My outlook is bullish, but not overly so. I've been studying Bitcoin and noticed something intriguing: unlike stocks, geopolitical events like wars don't seem to have a direct impact on blockchains. That’s the whole point, right? Blockchains are designed to be decentralized and resistant to external forces.
However, just yesterday, Bitcoin saw a significant drop, falling from $63k to $60k. And interestingly enough, this happened right after tensions escalated between Israel and Iran.
It turns out much of the selling pressure came from major players in the market—whales and exchanges. They're essentially manipulating the price by fueling fear around the conflict, causing people to panic-sell. Once the price dips, they swoop in to buy at a discount. It's a crafty tactic they use to accumulate more Bitcoin at lower prices.
Even in a bull market, it's possible to see short-term corrections of 5% to 10%. We saw this in 2021 when, after Biden's election victory, Bitcoin dropped from $60k to $54k within a few hours.