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.

[Darker45]

~snip~

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.

The pandemic had a much bigger impact compared to the conflict that's happening in the middle east right now. Covid-19 affected the entire world. Hundreds of millions got the virus. Millions died. The global economy was brought to its knees.

Bitcoin nevertheless proved to be triumphant within that very pandemic year. It even registered a new ATH just months after the pandemic declaration. So, I don't think we should be worried of the market right now.

[mindrust]

So far it has been going surprisingly well actually. It went as low as the lower 60k's but that was before the start of war I believe and now we are 5 days into the war, btc is at $70k. Most people probably thought it would get dumped to $20k right away like how it happened during the covid19 crisis in 2020 but it hasn't happened like that. It seems to me the world thinks the situation with Iran isn't the end of the world and it will soon get resolved one way or the other. Either Iran will have to accept defeat or the US will find an excuse and leave the area. A ceasefire is very likely. They will get tired of killing each other eventually.

[Bitcoin_people]

We can already see that the Bitcoin market has not seen much negative impact due to the conflict between Iran and Israel in the past few days. However, we know that if a country goes to war, then at that time the countries experience inflation and face a lot of financial losses, but this does not show much volatility in the Bitcoin market. We know that Bitcoin is in limited supply, due to which it will not be damaged much. If a major war breaks out, the price may fall slightly but later it will be able to recover fully. However, we can see that the Iran-Israel conflict can have a lot of impact on the oil market, which can cause oil prices to rise in the world market, but in this case, we have seen a change in the price of Bitcoin, which is increasing rapidly. If there is a possibility of a major conflict between China and Taiwan and it happens, then of course the global market will be affected, which will shake the dollar and the world market a lot.  At that time, the biggest test of Bitcoin will be if the market goes down, then it will definitely have a big loss potential and if the market price does not fall, then Bitcoin will definitely grow strongly. During the war, banks are closed in various places due to which problems arise for economic transactions, then if transactions are made with Bitcoin, then the value of Bitcoin will definitely increase and the price will continue to increase.

[hero_the_bossman]

So far it has been going surprisingly well actually. It went as low as the lower 60k's but that was before the start of war I believe and now we are 5 days into the war, btc is at $70k. Most people probably thought it would get dumped to $20k right away like how it happened during the covid19 crisis in 2020 but it hasn't happened like that. It seems to me the world thinks the situation with Iran isn't the end of the world and it will soon get resolved one way or the other. Either Iran will have to accept defeat or the US will find an excuse and leave the area. A ceasefire is very likely. They will get tired of killing each other eventually.

Maybe, but if it drags on and becomes a bigger mess than it is now, who knows how the market will react and how the overall oil / other resources situation will shape the market.. I hope it will end as soon as possible.

[aoluain]

But since you ask then I think bitcoin already gives its answer and that’s is by the strong upward movement that bitcoin has shown since this war started, bitcoin got to $70k today while stocks are dumping. I think you have got your immediate reaction from bitcoin.

The stock market opened slightly lower but then rebounded. It has not fallen as sharply as you are saying, and bitcoin is not the only asset that's in the green.

Wars aren’t the same to use to predict the strength of bitcoin or other assets, because some wars are just regional without huge impacts on global economy but should this particular war turns out to be WWIII ( hopefully doesn’t) bitcoin will be the least of our worries

In my opinion, the Iran Israel war is not as serious as the Russia-Ukraine war. However, this will also have serious impacts on the global economy, not as simple as you might think. The Strait of Hormuz is the shipping route for approximately 20% of the world's oil and gas. If this shipping route is shut down, the oil supply will be disrupted and oil prices will rise, which will have a significant impact on the global economy. 

The big difference with what is happening ATM in Iran is that its the US who are involved and that approximately
20% of the world supply of Oil is transported through the Strait of Hormuz.

With this in mind we can already see Oil prices starting to move upwards. Fuel pricing is what almost everyone
is concerned with. Other markets will reach in whatever way buyers and sellers react.

Do we all agree that this is a major "test" for Bitcoin during this wartime period?

Not necessarily - we dont know if it will be a "Major" test but it will for sure be a test.
Bear in mind though that almost every gropolitical event is a test for the Bitcoin market because Human emotion
is involved and not everyone thinks the same way.

[nemesis_incarnate]

Not necessarily - we dont know if it will be a "Major" test but it will for sure be a test.
Bear in mind though that almost every gropolitical event is a test for the Bitcoin market because Human emotion
is involved and not everyone thinks the same way.

Also because overall market suffers through many things, crypto space can't stay behind and investors there too make the same moves if they think it will be better than to hodl on