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- August 2, 2024
- 3:19 pm
- World News
On August 1, the Bitcoin rate fell to $63,500 due to the conflict in the Middle East between Iran and Israel. According to Bitcoin Magazine, large investors actively bought coins “on the decline”, and as a result, Bitcoin has already partially recovered to more than $64,000.
“However, there remains significant uncertainty in the background,” the publication notes. This is not the first time that geopolitical factors have had a negative impact on the short-term dynamics of the digital asset.
On April 14 this year, Iran launched an attack on Israel. At that moment, the Bitcoin rate fell even more sharply, and the digital asset temporarily dropped to $62,000. In early July, the Bitcoin price hit a four-month low and fell to $53,523, when the price of the world's most popular cryptocurrency was affected by the debate between US presidential candidates Joe Biden and Donald Trump.
The price drop was also partly linked to concerns about large levels of bitcoin selling on the Mt.Gox exchange.
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