• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Sensei Inu Logo Sensei Inu Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino
Breaking News: Breaking: Bitcoin Repayment Plan Gets New Deadline From Mt. Gox Trustee
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino
Bitcoinist.com
No Result
View All Result
Breaking News: Breaking: Bitcoin Repayment Plan Gets New Deadline From Mt. Gox Trustee
bitcoin price rise because us iran airstrike

Is Bitcoin Surging Because of Tensions in Iran and the Middle East?

Martin Young by Martin Young
4 years ago
in Bitcoin Price, Bitcoin
0

Bitcoin prices have jumped almost 6% over the past couple of hours as news emerges of a US airstrike on Iranian military personnel.


Bitcoin Price Surges $400

A huge green candle has just appeared on the hourly BTC chart sending the asset surging back above $7,000. According to Tradingview.com bitcoin had slid back to its lowest level for over two weeks at $6,850 during the Asian trading session today.

That movement was rapidly reversed when a couple of big green candles cranked the king of crypto up $400. The move topped out at the weekly resistance level of $7,250 marking a surge of almost 6% in just a couple of hours.

bitcoin btc tradingview chart

The crypto Twittersphere has consequently erupted with speculation over links to news emerging from Iran regarding a US sanctioned airstrike.

An air raid at the Baghdad International Airport in Iraq early on Friday killed Iranian Major-General Qassem Soleimani, head of the elite al-Quds Force which is part of Iran’s Islamic Revolutionary Guards Corps (IRGC). Iraqi militia commander Abu Mahdi al-Muhandis was also killed in the strike according to Al Jazeera.

The news broke at the same time as bitcoin prices cranked and the crypto conjecture started to mount. Not all are convinced though.

“Talking heads will soon be discussing how bitcoin is a safe haven and is going up because of Iran. Which is absolute nonsense. Round numbers are there to get run over, in both directions.”

Talking heads will soon be discussing how bitcoin is a safe haven and is going up because of Iran. Which is absolute nonsense. Round numbers are there to get run over, in both directions. I have a small long so I'll be happy if speculators use the narrative to push prices up.

— Alex Krüger (@krugermacro) January 3, 2020

Safe Havens Back in Demand

Increased geopolitical tensions have historically been bullish for safe-haven assets, of which bitcoin is now considered. In addition to BTC, crude oil prices also jumped 4% as the news broke today.

During the same timeframe, gold prices have mirrored these movements with a price hike according to the charts.

Industry observers have started to comment on the safe-haven asset narrative again with ‘Crypto Dog’ adding;

“The Bitcoin Market Makers just woke up and said ‘oh shit we gotta pump this if we’re going to keep the digital gold narrative alive.’”

Either way three of the world’s leading ‘safe havens’ have pumped at the same time indicating that there is a clear correlation between them. Even Tether has gained almost 2% as it trades above its peg over a dollar.

As tensions escalate in the Middle East again and America reignites its insatiable appetite for war, an Iranian retaliation looks inevitable.

The specter of major conflict looming again just when economies are teetering on recession will no doubt increase the demand for bitcoin, gold and oil alike and prices will increase in accordance.

Did the Iran strike cause bitcoin price to surge? Add your comments below.


Images via Shutterstock, BTC/USD charts by TradingView, Twitter: @krugermacro

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Martin Young

Martin Young

Martin has been writing on technology for 15 years, he has a keen eye for emerging cryptocurrency news, blockchain developments, and market sentiment.

Related Posts

Bitcoin shorters

Bullish Signal: Bitcoin Could Reach $30,000 As BTC Continues To Defy Shorters

28 mins ago
Bitcoin

Bitcoin Dominance Returns Above 50% As Altcoins Encounter Resistance

2 days ago
Bitcoin

Get Ready For Bitcoin’s Next Surge: Analyst Believes ‘This Is The Beginning’

3 days ago
Bitcoin

Bitcoin Miners Lead In Clean Energy Adoption, Surpassing 50%

6 days ago
Bitcoin

Bitcoin Critique: ‘Black Swan’ Author Courts Controversy With Provocative Take

6 days ago
Death cross bitcoin

Dreaded Bitcoin Death Cross Returns: Here’s What Happened The Last Time

7 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit

Press Releases

  • Mark Cuban’s $870K Crypto Nightmare: Could This...

    1 hour ago
  • Chainlink (LINK) and Monero (XMR) Start Their Comeback, and...

    1 hour ago
  • VeChain (VET), Avalanche (AVAX), Polkadot (DOT) Enter...

    6 hours ago
  • Litecoin (LTC), Bitcoin (BTC), and Chainlink (LINK)...

    6 hours ago
  • Is Bitcoin still a good choice for investing? – New...

    6 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino

© 2023 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.