According to Vugar Usi Zade, after the escalation of the conflict between Iran and Israel, the “bears” gained strength. Indeed, after Iran’s retaliatory attack on Israel, the rate of the first cryptocurrency collapsed from $72,000 to $61,000, although it subsequently partially recovered its losses.
“I think that in the period before the next halving, the cost of Bitcoin will fluctuate between $64,000-$67,000, and will eventually reach $70,000. However, it will be quite difficult to maintain this height, given the events in the Middle East. The Israeli side has already released a statement that it plans retaliatory actions towards Iran. This means that the political situation in the world remains quite tense, and the confrontation between America, the EU, Israel, Russia and Iran is increasing,” said the top manager of Bitget.
Usi Zadeh presented two options for the development of the situation after the halving – positive and negative. Depending on various factors, the Bitcoin rate could reach $75,000 or even a record $80,000, or drop to $60,000 or $55,000.
“The MTC is sensitive to the aggravation of the situation in the Middle East, so if the conflict continues, the entire crypto market, as well as the stock market, will react with a fall in quotes. The second important factor that may affect the price of military-technical cooperation may be the activity of the SEC,” warned Vugar Usi Zadeh.
Earlier, former top manager of the Bridgewater Associates fund Bob Elliott said that the volatility of Bitcoin and its reaction to geopolitical events does not allow calling BTC “digital gold.”
Source: Bits
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