The Currency Analytics
By Maheen Hernandez
So, What’s the Current Price of Bitcoin?
What Doe This Mean to Bitcoin?
As tensions between the U.S. and Iran start to fade, does it mean that Bitcoin will face no trouble?
Of course, the recent tensions between the two countries not only took the global political stage, but also to the traditional safe haven assets.
So far this year, the Bitcoin price is up to 15%, which added 5% to the value during the last 12-hour trading period.
Yesterday, the price of Bitcoin has fallen back after U.S. President Donald Trump commented to the situation in Iran and suggested that, “Iran appears to be standing down.”
Rockets have been fired at the military facilities and U.S. embassy in Baghdad. The BTC price dropped to under $8,000 each after the White House speech of Trump.
Now, Bitcoin is trading down under 5% with its current price of $7,930. This suggests a remarkable decline from the recent peak of $8,400.
The said rally began early this January after the killing of Iranian General Soleimani. It slowly gained momentum until Tuesday as the bulled propelled the cryptocurrency past…
Despite that kind of selling pressure, it seems like the U.S. still have no plans in retaliating against Iran.
Due to the retrace from recent highs of BTC, there goes an extreme bearesh pattern formed on the long-term candle.
According to Crypto Analyst Big Chonis, “$BTC - 3-day candle closes later today, looking like a shorter than a hammer, but close above EMA26 support would be notable…still a way…
Both cryptocurrency and Bitcoin watchers continue to have a speculation whether the BTC price can perform in similar way to the traditional safe haven assets.
According to Quantum Economics Founder Mati Greenspan, “The resemblance between digital gold and the physical stuff is uncanny.”
He also noted along with the latest rise of BTC that, “They’ve basically been moving in a very similar pattern throughout most of last year.”