Wartime performance of BTC

[Somegory]

For me Bitcoin has already answered the question of the war's impact on it, as evidenced by its rise from below $65,000 to around $70,000. May be not a huge increase but it is a significant rise in just a few days, reflecting people's confidence in Bitcoin as a safe haven and store of value.

But we can't generally judge Bitcoin's performance based on such a short period or a limited regional war, despite the Middle East's importance, particularly in the energy sector, and the war's impact on energy supplies. This conflict remains geographically limited and short-lived.

It doesn't even matter.
With or without the war, what will happen will still happen.
It's normal that we see a small pump but Bitcoin price will still going down either ways.

I don't like what is happening right now, many people have already lost their lives in this war or maybe I should call it an attack? and I feared this this might be the beginning, although it can't be compared to the Russia and Ukraine war but it can escalate to that stage, all it takes is one wrong move and it's over. I hope it won't get to that.

I read that Iran is one of the very few countries that mined Bitcoin very earlier? They were into the game before the United States and many others, some people online are scared that the war will cause panic sell off or something but I don't see how, if the war escalates even more those Bitcoin might get stuck wherever they are kept.

[GreatArkansas]

I don't agree that what's happening right now in the middle east is a major test for Bitcoin. I don't even agree that we're in a wartime period. I even hesitate to call this a war. It's more of just an attack. This is just the US and its partner bullying an independent nation. Of course, Iran retaliated, but so far things haven't yet escalated into a real war. It's just a tit for tat for now.

As to Bitcoin's performance, so far so good. It seems it remains largely indifferent to what's merely a regional conflict, which is nothing new and surprising in that part of the world.

Same with Covid 19 before. We must not relate Bitcoin to any of this. Bitcoin is decentralized; no one can control it.
So for me, if the price of Bitcoin reacts to these geopolitical tensions, so be it, because even non Bitcoin market also behaves like that.

So if for some people may see this as opportunity to buy more cheap Bitcoins, then that's good.

[Kelward]

So far Bitcoin has proven that it is not affected by the US versus Iran, war because it's price is pretty much dancing around the same place but we will wait and see what happens. But hopefully the war stops and we won't have to measure Bitcoin strength and weakness through war and conflicts because war is a terrible thing. What I know about Bitcoin is that it always recovers after every dip so no matter how much it plunges as a result of wars or any other negative global news at some point we will experience an uptrend. This is the reason why we buy the dip because Bitcoin is a store of value.

[Die_empty]

Do we all agree that this is a major "test" for Bitcoin during this wartime period? In other words, would the store of value narrative be solidified or weakened based on this moment?

Or does this war not really matter much specifically for Bitcoin...BTC is just one of the many asset classes that will see volatility

Another related question, is this Iran war "big enough" to even strengthen BTC's narrative? Or do we need a China/Taiwan level conflict to really see what BTC is made of?


*I am not advocating for war, or hoping more conflicts arise btw

It is generally known that during conflict or global economic uncertainties, investors run to safe-haven assets. The notion that Bitcoin is a safe-haven asset is the topic of much debate. Hours after Putin ordered Russian soldiers to invade Ukraine, the Bitcoin price dropped by 8% to below $35,000. However, the market stabilised after a few weeks.

Bitcoin is showing that it is a safe haven asset in the recent war situation. At a time when the stock market is going flat and silver is down, Bitcoin is not doing badly. Bitcoin has proved that it is one of the most reliable stores of value during war, global emergencies, and economic instabilities. The US-Iran war will come and go, but Bitcoin's status as a store of value is not contestable.

[melinoe]

This event will be over sooner or later, and stability period will ensue.

BTC may be shaken during it, but will come victorious afterward, with a new ATH under its belt in the years to come.

[As-Soon-As]

The war has already started, so if the impact of this war will not only affect Bitcoin but also all markets. It will cause a recession in the global economic market, so I think this war will not have much of an impact. It may not take the form of an epidemic, the epidemic has put the entire economic market in the biggest recession.
So at present, we should pray that the war stops, and we are attracted to collect more Bitcoin. Because if we do not collect Bitcoin during this Bitcoin market dumping, then we will definitely be in big losses, because the price of Bitcoin can rise at any time.

[hero_the_bossman]

The war has already started, so if the impact of this war will not only affect Bitcoin but also all markets. It will cause a recession in the global economic market, so I think this war will not have much of an impact. It may not take the form of an epidemic, the epidemic has put the entire economic market in the biggest recession.
So at present, we should pray that the war stops, and we are attracted to collect more Bitcoin. Because if we do not collect Bitcoin during this Bitcoin market dumping, then we will definitely be in big losses, because the price of Bitcoin can rise at any time.

