Bitcoin price shoots up as Iran strikes at US bases in Iraq.

Iran this morning attacked two military bases in Iraq with more than a dozen missiles. The Islamic Revolutionary Guard Corps (IRGC) has called the attack an act of revenge for the death of their military general, Qassim Soleimani.

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.

 

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.

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Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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