The world’s flagship crypto asset saw its value surge from the $7,000 region to the $8,000s this week, topping just over $8,430 within one hour yesterday. We can see that Bitcoin is more and more valuable to traders but also a dominant asset in many countries which are suffering from war-related tensions.
One of them is Iran. The latest price action of BTC, as the crypto news suggest, show that the Iranian government decided to launch a missile attack on an Iraqi military base housing the American troops.
Still, what is worth mentioning is the fact that Iran’s actions were prompted by the United States president Donald Trump and his decision to eliminate the Iranian general Qassem Soleimani – who is a controversial figure in the West but was loved by the masses in his home country.
Bitcoin is more and more valuable in Iran and the overall value of the cryptocurrency is now up by around 15% this year. All of this makes the Bitcoin price news very popular, but since the US president Trump downplayed the situation in Iran at a White House press conference (saying that the Middle Eastern power is ready to stand down) the currency price slid back down to under $8,000.
That said, Bitcoin is more and more popular in Iran and a whole host of prominent figures are getting to know this. These include Galaxy Digital’s Mike Novogratz and the Digital Asset Capital Management’s Joshua Green – both of whom seem to agree with the notion that the aforementioned rally was definitely linked with the events that recently unfolded in Iraq.
What’s also worth mentioning is the fact that Bitcoin’s price increase has also followed an increase in altcoins. The Dash news today show that Dash is the top performing altcoin with a 16% increase, followed by Litecoin (LTC), Ethereum (ETH) and XRP.
The analyst Matti Greenspan who is also the founder of QuantumEconomics.io was recently quoted as saying:
“The resemblance between digital gold and the physical stuff is uncanny. They’ve basically been moving in a very similar pattern throughout most of last year.”
At press time, the prices of cryptocurrencies are standing still and preparing for new rises or potential downfalls.
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