Bitcoin

CRYPTO

Stella

<h4 style="color: #252525;"><strong><span style="color: #252525;">Israel and the Palestinian group Hamas have been engaged in an extensive conflict since October 7. Financial markets have reacted strongly to the ongoing escalation between both parties.</span></strong></h4> 
<p style="color: #252525;"><span style="font-weight: 400; color: #252525;">The war, which is currently in its fifth day at the time of publishing this article, it has left hundreds injured and thousands dead and caused major destruction. While the world hopes for an early resolution, experts are concerned about the possible implications this war could have on the crypto industry. Let’s discover how this war is influencing the crypto sector.</span></p> 
<h5><strong>The Consequences of the Israeli-Palestinian War</strong></h5> 
<p style="color: #252525;"><span style="font-weight: 400; color: #252525;">In general, once a war breaks out, the economy is often the first casualty. Wars usually cause stagnation in production and the economy. It is important to note that different sectors react differently to war. For example, the engineering and military sectors have seen some gains in the last few days.</span></p> 
<p style="color: #252525;"><span style="font-weight: 400; color: #252525;">Meanwhile, the aviation industry saw a decline as multiple airlines canceled Israeli routes. So far, <a href="https://www.altcoinbuzz.io/bitcoin-and-crypto-guide/what-is-bitcoins-role-in-combating-inflation/" target="_blank" rel="noopener">Bitcoin</a> has remained unaffected by the war. The price of the cryptocurrency fluctuated less than many thought it would. Here is a list of things that caused different important events since 1940:</span></p> 
<p><img decoding="async" class="alignnone size-full wp-image-125657" src="https://www.altcoinbuzz.io/wp-content/uploads/2023/10/crypto-and-war-reaction.jpeg" alt="" width="880" height="1122" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2023/10/crypto-and-war-reaction.jpeg 880w, https://www.altcoinbuzz.io/wp-content/uploads/2023/10/crypto-and-war-reaction-235x300.jpeg 235w, https://www.altcoinbuzz.io/wp-content/uploads/2023/10/crypto-and-war-reaction-803x1024.jpeg 803w, https://www.altcoinbuzz.io/wp-content/uploads/2023/10/crypto-and-war-reaction-768x979.jpeg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2023/10/crypto-and-war-reaction-696x887.jpeg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2023/10/crypto-and-war-reaction-329x420.jpeg 329w" sizes="(max-width: 880px) 100vw, 880px"></p> 
<h5 style="color: #252525;"><strong><span style="color: #252525;">How did the Crypto Sector Reacted?</span></strong></h5> 
<p style="color: #252525;"><span style="font-weight: 400; color: #252525;">The broader crypto market slumped 2% on Monday. The crypto market is showing signs of early resilience. And that remains a source of confidence for enthusiasts.</span></p> 
<p style="color: #252525;"><span style="font-weight: 400; color: #252525;">The Israeli war <a href="https://www.cnn.com/middleeast/live-news/israel-hamas-war-gaza-10-10-23/index.html" target="_blank" rel="noopener">situation </a>has not yet provoked a significant reaction from Bitcoin. Its price action has remained stable around the $27,000 to $28,000 region. But we do not know how long this conflict will last or the long-term implications for crypto.</span></p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">More than 700 israeli nationals lost their lives during the recent attack. Crypto investors have been closely watching the geopolitical tensions between israel and hamas as a full-blown war broke out over the last weekend.</p> 
 <p>— Stella Tucker (@StellaT76322105) <a href="https://twitter.com/StellaT76322105/status/1711716850860749280?ref_src=twsrc%5Etfw">October 10, 2023</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p style="color: #252525;"><span style="font-weight: 400; color: #252525;">The effects of war on the financial sector are complex and dynamic. Also, the impact of war will continue to overlap with the cryptocurrency sector as Bitcoin continues to gain public acceptance. Therefore, while the short-term effects on crypto assets are minimal, investors with diverse portfolios still need to be aware of the conflict process and its effects.</span></p> 
<h5 style="color: #252525;"><strong><span style="color: #252525;">Israel Hunts Hamas Crypto Accounts</span></strong></h5> 
<p style="color: #252525;"><span style="font-weight: 400; color: #252525;">According to a statement, the Lahav 433 cyber division of the Israel Police has frozen cryptocurrency accounts linked to Hamas. The police spokesperson’s office claims that Hamas has sought funding via cryptocurrency since the conflict. Israeli authorities are seeking to stop Hamas from receiving crypto donations.</span></p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;">BREAKING: ISRAEL FREEZES CRYPTO ACCOUNTS SEEKING HAMAS DONATIONS</p> 
 <p>“According to suspicions, with the outbreak of the war, Hamas’s terrorist organization initiated a fundraising campaign on social networks, urging the public to deposit cryptocurrencies into their accounts,”…</p> 
 <p>— Mario Nawfal (@MarioNawfal) <a href="https://twitter.com/MarioNawfal/status/1711784747439956210?ref_src=twsrc%5Etfw">October 10, 2023</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p style="color: #252525;"><span style="font-weight: 400; color: #252525;">Lahav 433 collaborated with UK law enforcement to freeze a Barclays bank account. Meanwhile, the Israeli crypto community has launched a crypto-aid platform to assist Israelis who have been affected by the war.&nbsp;</span></p> 
<p style="color: #252525;"><span style="font-weight: 400; color: #252525;">In conclusion, crypto will play a major role in the ongoing conflict. Both parties will rely on cryptocurrencies for funding. But it remains to be seen if this demand will lead to a price surge for some cryptocurrencies.</span></p> 
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<h5><strong>Disclaimer</strong><br> The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</h5> 
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Will the Israeli-Palestinian War Affect the Crypto Industry?

Altcoin Buzz

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