Bitcoin Price Could Soar as Trump Considers Ending Iran War
The Bitcoin price is currently trading below an important technical ceiling near $78,000, and experts believe its next move hinges on a resolution to the ongoing conflict between the US and Iran. According to The Wall Street Journal, President Trump is privately weighing whether to formally declare the war over, with the possibility of doing so favoring a potential turning point for the entire market.
Oil prices have already surged due to the uncertainty, with Brent crude slipping to $95.20 a barrel and US WTI crude easing to $90.77. This has led some analysts to predict that if the war talk turns real, oil would drop, risk appetite would return, the Fed would get breathing room to cut rates, and Bitcoin could go parabolic.
Trump told reporters on Wednesday that he doesn't think the bombing campaign will continue for too long, but Iran has continued its pattern of drone and missile attacks on US bases. The US did not strike back on Wednesday night, but Trump made clear that the option remains on the table.