After Iran fired 180 ballistic missiles on Israel on Tuesday, the bitcoin price fell around $4,000, and this attack escalated conflict in the Middle East.
Prices of gold and crude oil rose as the result of the attack, and that is why they are called the safe-haven. Prices of gold increased by 1.4% on the day of the attack and reached $2,665 per ounce on October 1, closing in on its all-time high, according to the Goldprice website.
Crude oil prices also spiked by around 7%, reaching $72 per barrel.
The US dollar and bond price also spiked due to the missile attack by Iran. Israel’s air defences shot down most of the missiles, as per the reports.
This attack attracted investors to invest in gold due to the uncertainties caused by the attack.
The bitcoin price, on the other hand, fell by $4,000 This is around 3% questioning whether it is safe to assume it as a safe haven.
Israel Prime Minister promised to respond to the attack by Iran. He said, "Iran made a big mistake tonight, and it will pay for it."
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