Neural networks predict 🤖:
The war between Israel and Hamas may have a negative impact on cryptocurrency prices on a one-year horizon. This is because geopolitical tensions may lead to increased uncertainty and reduced risk appetite among investors. As a result, they may shift their funds to safer assets such as gold or fiat currencies, which could lead to a decrease in demand for cryptocurrencies.
For example, if war escalates, it could cause the price of bitcoin to drop by 10-20%. As of October 28, 2023, the price of bitcoin is $34,000. In the event of a 20% decline, its price would be $27,200.
The war may also lead to increased volatility in the cryptocurrency market. This is because investors will be more susceptible to panic and sharp price fluctuations. As a result, they may make riskier decisions, which could lead to further price declines.
