Bitcoin
Reaches $8,400 After Iran Attacks U.S. Bases in Iraq
The price of Bitcoin hit a new high for this
year above the $8,400 mark shortly after Iranian missiles struck U.S. and
coalition bases in Iraq, causing investors to reallocate their capital into
safe-haven assets like gold and oil.
According to CoinDesk Joshua
Green, head of trading at cryptocurrency trading firm Digital Asset Capital
Management, said the BTC rally was a response to the events unfolding in
Iraq. He was quoted as saying:
- “You
are also seeing oil and gold up strongly.”
Markets have reacted to Iran’s
strike with gold hitting $1,588 an ounce after moving up 0.9% in the last
24-hour period. Oil prices jumped nearly 4% right after Iran’s
retaliation strike, but started moving back down after it became clear the
U.S. wasn’t, at least immediately, responding with another hit. At press time
oil is up 0.6%.
Similarly, Bitcoin surged to
over $8,400 after the attack, but as it became clear an all-out war wasn’t
breaking out its price has since moved to $8,300. It’s up 5.5% in the last 24
hours. The Dow Jones dropped 0.42%, while the S&P 500 dropped 0.28%.
