Bitcoin

Arthur

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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/could-conflict-in-the-middle-east-raise-bitcoin-prices" data-wpel-link="internal" rel="noopener noreferrer nofollow">Could Conflict in the Middle East Raise Bitcoin Prices?</a><br></p>
<p style="text-align: justify">Arthur Hayes, the co-founder of BitMEX, suggests that ongoing conflicts in the Middle East may positively impact <a href="https://en.bitcoinhaber.net/bitcoin-price-surges-to-71000" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>‘s market value. He highlights Iran’s significant involvement in Bitcoin mining, which could play a critical role during this period of unrest.</p>
<h2 style="text-align: justify" id="how-does-iran-affect-bitcoin-mining">How Does Iran Affect Bitcoin Mining?</h2>
<p style="text-align: justify">In his assessment, Hayes examined the potential repercussions of the escalating tensions between Israel and Iran on the cryptocurrency market. He pointed out that Iranian miners account for about 7% of the global hash rate, emphasizing the substantial influence of Iran’s mining activities.</p>
<h2 style="text-align: justify" id="what-is-the-link-between-oil-prices-and-bitcoin">What is the Link Between Oil Prices and Bitcoin?</h2>
<p style="text-align: justify">Hayes noted that should Israel target Iran’s oil infrastructure, it could lead to a surge in oil prices, which may subsequently elevate Bitcoin’s value. He remarked that as energy costs rise, Bitcoin, as a form of stored energy, would likely gain against traditional currencies. He explained that if energy prices increase, Bitcoin’s worth in relation to fiat money is expected to follow suit.</p>
<p style="text-align: justify">– Bitcoin mining poses resilience amid rising energy costs.<br> – Iranian miners significantly contribute to the global hash rate.<br> – Increased oil prices could lead to higher Bitcoin valuations.<br> – Historical resilience of Bitcoin’s hash rate during regulatory challenges indicates potential robustness.</p>
<p style="text-align: justify">The analysis sheds light on how geopolitical tensions can shape the cryptocurrency landscape, potentially positioning Bitcoin as a more attractive asset as energy prices fluctuate. This perspective may aid investors in making more strategic choices in an unpredictable market.</p>
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/could-conflict-in-the-middle-east-raise-bitcoin-prices" data-wpel-link="internal" rel="noopener noreferrer nofollow">Could Conflict in the Middle East Raise Bitcoin Prices?</a></h5>

Could Conflict in the Middle East Raise Bitcoin Prices?

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