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Bitcoin Rallies Overnight as Iran Fires Ballistic Missiles at American Bases in Iraq

  • Bitcoin rallied from USD 8,000 to USD 8,400 overnight as Iranian ballistic missiles hit American bases in Iraq

A dozen ballistic missiles fired from Iran hit American bases in Iraq overnight, including Al-Assad and Irbil. This sparked fears that an all-out war between Iran and the United States could possibly break out, causing gold, oil, and Bitcoin prices to rally, while simultaneously stock futures were hammered. Specifically, Bitcoin rallied from USD 8,000 to USD 8,400 during the missile strike.

This Iranian missile strike was a response to the assassination of top Iranian General Qasem Soleimani on 3 January. Since the assassination tensions between Iran and the United States have been escalating, and Bitcoin has risen from USD 6,800 to USD 8,400 since the assassination, a 23% gain in less than a week.

Initial reports indicate that no Americans were killed in the Iranian missile attack, and as of this writing there is still no sign that the United States will even respond to the attack, allaying fears of an all-out war. This has put the Bitcoin rally and stock meltdown on pause, but Bitcoin continues to hold onto its overnight gains.

 

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