The Impact of the War Between Israel and Iran on Cryptocurrencies
Increased Price Volatility: Every escalation or temporary threat creates a wave of uncertainty in the markets, leading to sudden fluctuations in cryptocurrency prices such as Bitcoin and Ethereum.
Resorting to Cryptocurrencies as a Safe Haven: As tensions rise, some investors use cryptocurrencies to avoid potential impacts on local currencies or traditional banks, especially in countries affected by sanctions like Iran.
Cyber Uses of Cryptocurrencies: Amid the cyber war between Israel and Iran, cryptocurrencies are used to finance cyberattacks or purchase hacking tools on the dark web.
Iran's Push to Expand Its Reliance on Cryptocurrency: Due to imposed sanctions, Iran is increasingly seeking to rely on cryptocurrencies for trade, moving away from the traditional global financial system.
Ongoing Uncertainty: The postponement of war keeps a state of 'anxiety' alive, creating a stimulating environment for speculation in the cryptocurrency market, but also fraught with high risks.
