Value

Bitcoin

Arthur

The rising tensions in the Middle East have the potential to drive up oil and energy prices, which could in turn boost Bitcoin‘s value. According to BitMEX co-founder Arthur Hayes, an increase in energy prices would make Bitcoin more valuable relative to fiat currencies. 
<a href="https://www.qubetics.com/?utm_source=TNYR&amp;utm_medium=postBANNER" target="_blank" rel="noopener nofollow"><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-22324" src="https://www.turkishnyradio.com/wp-content/uploads/2024/10/Qubetics-is-Exploding-728x90-1.gif" alt="Qubetics is Exploding 728x90 1" width="728" height="90" title="Arthur Hayes on Bitcoin Price: How Will Rising Tensions in the Middle East Affect It? 53"></a> 
In his October 16 blog post, Hayes highlighted the potential impact of the escalating conflict between Iran and Israel. He predicted that if key oil and gas fields are targeted, “oil prices will soar.” This scenario could push countries facing energy shortages to seek alternative energy sources, driving energy prices even higher globally. 
<h2 id="bitcoin-s-value-in-the-face-of-rising-energy-prices">Bitcoin’s Value in the Face of Rising Energy Prices</h2> 
Hayes made it clear: “What happens to Bitcoin’s price in fiat currency? It rises.” He explained that Bitcoin acts as a form of digital energy storage, and as energy prices rise, Bitcoin’s value against fiat currencies would increase as well. 
<h2 id="insights-on-bitcoin-mining">Insights on Bitcoin Mining</h2> 
Hayes also discussed Bitcoin mining, noting that mining profitability would balance out through difficulty adjustments. He stated that if the network hashrate falls, mining difficulty will decrease, allowing new participants to mine Bitcoin profitably, even with higher energy costs. Hayes further drew a parallel to past energy crises, recalling that between 1973 and 1982, oil prices surged by 412%, while gold gained 380%. He emphasized that commodity prices have historically mirrored fluctuations in energy markets.<img loading="lazy" decoding="async" class="alignnone size-medium wp-image-24202" src="https://www.turkishnyradio.com/wp-content/uploads/2024/10/cryptocurrency-themed-visual-showing-the-impact-of-rising-Middle-East-tensions-on-Bitcoin-and-energy-prices.-The-image-features-a-Bitcoin-symbol-wit.webp" alt="cryptocurrency themed visual showing the impact of rising Middle East tensions on Bitcoin and energy prices. The image features a Bitcoin symbol wit" width="1792" height="1024" title="Arthur Hayes on Bitcoin Price: How Will Rising Tensions in the Middle East Affect It? 54" srcset="https://www.turkishnyradio.com/wp-content/uploads/2024/10/cryptocurrency-themed-visual-showing-the-impact-of-rising-Middle-East-tensions-on-Bitcoin-and-energy-prices.-The-image-features-a-Bitcoin-symbol-wit.webp 1792w, https://www.turkishnyradio.com/wp-content/uploads/2024/10/cryptocurrency-themed-visual-showing-the-impact-of-rising-Middle-East-tensions-on-Bitcoin-and-energy-prices.-The-image-features-a-Bitcoin-symbol-wit-768x439.webp 768w, https://www.turkishnyradio.com/wp-content/uploads/2024/10/cryptocurrency-themed-visual-showing-the-impact-of-rising-Middle-East-tensions-on-Bitcoin-and-energy-prices.-The-image-features-a-Bitcoin-symbol-wit-1536x878.webp 1536w" sizes="(max-width: 1792px) 100vw, 1792px"> 
“If Middle Eastern oil is pulled off the market, the Bitcoin blockchain will keep running, and Bitcoin will at least maintain its value against energy, and will certainly rise in fiat currency terms,” Hayes added. 
<h2 id="current-market-movements">Current Market Movements</h2> 
Despite a recent downward trend in oil prices, Bitcoin has gained more than 8% over the past week, drawing attention from investors. At the same time, gold prices have also risen, signaling a flight to safe-haven assets.<img loading="lazy" decoding="async" class="alignnone size-full wp-image-24204" src="https://www.turkishnyradio.com/wp-content/uploads/2024/10/chart-1-7.jpeg" alt="chart 1 7" width="1644" height="1200" title="Arthur Hayes on Bitcoin Price: How Will Rising Tensions in the Middle East Affect It? 55" srcset="https://www.turkishnyradio.com/wp-content/uploads/2024/10/chart-1-7.jpeg 1644w, https://www.turkishnyradio.com/wp-content/uploads/2024/10/chart-1-7-768x561.jpeg 768w, https://www.turkishnyradio.com/wp-content/uploads/2024/10/chart-1-7-1536x1121.jpeg 1536w" sizes="(max-width: 1644px) 100vw, 1644px"> 
As US elections approach and tensions in the Middle East escalate, investors are increasingly turning to safe-haven assets. WisdomTree commodity strategist Nitesh Shah confirmed this trend, stating, “Gold is typically the go-to asset in times of uncertainty.” 
The rising tension between Israel and Iran has caused concerns in global markets. Experts predict that if the conflict impacts energy and financial markets, we could see significant movements in the prices of cryptocurrencies and commodities alike. 
For more in-depth market analysis, visit <a href="http://turkishnyradio.com" target="_blank" rel="noopener">Turkish NY Radio</a>.

Arthur Hayes on Bitcoin Price: How Will Rising Tensions in the Middle East Affect It?

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