by Penny Angeles-Tan | Oct 5, 2024 | Business
On October 1, Iran launched an attack on Israel with 180 missiles. The attack caused the majority of crypto token prices to fall. So, what about the price of Bitcoin? Here’s the explanation.
Recently, the world has heated up again due to Iran’s attack on Israel. This conflict causes various investment instruments to experience price changes. Specifically, gold increased along with rising oil prices due to the conflict in the Middle East. So, what impact will Iran’s attack on Israel have on Bitcoin price?
You can see the development of Bitcoin prices after Iran attacks Israel and what the condition of the token price is now in this article. Read the detailed explanation until the end of the article.
Impact of Iran’s Attack on Israel on Bitcoin Prices
October has just begun and the world already seems chaotic. This was due to 180 Iranian ballistic and hypersonic missile attacks on Israel on Tuesday, October 1. Just after this attack, the crypto ecosystem immediately reacted. Almost all crypto tokens are colored “red” in response to tensions between the two countries.
This price decline was also experienced by BTC. Bitcoin prices fell quite drastically with a percentage decline in the range of 2-3%. In fact, on September 30 Bitcoin touched $65,000 after experiencing a long decline.
It is reported that BTC will also experience an increase in October after feeling it in September. However, due to the Iran-Israel conflict, these hopes were dashed.
Bitcoin and Its Response to World Conflict
Bitcoin does have an unfavorable trend in its response to world conflicts. Bitcoin tends to experience a decline when conflicts between countries arise.
As during the conflict between Russia and Ukraine in 2022, Bitcoin even experienced a decline of up to 7.9% and the price plunged below $35,000. Bitcoin even had a negative impact during the geopolitical conflict between the United States and China in 2018 and 2020.
However, Bitcoin once gave a positive response, namely when North Korea conducted a nuclear test in 2017. At that time, the price of Bitcoin soared with a continuous upward trend.
Current Bitcoin Price Chart
At the moment, harga BTC to USDT indeed experienced an increase of 1.16%. Although the price is still below $63,000, the increase is quite encouraging. The BTC token RSI indicator shows a number above 50, which means that currently, the buying trend is slightly dominating over the selling trend.
The positive Bitcoin RSI number is also reflected in the MACD line. It can be seen that the BTC MACD indicator is trying to rise above its limit line. This means that if the line continues to hold and is sustainable in its increase, a BTC bullish trend will occur and the price of Bitcoin will experience a sustainable increase.
Conclusion
The explanation of the impact of Iran’s attack on Israel on Bitcoin prices has reached its end. Even though it is enough to make the majority of investors worry and temporarily switch to traditional investment instruments, Bitcoin’s price is showing its strength again.
It is best to watch out for the high volatility of crypto tokens both positively and negatively. This is why we must conduct in-depth research when investing in the crypto ecosystem.
If you are currently doing independent research on Bitcoin to find out what its current condition is, Bitrue can help you. Bitrue has various features that you can use for independent research, starting from checking prices in real-time, finding out price conversions from BTC to USD, to articles that you can check to find out about current developments in crypto trends.
That way, you will understand about how to buy Bitcoin overall. Also, adjust your financial capabilities in determining how you invest in BTC and other crypto tokens.
by Penny Angeles-Tan | Oct 1, 2024 | Business
Today, Bitcoin price is down. Is it true that Bitcoin no longer dominates the crypto ecosystem? Understand how BTC is doing to other crypto tokens by reading this article until the end.
Bitcoin Price today it’s down. Even though the decline is not too big, this decline is a sign that the crypto ecosystem is not in good condition. The reason is, not only Bitcoin, but the majority of crypto tokens are also experiencing prices plummeting today.
What is the real state of the crypto market now? Is it true that there will be a major price correction in the future and the price drop in the majority of crypto tokens today is the start of that price correction? Check out the explanation below.
Current Bitcoin Price Chart
As of today, the price of Bitcoin to USDT has decreased by 1.72%. Perhaps, this decline does seem small because the current BTC price is still above $64K. However, previously Bitcoin was for $66,076, which means the price of BTC has fallen quite a lot at this time.
Looking at the Bitcoin price graph taken from the Bitrue market above, the RSI value is quite worrying because it is at 39. This means that if the BTC RSI value falls again, then BTC will be recorded as experiencing over selling and this will make the BTC price fall further.
