After Bitcoin and cryptocurrencies suffered a major decline following the recent Iran-Israel crisis, cryptocurrency analytics firm Santiment has shared an assessment of how these assets have performed in similar crises before.
According to Santiment, Bitcoin Initially Dropped in Such Events, But Then Bounced
According to Santiment analysts, in previous major real-world conflicts, cryptocurrency prices initially fell but were followed by significant rebounds.
The company cited two recent conflicts as examples.
Bitcoin lost approximately 5% of its value in the first four days after the conflict between Israel and Palestine began on October 7, 2023. However, it gained 12% in the following 9 days.
In the previous Ukraine-Russia conflict that started on February 23, 2022, the BTC price lost 10% of its value on the first day. However, it then gained 27% in 6 days.
BlackRock also said in a recent report that Bitcoin prices recover in an average of 60 days after geopolitical crises.
*This is not investment advice.
