitical Tensions in the Middle-East Affect Bitcoin?
Oct 04, 2024 at 02:08 am
Bitcoin's [BTC] value motion has had a wide range of influences over time. From financial influences to geopolitical publicity, however may the escalating geopolitical outcomes within the Center-East affect Bitcoin?
Bitcoin’s [BTC] value motion has been influenced by a wide range of factors over time. From financial trends to geopolitical news, how might the escalating geopolitical events in the Middle-East impact Bitcoin?
Before we explore the potential Bitcoin impact, it is important to note that war, especially of the physical nature, is ضد to human advancement, and our sympathies lie with those affected.
The threat of major geopolitical conflicts tends to have a widespread impact, especially on markets.
Investors are usually less enthusiastic about investing not only in Bitcoin but also in the broader risk-on investment landscape during times of conflict.
This was the case in February 2022 when the Russia-Ukraine war began. Bitcoin and the rest of crypto experienced significant outflows as the investment landscape shifted to a cautious stance.
Will Bitcoin face a similar fate this time?
So far, Bitcoin has already seen a substantial outflow in the last 5 days, dropping from a high of $66,000 to its press time price of $60,450.
Exchange inflows were at 10,278 BTC in the last 24 hours, while exchange outflows were lower at 9,278 BTC.
Higher exchange inflows than outflows signaled that Bitcoin could dip below the $60,000 mark heading into the weekend if the selling pressure remained.
However, it is also worth noting that both inflows and outflows have been slowing down for the last three days.
It was unclear whether the volatile geopolitical situation played a role in the market sentiment so far. This is because the selling pressure this week could also be a result of profit-taking from Bitcoin’s rally in September.
While it is possible that the rising tensions could impact Bitcoin by influencing sentiment, the current situation also happens to be a bit different.
BTC’s selling pressure in early 2022 had several factors hammering down on the cryptocurrency.
This was around the same time that interest rates were being raised by governments, hence liquidity was flowing out of the market a lot faster.
ونزالاتي Bitcoin’s Price Prediction 2024–2025
One major difference this time is that global liquidity is on the verge of increasing thanks to interest rate cuts. In other words, the dynamics are far more varied this time.
Ultimately, geopolitical tensions are bound to have an impact in the short-term, but that impact could also be diluted by the changing liquidity scenario.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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