Among them the Iranian parliament has approved the closure of the Strait of Hormuz, an important shipping route for goods located near Iran maritime borders. Almost bout 20% of the world oil and gas is supplied to various countries of the world through this shipping route. If Iran closes this road, it will have a far-reaching negative impact on the global economy. What is your opinion?
I will expect the oil price to increase but I do not know how it can affect the global economic. It is good to know that Iranian parliament has approved the closure of Strait of Hormuz but the Iranian top leaders still need to make the decision to either close it or not, but they have been given approval that if they want to close it they should.
I do not know what United States is telling China, that they should tell Iran not to close the Strait after violating the international law by evading a country to bomb their nuclear sites.
The US has started diplomatic activities with China to prevent the closure of the Strait of Hormuz and in the meantime Iran has launched a missile attack on the US Al-Udeid Air Base in Qatar. Most analysts may have thought that the price of Bitcoin may more fall about increasing war situation. But Donald Trump has announced that Israel and Iran have agreed to a ceasefire which has resulted in the price of Bitcoin going up trend again.
I think that global factors will continue to affect the market situation on a regular basis, so you should apply your own strategy in determining your investment strategy, such as accumulation Bitcoin through discretionary Income and regardless of its price.
https://www.reuters.com/world/middle-east/trump-announces-israel-iran-ceasefire-2025-06-23/ It is probably true that when Trump announced that Iran and Israel had agreed to a ceasefire, coins in the crypto market started to surge, meaning their prices started to increase. Moreover most importantly, they agreed to a ceasefire which resulted in a significant drop in oil prices, which may have had a positive impact on the global economy it has even had a positive impact on the Bitcoin market. Meanwhile the price of Bitcoin has suddenly touched $106K.
We saw in the newspaper that according to the US oil benchmark, the price of Texas Intermediate crude oil had fallen and the price of a barrel of that oil was $64.50. So it goes without saying that the Bitcoin market is now breathing a sigh of relief after the US President's ceasefire announcement.