Bitcoin rises to $140,000 in 50 days? Bitwise bets on "war rebound"

Gate News bot message, Bitwise Asset Management’s European research department believes that the significant dumping that occurred after the military escalation between Iran and Israel last week may be replaced by a strong Rebound in Bitcoin, similar to the performance of this Crypto Asset following previous geopolitical shocks.

Bitwise Europe cited a “This Week’s Chart” in its weekly report on June 16, which listed the 20 most significant geopolitical risk events since July 2010 and found that Bitcoin “averaged a 31.2% increase 50 days after the events, with a median increase of 10.2%.”

The author points out that “significant geopolitical risk events often present good buying opportunities for Bitcoin and other Crypto Assets.”

The company’s internal Crypto Assets Sentiment Index dipped into negative territory on Friday - the first time it has fallen below zero since May - but had rebounded to a slightly bullish zone by Monday morning. Bitwise attributed this shift to funds flowing back into spot exchange-traded products and the continued weakness of the dollar. At Bitcoin’s current price of around $107,000, a 31% increase would bring its price to approximately $140,000.

Source: NewBTC.com