Author: Michael Tabone, Source: Cointelegraph, Translated by: Shaw Jinse Finance
On Saturday, June 21, the United States launched an attack on Iran's nuclear facilities, causing a brief drop in Bitcoin prices, but rebounding before Sunday’s close, down about 1.27% compared to prices before the U.S. military action.
In the 10 days of June, missiles were flying everywhere, the market was volatile, but Bitcoin held its ground. This is not immunity to war, but rather much more stable than people anticipated due to fear.
Human nature likes to seek patterns, but correlation does not necessarily imply causation. Looking at news headlines, it's easy to think that the developments are due to this or that news. Israel strikes Iran. Iran retaliates. The U.S. drops 30,000 pounds of bunker buster bombs. Bitcoin's price drops to $98,286, and the news headlines sensationalize the correlation.