Will Bitcoin price keep growing?
Attack on Iranian general Soleimani increased geopolitical tensions in the Middle East. This fact led to increased demand for cryptocurrencies. Bitcoin could take advantage of the situation for few more days.
Bitcoin was traded for 6600 dollars before Christmas holidays. Its current price is 900 dollars higher. In last few days the price grew in 5 % as a reaction to American drone attack on Iranian general Kasim Soleimani. As such the most popular digital currency received another growth impulse after geopolitical tensions in the Middle East.
Bitcoin’s reaction to the attack was similar to situation with gold. It is generally perceived as safe investment during periods of inflation or crisis. Some even claim that Soleimani’s death could affect bitcoin demand among Iranians who became interested in bitcoin in recent years. One of the reasons why Iranians became familiar with bitcoin was Donald Trump’s administrative imposing sanctions on Teheran. Bitcoin can be used an unofficial currency bypassing the sanctions.
Bitcoin price can keep growing for few more days, at least to the moment when situation in Iran either calms down on escalates.
