Mike Novogratz, CEO of Galaxy Digital, believes that once the broader market stabilizes after the conflict, Bitcoin will resume its upward trend. He emphasized the importance of a peaceful resolution to prevent further negative impacts on financial assets, including Bitcoin.

Novogratz also mentioned the upcoming Bitcoin halving event as a potential catalyst for a bull run in the cryptocurrency market. Additionally, the possibility of Hong Kong approving spot Bitcoin ETFs further indicates growing adoption of Bitcoin.

The conflict between Israel and Hamas since October 7, 2023, has indeed affected global financial markets and cryptocurrency prices. Bitcoin, which recently reached an all-time high of $73,000, experienced a drawdown to $62,000 due to the geopolitical tensions arising from the conflict.

Wars cost $$$…. Praying we don’t get a bigger one but after the risk flush, $BTC will resume its trend higher.

I pray cool heads prevail and this is not the start of a major regional conflict.

There are so many good things going on in the mid east, it’s just tragic that…

— Mike Novogratz (@novogratz) April 13, 2024

The recent price drop coincided with reports of Iranian drone attacks on Israel, highlighting the sensitivity of financial markets to geopolitical events.

Overall, while the conflict has temporarily impacted Bitcoin prices, there are expectations for a resurgence once the situation stabilizes, supported by factors such as the Bitcoin halving event and increasing institutional adoption.