CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$27,222.00
  • ethereum
    ETH$1,904.52
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    • Opinions
    CryptoPotato
    CryptoPotato
    • Crypto News
    • Margin Trading
    • Guides
      • Bitcoin & Crypto Guides 101
      • Bitcoin For Beginners
      • Editorials
    • DeFi & NFT
    • Buy
    • Language
    • Crypto News
    • Bitcoin For Beginners
    • Cryptocurrency Guides 101
    • Editorials
    • Bitcoin & Crypto Margin Trading
    • DeFi & NFT News
    • Bitcoin Price Analysis
    • CryptoPotato Crypto Fund
    • Ethereum (ETH) Price Analysis
    • Ripple (XRP) Price Analysis
    • Market Updates
    • Interviews
    • Buy Bitcoin with Card
    Home » Crypto News » Bitcoin Price Surges $500 Following Iranian Quds Force’s Leader Assassination

    Bitcoin Price Surges $500 Following Iranian Quds Force’s Leader Assassination

    Author: George Georgiev

    Last Updated Jan 3, 2020 @ 11:17

    Bitcoin’s price went on yet another quick rollercoaster throughout the past 24 hours. It dropped down to about $6,850 yesterday, only to get back up above $7,300 today. Interestingly enough, the move comes following a US airstrike, which had the leader of Iran’s Quds Force’s leader killed.

    Bitcoin Price Surges $500 In Hours

    Yesterday, the price of Bitcoin dropped down to a low of around $6,850 in a violent red candle. Naturally, it had the overall sentiment in a mixed state because it dropped below $7,000, which is a significant psychological level.

    However, it didn’t take long for it to recover and even to increase. Just a few hours later, the price popped with $500, reaching $7,350 on Bitstamp. At the time of this writing, Bitcoin trades at $7,280, which is an increase of a little less than 2.5% for the past 24 hours.

    Bitcoin Price TV
    BTC/USD. Source: TradingView

    As it’s almost always the case, the rise in Bitcoin’s price also pushed other cryptocurrencies in the green, as practically all of the top 20 projects are marking slight but positive increases. ETH is up 2.5%, Bitcoin Cash (BCH) is up 4.5%, while Binance Coin (BNB) charts an increase just shy of 1%.

    Cryptocurrency Market Overview
    Cryptocurrency Market Overview. Source: Coin360

    Bitcoin’s dominance remains stable above 68%, showing that altcoins aren’t yet capable of reclaiming any serious grounds.

    ADVERTISEMENT

    US Airstrike Has Iran’s Quds Force Leader Killed

    Interestingly enough, the sudden move up in Bitcoin’s price coincides with a serious political event that took place at the same time.

    The price started to increase almost immediately after it was reported that an airstrike at Baghdad’s airport, order by the president of the United States, Donald Trump, killed the head of the Iranian Revolutionary Guards’ Quds Force – General Qasem Soleimani.

    As it has been brought up quite a few times before, Bitcoin has shown a negative correlation to traditional markets. Moreover, the Chair of the US Federal Reserve, Jerome Powell, said back in July 2019 that Bitcoin is a store of value like gold. This is perhaps why investors might use it as a hedge in times of political and economic turmoil.

    The recent events are most certainly not a precedent. Last year, when President Trump said he would impose an additional 10% tariff on $300 billion worth of Chinese goods, Bitcoin surged $700, while traditional markets tumbled.

    It’s also worth noting that Bitcoin is not the only commodity that increased its value following the airstrike. Global oil prices also rallied, charting gains by almost 3% in the wake of the event.

    SPECIAL OFFER (Sponsored)
    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.

    You Might Also Like:

    • filb2
      $14,000 By End of 2020 a Reasonable Target for Bitcoin's Price: Filb Filb in Exclusive Trader's Digest
    • flying_above_cover
      Bitcoin Price Has Only Ever Spent 93 Days Above $11,500
    • collapsebitcoin
      $130 Million Bitcoin Longs Liquidated On BitMEX As Price Slipped Below $10,500
    Tags: Bitcoin Bitcoin (BTC) Price Donald Trump United States
    Enjoy reading? Share with your friends
    Facebook Twitter LinkedIn Telegram

    About The Author

    George Georgiev
    More posts by this author

    Georgi Georgiev is CryptoPotato's editor-in-chief and a seasoned writer with over four years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping. Contact George: LinkedIn

  • bitcoin
    BTC$27,222.00
  • ethereum
    ETH$1,904.52
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    Editorials
    The Weaknesses of Ethereum VS Modern Blockchains: Interview With Radix

    The Weaknesses of Ethereum VS Modern Blockchains: Interview With Radix

    Institutions Intend to Buy Bitcoin in Late 2023: Interview With CryptoQuant

    Institutions Intend to Buy Bitcoin in Late 2023: Interview With CryptoQuant

    Why Didn’t ETH Dump After Shanghai? Interview With Nansen

    Why Didn’t ETH Dump After Shanghai? Interview With Nansen

    What is PEPE Coin? Is This the Next Huge Memecoin?

    What is PEPE Coin? Is This the Next Huge Memecoin?

    What is the Ethereum Shanghai (Shapella) Upgrade? Everything You Need to Know

    What is the Ethereum Shanghai (Shapella) Upgrade? Everything You Need to Know

    15 Months Later, What Changed Since November 2021? Interview With Phantom Wallet CEO

    15 Months Later, What Changed Since November 2021? Interview With Phantom Wallet CEO

    Artificial Intelligence & Crypto Guide: Here Are the Top 5 AI Coins

    Artificial Intelligence & Crypto Guide: Here Are the Top 5 AI Coins

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    Footer Logo
    About
    Advertise on CryptoPotato
    About Us | Contact Us | Careers
    Editorial Policy
    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!