Israeli attack downs crypto but Bitcoin remains above $100,00

The Israeli attack on Iran, which was preceded by the evacuation of US security personnel in Iraq, sent the stock markets and cryptocurrencies deep into the red on Friday. Once again, geopolitical movements are the main reason for the stock market movements. Bitcoin had a relatively easy time trading above $100,000, a level it has held for more than a month already.

Just like Wall Street, the European stock markets also plunged into the red on Friday. Investors are avoiding risks as they await a response after Israel’s military attack on Iran and contemplate the risk of further escalation in the region.

“The Israeli attacks on Iranian nuclear sites and military infrastructure are a very serious escalation, which will lead to a jump of the oil price,” summarized Bernard Keppenne, chief economist at KBC bank.

Oil, Bitcoin and gold

Oil prices did indeed rise by some 6 percent on Friday. Earlier in the day, the movements were even bigger.

For Bitcoin, the fall was all in all quite limited, and it was striking to see that the largest digital currency had no trouble at all staying above the $100,000 level.

Investors also rediscovered the classic safe haven, gold. The precious metal jumped again to $3,400 and is thus close to the April record.