UNCHAINED: Bitcoin's Price Dropped After Iran's Attack on Israel. Is ‘Uptober’ Canceled?

With geopolitical tensions rising in the Middle East, how does Bitcoin react to global risk events? And is ‘Uptober’ still on the table? 

October started with hopes for “Uptober”—a positive price trajectory in October—in the Bitcoin community, since, historically, Bitcoin has performed well this month. But things took a turn when geopolitical tensions in the Middle East escalated, raising concerns about how that could affect Bitcoin’s price this month. 

In this episode, André Dragosch, European Head of Research at Bitwise, talks about how Bitcoin typically responds to geopolitical shocks, whether this could present a buying opportunity, and how major events like the U.S. elections might shape Bitcoin’s future.

Show highlights:

How Bitcoin’s reacted to the geopolitical escalationsWhy André believes this is a buying opportunityHow there was a macro capitulation after the beginning of the unwind of the Japan carry trade in AugustWhether Bitcoin can truly act as a safe haven assetHow the clientele of ETFs have changed the market structure for BitcoinWhether ‘Uptober’ is canceledHow Andre expects Bitcoin will perform depending on the winner of the U.S. elections

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Guest

André Dragosch, European Head of Research at BitwiseBitcoin as a Safe-Haven: Hedging Against Geopolitical Risks

Links

Previous coverage of Unchained on the recent market movements::Investors Ditch Bitcoin, Scoop Up Gold, as Iran-Israel Tensions Escalate$500 Million Liquidated From Crypto Markets Cools ‘Uptober’ EnthusiasmUnchained: Bitwise CIO Matt Hougan’s thread on how bitcoin & gold have performedBlackRock’s bitcoin report

Unchained Podcast is Produced by Laura Shin Media, LLC. Distributed by CoinDesk.

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