Endorsed by Gambling911

Bitcoin Prices Plunge on Middle East Tensions

Written by:

Guest

Published on:

Oct/02/2024

Bitcoin (BTC-USD) and related stocks are experiencing a sharp decline in prices following Iran's attack on Israel Tuesday evening. This escalation of tensions in the Middle East has pushed the cryptocurrency market into the red. October is traditionally a positive month for Bitcoin over its relatively short lifespan.

Gamblers looking to withdraw funds from online sports betting and casino sites should consider cryptocurrencies tied to the U.S. dollar such as Ethereum (USDT).

“Surging unrest across the Middle East has propelled oil prices upward and reinforced the dollar’s strength, casting a shadow over bitcoin and other speculative investments,” said Chris Kline, chief operating officer and co-founder of Bitcoin IRA, in an interview with CNBC following the attack.

“In stark contrast to September’s stronger-than-expected performance for bitcoin, October looms as a potential rollercoaster, influenced by the delayed ripple effects of last spring’s halving event and the approach of a divisive American electoral contest,” he added. “Meanwhile, a global monetary tug-of-war is unfolding as various central banks slash interest rates and expand their money supplies.”

Bitcoin has struggled to break its ceiling of $70,000, though the $55,000 threshold has provided strong support for the crypto asset.

By Aaron Goldstein

Aaron is our long time business reporter. He resides in Jersey City, New Jersey.

Business/Financial News

Odds of a US Recession Continue to Rise as Tariffs Still a Threat

The IMF on Thursday said they believe global growth will be hurt by trade tensions but do no expect a recession.

US Recession Betting Odds Give 60% Chance for 2025

Bettors on prediction-market startup Kalshi are assessing the chances of the U.S. economy entering a recession this year at 70%.

Odds on Tariffs - Betting Markets

Facing a global market meltdown, Trump on Wednesday abruptly backed down on his tariffs on most nations for 90 days, but raised the tax rate on Chinese imports to 125%.

Bet on Will the Dow Jones Close Below 30,000 at Market Close Any Time in April

The people who set probabilities for a living are not painting a pretty picture for financial markets.

Looking for the best Pay Per Head Website?

The pay per head service has come to stay, as a great alternative for bookies who want to clear away from having to deal with the hassle and expense of having to establish their own land based operation but want to enjoy the benefits of having their own professional online presence.