Bitcoin Price Bounce Has Nothing to Do With Iran Situation

The bitcoin price made a swift advance from a 16-day low at $6,853 around 9 pm Eastern Time Thursday night. It reached $7,391 on Coinbase just before noon on the East Coast Friday. Commentators couldn’t help but link bitcoin’s sudden turn to the U.S. airstrike that killed a ranking Iranian general in Iraq.

Secretary of State Mike Pompeo said Trump ordered the strike based on intelligence to disrupt an “imminent attack” on American lives in the region. Iran’s supreme leader, Ayatollah Ali Khamenei, promised “forceful” reprisals against the United States.

A crypto and blockchain contributor at Forbes noted the timing of bitcoin’s price rally with the airstrike.


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