The BTC MACD indicator also decreased with a fairly wide distance between the two lines. This condition makes predictions of bearish BTC stronger.
Bitcoin Predicted to Rise in Q4
There is a unique curse that is widely believed among analysts and crypto observers, namely Bitcoin which always gets worse in September. This is not even just a curse that can be taken lightly because there is underlying data.
Above is data on the decline and rise in Bitcoin prices since 2013. You can see that every September, BTC experiences a price decline. If this data continues, it means that BTC token holders will be happy because it means that in October BTC will experience another price increase.
Crypto Ecosystem Will Experience Price Correction?
Currently, the majority of crypto tokens are red. Not only Bitcoin, but Ethereum, Solana, BNB, USDT, and various memecoins also experienced price declines.
You can see from the screen capture the crypto ecosystem heatmaps taken from Cryptorank above. Many crypto tokens are experiencing price declines. The price decline is not that high, but this needs to be looked at more carefully because it is not just one or two tokens that have dropped in price.
This correction prediction is supported by Fear & Greed data. Currently, the crypto ecosystem is in the greed phase, which means that there is a chance for correction in the future. This greed phase has been going on since yesterday even though in the previous week, the crypto ecosystem was in the Neutral phase.
Quoted from Trading View, Bitcoin’s role is currently quite dominant with a dominance figure of 57.17%. This Bitcoin dominance figure decreased by 0.63% in 24 hours.
Conclusion
That’s an analysis of the price of Bitcoin and how the crypto market conditions are as of today, September 30. If you are currently researching Bitcoin or other crypto tokens, you can directly visit the Bitrue website.
There are many interesting features on Bitrue that you can use to do research before investing in crypto. You can check the token price and convert it to the current USD price, for example, BTC to USD to find out the latest information on the crypto ecosystem by reading articles on the Bitrue blog.
If you are a new player in the crypto ecosystem, Bitrue is also a website that makes it easier for you to learn how to buy BTC and other crypto tokens.
by Penny Angeles-Tan | Sep 23, 2024 | Business
Bitcoin price rose quite sharply after the Fed announced a rate cut. At the same time, whales sold BTC in large amounts. How does this affect the BTC price?
Bitcoin price soaring up The Fed officially announced an interest rate cut. After struggling to reach $60,000 for a long time, BTC has now jumped to more than $63K.
Understand the current BTC price chart analysis. And is it true that there is a whale who sells BTC in large quantities? Check out the reasons and implications for the crypto industry.
Current Bitcoin Price Chart
When this article was written on September 20, 2024, the price of BTC to USDT is soaring at $63,749 with an increase of +2.93% in the last 24 hours. In the same period, BTC reached its highest point at $64,133.
The Bitcoin price chart above is taken from Market Bitrue. It can be seen that the graph gives a very positive signal for the current condition of BTC. In fact, the RSI number is far above 50. With the number 71.71, buying BTC tokens is becoming a popular trend compared to selling it.
The MACD indicator is also rising above the border line. The gap between the two lines indicating that BTC will soon experience an impressive bull run.
Current technical analysis is quite impressive. However, seeing that the flow of crypto coin prices is always fluctuating, you can always do research before making an investment. You must always do the DYOR technique.
To make it easier for you to do independent research, the Bitrue website can help you. Because, Bitrue provides easy access for you to check the price conditions of BTC and other crypto coins in real time.
Whales Selling BTC in Large Amounts
When the price of Bitcoin finally reached more than $63,000, a whale actually sold the BTC tokens he owned. No half-hearted, whate sold up to 1,030 BTC with a selling value of approximately $64.3 million on one of the global crypto exchanges.
This action certainly attracts attention. Moreover, BTC token holders are having fun celebrating the increase in BTC prices. However, selling tokens when their value rises is actually common in the crypto industry. This is a strategy to make a profit, especially when the token holder buys it when the price drops.
However, the slightest movement from investors in the crypto industry certainly has an impact on the state of the token. So, what is the impact of selling this large amount of BTC? Pay attention to the following points.
- BTC prices can change along with selling large amounts of Bitcoin and affect the existing RSI indicator2. This BTC sale can trigger BTC price volatility
BTC and Its Popularity
After the Fed announced it would cut interest rates by 50 bps, Bitcoin prices tended to rise. This could trigger an increase in the prices of other tokens as well so that the crypto industry experiences a positive price shift.
