Crypto Chat, News Bitcoin's Turbulent Week Amid Global Conflicts

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Bitcoin's Turbulent Week Amid Global Conflicts

This week, Bitcoin experienced a significant drop, falling below $104,000 due to escalating tensions between Israel and Iran. This decline triggered a wave of liquidations amounting to $1.16 billion. Economist Peter Schiff took this opportunity to criticize Bitcoin's performance, questioning its reputation as "digital gold."

Gold acted as a safe haven immediately after the news of Israel’s attacks on Iran. Bitcoin isn’t yet that visceral flight to safety, at least in the short term.
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In the midst of these events, investor Robert Kiyosaki warned that a conflict in the U.S. has begun, suggesting a violent summer ahead and urging investors to turn to Bitcoin for safety. He declared that "civil war has begun" and highlighted the potential for economic collapse.

If you haven’t checked out the excellent book The Fourth Turning, you definitely should.
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On a more optimistic note, Hunter Horsley, CEO of Bitwise, predicted that Bitcoin will enter a "no-sell zone" once it surpasses the $130,000 to $150,000 range. He suggested that "once the price of Bitcoin clears $130K – $150K, buyers will be less likely to sell."

Counterintuitively, Horsley argues that once the price of Bitcoin clears $130K – $150K, buyers will be less likely to sell.
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In related news, the European Central Bank (ECB) confirmed that gold has overtaken the euro as the second-largest reserve asset globally. This shift follows a significant rally in gold prices in 2024.

You’re telling me that the BRICS, made up of countries that flat-out hate each other, is going to have a better chance than the Euro did at becoming the global reserve asset?
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