BTC Update 04/14/2024, 59653
Journaling day: 01
BTC printed its lowest 59653 at 03:09.04/14
BTC printed its highest 67975 at 11:48.04/13
Market Movers:
The Impact of the Israel-Iran War on Bitcoin and Crypto Markets
The escalating tensions between Israel and Iran have triggered significant concerns about the potential impact on the cryptocurrency market. Amidst escalating fears, Bitcoin and other cryptocurrencies have experienced a sharp decline in value, leading to losses of billions of dollars.
Bitcoin's Dramatic Decline and the Loss of $256M Longs.
In response to the reports of an Iranian drone attack on Israel, Bitcoin experienced a sudden and dramatic decline of 8%. The price of Bitcoin dropped below $62,000, a significant drop from its March-April highs. This sharp decline was accompanied by a massive liquidation of Bitcoin longs, with $295 million of leveraged #Bitcoin positions liquidated in just 4 hours.
Impact on Other Cryptocurrencies
The decline in Bitcoin has also had a cascading effect on other cryptocurrencies, including Ethereum, BNB, and XRP. These currencies have also experienced significant losses, leading to widespread market turmoil.
Impact of the Upcoming Bitcoin Halving
The upcoming halving of Bitcoin in April 2024 is expected to significantly impact the cryptocurrency's supply dynamics. Halvings typically reduce the number of circulating coins, potentially leading to increased demand and higher prices.
Fed's Potential Role
The potential impact of the Federal Reserve's inflation figures on the cryptocurrency market has also become a topic of discussion. Some analysts believe that the Fed's aggressive monetary policy could lead to increased inflation and a depreciation of the cryptocurrency.
Conclusion:
The Israel-Iran War has had a devastating impact on the cryptocurrency market, leading to significant losses and market turmoil. The decline in Bitcoin and other cryptocurrencies is expected to continue in the coming days and weeks, as the broader economic and geopolitical factors related to the war continue to unfold.
BTC Prediction for 04/15/2024
Short target: 67975.5
Long 1:63820
Long 2: 59889
Disclaimer:
Opening/closing session: 07:00 am-07:00am UTC+7 the next day.
Update 05/15/2024
Eventually, I stopped adding News to my journal.
Copying and pasting News into free AI rewriting tools took time.
People who use News for their trade may already subscribe to Cryptopanic.
The market does not always move according to News sentiment.
News can be manipulated, and unlike Bitcoin, I have no way to verify the authenticity of the News, no matter how severe and humanly terrifying the News is.
Remember Bitcoin ethos,
Don't believe, Verify