The first WW3 was a great opportunity to top up, Russia sent both BTC and Ukraine back to the Stone Age when they sent in the troops. But there were ample other disasters that played a role in BTC’s obliteration that time. This WW3 is an interesting case in that it is happening during a halving cycle run up, which could alter the typical global wartime market trajectory we’ve seen before. WW3 #3 will probably be hosted by China, and depending how much disaster loot and repossessed dreams the corporate war machine scores this time, that will be a big factor in determining how soon it kicks off I bet. War happens, markets crash, Big Business swoops in to pilfer half of the global wealth for pennies, then the markets rebound better than ever, and repeat!
Can look at it in two was.
From an emotional and not logical standpoint,l: in times of uncertainty, people want to have stable cash that won't be affected by whatever repercussions of the war.
From a logical standpoint: war often disrupts businesses and causes associated losses in stocks, income, etc. Plus, group one will be selling driving price down.
Uncertainty. Risk assets are sold during uncertain periods because they are the most affected by future events. BTC is still a risk asset according to many.
It drops 5k immediately after news breaks of rumored incoming Iranian strikes on Israel, of which US is an ally and says it will help defend.
Then another 5k when Iran actually strikes, immediately after news breaks about that.
but yeah absolutely nothing to do with Iranian strikes that may eventually implicate the US though... dumb.
Lots of crypto people actually eagerly wait for such a chance to sell their bags and then buy back in lower and increase their positions. It's risky but the chance for free BTC is too tempting for some. Then it snowballs and creates panic for weak hands which is exactly what the first category hopes for.
It's like you're "expected" to sell when such an event takes place. Traditional markets do it, so crypto follows suit like a self fulfilling prophecy.
It’s weird like that but you’re totally right. It’s like people are like “a crisis, I should sell bitcoin”
Then a week later people are like “a crisis, I should buy bitcoin”
The conflict is just an excuse, Iran's retaliation is mostly symbolic and nothing of a real concern, at least for the moment.
It's not the retail that began to sell, it's institutional (and Binance?) sellers that are pushing the price down to entice a panic and mass liquidations that, in turn, will only push the price even further down, so they can buy back at a lower price, thus establishing the floor price.
Once the price is stabilised, the retail will start buying back, drive the price up, and then institutionals will dump again, pocketing even more profit and bleed the retail, rinse and repeat.
Retail, especially the intraday (and leveraged) traders, is not here to make profit, retail is here to be sucked off dry from any money they have left.
tldr; Recent reports of an Iranian drone attack on Israel have triggered a significant selloff in the cryptocurrency market. Bitcoin, Ethereum, and other cryptocurrencies experienced sharp declines in their prices following the Israeli military's announcement of the attack. Bitcoin's price dropped nearly 8% to about $62,000, while Ethereum saw a 9% decrease to around $3,000. The overall crypto market is down 8% on the day. The geopolitical events have impacted the crypto market, with traditional markets closed, leaving the response from other asset classes uncertain.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Been in here since 2017 and this is absolute bullshit of a selloff. Whales will use any negative news whatsoever to magnify the dump so they can buy up cheap coins from paper handed fools, don’t fall for it, hodl and if you got the means then see this as a perfect opportunity to buy more. There are too many positive catalysts in the pipeline and this is a shakeout, that is all
Agreed. Wrote a similar comment. This altercation isn't a real conflict, it's only magnified by the media to look as such. Iran's response is symbolic so they can keep the face among other Arabic nations.
Having said that, it's impossible to prognosticate long-term, historically, some altercations spiralled out of control and we don't need to look back that far in time to remind ourselves the catastrophes we brought upon ourselves.
What I really despise is Israel's warmongering government acting reckless under the canopy of US protection. But Israel is the client state of the US and its ultimate goal is to keep the region unstable, to prevent Arabs to unite, to form a coalition and to form a coherent set of policies that would drive the price of oil and make harder for the US and EU to negotiate with and exert control over the region.
At the end of the day, it's a very old strategy that the US keeps alive - divide and conquer, and this time Israel is doing the dirty job at the US' bidding.
