World

Bitcoin

Safe Haven

Gold

when

<p>Tensions in the Middle East hit a dangerous high on Tuesday night as Iran fired over 200 ballistic missiles at Israel. This has left many worried about the potential for a wider conflict, possibly even World War 3. Investors have reacted quickly, shifting their money from riskier assets to safer ones. </p>   
<p>Let’s compare how <a href="https://coinpedia.org/news/gold-vs-bitcoin-which-investment-reigns-supreme/" target="_blank" rel="noreferrer noopener">Bitcoin and Gold</a> have been affected to get a clearer picture.</p>   
<h2 class="wp-block-heading" id="h-gold-prices-rise-amid-conflict">Gold Prices Rise Amid Conflict&nbsp;</h2>   
<p>On September 30, gold was priced around $2,634.94. After the missile strikes, the price jumped to $2,663, a 1.1% increase. Currently, gold is trading at $2,651—still higher than its October 1 opening price.</p>   
<figure class="wp-block-image">
 <img src="https://image.coinpedia.org/wp-content/uploads/2024/10/03123625/image-37.png" alt="" class="wp-image-359133">
</figure>   
<p>Gold had a bullish trend throughout September. Early in the month, prices fluctuated between $2,523 and $2,492. But after strong buying pressure on September 12, gold hit a high of $2,672 on September 26. Since then, it has been trading between $2,671 and $2,634, reflecting its appeal as a safe investment during uncertain times.</p>   
<h2 class="wp-block-heading" id="h-bitcoin-struggles-in-the-face-of-global-unrest">Bitcoin Struggles in the Face of Global Unrest</h2>   
<p>Bitcoin also saw a bullish trend in September. Starting at $57,379, it dropped to $53,905 on September 6, before reversing direction as new buying pressure pushed the price up. By September 28, Bitcoin reached a monthly high of <a href="https://coinpedia.org/news/crypto-price-today-sept-27th-2024-bitcoin-price-climbs-65k-wormhole-leads-gainers/" target="_blank" rel="noreferrer noopener">$65,886</a>.</p>   
<figure class="wp-block-image">
 <img src="https://image.coinpedia.org/wp-content/uploads/2024/10/03123625/image-36.png" alt="" class="wp-image-359132">
</figure>   
<p>Just a day before the geopolitical tension in the Middle East exploded abruptly, exposing its ugliest side, the <a href="https://coinpedia.org/news/crypto-news-today-oct-2nd-2024-bitcoin-and-major-altcoins-fall-amid-iran-israel-war-tensions/" target="_blank" rel="noreferrer noopener">market saw a sharp fall</a> from $63,302 to $60,808. Notably, on the day the gold market recorded a 1.1% upward spike, the Bitcoin market reported a 3.9% downward slump. At present, the price of BTC stands at $61,278. Importantly, the market has not yet recovered from the fall it suffered on the day of the massive attack by Iran on Israel.</p>   
<p>The ongoing conflict has clearly prompted investors to shift away from riskier assets like Bitcoin and into safer ones like gold. If the situation in the Middle East worsens, we’re likely to see more impact on the markets, with riskier assets continuing to face downward pressure.</p>   [post_titles_links postid="357512"]   
<p><strong>Is the current market volatility a buying opportunity or a warning sign? Share your investment strategies.</strong></p>

Should You Sell Your Bitcoin for Gold Amid Current Global Tensions?

Table of Contents

CoinPedia News

Other articles published on Oct 3, 2024

Cab driver set to retire after investing in DTX Exchange

Aptos Ecosystem Receives Major Backing with New Fund from Top Venture Firms

Spot Bitcoin ETF Outflows Hit $91M, Led By Ark’s ARKB

Taiwan FSC drafts new AML rules for crypto firms with penalties for non-compliance

Bank of America Crash Spurs Calls for Decentralization

MicroStrategy Acquires 7,420 More Bitcoin, Bringing Total Holdings to 252,220 BTC

Join our free newsletter for daily crypto updates!