Hey 👋 Friends,
Tensions in the Middle East have reached new levels recently. The direct conflict between Israel and Iran has not only spread tension in world politics, but also has had a direct impact on the global economy. Due to this war situation, the cryptocurrency market is also shaking along with the stock market.
The price of Bitcoin (BTC) plummeted immediately after the news of the war broke. Not only Bitcoin, but almost all major coins including Ethereum, Solana, Cardano entered the red zone in a big way. Panic spread among investors and many started selling their portfolios in a hurry, which led to the market falling further.
Current situation (for example):
• Bitcoin: down up to 6%
• Ethereum: down around 7%
• Hive down around 8%
• SOL, ADA: down around 8%-10%
• USDT market has also seen some panic, although it has returned to a stable position for now.
The crypto market has always been sensitive. World politics, economic policies, decisions of large corporations—everything affects this market. When there is a war or a major geopolitical crisis, investors rush to safe assets, such as gold or USD. Cryptocurrencies then become risky assets.
My opinion:
In this situation, one should observe the market without panic selling. For those who invest for the long term, this could be a 'buy deep' opportunity. But yes, do your own research before making any decision.
What do you think?
Will this Israel-Iran war last long? And how can the crypto market recover from this?
Share your opinion in the comments.
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