The rocket attack launched by Iran against Israel yesterday had an earthquake effect on financial markets. Bitcoin fell below $61,000, while gold and oil prices rose. Singapore and Asia’s respected crypto analysis company QCP Capital shared an analysis stating that the overall outlook is good.

“Further escalation could push bitcoin much lower, possibly to the $55,000 level,”

Analysts wrote that the eyes of the world will be on the Middle East for a while longer, this situation may bring some declines at a certain level, but they think that the general trend is good:

“Middle East geopolitics could steal the limelight for now, but the shallow sell-off after the intensification of the conflict suggests that the market remains well bid for risk assets, and this minor setback shouldn’t distract from the bigger picture. However, further escalation could push bitcoin much lower, possibly to the $55,000 level,”

The company’s analysis also stated that Fed chairman Jerome Powell’s positive words on Monday, China’s monetary expansion steps and signs that Japan will enter the process of fighting deflation can also be seen positively in this sense.