### Cryptocurrency News

- Leading cryptocurrencies like Bitcoin and Ethereum experienced significant declines in early October due to rising geopolitical tensions between Iran and Israel.

- Prices have recovered by mid-October, but concerns about market volatility remain.

### Arthur Hayes Analysis

- BitMEX co-founder Arthur Hayes compared the current geopolitical situation to a potential avalanche that could hit financial markets in his blog.

- He identified two scenarios: a limited conflict with minor market disruptions and an escalation that could lead to serious consequences for cryptocurrencies.

### Impact on Mining

- Hayes noted that even if Iran’s mining infrastructure is destroyed, it will not have a long-term impact on the Bitcoin network.

- He compared this to China’s mining ban in 2021, after which the hash rate recovered within eight months.