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<p>Impossible for Bitcoin to remain stable in these troubled times. As the Middle East prepares for a potential conflict between Israel and Iran, investors are massively turning to gold. Immediate consequence: BTC drops by 2%, reaching $62,500, while gold climbs to $2,662 per ounce. Bitcoin’s volatility in the face of geopolitical tensions shows that gold remains the favorite safe haven for investors.</p> 
<h2 id="h-israel-vs-iran-bitcoin-in-turmoil">Israel vs Iran: Bitcoin in Turmoil</h2> 
<p>After <a href="https://www.cointribune.com/en/a-historic-september-for-bitcoin-the-us-elections-as-the-next-challenge/" target="_blank" rel="noreferrer noopener">a historic September for Bitcoin</a>, another episode is unfolding. It concerns the growing tensions between Israel and Iran which have <strong>a direct impact on the crypto market</strong>. The announcement of <strong>an imminent missile from Iran against Israel</strong> caused a <strong>collapse in the price of BTC</strong>, falling below the $62,500 mark.&nbsp;</p>
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<p>Meanwhile, <strong>gold shines again</strong>, gaining 1% in value.&nbsp;&nbsp;</p> 
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     <p lang="en" dir="ltr">Investors are literally selling <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> to buy <a href="https://twitter.com/hashtag/gold?src=hash&amp;ref_src=twsrc%5Etfw">#gold</a> as geopolitical tensions spike. <a href="https://t.co/ib7c38K75K">pic.twitter.com/ib7c38K75K</a></p>— jeroen blokland (@jsblokland) <a href="https://twitter.com/jsblokland/status/1841112732935897457?ref_src=twsrc%5Etfw">October 1, 2024</a>
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<p>This situation reinforces the idea that <strong>Bitcoin has not yet acquired its status as a safe haven in times of crisis</strong>. As Jeroen Blokland points out in <a href="https://x.com/jsblokland/status/1841112732935897457" target="_blank" rel="noreferrer noopener">his tweet</a>:&nbsp;</p> 
<p>“<em>Investors are literally selling Bitcoin to buy gold</em>”.&nbsp;&nbsp;</p> 
<p>Investors choose caution, preferring a tangible asset like gold in these moments of instability. While missiles are preparing to rain down, gold prices are rising, and BTC is in free fall.&nbsp;&nbsp;</p> 
<ul> 
 <li>Bitcoin drops by 2% to $62,500;&nbsp;</li> 
 <li>Gold increases by 1% to $2,662 per ounce;&nbsp;&nbsp;</li> 
 <li>The announcement of the Iranian missile against Israel triggered it.</li> 
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<h2 id="h-a-crypto-market-under-pressure">A Crypto Market Under Pressure</h2> 
<p>Besides the Israel-Iran conflict, Bitcoin and the cryptocurrency market, in general, are also subject to <strong>other pressures</strong>. <strong>Ethereum (ETH)</strong>, the second major player in the sector, saw its value drop below $2,600, <strong>down 2%</strong>. Binance Coin (BNB), on the other hand, plunged to around $550.&nbsp;&nbsp;</p> 
<p>This drop in Bitcoin and its crypto companions might just be a <strong>short-term retracement</strong>, as the market recently accumulated gains. However, the current volatility of BTC demonstrates how much <strong>geopolitical events influence</strong> its price.&nbsp;</p> 
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<p>Other recent conflicts, such as the one between Russia and Ukraine, had also triggered significant fluctuations. The idea of a “digital gold” seems far away for now, especially when physical gold continues to rise.</p> 
<p>And that’s not all. In addition to this crisis in the Middle East, Bitcoin also has to face the <a href="https://www.cointribune.com/en/the-risks-of-an-ai-bubble-and-a-recession-threaten-bitcoin/" target="_blank" rel="noreferrer noopener">risks of an AI bubble and an economic recession</a>.</p>
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Iran-Israel Tensions: Will Bitcoin Survive Against Gold?

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