The last few months have particularly demonstrated that, in addition to financial and macroeconomic indicators, #CryptoMarket is strongly influenced by geopolitical tensions and military actions.
While a large number of financial experts and those who call themselves such, constantly trumpet that #BTC☀ is digital gold and that it is resistant to various shocks, the behavior of $BTC proves us otherwise.
So, let's go into more detail.
On April 13 this year, Iran launched a massive drone attack on Israel. After that, the price of #BTC immediately fell, and against the backdrop of threats of the situation escalating and turning into a full-scale regional war, it fell by almost 20% by the beginning of May.
The second wave of Middle East tensions began on October 1, when Iran reportedly launched several hundred missiles toward Israel. After that, the price fell by almost 10%.
Not to mention Israel's strikes on Lebanon.
This reaction is more typical for stocks and securities, while real gold, on the contrary, rises in price in turbulent situations.
So as crypto assets become more popular, they are gradually turning into "securities" rather than #safehaven .
My above assumptions do not mean that I am pessimistic about crypto assets. But we must not forget about objectivity 🙂.
I continue to believe (there are many reasons for this) that #BTC🔥🔥🔥🔥🔥 and the crypto market as a whole will break new records, but for this to happen, at least a more or less predictable international military-political situation is needed.
I hope that during the next 5-6 months new full-scale military actions will not occur (there are presidential elections in the USA ahead, and then the inauguration).
