Following Iran’s recent attack on U.S. troops inside an Iraqi airbase, Bitcoin may surge up to $9,000. According to recent reports, the Iranian military launched around a dozen missiles at U.S. troops stationed in the Ain Assad Iraqi airbase. If Bitcoin mirrors the price action it took last Friday, we may see prices up to $9,000 by the end of the week.
As a reminder, U.S. President Donald Trump launched an airstrike at the Baghdad airport on Jan. 3, which led to the death of General Qasem Soleimani who led the Iranian Revolutionary Guards’ Quds Force. At the time, Bitcoin entered a bullish rally with a 6.4% surge. Before the pump, Bitcoin continued its bearish price movement to $6,900. However, the global event led to a major trend reversal which some trading experts believe to be a bull run.
At the time of writing, Bitcoin managed to break heavy resistance at $8,200. Several investors theorized that if Bitcoin broke the resistance, its price would reach at least $9,000 within the week. With a new global conflict on the rise, Bitcoin may continue its rally along with other assets such as oil and gold.
Is World War 3 the price of a new Bitcoin bull run?
Jokes aside, Iran’s attack on U.S. troops continued the recent path towards global destruction. While the U.S. may not react with extreme measures, the world has definitely reached an uncertain time. Coincidentally, the recent event significantly affected the crypto sector’s short-term fate.
Despite growing swiftly in a short time, Bitcoin failed to break the $8,200 resistance level. After the Iranian attack, however, the world’s biggest cryptocurrency managed to break the resistance and reach a daily high of $8,350. How long the bullish price movement will last and how much will it rise remains unknown but escalating tension has set up the groundwork for the continuation of crypto’s 2019 bull run.