The recent tensions between the United States and Iran have contributed to Bitcoin’s sharp acceleration over the past week. The same forces can send BTC to new highs of all time.
Bitcoin may become a safe haven property.
Upper Cryptocurrency rises in tandem with gold as Middle Eastern tensions grow.
Bitcoin may be in the early stages of parabolic progress.
If you think that the turmoil in Iran and the rest of the Middle East is not related to Bitcoin, think again. The crypto-currency king has been trading bullishly since the US-Iran conflict began. Bitcoin pushed higher every time tensions increased.
Is it just a coincidence or does bitcoin become a crypto enthusiast for a safe haven property hope it will be? My money is on the last one. Smart money may be using Bitcoin. This may trigger the rise of the crypto to new highs of all time.
Bitcoin and gold have ripped since the death of the Iranian general
On January 3, President Trump approved an UAV strike to assassinate the life of an Iranian military official Kassem Suleimani. Since the news of the attack, Bitcoin has risen frantically.
Travis Kling, chief investment officer of the Ikigai Foundation, has revealed that Bitcoin, gold and oil have risen in tandem since the conflict began.
Bitcoin, gold and oil have been rampant since tensions in Iran and the Middle East have been exerted
Bitcoin, gold and oil have been rampant since tensions in the Middle East were triggered. | Source: Twitter
Not surprising to see oil prices skyrocket because of the conflict. A full-scale war between Iran and the US can be ignited at any moment and it could hurt oil production.
The interesting thing is that bitcoin rises with gold. It could be argued that both are considered safe haven assets during the uncertainty wave.
The widely acclaimed CryptoBirb shares this sentiment. The analyst noted how Crypto-York went from $ 5,000 to $ 14,000 when Trump launched the trade war against China. The same is happening now when the US clashes with Iran. CryptoBirb has concluded that big money investors are hedging Bitcoin via options.
The CryptoBirb believes the Middle East conflict is bullish for bitcoin
CryptoBirb believes the Middle East conflict is bullish for bitcoin. | Source: Twitter
Bitcoin can now be in the early stages of parabolic progress
Now that bitcoin is trading above $ 8,000, we are likely in the early stages of a parabolic demonstration. Analysts think it’s possible but caution because it takes more time for accurate conversation.