Bitcoin, Global Markets Collapse As World Fears Iran-Israel War
Investors are facing major losses as Bitcoin and Ethereum plummet amid fears of a possible large-scale attack by Iran on Israel.
In the past week, Bitcoin has dropped 22%, including a 13% drop just today, bringing it to around $53,100. Ethereum has fallen 31% over the week and 20% since Sunday, now at $2,337.
In the last 24 hours, Bitcoin traders have sold off over $620 million, and more sell-offs are expected. Investors are reacting to uncertainties such as U.S. elections, a potential recession, and the threat of war in the Middle East.
Social media in Israel is abuzz with rumors about a new underground bunker in Jerusalem for protecting leaders in case of an attack. The Nikkei 225 index in Japan has seen its worst crash in decades, and global military stock purchases are reportedly rising.
In the U.S., Warren Buffett’s Berkshire Hathaway has sold $75.5 billion in stocks and cut its Apple investment, amassing a cash reserve of $276.9 billion.
Opinions on the situation vary. Some see it as a temporary issue, while others worry it could signal major global events like World War III, U.S. involvement in Israel, or a worldwide recession.
