NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Unpopular Opinion: Bitcoin Could Still Fall Despite US-China Conflict

Yashu Gola
Yashu Gola
1 year ago
2 mins read
bitcoin, cryptocurrency

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Bitcoin is reportedly attracting haven demand as an escalating conflict between the US and Iran spooks investors. But that does not mean the cryptocurrency is going to register record gains in the coming days.

The bitcoin-to-dollar exchange rate on Monday was trading above a psychological resistance level of $7,500. As of 0300 UTC, the pair established an intraday high of $7,580, its best since December 23. The move brought its total gains up by 10.58 percent, as measured from Friday’s lowest level.

bitcoin, cryptocurrency, US Ira conflict
Bitcoin surges from $6,854 to $7,580 in Just 4 Days | Source: TradingView.com, Coinbase

Geopolitical Narrative against Bitcoin

The first of bitcoin’s spikes came after a price rally in haven markets on Friday – the day on which a US-sponsored drone attack killed Qassem Soleimani, a top Iranian military official. Investors moved into Gold, Oil, Palladium, and into any asset seen as havens in times of geopolitical tensions.

The close proximity between the price rise in traditional havens and that of bitcoin led analysts to correlate the cryptocurrency’s gains with the US-Iran conflict. Billionaire investor Michael Novogratz, for instance, noted that the said geopolitical situation is “bullish” for bitcoin.

The more I analyze this Iranian situation, the more bullish gold and $btc I become.

— Mike Novogratz (@novogratz) January 5, 2020

At the same time, others found the entire narrative flawed. Peter Schiff, CEO of Euro Pacific Capital, stated that there is no evidence of large capital flow from risk-on equity to bitcoin markets. He claimed that speculators pumped the cryptocurrency higher in anticipation that institutional investors would treat it as par with Gold.

“Gold is being bought by investors as a safe haven,” explained Mr. Schiff. “Bitcoin is being bought by speculators betting that investors will buy it as a safe haven.”

Similar Events, Different Reactions

Bitcoin was facing a similar, geopolitical situation back in September last year when Iran allegedly bombed two major oil facilities in Saudi Arabia. So it appears, the cryptocurrency was a mute spectator to the huge global event. Its price closed 24.4 percent down in that month owing to insufficient demand.

Meanwhile, bitcoin’s traditional hedging rival Gold climbed by up to 3.13 percent in spot markets.

gold, bitcoin
Gold rose when faced with a potential geopolitical crisis | Source: TradingView.com, ICE

Unlike Gold, bitcoin’s bullish narrative shifted goalposts. Furthermore, the cryptocurrency’s latest price rally merely brought it already-tested resistance levels. Whether by speculation or true demand, bitcoin needs to close above certain price areas before it could confirm a near-term bullish bias. Top analyst Crypto Michaël weighs:

“I’d like to see breaking the zone between $7,600-7,800. If that breaks, I’m expecting $9,400. But [I] wouldn’t be surprised [by] a test of $7,200 first.”

Bitcoin – thus – is completely in the hands of a technical narrative. Overall, the cryptocurrency remains under a strong bearish bias, still down by more than 45 percent from its 2019 high. Rejection of $7,600-7,800 zone could very well have it retest the support near $6,400.

Tweet123Share220ShareSend
Yashu Gola
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN.

Read more

Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Close

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin

Bitcoin Back In ‘Retesting Phase’ After Key Level Reclaim – The Calm Before The Storm?

After achieving its highest weekly close to date, Bitcoin (BTC) is now attempting to confirm two crucial levels as support...

Rubmar Garcia 3 hours ago

本月最值得關注的5枚迷因幣與預售項目—10倍潛力幣一覽

進入2025年7月,加密貨幣市場重新迎來活躍期。在全球政治動盪與金融格局重組的背景下,資金不斷從傳統市場流向去中心化領域,形成了新一輪的代幣熱潮。在這樣的市場情緒中,迷因幣與預售項目的表現尤為亮眼。 ...

Mark Mak 4 hours ago
Dogecoin

Dogecoin Resistance Walls Ahead: Analyst Flags 3 Key Levels

An analyst has pointed out three key resistance levels for Dogecoin that could be to keep an eye on, based...

Keshav Verma 4 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin price crash

50% Bitcoin Price Crash On The Horizon? Analyst Reveals $60,000 Target

Scott Matherson 55 minutes ago

Станут ли 600 000 BTC точкой невозврата?

lisachaikina 1 hour ago
Strategy

No New Bitcoin Buys: Strategy Takes A Breather After 3 Consecutive Months

Ronaldo Marquez 2 hours ago

Premium Sponsors

Press Releases

  • MEXC Ventures Hosts Successful “Kickstart Your...

    4 minutes ago
  • Alternativni kripto uz DOGE koji bi mogao pretvoriti 650 $...

    46 minutes ago
  • Token6900

    TOKEN6900: Meme Coin Tiềm Năng Với Presale Rẻ...

    50 minutes ago
  • Predviđanje Cijene Bitcoin Hyper ($HYPER) Šta Donosi 2025., 2026. i 2030. godina

    Bitcoin Hyper Gọi Vốn 2 Triệu USD Trong Presale Khi...

    59 minutes ago
  • 3 altcoinuri de urmărit în prima săptămână a lunii iulie 2025

    4 Alt coin Tốt Nhất Tuần Này Dựa Trên Tiện...

    1 hour ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.