Iran Launches Missiles, Bitcoin Surges to New High in 2020

At around 6:30 am Taiwan time on the 8th, US Department of Defense spokesperson Jonathan Hoffman stated that Iran had launched dozens of ballistic missiles at US and coalition forces in Iraq. The price of Bitcoin also quickly rose from around $8,000 to nearly $8,400 afterwards.

At around 6:30 am Taiwan time on the 8th, U.S. Department of Defense spokesperson Jonathan Hoffman stated that Iran had launched dozens of ballistic missiles at U.S. and coalition forces in Iraq. Following this, the price of Bitcoin quickly rose from around $8,000 to nearly $8,400.

Upon this news, oil prices surged by nearly 5% to $65 per barrel. The price of gold also reached a new high for 2019 at $1,591. At the time of the incident, U.S. stock trading had already ended for the day, with the Dow Jones Industrial Average falling by 0.42% and the S&P 500 dropping by 0.28%.

International events affect the price of gold, and many believe that the rising price of Bitcoin reflects its trend as a safe-haven asset. However, current statistical data still shows a "weak positive correlation" between Bitcoin and gold, so rational investment judgment should be maintained.

Additionally, voices within the crypto community suggest that an increase in Bitcoin value would require a more chaotic world, which is not something to look forward to.

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