Summary
Bitcoin briefly dropped below $60,000 due to Israel launching retaliatory strikes against Iran, causing market fluctuations. Both Bitcoin and Ethereum rebounded, with experts remaining bullish on Bitcoin’s long-term trajectory post-halving. ETFs and regulatory changes may impact Bitcoin’s price stability in the future.
Key Points
1. Bitcoin experienced a momentary decline below $60,000 on Friday morning Asia market time after news of Israel launching retaliatory missile strikes against Iran, causing a temporary dip in the crypto market.
2. Ethereum also saw a drop in value, reaching as low as $2,876, but both Bitcoin and Ethereum have rebounded, with Bitcoin currently valued at $62,500 and Ethereum at $3,000.
3. The recent Israel-Iran conflict developments come as Bitcoin’s halving event nears, with experts remaining bullish about Bitcoin’s long-term price trajectory post-halving, citing factors such as the absorption by Bitcoin ETFs and potential approval of spot Ethereum ETFs as reasons for sustained high Bitcoin prices.