Following the Indian Army's 'Operation Sindur' strikes on terrorist bases in Pakistan and Pakistan-occupied Kashmir (PoK), the price of Bitcoin cryptocurrency experienced a significant surge. Bitcoin registered an increase of over 3 percent in a single day on Wednesday.
Bitcoin Cryptocurrency Price: Following the Indian Army's 'Operation Sindur' strikes on terrorist bases in Pakistan and Pakistan-occupied Kashmir (PoK) on Wednesday morning, Bitcoin cryptocurrency saw a sharp upswing. By 2 PM on Wednesday, Bitcoin's price had increased by over 3 percent in the past 24 hours. According to CoinMarketCap, at 2 PM, Bitcoin's price was $96,960.95, and during trading, it even surpassed $97,000.
Around 6:30 AM, Bitcoin's price had risen above $97,000, but subsequently saw a slight dip as news of India's strikes on Pakistan spread. However, as global appreciation for India's action on the strikes grew, Bitcoin experienced a dramatic rally, once again nearing $97,000.
Impact of Operation Sindur on Bitcoin's Price
The primary driver behind Bitcoin's Wednesday surge was the market impact of the Indian Army's Operation Sindur. The Indian Army's missile strikes on numerous terrorist bases in Pakistan and PoK created a positive sentiment within the cryptocurrency investment and trading sector. The success of Operation Sindur and the global response supporting India's actions propelled Bitcoin's price to new heights.
According to CoinMarketCap data, by 2 PM on Wednesday, Bitcoin's price had increased by 3.07 percent. During this period, Bitcoin's price was $96,960.95 and briefly exceeded $97,000.
America's Role and Market Impact
Bitcoin already witnessed a price surge on Tuesday. This was primarily attributed to the United States' engagement in talks with both India and Pakistan. Strong trade relations between the US and India boosted investor confidence in cryptocurrencies like Bitcoin. US President Donald Trump also commented on the situation, describing it as highly regrettable. Following Trump's statement and the US's efforts to de-escalate tensions, Bitcoin investors viewed the situation positively, further increasing the cryptocurrency's price.
Bitcoin's One-Week Return
However, Bitcoin's price has fluctuated over the past week. Its return during this period was slightly above two percent, causing some investor concern. Nevertheless, Bitcoin investor confidence remains b, especially considering the over 25 percent return delivered to investors over the past month. This return has renewed investor confidence in Bitcoin, leading them to invest more, viewing it as a secure investment for the future.
Global political events and the economic climate are the biggest factors influencing Bitcoin's price volatility. Increased India-Pakistan tensions could heighten investor anxiety in Bitcoin. Conversely, if the US and other global powers succeed in improving the situation and reducing tensions, Bitcoin's price could see a sharp rise. Experts believe that in such a scenario, Bitcoin's price could reach $100,000, yielding even greater profits for investors.
