In 2024, several factors have affected the price of Bitcoin including political crisis, macroeconomic changes, and even certain cryptocurrency milestones. However, evaluating its behavior in relation to various world processes, it turns out that Bitcoin is coupled with unpredictable trends. The following report presents an elaborate analysis of how several influential global factors affect the market trends of Bitcoin in 2024.
1. Geopolitical Tensions
Political events are widely believed to cause direct effects in the financial market, including cryptocurrencies. However, perhaps the most intriguing aspect of these tensions has been the Middle East which has been a theatre of political conflict and the manner in which Bitcoin reacted to these tensions has pointed out what Bitcoin is in the world financial architecture.
The Bitcoin price has decreased due to geopolitical crises such as the missile attack by Iran on Israel in October 2024. This event called into question any utilization of Bitcoin as a safe haven currency whenever there is a conflict. In the past, people would invest in assets such as gold during the occurrence of increased geopolitical risk that calls for a rapid increase in the price of gold. Nonetheless, the response of Bitcoin to such an event has not been very bullish at all.
Denne historien er fra Donald Trump's Return: A Tech Revolution or Crypto Catastrophe Waiting to Happen?-utgaven av Analytics Insight.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra Donald Trump's Return: A Tech Revolution or Crypto Catastrophe Waiting to Happen?-utgaven av Analytics Insight.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
The Future of Foldables: What to Expect from Samsung's Galaxy Flip FE
Foldable smartphones have made significant strides in recent years, with companies like Samsung at the forefront of this innovation. Among its offerings, the Galaxy Z Flip has stood out as a pioneering device, combining a compact design with cutting-edge foldable technology.
Samsung One UI 7 Features: Thermal Throttling and User Customization
In one UI 7 based on Android 15, Samsung has brought major improvements in two ways customization and performance optimization.
Why Are Multimodal AI Models Crucial for Industrial Applications?
What do industries need for more accurate insights and smarter automation? The answer is multimodal AI. It analyses different types of data inputs simultaneously. As industries digest data in search of efficiency, multimodal AI is changing the game for operations, streamlining efficiency and sparking innovation in industries worldwide.
Top Cryptocurrencies to Invest in November 2024
Do you want to make the most out of the current cryptocurrency trends? Due to their long-term potential, security, and inventiveness, a plethora of intriguing cryptocurrencies are entering the market in November 2024.
Scaling AI: Strategic Tips for Businesses Facing Data Challenges
With the increased use of artificial intelligence by companies to innovate and be efficient, scaling AI across an organization poses various challenges, especially regarding data. The article presents strategic tips for businesses seeking to overcome these data challenges and scale their AI initiatives successfully.
Top Smartphones Launching This Month: November 2024 Picks
The new lineup of innovative smartphone models is expected to hit the market in November 2024 which will provide customer satisfaction on the basis of different advanced features and designs. Despite the dwindling smartphone sales, brands such as Realme, Oppo, and Xiaomi are bringing out newer models, spelling spectacular advancements in the display, the camera, and processing in the course of the month.
The Latest in Gaming Phones: Red Magic 10 Pro Series
Nubia's gaming-focused subsidiary REDMAGIC last year announced the launch of two new devices the REDMAGIC 10 Pro and the REDMAGIC 10 Pro footnote 2.
Meta's Q3 Revenue Spike: How AI and Advertising Fuel Growth
Meta Platforms, Inc. has had an amazing third quarter of 2024, driven by the power of AI and advertising.
New Snapdragon 8 Elite Phones: Performance, Specs, and Heating Issues
The latest Snapdragon 8 Elite mobile phones are ushering in a new era of smartphone performance. As the flagship processor for many high-end devices, the Snapdragon 8 Elite series promises enhanced capabilities, from faster speeds to more efficient energy management.
Market Trends: How Bitcoin Price Reacts to Global Event
Bitcoin, often hailed as the first true cryptocurrency, has experienced dramatic price swings throughout its existence.
