The sudden drop of Bitcoin presents an excellent buying opportunity if this historical pattern repeats.
If historical data is confirmed again, the sudden drop of Bitcoin could be followed by a 64% increase.
👇Key conclusions:
Bitcoin returns after major catalysts of the decline have exceeded 64.6% since 2010, suggesting that the recent escalation of tensions in the Middle East could be a buying opportunity for BTC.
Despite trading near historical highs, the Puell multiple of Bitcoin remains in the discount zone, indicating institutional accumulation and undervalued market conditions.
The price of Bitcoin (BTC) fell to USD 102,650 on Binance on Friday, following Israel's airstrikes against Iran. As tensions peaked, oil prices rose by 5%, and historical data suggests that the drop in BTC price could be a buying opportunity. Amid rising global tensions, Bitcoin's past performance during geopolitical crises offers a compelling argument for investment.
André Dragosch, head of research at Bitwise Europe, highlighted this potential in a post on X, citing data from the 20 major geopolitical risk events since 2010. The analyst stated that Bitcoin has averaged a price increase of 64.6% in 50 days, with an average gain of 17.3%.
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