Bitcoin price reacts with a violent rise amid possible truce between Iran and Israel.
#MarketRebound #NEWTBinanceHODLer
At the beginning of a week that seemed chaotic due to tensions in the Middle East, peace presented itself as an option. The President of the United States, Donald Trump, announced a ceasefire between Iran and Israel, which could end the hostilities. Following the announcement, the price of Bitcoin reacted with a strong rise.
Although losses remain on the weekly chart, recovery is likely not far off. At the time of writing this note, the price of the largest cryptocurrency exceeds 105K. It is worth mentioning that just a few hours ago, the coin lost the 100K barrier.
Now everything seems set for a quieter week for the markets. An important aspect to consider is that so far, none of the involved countries have commented on Trump's statements. It is expected that in the coming hours the respective governments will express their position and even their conditions for the ceasefire.
#BinanceTGEXNY It is important to mention that the missile reserves, both offensive and defensive, of both nations are likely being depleted quickly. In that sense, a ceasefire is likely to be well received by both parties, which now face enormous reconstruction costs. Meanwhile, the price of Bitcoin will have time to mark a new rally that brings it closer to its historical highs.