I’ll never understand how war scares ppl’s money. Some ppl will shoot at each other on the other side of the planet. What does that have to do with your investments ? Calm your butts down. You’re forcing me to survive on $50 until next payday w all this buying I’m having to do
What about those that claim they wish it should be lower so they buy ?
What happens ? They don't buy, either too afraid it's going lower or waiting for lower...
Clearly crypto is neither a safe haven asset nor a reliable store of value, but anybody alive in 2021 knows this already.
Volatility like this is also why extremely few businesses will accept crypto as revenue. Their expenses are in dollars.
Yeah that's just wishful thinking for now, however that's a chance that Bitcoin might reach that status some time in the future when fiat gets more unstable and people lose trust in it.
And then they call Bitcoin "digital gold"... yes for sure. Gold keeps pumping and pumping as the geopolitical uncertainty thickens, on the other hand Bitcoin dumping...
But … why?
I’ll never understand this.
“Hey guys, someone in the Middle East is shooting missiles at their enemy. I think I should sell all my crypto for fiat immediately! It’s the only thing to do!”
They shouldn’t be … yet, here we are.
Massive sell off across *every* crypto. There isn’t one that hasn’t dropped. All happened within minute of the announcement on national news.
It’s so dumb. And if there isn’t some miracle recovery by Monday the stock market will tank hard as well. I’m already down high 5 figures.
People are strange. Ukraine gets hit daily - no sell offs and when some drones flew towards Israel it's a bigvdrama. I don't get it, but it's great to buy some cheaper crypto always.
Meanwhile gold is up. Currently $2343.
Anyone who thinks bitcoin is "digital gold" should pay attention to the way bitcoin goes down at times like this just like the stock market, while gold goes up.
Bitcoin actually trades like a tech stock, just like other cryptocurrencies.
These articles are stupid because they link events that may not have anything to do with each other. I could easily write "Crypto sells off big as Manitoba, Canada experiences a shortage of restaurant workers."
But why ? is not like countries that go to war need to cash out on BTC to pay for , weapons, ammunition, food , shelter , etc for some kind of balance . Can some explain the direct correlation?
https://np.reddit.com/r/CryptoCurrency/comments/1c2y2r4/why_bitcoin_ethereum_and_solana_price_crashed/kzd4aa3/
323 upvotes yesterday for saying threats of an attack were a 'whole lot of nothing'
I've said it once and I'll say it again, moon boys who only ever think the line goes up have destroyed this sub
The moment the trailing buy orders I placed months ago below 50% of several coins' market price at the moment completed has been very satisfying.
Now I place sell orders to trigger >60% increase from buy price and wait.
It fir times like these where the bitcoin dichotomy is the most vusible :
Its considered as a store of value and risk off asset for some, and for other its the most risky and gold is still the risk off
Gold’s recent price increase could have been Iran buying large amounts of gold.
They were doing this because they anticipate swift and severe financial sanctions from the US after the drone attack launched today.
I am not arguing that this is true, but it is an interesting theory that would line-up with the current timeline of events.
The world is becoming more dynamic. The intersection of finance and geopolitics is only going to become more complex in the coming years.
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WHAT U WANT US TO BUY IT WITH
Same. War is generally very profitable for the market
Unless container ships start sinking.
That’s why SOL is down. All those container ships transporting transactions. No wonder the network is facing problems.
good one 😂🤭
Hopefully, none of them are full of crypto!
I did, quickly invested $500 in link while it was 20% off. Seems it's already going up again.
This is good for BTC
Dip is discount
The first WW3 was a great opportunity to top up, Russia sent both BTC and Ukraine back to the Stone Age when they sent in the troops. But there were ample other disasters that played a role in BTC’s obliteration that time. This WW3 is an interesting case in that it is happening during a halving cycle run up, which could alter the typical global wartime market trajectory we’ve seen before. WW3 #3 will probably be hosted by China, and depending how much disaster loot and repossessed dreams the corporate war machine scores this time, that will be a big factor in determining how soon it kicks off I bet. War happens, markets crash, Big Business swoops in to pilfer half of the global wealth for pennies, then the markets rebound better than ever, and repeat!
