Bitcoin Regains $61K in Worst Start to Most Bullish Month as Israel-Iran Tensions Rage On
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Oct 02 2024Market Impact of Middle East Tensions: Bitcoin's price fluctuated around $61,500 following missile strikes from Iran on Israel, marking a significant drop in the CoinDesk 20 index and raising concerns about the asset's performance during October, typically a bullish month for BTC.
Comparison with Gold: Analysts noted that while Bitcoin experienced its worst decline in weeks, gold saw an increase, highlighting the maturity difference between the two assets; gold has a long history as a stable store of value, whereas Bitcoin is still in its early adoption phase.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
