BlackRock Reveals When Bitcoin Price Will Rise For Events Like Iran-Israel Incident – ​​Here’s The Expected Date

BlackRock Reveals When Bitcoin Price Will Rise For Events Like Iran-Israel Incident – ​​Here’s The Expected Date
BlackRock Reveals When Bitcoin Price Will Rise For Events Like Iran-Israel Incident – ​​Here’s The Expected Date
Bitcoin (BTC) following the latest Iranian attack on Israel was predictable, according to a previous report from asset management giant BlackRock.

BlackRock Says Bitcoin’s Geopolitical Volatility Is Temporary

In the recent report, BlackRock highlighted that geopolitical events usually trigger temporary market volatility, but Bitcoin tends to rally like other safe-haven assets like gold.

Bitcoin, currently trading at $61,190, down 2.3% from the day before, has yet to fully recover its losses, but BlackRock remains optimistic, saying it’s just a matter of time before the largest cryptocurrency by market cap of $1.2 trillion regains momentum.

In a nine-page report released in September, BlackRock CEO Larry Fink highlighted Bitcoin’s resilience to geopolitical shocks. The report presents data showing that Bitcoin often rises by double digits 60 days after major geopolitical events. For example, in the 60 days following a U.S. airstrike on an Iranian commander in 2020, Bitcoin rose 20%, while gold rose 6% and the S&P 500 fell 7%. Similarly, the price of Bitcoin saw a significant increase after Russia’s invasion of Ukraine in 2022.

BlackRock, the $10 trillion investment firm that runs the industry’s largest spot Bitcoin exchange-traded fund, has asked investors to maintain a “modest allocation” to Bitcoin as a hedge against geopolitical risks. The company’s analysis indicates a potential price recovery by November 30 following recent unrest in the Middle East.

*This does not constitute investment advice.

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