The price of Bitcoin is very closely related to the economic situation in the world so perhaps we should not underestimate any possibility because if Iran and its allies start attacking US bases throughout the Middle East the situation will be even more terrible and third World War may break out. I think that the price of Bitcoin will not fall significantly due to the impact of this war but rather it has the potential to increase further because Bitcoin has become a store of value even in the midst of a long-term war and its potential to rise.
Bitcoin is falling right now but not in a way that is concerning, imo. It is still in the $100k. If it comes back down, people might buy again to prepare for whatever the war will bring. Some people might take out their bitcoins if they need to go somewhere and protect themselves. But most would buy so they protect their money from getting devalued.Quote
Among them the Iranian parliament has approved the closure of the Strait of Hormuz, an important shipping route for goods located near Iran maritime borders. Almost bout 20% of the world oil and gas is supplied to various countries of the world through this shipping route. If Iran closes this road, it will have a far-reaching negative impact on the global economy. What is your opinion?
Importers and exporters alike would be affected. Surrounding countries in middle east like Qatar, Saudi Arabia, UAE and others rely to this strait. Oil will definitely surge. This might give an opportunity for people to turn to bitcoin instead.