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Bitcoin Hits New 2020 High Above $8,400 After Iranian Missile Attack

Bitcoin’s price has hit a new record for 2020, reaching as high as $8,438 before retracing slightly.

At 23:30 UTC on Jan. 7, the world’s largest cryptocurrency by market capitalization began a strong upward trend from $8,080 to above $8,400 before topping out at $8,438 in just over 40 minutes.


Related Reading: How Will Another War in The Middle East Affect Bitcoin?


The move to fresh 2020 highs comes after Iranian missiles struck U.S. and coalition bases in Iraq, causing traders to reallocate capital into safe-haven assets such as gold and oil away from riskier assets.


Joshua Green, Head Of Trading at Digital Asset Capital Management, a cryptocurrency trading firm said the BTC rally was a response to the unfolding events in Iraq.


“You are also seeing oil and gold up strongly,” Green said. Read More...

Bitcoin Hits New 2020 High Above $8,400 After Iranian Missile Attack
Bitcoin (BTC) is rising after tensions increase in Middle East

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