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Bitcoin Price war
Bitcoin Price war

Who said the war in Iran would not influence the Bitcoin price? It’s now 8,316 USD…

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Fintech Zoom – War `s Bitcoin Price – Bitcoin’s rapid price hike came as two US bases were attacked in Iraq by more than 12 ballistic missiles.

At the time of writing this article (09:31 UTC 2020), Bitcoin price is 7,316 USD.

According to CNN, Iran launched a ballistic missile attack at two Iraqi bases which house US troops, in the early hours of Wednesday morning local time. More than a dozen missiles struck the al-Asad airbase and another base in Erbil.

So far it seems that there were no casualties. US military sources said troops were given enough warning to reach shelters before the missiles struck.

The attacks were Iran’s response to the US killing last week of top Iranian General Qasem Soleimani in Baghdad. Iran has called that attack an “act of war” and “state terrorism” and vowed a response.

Investors are on high alert for any signs of a clash between the United States and Iran that threatens oil supplies in the Middle East. Crude prices retreated earlier this week on hopes that energy supplies won’t be impacted by the tensions.
A spike in oil prices could deal a blow to the world economy, which is already struggling from weak manufacturing activity. Dow (INDU) futures briefly tumbled more than 400 points during Asian trading hours on Wednesday. Dow futures were last down more than 150 points.

 

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Oil prices climbed sharply Wednesday after the Pentagon said Iran launched more than a dozen ballistic missiles against bases in Iraq that house US troops, amplifying concerns about a spiraling tit-for-tat conflict between the United States and Iran.

US crude was last up more than 1.2% to over $63 a barrel, coming down slightly from a 4% spike earlier.
Brent crude, a global oil benchmark, was last up 1.6% to about $69 a barrel.
The attacks were Iran’s response to the US killing last week of top Iranian General Qasem Soleimani in Baghdad. Iran has called that attack an “act of war” and “state terrorism” and vowed a response.

 

READ  Bitcoin 's price jumped 458.67 USD in 3h 49m , rising to a 30-day high of 7,986 USD.

Also AlJazeera analysis:  Attention has turned to the Straits of Hormuz in Iran, through which 34 million barrels of oil are shipped to the US every month, Al Jazeera’s Ali said.

“If there had been an attack on or a blockage of the straits, then we would see oil prices shoot up to $150 a barrel and that would be catastrophic for the global economy. But what we have seen is a very limited air strike on bases in Iraq and that has been somewhat a relief to the markets,” he said.

“Things have calmed down and hopefully it will remain that way,” Ali added.

The price of gold initially shot past $1,600 per ounce ($45,359.20 per gramme) on the spot market but later pared gains to trade at $1,593.56 per ounce ($45,176.63 per gramme), as investors rushed to safe-haven investments

Although Asian shares and US treasury yields plunged on Wednesday as investors feared that military action between Iran and the US could escalate, they later clawed back some losses.

MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.5 percent around 04:45 GMT, having dropped more than 1 percent earlier in the day. China’s blue-chip CSI300 index was 0.48 percent lower.

Japan’s Nikkei was down 1.29 percent, also paring earlier losses of more than 2 percent, while Australian shares clawed back from a more-than-1 percent drop to shed 0.18 percent. US S&P500 e-mini stock futures, which had earlier tumbled nearly 1.7 percent, were down 0.28 percent.

“It’s a very classic risk off” market response, said Rob Carnell, Asia-Pacific chief economist at ING in Singapore.

“This is the Iranian response to the killing of Soleimani. We now have to see what the US response to the Iranian response is. This looks as if it could escalate,” he said.

The sharp sell-off in riskier assets, which includes stocks, was accompanied by steep drops in US Treasury yields as investors flocked to safety. Benchmark 10-year Treasury notes yielded 1.7188 percent, down more than 10 basis points from a US close of 1.825 percent on Tuesday.

“If you see US treasuries rallying a bit this morning, expect them to rally quite a bit further should there be a forceful response from the US, which I’d imagine there would be … from a market perspective I think this one could run and run,” Carnell said.

The US dollar also plunged against the yen, with the Japanese currency touching its strongest point against the greenback since October. The US currency was last down 0.69 percent against the yen at 107.67.

READ  Bitcoin Price December 20

 

 

Bitcoin Price Influencers – War `s Bitcoin Price

 

At January 6:

It remains unclear, then, exactly why bitcoin jumped. Talks surrounding BTC’s use case as a safe haven asset are dominating investor channels amid the backdrop of the Iran/US tensions that have been ongoing since Jan. 3.

Read: Bitcoin ‘s price jumped 458.67 USD in 3h 49m , rising to a 30-day high of 7,986 USD.

According to CNN, 11 hr 52 min ago, US notifies Iraq of troop movement, but does not confirm withdrawal, official says

The US has notified Iraq of the repositioning of some of its troops, a US official with direct knowledge told CNN today.

The US official in Baghdad told CNN this is just a notification about repositioning of troops from one place to another within the region. The official said these notifications are standard based on a number of movements. “In particular, tonight we were going to have a lot of helicopters flying through Baghdad and it shows that we operate within the laws of the government of Iraq.”

The official continued, “We are still very much partnered with the Iraqi security forces and while our training mission and operations to defeat ISIS in Iraq have paused we look forward to resume those operations at a moment’s notice. Most of these troops being repositioned are involved in the training mission are in administrative roles.”

Another US official confirmed the authenticity of a letter viewed by CNN from the US Department of Defense to the Iraqi Defense Ministry, which discusses the movement of troops in the region.

At January 4:

Read Here: Bitcoin price rises to 30,498 USD in Iran

READ  Bitcoin Price December 29

And: Is there a connection between Bitcoin Price and a possible war in Iran?

 

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Mia Turner

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