Iran's attack on U.S. military bases, BTC surged by $ 500, can the "hedging" attribute actually be hammered?

According to a Tencent news report, on the morning of the 8th local time, the US military stationed in Iraq's "Assad Air Force Base" was hit by multiple rockets. Subsequently, the Iranian Islamic Revolutionary Guard immediately issued a statement confirming that it had attacked US military bases with "tens of surface-to-surface missiles". Agence France-Presse said the attack was a "response" from Iraqi pro-Iranian forces to US forces' killing of General Suleimani. In addition, the Pentagon also confirmed that Iran fired "ballistic missiles" at the US and international coalition forces in Iraq.

Affected by this, the global market changed significantly in the morning. Gold rose above the $ 1600 / ounce mark for the first time since April 2013; the domestic commodity futures market opened, gold rose 2.2%, and the market's risk aversion was heating up. WTI crude oil rose to 3% during the day and is now reported at $ 64.51 / barrel. At the same time, in the domestic futures market, fuel oil rose 7% and crude oil rose 3%.

At the same time, global stock markets fell across the board. The Nikkei 225 index fell below 23,000 points, the first time since November last year, and fell 2.6% during the day. US stock index futures tumbled, Dow futures fell more than 300 points, Nasdaq futures fell 1.5%, and S & P 500 futures fell 1.31%.

The digital currency market rose across the board today. Bitcoin jumped nearly $ 500 today and once rushed to $ 8,475, hitting a new high since November 18, 19, temporarily quoted at $ 8,404, leading the mainstream currency. TokenInsight data shows that the activity on the BTC chain exceeded the highest level in January, and the net purchases of USD transactions have increased significantly.

WX20200108-093012 @ 2x Data source: QKL123

In this regard, some analysts hold different opinions. Earlier, LongHash analyzed the data of Iran's OTC trading platform LocalBitcoins and the search enthusiasm of Bitcoin keywords on Google. According to the analysis, although many media believe that the price of Bitcoin in Iran has skyrocketed due to the crisis, but it does not seem to comply. The actual situation. According to Iran's actual exchange rate, the price of Bitcoin does not seem to be much different from the average price of Bitcoin worldwide, and may even be lower than the average price. According to the current trading volume of LocalBitcoins in Iran, it is almost the lowest point in history. It is almost close to no transactions, so a small number of transactions are not representative. Even from the data of Google Trends, Bitcoin does not seem to have triggered extra public enthusiasm. Therefore, we do not have any reason to believe that Bitcoin has been sought after in Iran due to this incident, and has caused people's enthusiasm for buying.

However, the recent price increase of Bitcoin has coincided with the time of the Iranian crisis, including the rocket attack in the early hours of this morning, so it cannot completely deny its safe-haven nature. Whether the hammer can be implemented remains to be seen.

The situation in the US and Iran continues to escalate. How does Bitcoin behave? let us wait and see.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

Look at IEO, the dilemma of markets, exchanges, project parties and investors

"IEO's projects are flying, do you want to follow?" Wei Dong entered the currency circle for more than...

Blockchain

Starting to decentralize the game platform: Is it a good day to break the monopoly?

On May 31 , Xiao Xiao invited the founding partner of Xingyao Capital, Liu Jiang, founder of Xingheng Education, Chen...

Blockchain

Hilariously Hot Crypto Drama: FTX and Genesis Global Trading Settle for a Cool $175 Million

Bankruptcy Court Approves $175 Million Settlement between Cryptocurrency Companies FTX and Genesis in New York

Blockchain

FTX Founder’s Shady Messaging Moves: The Signal of Trouble

Sam Bankman-Fried's Criminal Trial is Underway

Blockchain

"Black Horse" Exchange FTX Receives Liquid Value to Participate in Round B Investment, The Next Crypto Unicorn Is Coming Soon

The Hong Kong-based FTX exchange appears to be the latest unicorn cryptocurrency company with a valuation of $ 1 bill...

Blockchain

Exchange captures EOS super nodes

The rise of Staking's economy has driven the business of PoS mining and has broken the power structure of EOS su...