Study: Bitcoin is a viable option for investors amidst increasing geopolitical uncertainty

A recent study by the University of Pretoria analyzed the response of Bitcoin and other cryptocurrencies to geopolitical developments, such as ETH, XRP, LTC, and XLM. The study highlights the impact of geopolitical risk (GPR) on the price of bitcoin, that is, investors have shifted from the stock market to the bitcoin market, which in turn has led to a rise in bitcoin prices. The report said: "Because investors see Bitcoin as a hedging tool to hedge global uncertainty, rising GPR levels may have a positive impact on Bitcoin prices." According to the analysis data, among the five leading cryptocurrencies Bitcoin has shown significant jumps or price discontinuities, all in sync with the rising level of GPR. According to this study, the rise in the GPR index has led to an increase in the price of Bitcoin, which means that the rising behavior of BTC depends largely on the GPR index. However, other cryptocurrencies do not rely on the GPR index as much as Bitcoin. The study concluded that Bitcoin is a viable option for investors amidst increasing geopolitical uncertainty.