Crypto Daily – Amid Middle Eastern tensions, Bitcoin has taken a dip, but the horizontal support at $60,000 has held firm thus far. Currently bouncing higher, can $BTC now start to reclaim lost ground and move back to the top of its bull flag?
Geopolitical and economic shocks could still affect Bitcoin
Nobody knows whether the Middle Eastern conflict will escalate further, if things will worsen in Ukraine, or if tensions will increase over Taiwan. In today’s uncertain times, markets are having to operate in an environment in which any of these regions could suffer some kind of shock, whether that be a sudden worsening of the situation or even some kind of black swan event.
Bitcoin is still considered by many as a risk asset, even though there are arguments to the contrary. Therefore, the number one cryptocurrency is probably going to continue to be rather volatile. Where traditional markets could perhaps lose 1% to 2% on some bad news, Bitcoin could fare…
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