Burning the U.S embassy in Iraq and U.S strike to a Iranian general were the recent developments when we started to 2020.
I am totally out of politics. Being politician is not my style. My focus is impact of geopolitics on crypto.
Bitcoin price was on downtrend before these recent actions , escalated tension in middle east and expecting Iranian retaliate to the U.S assets suddenly turned the direction of Bitcoin.
It was $6871 before U.S strike and today it touched to $7500.
What can effect to Bitcoin price continue to up more ?
1- Iranian response : a weak counter strike will not have major impact on Bitcoin price. A significant response will bring U.S retaliate harder and this escalation can boost Bitcoin price but unfortunately it will have human live cost.
2- Closing Gulf for shipping : Iran & Qatar are the major oil suppliers of China. China strategic oil reserves enough for 90 days. China may prefer to take actings before its economy crippled. This will move BTC price to 6 digit numbers.
3 - No Iranian response : if no hit back, global tension will down and Bitcoin will go back to downtrend. Frankly, this is the my favorite scenario even i am holding BTC. Down BTC price is better than life cost of people.
4 - Impeachment of Potus : Headlines changed with U.S strike but impeachment is still on the table. Impeachment may boost BTC price because of unclear enviroment.
TAs are useful but nowadays global news have more impact on crypto prices.
cover photo credited to : bitcoin.pl