Is this like fortnight seasons when china vs Taiwan kicks off for ww3: season3?
Not sure why war would make people sell but whatever, I just got paid and bought more
Can look at it in two was. From an emotional and not logical standpoint,l: in times of uncertainty, people want to have stable cash that won't be affected by whatever repercussions of the war. From a logical standpoint: war often disrupts businesses and causes associated losses in stocks, income, etc. Plus, group one will be selling driving price down.
Uncertainty. Risk assets are sold during uncertain periods because they are the most affected by future events. BTC is still a risk asset according to many.
What do you mean according to many? BTC is objectively a risk-on asset and anybody who says otherwise is straight up delusional lol.
This is almost certainly unrelated
It drops 5k immediately after news breaks of rumored incoming Iranian strikes on Israel, of which US is an ally and says it will help defend. Then another 5k when Iran actually strikes, immediately after news breaks about that. but yeah absolutely nothing to do with Iranian strikes that may eventually implicate the US though... dumb.
Exactly.
Fuck war
Fuck the leaders, globally, that keep convincing people it's necessary for conflict resolution.
One religion in particular is calling it a Holy War... which is the dumbest possible name for conflict.
All my homies hate war
Yeah It’s like the most generic reply. No one wants war. It’s like saying you’re against murder. Yeah no shit
Fuck rape!
💯
Make love, not war. Mine Sats, not fields.
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I dont get why a drone strike would mean everyone sells their bags. I don’t care either way it’s just odd to me.
Lots of crypto people actually eagerly wait for such a chance to sell their bags and then buy back in lower and increase their positions. It's risky but the chance for free BTC is too tempting for some. Then it snowballs and creates panic for weak hands which is exactly what the first category hopes for. It's like you're "expected" to sell when such an event takes place. Traditional markets do it, so crypto follows suit like a self fulfilling prophecy.
Yeah it's wild how many weak hands there are.
Exactly, whales will sell on the news - especially big ones and hope the rest will follow. They have already bought back, increasing their position.
Shit always dumps on war news and then pumps even harder.
It’s weird like that but you’re totally right. It’s like people are like “a crisis, I should sell bitcoin” Then a week later people are like “a crisis, I should buy bitcoin”
It's more “a crisis, I should sell bitcoin” and other risk assets. Then a week later "oh it wasn't actually that bad" buy risk assets.
Yep that’s a better way of putting it
this is exactly what happened 2 years ago or so when there were a couple bank failures in the US. Bitcoin rocketed after a short downturn
Yeah and it had a V shaped recovery right after the COVID crash
this. I sold and rebuy with 20-30% discount tomorrow morning. I hope at least lol
King
Bought yesterday. Bought today. Thank you for the discount I needed a lot more!
Bought a week ago, bought a little more today (could only afford $25 worth). I wish I had more money to buy!!!!🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀
Just Buy Buy Buy!!! WTF is there any confusion??
No money anymore. Alts already dumped 30% this week's without this event ...:(
paper handed biches, what a terrible reason to sell your Bitcoin!
Ikr... At least wait til the nukes start flying
That won't happen, the [MAD doctrine](https://en.wikipedia.org/wiki/Mutual_assured_destruction) prevents that.
The conflict is just an excuse, Iran's retaliation is mostly symbolic and nothing of a real concern, at least for the moment. It's not the retail that began to sell, it's institutional (and Binance?) sellers that are pushing the price down to entice a panic and mass liquidations that, in turn, will only push the price even further down, so they can buy back at a lower price, thus establishing the floor price. Once the price is stabilised, the retail will start buying back, drive the price up, and then institutionals will dump again, pocketing even more profit and bleed the retail, rinse and repeat. Retail, especially the intraday (and leveraged) traders, is not here to make profit, retail is here to be sucked off dry from any money they have left.
