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Cryptocurrency: 2 Coins To Stash Amid The Rising Geo-Political Stress

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Cryptocurrency: 2 Coins To Stash Amid The Rising Geo-Political Stress

The cryptocurrency markets are now bracing for a significant price impact. With the brewing Israel-Iran war looming over, the financial domains of the world are gearing for a transformative phase to enter their lives.

This change may compel significant tokens to note a dip in their prices. However, the market tends to recover and deliver stellar returns with time. Here are the two top coins one should stash during times of crisis for better returns soon.

Also Read: Bitcoin May Hit $38K Amid Israel-Iran Conflict

Two Coins to Stash During Times of Economic Distress

3 coins sitting in a pool of money

1. Bitcoin (BTC)

bitcoin coin in gold stashbitcoin coin in gold stash

Bitcoin is dubbed the king of cryptocurrencies for a reason. The entire crypto market is governed by Bitcoin.

The way BTC moves and maneuvers determines the price path of different altcoins. With the looming Israel-Iran War crisis, the speculatory spree on X hints at a potential BTC dip. This dip, triggered by the war, may compel BTC to hit as low as $38K.

Since Bitcoin helms the entire crypto sector, the aforementioned price dip may be a lucrative time for investors to buy the precious coin before it shoots back up.

The crypto market is known for its volatility. The market tends to heal and recover with time, offering stellar returns. Hence, stashing Bitcoin during times of distress may prove beneficial in the long run.

According to CoinCodex, Bitcoin is also inching towards claiming $100,000 by the end of 2024.

“Bitcoin is forecast to trade within a range of $59,028 and $110,376. If it reaches the upper price target, BTC could increase by 89.01% and reach $110,376.”

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Also Read: Crypto Events: Stay Ahead by Watching Key Events This Week

2. Ethereum (ETH)

Ethereum is another notable cryptocurrency that tends to maintain calm during acute economic distress.

Considering its long-term benefits, the ETH ecosystem is often dubbed a beacon of hope. Its underlying technology and its potential to replicate real-life use cases make Ethereum a great coin to stash during times of economic stress.

As the second largest cryptocurrency by market cap, Ethereum has stretched its roots far and wide, which makes it a coin worth stashing during times of significant geopolitical change.

Bitcoin and Ethereum are two coins that run the sector in its entirety. Once the fluctuations subside, these coins will be the first to amass gains, helping their holders avail significant returns.

According to CoinCodex, Ethereum may see a significant price uptick by the end of 2024. ETH may trade at a staggering price level of $4,136.16.

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Also Read: ASEAN Limits Chinese Imports: Impact on Chinese Yuan?

“Ethereum is forecast to trade within a range of $2,547.81 and $4,136.16. If it reaches the upper price target, ETH could increase by 60.57% and reach $4,136.16.”

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Standard Chartered and Coinbase Expand Institutional Crypto Rails as Banking and Exchange Infrastructure Lock in

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Standard Chartered and Coinbase Expand Institutional Crypto Rails as Banking and Exchange Infrastructure Lock in
Standard Chartered and Coinbase are pushing institutional crypto adoption forward by expanding a global digital asset partnership, signaling deeper integration between regulated banking infrastructure and crypto-native platforms as institutional demand accelerates.
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UK Treasury to regulate cryptocurrency under new legislation

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UK Treasury to regulate cryptocurrency under new legislation

The UK is set to introduce new legislation by 2027 that will bring cryptocurrencies, including Bitcoin, under a regulatory framework akin to traditional financial products.

The Treasury has unveiled plans for these new laws, which will mandate crypto firms to adhere to a specific set of standards and rules. These will be rigorously overseen by the Financial Conduct Authority (FCA).

This move comes amidst a broader push to reform the burgeoning crypto market, which has seen a surge in popularity as both an alternative investment and a method of payment.

Currently, unlike established financial instruments such as stocks and shares, the cryptocurrency sector lacks comparable regulation, potentially leaving consumers with reduced protection.

Chancellor Rachel Reeves said: “Bringing crypto into the regulatory perimeter is a crucial step in securing the UK’s position as a world-leading financial centre in the digital age.
Chancellor Rachel Reeves said: “Bringing crypto into the regulatory perimeter is a crucial step in securing the UK’s position as a world-leading financial centre in the digital age. (Ben Birchall/PA)

The Government said the new rules, coming into force in 2027, will make the industry more transparent and make it easier to detect suspicious activity, impose sanctions or hold firms to account over their activity.

Chancellor Rachel Reeves said: “Bringing crypto into the regulatory perimeter is a crucial step in securing the UK’s position as a world-leading financial centre in the digital age.

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“By giving firms clear rules of the road, we are providing the certainty they need to invest, innovate and create high-skilled jobs here in the UK, while giving millions strong consumer protections, and locking dodgy actors out of the UK market.”

Crypto firms, which can include crypto exchanges and digital wallets, currently have to register with the FCA if they provide services that fall within the scope of money laundering regulations.

The changes will bring firms that provide crypto services into the remit of the FCA with the intention of supporting legitimate businesses.

City minister Lucy Rigby said: “We want the UK to be at the top of the list for cryptoassets firms looking to grow and these new rules will give firms the clarity and consistency they need to plan for the long term.”

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SEC Sets Bullish Tone on On-Chain Markets as Blockchain Settlement Becomes Strategic Priority

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SEC Sets Bullish Tone on On-Chain Markets as Blockchain Settlement Becomes Strategic Priority
The SEC is signaling a decisive push to move U.S. financial markets onto blockchain infrastructure, framing on-chain settlement as a priority upgrade that could reshape post-trade systems and regulatory strategy under Chair Paul Atkins.
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