bullish

Donald Trump

Bitcoin

Reserve

The Israel- Iran war has been a long topic of discussion among the crypto community with the price of giant coin Bitcoin shedding its value since Tuesday, October 1. As the community expresses their fear of an all-out attack BTC has been riding on a rollercoaster of market volatility. 
Over the weekend BTC seemed to be dented by the heightened geopolitical tension after losing 4% of its value to trade below the $62K. It later tumbled below $60,282 on Friday before surging above $62,000 in two days.&nbsp; 
<img decoding="async" class="aligncenter" src="https://ideogram.ai/assets/image/lossless/response/vxohmHTuSJ6bvQrgU8vwSA" alt="" width="1312" height="736" title="Bitcoin to Likely Hit $55K If Israel-Iran War Intensifies: Here's Why 12"> 
<h2 id="strong-experts-say-bitcoin-could-fall-below-55k-strong">Experts Say Bitcoin Could Fall Below $55K&nbsp;</h2> 
After a sluggish week, BTC&nbsp; seems to have recovered from its October lowest price to trade slightly above $63,600 on October 7, as per <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="nofollow noopener" target="_blank">CoinMarketCap</a>. BTC’s resilience at the start of the week has renewed the investors’ confidence that the crypto market will soon recover. As the geopolitical tension rattles the crypto market experts have different opinion. 
Analysts predicted that BTC would experience a sharp decline to below $55,000 if the Israel-Iran war intensified. Earlier last week, Israel Prime Minister&nbsp; Benjamin Netanyahu had vowed to respond to the Iran barrage missile.&nbsp; 
&nbsp; 
The unexpected attack caused massive destruction of properties and left several injured. On Saturday, the Israeli troops vowed to protect the sovereignty of the nation by launching a “ serious and significant” attack on Iran. 
If Israel retaliates the Iran attack the crypto assets and traditional market will witness dramatic price swings. Earlier last week stock markets such as the S&amp;P 500, and WTI crude oil among others rallied shortly after the attack. 
<h2 id="strong-middle-east-geopolitical-tension-shakes-bitcoin-strong">Middle East Geopolitical Tension Shakes Bitcoin</h2> 
The explosive surge of the stock market after Iran struck Israel profiled crypto as sensitive assets. Experts noted that BTC was vulnerable to geopolitical tension. 
<img decoding="async" class="aligncenter" src="https://ideogram.ai/assets/image/lossless/response/IUluJsE2SwSIWmv1RbFlhA" alt="IUluJsE2SwSIWmv1RbFlhA" title="Bitcoin to Likely Hit $55K If Israel-Iran War Intensifies: Here's Why 13"> 
Despite last week’s dip analysts remain optimistic that Bitcoin is poised for a breakout rally after the Fed implements changes in monetary policies. In its recent announcement, the US Federal Reserve has announced plans to lower the interest rate before year-end. 
Historically the reduction of interest rates make risky assets such as crypto to be more appealing to investors. Thus if the Fed agrees to lower the interest rates experts project that BTC bull will be active. 
 The Fed’s proposed interest rate reduction coincides with the changes in monetary policies in China. This implies that the implementation of favourable monetary policies by the People’s Bank of China and the Federal Reserve will support BTC in sustaining bullish momentum in the last quarter of 2024. 
<h2 id="strong-investors-optimistic-of-bitcoin-recovery-strong">Investors Optimistic of Bitcoin Recovery</h2> 
Despite the changes in monetary policies, experts project a shift in macroeconomic conditions to favour BTC. In the ongoing bankruptcy filing, the Bahamian crypto exchange FTX is expected to begin repaying its creditors. 
The court report shows that FTX will repay $6 billion to its customers before the end of 2024. Therefore if FTX pumps more money in repaying its customers the crypto market liquidity will increase. 
<h2 id="strong-bitcoin-set-for-bull-run-amid-trump-s-potential-election-win-strong">Bitcoin Set for Bull Run Amid Trump’s Potential Election Win</h2> 
After two years of lengthy court proceedings, the&nbsp; FTX repayment comes at a time when the US prepares for the 2024 election. The American expects the Republican presidential candidate Donald Trump to retake the White House in November. 
If Trump wins the election the American is expected to abolish anti-crypto policies implemented by the outgoing president Joe Biden. This implies that despite the geopolitical tension in the Middle East, the FTX repayments, Fed interest rate cuts, and the US election will ignite Bitcoin’s bullish steam. 
This potential shift, combined with Fed interest rate cuts and the ongoing FTX repayments, creates an environment primed for Bitcoin’s resurgence despite tensions in the Middle East. 
For more information on how events will unfold, follow<a class="editor-rtfLink" href="https://www.turkishnyradio.com/" target="_blank" rel="noopener"> TurkishNY Radio</a> on<a class="editor-rtfLink" href="https://www.tumblr.com/turkishnyradio" target="_blank" rel="noopener nofollow"> Tumblr</a>,<a class="editor-rtfLink" href="https://t.me/tnyr_news" target="_blank" rel="noopener nofollow"> Telegram</a>, and<a class="editor-rtfLink" href="https://www.linkedin.com/company/turkishny-radio/" target="_blank" rel="noopener nofollow"> LinkedIn</a>.

Bitcoin to Likely Hit $55K If Israel-Iran War Intensifies: Here’s Why

Table of Contents

TNYR

Other articles published on Oct 7, 2024

Bittensor (TAO) leads AI token rally with 160%+ monthly gain

Ethereum (ETH) Price is Decreasing: What's Ahead?

POPCAT Price Takes Lead as Meme Coins Rally: What to Expect?

Crypto Losses in 2024 Soar to $2.11 Billion, Surpassing 2023’s Annual Total: Report

$57 Million Bitcoin Dump Stuns Largest Crypto Exchange, Binance

New Ethereum Upgrade Could Reduce Block Time by 33% and Increase Throughput by 50%

Join our free newsletter for daily crypto updates!