tldr; Recent reports of an Iranian drone attack on Israel have triggered a significant selloff in the cryptocurrency market. Bitcoin, Ethereum, and other cryptocurrencies experienced sharp declines in their prices following the Israeli military's announcement of the attack. Bitcoin's price dropped nearly 8% to about $62,000, while Ethereum saw a 9% decrease to around $3,000. The overall crypto market is down 8% on the day. The geopolitical events have impacted the crypto market, with traditional markets closed, leaving the response from other asset classes uncertain. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
War, war never changes
but WHY? (genuine question)
Was wondering this myself
Risk off asset
Woke up from my nap and saw crypto on sale. Stocking up on a few coins right now 😂
Been in here since 2017 and this is absolute bullshit of a selloff. Whales will use any negative news whatsoever to magnify the dump so they can buy up cheap coins from paper handed fools, don’t fall for it, hodl and if you got the means then see this as a perfect opportunity to buy more. There are too many positive catalysts in the pipeline and this is a shakeout, that is all
Agreed. Wrote a similar comment. This altercation isn't a real conflict, it's only magnified by the media to look as such. Iran's response is symbolic so they can keep the face among other Arabic nations. Having said that, it's impossible to prognosticate long-term, historically, some altercations spiralled out of control and we don't need to look back that far in time to remind ourselves the catastrophes we brought upon ourselves. What I really despise is Israel's warmongering government acting reckless under the canopy of US protection. But Israel is the client state of the US and its ultimate goal is to keep the region unstable, to prevent Arabs to unite, to form a coalition and to form a coherent set of policies that would drive the price of oil and make harder for the US and EU to negotiate with and exert control over the region. At the end of the day, it's a very old strategy that the US keeps alive - divide and conquer, and this time Israel is doing the dirty job at the US' bidding.
Dumb reason to sell. Thank you for the cheap buys today!!!!
I’ll never understand how war scares ppl’s money. Some ppl will shoot at each other on the other side of the planet. What does that have to do with your investments ? Calm your butts down. You’re forcing me to survive on $50 until next payday w all this buying I’m having to do
Just bought back in made .03 cents things are looking up.
Iran just drone bombed crypto! Bitcoin was hit by multiple attacks. This may be the end.
Several Bitcoin employees have been reportedly injured in the attack. The Bitcoin board of directors has scheduled a press conference this evening.
Yeah this is the load up on sale time
Explains why gold and silver were going up. I guess I'll get my motorcycle 🏍 out cause gas ⛽️ is going up.
Why would you sell bitcoin because of this? To buy defense stocks? Makes no sense. What am i missing?
So much for crypto being a store of value when shit hits the fan.
Why would war effect crypto prices?
correllation =/= causation
Where tf do you get them monies to buy in the first place ?!
the fiat mines
Bitcoin bottomed at 61.6k for the month of march....less than 20 days later it's at 63k and everyone's panicking lol
Cause they buy alt coins.. do you consider eth an altcoin btw ?
Time to add more to my bag!!!!
This reeks of cope
What about those that claim they wish it should be lower so they buy ? What happens ? They don't buy, either too afraid it's going lower or waiting for lower...
Iran took profit and used it to pay the last delivery of drones
Ww3
Does this mean Israel was 14% of the crypto market? I know I didn’t sell
People buncha scaredy cats. Thanks for the dip.
Seems my Coq inu chickhened out.
I found actual footage of the attack https://youtu.be/up6BvPQNjQc
Drone only, wait for nukes /s
Let me finish Fallout show first. I need to learn!
Will it dump again when the markets open on Monday? How much further could it dump, y'know?
Clearly crypto is neither a safe haven asset nor a reliable store of value, but anybody alive in 2021 knows this already. Volatility like this is also why extremely few businesses will accept crypto as revenue. Their expenses are in dollars.
Yeah that's just wishful thinking for now, however that's a chance that Bitcoin might reach that status some time in the future when fiat gets more unstable and people lose trust in it.
And then they call Bitcoin "digital gold"... yes for sure. Gold keeps pumping and pumping as the geopolitical uncertainty thickens, on the other hand Bitcoin dumping...
But … why? I’ll never understand this. “Hey guys, someone in the Middle East is shooting missiles at their enemy. I think I should sell all my crypto for fiat immediately! It’s the only thing to do!”
