Arthur Hayes, co-founder of BitMEX, predicts a surge in Bitcoin prices if tensions in the Middle East lead to a rise in oil and energy prices. In a blog post on Oct. 16, Hayes suggested that a conflict between Iran and Israel could cause oil prices to spike, subsequently increasing all energy prices. He highlighted the potential impact on Bitcoin's fiat price, stating that it would likely increase. Hayes also discussed the historical correlation between commodities and inflation, citing examples from the 1970s and 1980s. Despite recent fluctuations in oil prices, Bitcoin has shown resilience and gained over 8% in a week. Gold prices have also reached record highs due to global uncertainties. Investors are turning to safe-haven assets like gold amid escalating tensions in the Middle East. Read more AI-generated news on: https://app.chaingpt.org/news

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