Bitcoin is called the king of crypto for a reason. The reason is, when the price of BTC experiences an increase or decrease, the prices of other tokens will also be affected, both in positive and negative directions.
Even though when the price drops or during the Bitcoin halving the price of alternative coins will tend to rise because BTC dominance falls, Bitcoin’s popularity remains brilliant. This oldest token will still be suitable for investment purposes.
When you are interested in investing in BTC, you can learn how to buy Bitcoin. Check prices Bitcoin to USD It can also be used as primary research to check current prices so that you can determine the appropriate allocation of investment funds according to your abilities.
by Penny Angeles-Tan | Sep 19, 2024 | Business
First in history, Bitcoin was used as payment for transactions by Donald Trump, former President of the United States. This transaction took place at a bar in New York City.
With an end that is considered no longer young, 78 years, this action has received praise. The reason is, that Trump showed adaptation to modern technology by using cryptocurrency to pay for burger and beer orders at PubKey, a famous restaurant and bar in Manhattan that accepts Bitcoin.
PubKey: A Historic Place for Bitcoin Transactions
PubKey is not just an ordinary bar, this place is known as one of the pioneers in accepting Bitcoin as a means of payment. Before Trump attended a rally on Long Island, he stopped at PubKey and made a Bitcoin transaction.
With the help of a PubKey employee, Trump used the bar’s cell phone and tablet to complete the payment.
This moment was greeted enthusiastically by the customers at the bar, especially those who are Bitcoin fans.
One customer even shouted, “Make Bitcoin great again,” as a form of support for Trump’s move. In a post on social media, PubKey called this transaction one of the most historic moments in the world of Bitcoin.
The Rise of Bitcoin and Trump’s Support of Cryptocurrencies
Bitcoin, whose price has soared more than 500% in the past five years, is now priced at around $61,248.50 per Bitcoin.
In fact, when this article was written on September 19, Bitcoin price had increased by +2.95% and was at $61,919. Increased quite significantly compared to the previous day which was below $59K.
The significant increase in Bitcoin’s value has attracted the attention of investors, including public figures such as Donald Trump.
Trump’s use of Bitcoin in PubKey is not just a symbolic stunt, but also part of a larger push to support cryptocurrencies.
A few days earlier, Trump talked about cryptocurrencies when launching World Liberty Financial, a new venture in the crypto space founded by entrepreneur Steve Witkoff with two of Trump’s sons, Donald Trump Jr. and Eric Trump.
During an event at X Spaces promoting World Liberty Financial, Trump explained that his sons, including 18-year-old Barron Trump, encouraged him to understand and accept cryptocurrency.
Trump even revealed that Barron has several digital “wallets,” which refers to places where Bitcoin and other crypto assets are stored.
“He was talking about his wallet, he had four wallets or something,” Trump said, reflecting his admiration for his son’s understanding of the technology.
Trump’s Ambition to Make America the “Crypto Capital of the Planet”
Trump’s move to use Bitcoin in PubKey is not just a moment in time, but reflects a larger vision for the future of the US in the world of cryptocurrency.
In July, Trump promised to make the United States the “crypto capital of the planet” and “Bitcoin superpower of the world” if he is re-elected president.
Trump also said that if Bitcoin were to go “to the moon,” a term often used in the crypto community to describe its extraordinary price rise, he would want America to lead this revolution.
At the Bitcoin 2024 Conference in Nashville, Trump expressed his commitment to supporting Bitcoin and other cryptocurrencies. He also criticized the policies of President Joe Biden and Vice President Kamala Harris, which he called a “war on crypto.”
Additionally, Trump promised to fire Securities and Exchange Commission (SEC) Chairman Gary Gensler, who is currently leading a regulatory crackdown on digital currencies. For Trump, regulations that are too strict will only hinder the growth of a dynamic and innovative crypto industry.
Trump Campaign and Acceptance of Donations in Crypto
Trump’s commitment to cryptocurrencies is also visible in his campaign moves. In May, the Trump campaign began accepting donations in crypto.
In the announcement, Trump proudly called himself a “crypto candidate,” or a candidate who fully supports digital currency.
Conclusion
Donald Trump’s move using Bitcoins in transactions on PubKey marks a new era in which cryptocurrencies are increasingly accepted in everyday life, even among major political figures such as former US Presidents. This proof us that Bitcoin to USD can be convert in transaction in the public area like PubKey.