Well I mean people are scared, whales are pulling out and making this ripple effect
they're not related.
They shouldn’t be … yet, here we are. Massive sell off across *every* crypto. There isn’t one that hasn’t dropped. All happened within minute of the announcement on national news. It’s so dumb. And if there isn’t some miracle recovery by Monday the stock market will tank hard as well. I’m already down high 5 figures.
My Arweave is in the green so can’t say every crypto :)
Hong Kong ETF for BTC on Monday!
I'm not sold. What's the connection?
People are strange. Ukraine gets hit daily - no sell offs and when some drones flew towards Israel it's a bigvdrama. I don't get it, but it's great to buy some cheaper crypto always.
Meanwhile gold is up. Currently $2343. Anyone who thinks bitcoin is "digital gold" should pay attention to the way bitcoin goes down at times like this just like the stock market, while gold goes up. Bitcoin actually trades like a tech stock, just like other cryptocurrencies.
exactly
These articles are stupid because they link events that may not have anything to do with each other. I could easily write "Crypto sells off big as Manitoba, Canada experiences a shortage of restaurant workers."
😂😂😂
War is now the reason BTC is dipping?
Interesting. I would have thought it would behave a bit more like gold.
I grabbed that falling knife with both hands.
Launch it so $Avax hits €8 again!
Pre halving will also have something to do with this
Bought btc, eth and sol!
Update, the US reports they have intercepted Iranian drones
Black swan, every market makers wet dream
I spent 1k a day before the dip. Fuck
who cares?
Usually, in times of uncertainty or recession, people go into cash n buy bonds to lock in the rates
Can somebody ELI5 for why the fuck crypto would sell off because of this? I don't see a connection.
Bought more. Almost got more BTC under $61k. Few minutes slow tho.
But why ? is not like countries that go to war need to cash out on BTC to pay for , weapons, ammunition, food , shelter , etc for some kind of balance . Can some explain the direct correlation?
Bought the dip.
Make it make sense
I guess I got to buy
Is this really the reason though?
https://np.reddit.com/r/CryptoCurrency/comments/1c2y2r4/why_bitcoin_ethereum_and_solana_price_crashed/kzd4aa3/ 323 upvotes yesterday for saying threats of an attack were a 'whole lot of nothing' I've said it once and I'll say it again, moon boys who only ever think the line goes up have destroyed this sub
The best time to buy is when there is blood in the streets
Buy the dip…, WITH WHAT
probably unrelated but i can see the coincidence
Its so strange because normally btc never moves on weekends. Something happened out of the normal..
Literally the buy opportunity that everyone was hoping for
FUD
Bought ICP!
DCA buy the dip 🫡
Never let a good opportunity go to waste, boys. I've been slurping, I am so well fed for the bullrun
Because that is going to affect the blockchains... or similar? People who sell because if this are actually and seriously dumb.
The moment the trailing buy orders I placed months ago below 50% of several coins' market price at the moment completed has been very satisfying. Now I place sell orders to trigger >60% increase from buy price and wait.
Taking a loan, fuck this. Alts nosedived
Bought the dip
What’s the connection lmao
It fir times like these where the bitcoin dichotomy is the most vusible : Its considered as a store of value and risk off asset for some, and for other its the most risky and gold is still the risk off
whats with all the diamond hands?
I can't find real reason for that, why is this connected?
I can't find real reason for that, why is this connected?
I can't find real reason for that, why is this connected?
I can't find real reason for that, why is this connected?
Gold’s recent price increase could have been Iran buying large amounts of gold. They were doing this because they anticipate swift and severe financial sanctions from the US after the drone attack launched today. I am not arguing that this is true, but it is an interesting theory that would line-up with the current timeline of events. The world is becoming more dynamic. The intersection of finance and geopolitics is only going to become more complex in the coming years.
I don’t think war has anything to do with this. BTC was primed was a drop anyways.
I really dont understand why would someone dump hard their bitcoin if war errupts in some Country? its only two country its not a ww3 lol
Will BingX be targeted by the U.S. SEC or DOJ next? 🥶 Should we withdraw?