Bitcoin nose dive as political tensions escalate in the Middle East
Bitcoin ( BTC ) price plummeted over 8.4% on April 13 after Iran launched an attack on Israel, escalating the geopolitical conflict in the Middle East.
The cryptocurrency price dropped from around $67,000 to $61,625, wiping out over $130 million in market capitalization within minutes following the attack.
According to Bloomberg, Iran launched drones toward Israel on Saturday. The move is a retaliation for an attack conducted by Israel days before. Israel attacked a diplomatic compound in Damascus, Syria, killing seven Iranians, including two generals.
The sell-off is also affecting other cryptocurrencies. At the time of writing, Ether ( ETH ) was down 9.81% to $2,927, while Solana ( SOL ) sank 15.96% to $129.
This is a developing story, and further information will be added as it becomes available.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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