André Dragosch, European Head of Research at Bitwise, dives into Bitcoin's relationship with geopolitical turmoil, particularly following the Iran-Israel conflict. He discusses how these events create volatility yet also offer buying opportunities, emphasizing Bitcoin's potential as a safe-haven asset. André analyzes Bitcoin's historical trends and its evolving reputation, underlining the impact of institutional investments and upcoming U.S. elections on price dynamics. Is ‘Uptober’ still on the table? Tune in to find out!
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insights INSIGHT
Bitcoin's Reaction to Geopolitical Tension
Bitcoin initially dipped after the attack on Israel, as some investors sought gold.
This contradicted the "Uptober" prediction, but André Dragosch believes it's a buying opportunity.
insights INSIGHT
Geopolitical Events and Bitcoin Performance
Analysis of 20 major geopolitical events shows Bitcoin often dips initially, then outperforms.
Short-term underperformance is followed by medium to long-term gains, suggesting a buying opportunity.
insights INSIGHT
Market Dynamics During Geopolitical Events
Weak hands tend to sell Bitcoin during geopolitical uncertainty, leading to short-term dips.
Once these sellers are exhausted, the market often finds a bottom, signaling a potential turning point.
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Idealism, Greed, Lies, and the Making of the First Big Cryptocurrency Craze
Laura Shin
The Cryptopians delves into the story of idealists, technologists, and opportunists fighting to bring cryptocurrency to the masses. The book focuses on the founding of Ethereum by Vitalik Buterin and the subsequent crypto fever it created. It introduces readers to larger-than-life characters such as Buterin, Charles Hoskinson, and Joe Lubin, highlighting the personal and professional conflicts that shaped the early days of Ethereum. The narrative explores the booms, busts, and internecine wars within the crypto world, revealing it as a deeply personal struggle to influence the coming revolution in money, culture, and power.
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 escalations
Why André believes this is a buying opportunity
How there was a macro capitulation after the beginning of the unwind of the Japan carry trade in August
Whether Bitcoin can truly act as a safe haven asset
How the clientele of ETFs have changed the market structure for Bitcoin
Whether ‘Uptober’ is canceled
How Andre expects Bitcoin will perform depending on the winner of the U.S. elections
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