Middle East Turmoil, Bitcoin Price Drops to US$103 Thousand
Iran conducted a retaliatory strike this morning, Friday (06/13), after Israel attacked the Natanz nuclear facility in Tehran, Iran. This caused crude oil prices to rise by 6% and the price of Bitcoin to drop to US$103 thousand after previously reaching US$109 thousand.
This turmoil also caused gold to rise to US$3,400 per ounce as NASDAQ 100 futures contracts continued to decline by 2%. The Taiwanese dollar strengthened even though its stocks, Taiex, are now down more than 1%.
“This could increase the flow of funds to safe-haven currencies like the yen and potentially to floating currencies of major oil producers like the Norwegian Krone,” said Head of Global Market Research at Nomura Singapore Ltd. Robert Subbaraman.
