Bitcoin rose significantly on Friday morning after a US air strike in Iraq and made up for the losses of the previous day. At around 7:00 a.m., the most important cyber currency cost 7,191.74 US dollars, 3.25 percent or 226.36 US dollars more than the previous day. Other crypto currencies also recovered: Ethereum rose 1.40 percent, Ripple XRP 1.60 percent and Bitcoin Cash 3.63 percent.
The trigger for the strong Bitcoin price recovery was probably the US attack on Baghdad airport in the night from Thursday to Friday. The head of the Iranian elite Quds Force and architect of the regional security apparatus, Qassem Soleimani, was allegedly killed in the attack.
On Friday morning, the Pentagon announced that President Donald Trump had authorized the attack, and Soleimani had "actively developed plans to attack American diplomats and officials in Iraq and throughout the region.
The attack triggered an escape to safe investment ports such as Bitcoin. The price of gold and the Japanese yen are also benefiting from investors' risk aversion. The fear of war in the Middle East is also causing oil prices to rise sharply.
The price of a barrel of US West Texas Intermediate (WTI) oil rose by 2.78 percent or USD 1.70 to USD 62.88. At times, US oil was as expensive as it was last in April 2019 at 63.83 US dollars per barrel, while the price of a barrel of North Sea Brent rose by 2.90 percent or 1.91 US dollars to 68.16 US dollars per barrel. At $69.16, the benchmark for oil outside the USA reached its highest level since mid-September
Thanks for this informative post. I was wondering why Bitcoin is considered a "safe investment port"?
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