Amid escalating military clashes between Israel and Iran, the virtual asset market is struggling. There are conflicting opinions regarding the potential impact of the crisis originating from the Middle East on the market.
According to CoinMarketCap, a virtual asset market monitoring site, the price of Bitcoin was recorded at $105,364 as of 8 a.m. on the 16th. This reflects a decrease of 0.15% from the previous day and 0.33% from the previous week. The price of Bitcoin, which had recovered to $110,000 on the 11th and 12th, dropped to $103,000 following Israel's airstrike on Iran.
Experts hold differing opinions on the impact of the conflict between the two countries on the virtual asset market. Notable virtual asset trader Skew noted on his X (formerly Twitter) that Bitcoin is showing a strong rebound, stating there will be no further decline.
On the other hand, John Glover, CIO of the Bitcoin lending firm Red, claimed, according to the virtual asset media CoinDesk, that Bitcoin has entered a correction phase and could drop to the $88,000 level.