We won't be in losses... It will be lost opportunity, but not loss in our bags

[cryptoaddictchie]

Many have criticized Bitcoin as a store of value due to its relative infancy compared to traditional commodities like gold during war time.

The last 15 years has seen some major conflict, however, such as Ukraine and Gaza/Israel.

But this Iran conflict may potentially be the "biggest" one in terms of impact: geopolitical significance, economic impact as it relates to oil, religion, and many other reasons.

Do we all agree that this is a major "test" for Bitcoin during this wartime period? In other words, would the store of value narrative be solidified or weakened based on this moment?

Or does this war not really matter much specifically for Bitcoin...BTC is just one of the many asset classes that will see volatility

Another related question, is this Iran war "big enough" to even strengthen BTC's narrative? Or do we need a China/Taiwan level conflict to really see what BTC is made of?


*I am not advocating for war, or hoping more conflicts arise btw

I don’t think one war automatically proves whether Bitcoin is a good store of value or not. In the short term, Bitcoin usually moves up and down like other risky investments when there’s fear in the market. What really matters is if people in affected countries actually use Bitcoin to protect their money when banks, currencies, or governments become unstable.

[Creeper0]

We have had a positive reaction from Bitcoin so far during this war. When the war started, Bitcoin was worth around $63k, but we are now near $70k and Bitcoin looks relatively bullish.

Bitcoin has nothing to do with war and war does not affect all assets, assets increase in value even during war. There is no reason to be afraid of war, take a deep breath and go to sleep. People may consider Bitcoin as a reliable currency to get rid of inflation during war. Bitcoin has a deep relationship with people's trust, if the demand increases, the value will also increase.

[MusaPk]

So far Bitcoin has proven that it is not affected by the US versus Iran, war because it's price is pretty much dancing around the same place but we will wait and see what happens. But hopefully the war stops and we won't have to measure Bitcoin strength and weakness through war and conflicts because war is a terrible thing. What I know about Bitcoin is that it always recovers after every dip so no matter how much it plunges as a result of wars or any other negative global news at some point we will experience an uptrend. This is the reason why we buy the dip because Bitcoin is a store of value.

War must not be criteria to judge how high or low Bitcoin will go but parameters like global adoption should be the criteria. Before the start of this war, Bitcoin price was already under 70,000$ and fluctuating between range of 60,000$ to 70,000$. Now during the war price is still confined in same range this shows that unlike stock markets Bitcoin price is stable. Lets hope that peace prevails and this war end very soon, so that positive factors can continue to affect price of Bitcoins in upward direction. Many innocent people lost there lives in wars and thats why it must not happen at first place.    

[Z-tight]

BTC and crypto as a whole are volatile assets that are affected by conflicts, crisis, economic/social/political uncertainties, so it is normal for BTC price to temporarily drop when there is any war of significance. BTC is a store of value, but not yet a safe haven asset. The price usually recovers after sometime, so that should not be a problem for BTC holders.

However, assets like gold and silver are safe haven assets, so they rise when there is conflict, simply because investors move funds out of volatile assets and into safe haven assets. It's not rocket science. Many people believe that BTC would grow into a safe haven asset, but right now it is not, yet.

[Josefjix]

War as well as crises had impacted crypto in a positive way than you could ever think of, Bitcoin keeps known everyday, new people gets the information everyday that's what makes it's price stable and growing as store of value.

If you can remember clearly, Bitcoin had survived through every storms against it, war, pandemic and crashes has nothing to do with it's purpose, instead, it breaks it down, build upwards and skyrock after then.

Of course, war would causes devalue of Bitcoin, it's negative news, but time heals every wounds, the time it takes to destroy the value of Bitcoin will be the same time to movement forward and profits every strong holders.

[Dunamisx]

Or does this war not really matter much specifically for Bitcoin...

War is not the major determinant for Bitcoin market price determination, however, it can react towards an incidence of war within a short period, so it may matters in some cases and may not really matter as well in some conditions of an ongoing war.

Another related question, is this Iran war "big enough" to even strengthen BTC's narrative? Or do we need a China/Taiwan level conflict to really see what BTC is made of?

Bitcoin does not need a war to have strength and make people believe in it or adopt it the more because of pressurized by the incidence of war, when the war initially begin we can see that there is no much reaction towards the market from it to the extent and even though the little that was experienced was not highly seen on an imaginable effect.