Bitcoin's Price Dropped After Iran's Attack on Israel. Is ‘Uptober’ Canceled? - Ep. 713

Unchained

Laura Shin

Tech News, Business News, News

4.6 • 1.3K Ratings

🗓️ 4 October 2024

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

October started with hopes for “Uptober”—a positive price trajectory in October—in the Bitcoin community, since, historically, Bitcoin has performed well this month. But things took a turn when geopolitical tensions in the Middle East escalated, raising concerns about how that could affect Bitcoin’s price this month. In this episode, André Dragosch, European Head of Research at Bitwise, talks about how Bitcoin typically responds to geopolitical shocks, whether this could present a buying opportunity, and how major events like the U.S. elections might shape Bitcoin’s future. Show highlights: How Bitcoin’s reacted to the geopolitical escalations Why André believes this is a buying opportunity How there was a macro capitulation after the beginning of the unwind of the Japan carry trade in August Whether Bitcoin can truly act as a safe haven asset How the clientele of ETFs have changed the market structure for Bitcoin Whether ‘Uptober’ is canceled How Andre expects Bitcoin will perform depending on the winner of the U.S. elections Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com Thank you to our sponsors! Polkadot Mantle’s FBTC Guest André Dragosch, European Head of Research at Bitwise Bitcoin as a Safe-Haven: Hedging Against Geopolitical Risks Links Previous coverage of Unchained on the recent market movements:: Investors Ditch Bitcoin, Scoop Up Gold, as Iran-Israel Tensions Escalate $500 Million Liquidated From Crypto Markets Cools ‘Uptober’ Enthusiasm Unchained: Bitwise CIO Matt Hougan’s thread on how bitcoin & gold have performed BlackRock’s bitcoin report Timestamps: 00:00 Intro 01:14 How Bitcoin's price reacts to geopolitical tensions 03:17 Whether this could be a buying opportunity 08:54 Macro capitulation after the start of the Japan carry trade unwind 11:02Can Bitcoin act as a safe haven asset? 16:12 How ETFs have changed Bitcoin's market structure 20:28 Is ‘Uptober’ canceled? 24:17 Bitcoin’s future based on U.S. election outcomes 28:45 News Recap Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	I think these geopolitical risk events very short-term in nature and they only usually at least historically
0:08.6	they have a very short-term effect which is why I think it's rather a buying opportunity.
0:14.0	Hi everyone, welcome to Unchained, your no-high resource for all things crypto.
0:21.0	I'm your host, Laura Shin, author of The
0:23.9	Cryptopians. I started coming crypto nine years ago and as the senior editor
0:27.6	of Forbes was the first mainstream reader reporter to cover cryptocurrency full time.
0:30.9	This is the October 4th, 2024 episode of Unchained.
0:35.0	FBTC is the fastest-growing Omni-Chain BTC asset this summer.
0:39.0	Join FBTC Points-inspired campaign where you can hold FBTC to earn sparks, lucrative
0:44.6	yields, and token drops all on your Bitcoin.
0:47.4	Pocodot is the original and leading Layer Zero blockchain with over 2,000
0:52.1	plus developers and the Pocodot 2.0 upgrade
0:54.9	will be a massive accelerator for the ecosystem. Join the community at
0:59.4	pogodot. Network slash ecosystem slash community.
1:04.0	Today's guest is Andre Drakosh.
1:06.0	European head of research at Bitwise.
1:08.0	Welcome, Andre.
1:10.0	Thank you so much and happy to be on the show Laura.
1:13.0	Thank you.
1:14.3	The crypto or more specifically,
1:16.4	Bitcoin community came into October
1:18.9	chanting the phrase October based
	...

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