Bitcoin exceeded the maximum set in November
The cost of bitcoin has crossed $ 8,000 point. Interest in cryptocurrency arose against an escalation of the conflict in the Middle East.
- Based on CoinMarketCap data, the value of the cryptocurrency is $8391 as of January 8.
- According to Emmanuel Goh, the Head of Skew, the increase in bitcoin cost happened due to the tense situation between the US and Iran.
- The price hike occurred for natural reasons. Specifically, due to the “January effect”, when investors return from the New Year’s weekend.
- On January 7, bitcoin soared for 7.3%. It was the biggest leap in one day since December 2018.
- As the volatility of cryptocurrencies decreases, investors more often begin to consider it seriously.
Context. Iran attacked American troops. Namely, it set off about ten missiles at al-Assad airbase and in Erbil (which is in Iraq). The attack was a response to the assassination of General Qasem. The reaction of the market involved the rise in oil prices and falling indices.