{"id":410309,"date":"2020-01-09T14:03:46","date_gmt":"2020-01-09T14:03:46","guid":{"rendered":"https:\/\/wncen.com\/?p=410309"},"modified":"2024-06-11T13:36:24","modified_gmt":"2024-06-11T13:36:24","slug":"bitcoin-stocks-trump-iran","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-stocks-trump-iran\/","title":{"rendered":"Bitcoin Dip Continues after Trump Derails Iran Fears; Still Bullish?"},"content":{"rendered":"

Bitcoin continued to decline lower, while equities registered gains, after the tensions in the Middle East cooled.<\/p>\n

The benchmark cryptocurrency plunged 2.44 percent to establish a new intraday low of $7,852.58 on Thursday. The move extended bitcoin’s downside correction by 7.28 percent<\/a>, as measured from the local swing top of $8,469.39 established yesterday.<\/p>\n

\"bitcoin,<\/a>
Plunge in bitcoin rate deepens as investors move back to equities | Source: TradingView.com, Coinbase<\/figcaption><\/figure>\n

The latest losses closely followed mildly positive developments in the ongoing US-Iran conflict<\/a>. On Wednesday, Donald Trump said Iran was backing off from pursuing a full-fledged war with the US. The president’s press briefing relaxed investors’ sentiment in Wall Street \u2013 which started weighing down on perceived haven assets.<\/p>\n

Gold and Oil, for instance, plunged by more than 2 and 4 percent, respectively after Trump eased the Middle East fears. Meanwhile, Bitcoin followed suit and registered fresh lows in both spot and futures markets.<\/p>\n

“All Is Well”<\/h2>\n

What helped investors hold their bias in the risk-on market is also the view that Trump would not enter a war in an election year. That further weakened sentiments in haven markets, all of which were already nearing their exhaustive buy-off levels. Bitcoin, as well, tested a crucial resistance level<\/a> before pulling back lower.<\/p>\n

\n

All is well! Missiles launched from Iran at two military bases located in Iraq. Assessment of casualties & damages taking place now. So far, so good! We have the most powerful and well equipped military anywhere in the world, by far! I will be making a statement tomorrow morning.<\/p>\n

— Donald J. Trump (@realDonaldTrump) January 8, 2020<\/a><\/p><\/blockquote>\n