With his ambition to make America the world’s crypto hub, Trump clearly sees huge potential in this technology.
With the support of his family, including his younger son Barron, Trump appears ready to lead the US towards a future more connected to the digital world and cryptocurrencies.
If re-elected, Trump promises to fight for Bitcoin and end policies he sees as barriers to crypto innovation.
Meanwhile, the historic moment in PubKey remains one of the most important milestones in Bitcoin’s development, signaling the growing role of cryptocurrency in global life and politics.
by Penny Angeles-Tan | Sep 11, 2024 | Business
On-chain analyst Ali Martinez has recently issued an important warning regarding the current Bitcoin market conditions. Based on a two-month chart analysis, the TD Sequential indicator, commonly used to identify potential turning points in market trends, shows concerning sell signals. This signal suggests a possible reversal from the bullish trend that has recently strengthened. This warning comes amidst ongoing uncertainty in the crypto market, where sharp price fluctuations have become commonplace.
Martinez explains that the $51,000 support level is critical for investors to watch. If Bitcoin falls below this level, there is a significant risk that the price could continue to decline, potentially reaching $40,600. Such a decline could result in substantial losses for investors who have not taken preemptive measures. This prediction underscores the importance of the $51,000 support level in maintaining Bitcoin’s price stability and highlights that the crypto market remains highly volatile and susceptible to drastic changes. Martinez advises investors to remain vigilant and consider the risks associated with the current market uncertainty.
A drop below this support level could have a significant impact on Bitcoin (BTC) and potentially affect the broader crypto market. If BTC fails to maintain this critical support level, increased selling pressure could lead to further declines, not only impacting Bitcoin’s price but also potentially causing a domino effect on other crypto assets. This impact could create instability across the market, reduce investor confidence, and trigger panic selling.
Currently, Bitcoin is trading at $54,630, reflecting a 3.54% decrease over the last 24 hours, according to CoinMarketCap data. This price drop reflects market concerns about Bitcoin’s ability to hold its key support level. The high volatility and negative sentiment surrounding this price drop emphasize the need for caution among investors. Given the potential widespread impact of this decline, it is crucial for market participants to closely monitor price movements and market sentiment in the coming days.
CryptoPotato reports that over the last five trading days, the crypto market experienced a massive outflow of $277.2 million. This situation has further exacerbated the market’s existing pressures. The outflow reflects investor concerns and uncertainties, leading them to withdraw their funds from the crypto market. Despite various influencing factors, the sheer volume of this outflow indicates a significant lack of confidence in the current market stability.
Interestingly, this event occurred despite September 2 being a national holiday in the United States. National holidays are generally expected to provide some respite from market pressures, but this time, the situation was different. The large outflow still occurred, signaling that investor uncertainty and concerns are not limited by regular trading days. This highlights the fragility of current market sentiment and how global factors can influence investment decisions even during trading activity breaks.
Overall, this report underscores the importance of understanding market dynamics and factors that can influence short-term price movements. Market participants need to stay alert and be prepared for potential volatility resulting from these massive outflows. It also serves as a reminder for investors to continuously monitor the latest developments and make investment decisions based on thorough analysis.
During this period, investors made substantial withdrawals in several days. On Tuesday, they withdrew $287.8 million, followed by $37.2 million on Wednesday. Withdrawals continued with $211.1 million on Thursday and reached $170 million on Friday. Among the entities affected, FBTC Fidelity recorded the largest losses, adding to the market’s existing burden.
The total outflow during this period reached a significant $706.1 million, extending the negative streak to eight consecutive days. This is the longest recorded period of decline, indicating deep concerns among investors and impacting the overall market stability. The continuous withdrawal trend reflects widespread uncertainty and the potential long-term impact on the dynamics of the crypto market.
For novice traders looking to start investing in Bitcoin, now might be an opportune time. You can track Bitcoin prices through the Nanovest app, which offers a comprehensive selection of crypto assets. Nanovest provides up to 600 crypto asset options and allows investors to start with a small capital of just 5,000 rupiah.
If you’re interested in crypto asset investment, Nanovest could be a suitable choice as it offers over 2,000 U.S. stocks and more than 600 crypto assets. Take advantage of the current market movement by investing through Nanovest! For those interested in using Nanovest, the app is available on both the Play Store and the App Store.
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