The Bitcoin prices have risen in the last couple of hours to almost 6% shortly after the news of a US air attack on Iranian military personnel was known.
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Bitcoin price will rise to 400$
A huge green candle has appeared on the hourly BTC-Chart, which makes the value of about a $7,000 increase. According to Tradingview.com Bitcoin fell back today in the Asian Trading with $6.850 to the lowest level in more than two weeks.
This movement was quickly reversed, as a few big green candles placed on the “King of Crypto” for $400 up. The action culminated at the weekly resistance of $7,250 thanks to, which means an increase of almost 6% in just a couple of hours.
On crypto-Twitter is now speculated to be diligent, to what extent is the news from Iran about the US-sanctioned air attack, so that may differ.
Background: During an air attack on the Baghdad international airport in Iraq, was killed early Friday, the Iranian major General Qassem Soleimani, chief of the elite force, al-Qds Force (the Islamic revolutionary guard corps, IRGC). The Iraqi militia commander Abu Mahdi al-Muhandis, according to Al Jazeera killed in the attack.
At the same time, Bitcoin prices soared – and the speculation grew.
“Talking heads are soon to discuss that Bitcoin is a safe Harbor, and because Iran is on the rise. What absolute nonsense. Round Figures are there to be run over in both directions.“
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Safe havens in demand again
Increasing geopolitical tensions in the past, been an upward trend for Safe-haven assets, one of which is the Bitcoin now. In addition to BTC, the crude oil price increased 4% when the news became known.
In the same period the gold price reflected these movements with a price increase.
Industry observers comment on the Safe-haven Asset-Thesis, such as “Crypto Dog”:
“The Bitcoin Market Maker just woke up and said ‘oh shit, we need to pump the, if we want to get the “digital Gold”-These the life.'”
So three of the world’s leading “safe harbors pumped” at the same time – and this suggests that between them there is a clear correlation. Even Tether increased by almost 2% and is traded above its Dollar-peg.
As tensions in the Middle East escalate and America kindled his voracious appetite for war, seems to be an Iranian retaliation is inevitable.
The spectre of a major conflict, emerging especially in times of recession, will undoubtedly increase the demand for Bitcoin, Gold and Oil alike – and the prices will accordingly rise.