Bitcoin (BTC) and the broader crypto market came crashing down following reports of Israel’s retaliatory attack on Iran. Bitcoin (BTC) dropped below $60,000, while altcoins also suffered significant price declines. This recent development further compounds the market-wide downtrend that plagued the crypto market following Iran’s attack on Israel on April 13.
The fear of escalated tensions in the Middle East has caused panic among crypto investors, leading to a sustained wave of sell-offs and spiraling crypto prices. With Iran expected to respond to Israel’s attack in the coming days, crypto analysts have weighed in on what this could mean for the crypto market, especially amidst a bull market.
War Isn’t Good For Bitcoin
Despite Bitcoin (BTC) quickly rebounding above $60,000, the adverse effects that the Israel-Iran conflict could have on the flagship crypto and the broader crypto market if tensions in the Middle East do not cool off soon enough have become evident.
Commenting on the impact of the geopolitical conflict on the crypto market, well-known crypto analyst Lark Davis stated that “Iran and Israel exchange air strikes is some bad shit.” “Markets are not going to like this. Far too much uncertainty and chaos are possible here,” He added.
Crypto commentator the Kobeissi Letter also noted that the conflict caused Bitcoin (BTC) to drop below $60,000 for the first time in six weeks. Meanwhile, the crypto market as a whole has lost billions in market cap since Iran’s first attack on Israel.
It is also worth noting that the geographical conflict can disrupt this bull cycle if tensions persist. That would mean that Bitcoin (BTC) and altcoins might fail to attain the heights that several crypto analysts had predicted for them heading into this bull run.
ETFSwap (ETFS) Offers Hope To Crypto Investors
The ETFSwap (ETFS) token has stood out as one of the few bright sparks amidst the bearish sentiment in the crypto market. Despite all that has occurred, its value has risen exponentially. That is why crypto investors have turned to the crypto token as a haven to hedge against the fall in the prices of major crypto tokens.
Following Israel’s reported retaliatory attack on Iran, ETFSwap (ETFS) recorded a surge in the number of tokens sold in the ongoing stage 1 of the presale round, with over 3 million tokens sold within four hours. At the time of writing, crypto investors are still aggressively purchasing the ETFSwap (ETFS) token.
In fact, some of the 1 billion USDT tokens minted some hours ago at Tether Treasury are believed to have been rotated into the ETFSwap (ETFS) tokens. It is worth mentioning that ETFSwap (ETFS) also showed its strength when Iran first attacked Israel on April 13. It was one of the few tokens unaffected by the sharp price dips that followed that event.
Therefore, with ETFSwap (ETFS) standing strong once more following Israel’s attack on Iran, crypto investors seem to have gained all the conviction they need to believe that ETFSwap (ETFS) is the future of the crypto market. Given the amount of attention ETFSwap is generating, it could also help keep the crypto market afloat while Bitcoin (BTC ) and altcoins recover from the latest setback.
Meanwhile, crypto experts have also researched and discovered that ETFSwap (ETFS) isn’t just hype. It has a solid ecosystem to sustain this bullish momentum even if a full-blown war were to break out. One of the leading narratives around ETFSwap’s (ETFS) bullish outlook is the ETFSwap platform’s offering, which enables the on-chain trading of exchange-traded funds (ETFs).
Investors recognize how useful this feature could be, especially with how tensions in the Middle East could cause uncertainty in the global markets. Therefore, they might need a platform like ETFSwap to divest any of their traditional assets whenever the need quickly arises.
The ETFSwap (ETFS) token is the passport to access such an offering, so it makes sense that these investors are going all in on it. The demand for the token has continued to skyrocket, and the tokens might even sell out before the scheduled end date. Before then, those yet to invest can still purchase the token at a giveaway price of $0.00854.
For more information about the ETFS Presale:
