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Bitcoin exceeded the maximum set in November

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.

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