Bitcoin’s New Bull: The Conflicts Between USA And Iraq Is Strengthening The Price Of Bitcoin

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Parth Vig
Parth Vig is a Management student, and a keen observer of Cryptocurrency and blockchain technology, his interest in writing brings him to thecoinrepublic.com, He believes that he has many ideas that he pens down and he feels it would be a great asset for any kind of creative writing.
  • The ongoing conflict between the USA and Iraq is adding to the rise of Bitcoin’s price.
  • The USA’s embassy based in Baghdad in Iraq was attacked by advanced Katyusha rockets inside the green zone of the embassy.
  • The large scale trading of Bitcoin at this rate has spewed the rise in the price of Bitcoin and has created a new bullish momentum.

The ongoing conflict between the USA and Iraq is adding to the rise of Bitcoin’s price. It has most recently topped the charts and has broken the previous resistance levels. This period alone has added to the increase of about 4% in Bitcoin’s price.

USA’s embassy based in Baghdad in Iraq was attacked by advanced Katyusha rockets inside the green zone of the embassy; however, no organization or group has claimed responsibility for the attack.

This attack has caused chaos in the economic market, and Gold prices have reached new highs of more than 0.7% than the previous record of $1,580 per ounce. The stock and commodity markets are falling at a rapid pace, causing disorientation, S&P 500 futures contract tumbled down by 1%, Nasdaq 100 futures fell by 1.3%, and Dow Jones industrial average future lost about 1%.

From the start of 2020, the USA and Iraq have been on war since the assassination of Iraqi general Qassem Soleimani; on the verge of world war, the markets and world economy saw a severe crash.

With the risk of falling values of many assets, many renowned investors and finance heads have turned to the digital gold, and there is an increased number of individuals investing in Bitcoin.

The large scale trading of Bitcoin at this rate ahs spewed the rise in the price of Bitcoin and has created a new bullish momentum. Since the commencement of these attacks, the Bitcoin has been on the rise since then. The attack on the USA embassy in Baghdad gave pushed the Bitcoin of about 4%.

Bitcoin is now trading at an average bull rate of 3.68%, with a price of $3,637.53. The market cap acquirement now stands at $157,065,794,237, with a circulating volume in the previous 24 hours at $23,576,902,986. The current supply stands at 18,184,100 BTC.

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