BTC was looking bullish after seeing the price surge of 28K and that is the great resistance which can give another high to reach $32K. But what happened to the #bitcoin which is dumped again and the price sets around $27300-27500.

We all know that news and reality really affect the market and shakes the world economy. There are two major reasons for the Bitcoin dump which is the announcement of more than 1400 Crypto ban in UK which is surely not good news.

Another reason is the recent conflict of Israel and Palestine. Both of these two countries have issue with each other from very past and they get into clashes after every month. Unfortunately, this time the conflict becomes serious and the war started between these two countries.

Among these two major reasons the WAR is the most dangerous one for any Financial market. As after the start of the war we see the world economy starts declining again. The petrol prices and other commodities starts declining in Israel.

In the same way, Stock market, FOREX, Crypto and other financial markets starts struggling. Investors are getting panic what to do either sell or hold.

WAR is not good for the #Crypto market because it will take down the prices. Extreme bleeding may be seen in Crypto market if the war continues. Specially when major countries like America, Russia, China and Iran gets involve.

What Lies Ahead for Altcoins?

The bad news is that America is openly supporting Isreal. After this news Russia also gets involve by supporting Palestinian and warn America to stay away from the conflict. Iran also dives in to support Palestine and many other countries.

This is not good at all for any kind of market. That is why Bitcoin is seriously struggling and the price is going down. There should be an immediate war end from both sides in order to protect the world economy and other markets.

If in case the war continues it is expected for Bitcoin to reach at least 14K within few months. So, what will happen with altcoins if Bitcoin reaches there? There will be major downturns for Altcoins which can tend to a huge losses.

What do you think about the recent BTC dump? Is the war the major reason? Do you think the price continues to decline of the war continues? Will be glad to see your answer in the comment section.

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