Bitcoin plummets by 103,000! Israel launches airstrikes on Iran, has the 'digital gold' myth collapsed overnight?
Israel suddenly launched airstrikes on Iran, causing gold and oil prices to rise, but Bitcoin unexpectedly dropped significantly, crashing from 106,000 to 103,000, a nearly 3% decline in just 90 minutes, wiping out over 400 million dollars in long positions. This has set the market ablaze—wasn't Bitcoin considered 'digital gold'? Why did it drop when a crisis hit?
Some believe Bitcoin is still a speculative asset, unable to withstand any disturbances; however, others see this as a buying opportunity since historically, after every panic sell-off, Bitcoin has quickly rebounded, even rising higher than before. For instance, during the conflict between Iran and Israel last October, Bitcoin also fell initially but then surged, ultimately outperforming gold.
What’s more noteworthy is that companies like GameStop are still buying Bitcoin aggressively, with 500 million dollars recently invested to buy the dip. Crypto mogul Samson Mow directly stated: 'Buy the dip, while others are fearful, be greedy!'
The key question now is: If the situation in the Middle East continues to deteriorate, will Bitcoin continue to fall? Or is this drop merely a short-term emotional reaction, with a strong rebound ahead, just like in the past? In the long run, can Bitcoin truly become a safe-haven asset like gold, or is it ultimately just a high-risk, high-volatility speculative product?
Every major drop is a test—are you among those who get scared away, or are you among those who seize the opportunity to buy cheap?
Next, I will continue to strategize meticulously; rather than fumbling around and missing the best entry and exit points leading to losses, it’s better to follow me if you recognize my approach.
