Breaking: Iran Avenges US Attacks Shooting up the Price of Bitcoin and Gold

By Nivesh Rustgi
January 8, 2020 Updated July 24, 2020
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Airbases Attacked at Iraq (Source: CNN)

Iran attacks the US troops stationed at two military bases in Iraq this morning with more than a dozen missiles. The complete causalities and the injury reports from the Iraq and the US Officials is still pending.

The Islamic Revolutionary Guards Corps (IRGC), an elite wing of the Iranian military calls the attack a revenge for the death of their military general, Qassim Soleimani, earlier this week.

The price of Gold and oil shot up with long wicks on daily charts; Gold recorded a high of $1611.

Gold/USD 1-Day Chart (TradingView)

Bitcoin [BTC] price broke above $8450 as escalating global tension seems to be having a positive effect it’s demand as well. It is trading 7.8% since yesterday; the price of Bitcoin [BTC] at 2: 30 hours UTC is $8356.

BTC/USD 1-Day Chart on Bitstamp (TradingView)

Derivatives and crypto trader, Josh Rager tweeted,

$BTC looking strong after the U.S. base attack news

Could continue to rip up though prior targets to short

I canceled all shorts in the $8400s and will continue to keep an eye on the news and charts Hope everyone overseas stays safe

If the US further escalates the issue with an aggressive response, the condition will worsen in the affected areas. The adversities will affect the world citizens as large as well, as the tax payers would eventually pay for the war expenses.

Do you think the US will be content after the first attacks or it is just the beginning? Please share your views with us.  

Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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