Iran had little or no effect on the Bitcoin price, which was already in a strong uptrend when the missiles hit. I'm long Bitcoin but I bought the breakout at 7523, two days ago. People like to pretend Bitcoin is the new 'safe haven asset - like gold - that people run to during scary political events. Hopefully one day it will be, but we're not there yet.
As you can see on my chart, when the missiles hit, Bitcoin and gold rose, while US stocks fell. But traders quickly decided this event wasn't as serious as they'd feared, so stocks quickly rallied while gold fell back to where it started before the attacks. BTC, meanwhile, held its gains, because they were unrelated to Iran, and were simply part of the existing uptrend.
In other words, it was just a coincidence that Bitcoin rose after the missile attacks.
As you can see on my chart, when the missiles hit, Bitcoin and gold rose, while US stocks fell. But traders quickly decided this event wasn't as serious as they'd feared, so stocks quickly rallied while gold fell back to where it started before the attacks. BTC, meanwhile, held its gains, because they were unrelated to Iran, and were simply part of the existing uptrend.
In other words, it was just a coincidence that Bitcoin rose after the missile attacks.
THE CRYPTO TRADER: How anyone can make money trading Bitcoin and other cryptocurrencies
Published by Harriman House.
This link should take you to your local Amazon site.
getbook.at/TheCryptoTrader
Published by Harriman House.
This link should take you to your local Amazon site.
getbook.at/TheCryptoTrader