As the tensions in the middle east continue to escalate, the investors are turning to alternative assets like bitcoin and gold. Currently, bitcoin is trading at just above $8,300. The tensions between the USA and Iran have also caused the price of oil to shot up substantially.
Bitcoin is trading up 7.8%
The price of the leading cryptocurrency is up 7.8% since yesterday. Bitcoin traded above $8,450 before falling to $8,300 at the time of writing. Bitcoin is not the only asset that saw a spike after the US-Iran tensions, the price of recorded a high of $1611. Crypto and derivatives trader Josh Rager tweeted that BTC is looking stronger after the US base attack news, he added that he could continue to rip up through prior targets to short.
$BTC looking strong after the U.S. base attack news
Could continue to rip up though prior targets to short
I canceled all shorts in the $8400s and will continue to keep an eye on the news and charts
Hope everyone overseas stays safe
— Josh Rager 📈 (@Josh_Rager) January 8, 2020
Tensions between the USA and Iran escalate.
Last week US President Donald Trump attacked Iran and killed their military general, Qassim Soleimani, among some other people. Iran then called out for revenge against the USA for the killing of the military general. The price of bitcoin could shot up further as investors turn to more reliable assets that might be immune to political tensions that are continuing to escalate quite rapidly now.
