CandleFocus

Bitcoin, crypto down 4% as Israel-Iran conflict escalates 

Crypto markets experienced a slump on October 1 due to geopolitical conflict between Israel and Iran. The top 10 cryptocurrencies, including Bitcoin, saw a 4% drop in market cap after Iran launched missiles towards Israel. Economic instability caused by the conflict also impacted the crypto-mining sector. Despite the turbulence, some experts, like Tyr Capital CIO Ed Hindi, believe that Bitcoin is a reliable asset for investors seeking to protect their wealth in times of crisis. They argue that Bitcoin's value proposition and performance against traditional assets make it an attractive option during periods of global uncertainty.

Related News