If $BTC price drops because of tensions in the Middle East, things might get worse I'm afraid... The tension is expected to increase more this year...
LIVECoin Journalist
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Why Did Crypto Crash Today?
Good morning... So, you have opened your eyes to another red day. Please bear with me now 👇
As tensions between Iran and Israel intensify, the #crypto market has witnessed a significant downturn, losing over $430 billion in market value. The global crypto market cap dropped by 20%, falling from $2.64 trillion to a low of $2.21 trillion due to panic selling... The market's reaction on Monday will be crucial as the sudden crash has eroded confidence among investors.
Tensions between Iran and Israel escalated following an airstrike on the Iranian consulate in Damascus, Syria, which Iran claims resulted in the deaths of officials, including high-ranking generals. In response, Iran threatened retaliation and initiated drone attacks on Israel.
#RektCapital suggests that the current $BTC cycle is moving faster than previous ones, as evidenced by new all-time highs before the halving. However, he notes that the current retracement and sideways movement in the re-accumulation range are necessary to slow down the cycle. These retraces and consolidation periods aim to align the current cycle more closely with historical patterns.
However tension is rising. Russian President Vladimir Putin has issued a warning to the United States, cautioning against interference in the escalating tensions between Iran and Israel. Putin's threat follows reports that the U.S. intercepted drones launched by Iran toward Israel. Putin stated that if the Biden administration supports Israel, Russia will not remain passive and will take action.
As tensions between Iran and Israel intensify, the #crypto market has witnessed a significant downturn, losing over $430 billion in market value. The global crypto market cap dropped by 20%, falling from $2.64 trillion to a low of $2.21 trillion due to panic selling... The market's reaction on Monday will be crucial as the sudden crash has eroded confidence among investors.
Tensions between Iran and Israel escalated following an airstrike on the Iranian consulate in Damascus, Syria, which Iran claims resulted in the deaths of officials, including high-ranking generals. In response, Iran threatened retaliation and initiated drone attacks on Israel.
#RektCapital suggests that the current $BTC cycle is moving faster than previous ones, as evidenced by new all-time highs before the halving. However, he notes that the current retracement and sideways movement in the re-accumulation range are necessary to slow down the cycle. These retraces and consolidation periods aim to align the current cycle more closely with historical patterns.
However tension is rising. Russian President Vladimir Putin has issued a warning to the United States, cautioning against interference in the escalating tensions between Iran and Israel. Putin's threat follows reports that the U.S. intercepted drones launched by Iran toward Israel. Putin stated that if the Biden administration supports Israel, Russia will not remain passive and will take action.
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