Iran allegation brought a decline in Bitcoin: Rise in gold and oil

With the geopolitical tension in the Middle East, it brought a big drop in US stocks along with Bitcoin. The largest cryptocurrency fell as low as $62,500. Gold, on the other hand, rose more than 1% within minutes and rose above $2660 again.

Iran allegation brought a decline in Bitcoin: Rise in gold and oil

The special news made by the Washington-based news platform Axios had an earthquake effect on the markets. According to Axios’ Barak Ravid, a US White House official stated that Iran could attack Israel with a ballistic missile.

“The consequences would be very serious”

Here is what the White House official wrote to journalist Ravid:

‘We in the United States have the impression that Iran will shortly launch a ballistic missile attack against Israel. The consequences of a direct attack by Iran would be very serious. We are actively supporting Israel’s defence at this time.’

After this news, the Bitcoin price dropped to $62,500. Gold rose within minutes and reached $2660. There was also an increase in oil prices. Nasdaq and S&P 500 declined again. The CBOE volatility index also reached the peak of the last 3 weeks.

Israel, which killed Hezbollah leader Nasrallah at the weekend, continued to bomb Lebanon and the capital Beirut from the air, and launched a ground operation in certain areas as of this morning.

The ballistic missiles that are the subject of the news are generally known for their long range and destructive effects.

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