CNN, among other sources on the ground in Israel, reported the sight of scores of missiles accompanied by sirens blasting across the country. The Israel Defense Forces (IDF) claim that 180 missiles Iran fired were many of which were intercepted. IDF spokesman Rear Admiral Daniel Hagari said the incident was “serious” and cautioned of “serious consequences.” Though there was a barrage, no injuries were first recorded; US Secretary of State Antony Blinken judged the attack to be “effectively defeated.”

Regional Escalation and Iran’s Retaliation

Following Israel’s attack on Hamas in Gaza, where tens of thousands of Palestinians have been dead and most of the area has been devastated, the assault occurs amid increased tensions. Over the past year, Hezbollah, a militant organization from Lebanon supported by Iran, has also been firing missiles towards Israel. As Iran’s Islamic Revolutionary Guard Corps (IRGC) said the attack was in retribution for the killing of Nasrallah, Tuesday’s missile strike represents a dramatic escalation.

Iran’s envoy to the United Nations detailed the launch as a reaction to the “terrorist acts” of Israel and cautioned of a “subsequent and crushing response should Israel retaliate.” Given this, Tel Aviv and other cities have warned their citizens to remain near shelters; tensions clearly are growing all throughout the nation.

Impact on Bitcoin Prices

Since Iran’s missile attack began, the price of Bitcoin has fallen from $63,000 to $61,110, reflecting the economic uncertainty tied to the escalation of conflict in the Middle East.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Iran Strikes Israel Following Nasrallah’s Death appeared first on Coin Engineer.

Bitcoin fell to as low as $59,700 within the last day. However, investors scooped it up, causing the price to soar back above $60,000. As of 12:30 a.m. ET on Friday, the BTC price was $62,000, according to CoinMarketCap data. Keep in mind that bitcoin has fallen in value by 11.60% over the last seven days.

The largest digital asset has a market capitalization of $1.23 trillion and has increased trading volume by 2.34% over the last 24 hours. In March, the highest point reached by Bitcoin was $73.750, and its price has fallen by 15,66% since then.

According to Bloomberg, panic that was spurred by unconfirmed reports of explosions in Syria, Iraq, and Iran made investors divert their attention from riskier assets such as shares and virtual currencies and focus mainly on stable ones like bonds, gold, and the US dollar.

While the Bitcoin halving event on Friday is bringing the cryptocurrency’s supply down and, along with that, introduces other major chain-related changes, directly or indirectly, it is getting ignored due to the rocketing tensions in the Middle East.

OSL SG Pte says that it is the bloodshed that continues to exist between Israel and Iran. Stefan von Haenisch, who is the head of trading, can lead to “general risk-off sentiment across crypto.”

The post The Impact of Geopolitical Events on Cryptocurrency Markets appeared first on Coin Engineer.