Bitcoin investor and billionaire Michael Novogratz has claimed that the current situation between Iran and the US has made Bitcoin and Gold bullish.

Novogratz took to his <a href="https://twitter.com/novogratz/status/1213838431232626690" target="_blank" rel="noopener">twitter handle</a> to reflect on the current situation and believes that the current issues should impact the price of Bitcoin and gold in the future.

Bitcoin decentralized nature means that it is largely unaffected by political situations with many investing in the digital assets to mitigate the economic effects of such a situation.

Novogratz believes that Iraq would call for the expulsion of American troops giving Iran the opportunity to consolidate on its power in the country.  While equating that the Middle East being less stable would lead to more volatility in the market.
<h3>Bitcoin has been bullish during this period</h3>
The current diplomatic tensions between the US and Iran has begun to reflect on the financial markets with Bitcoin enjoying positive movements since it began going as high as $7,400. The growing tensions also reflected in the Iranian Bitcoin market with reports claiming that the coin was priced as high as $24,000.

However, this has been debunked with a local Iranian trader revealing that the acclaimed value ($24,000) was the official rate by the country’s central bank. It is understood that the current Iranian Bitcoin rates was the same with the dollar rate for the coin which is around $7400.

Meanwhile, there have been predictions from several Bitcoin analysts who believe that Bitcoin could use this opportunity to push for a record price high. This is opined by Bitcoin expert Andreas Antonopoulos who admits that this could also have a negative effect on the market.

With the crises not ending soon, it would be interesting to see how the market reacts to upcoming events as they occur. If the <a href="https://www.cryptoknowmics.com/crypto/" target="_blank" rel="noopener">Bitcoin market</a> continues in a bullish ascent then Novogratz would be vindicated with his belief.

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Iran-US situation makes Bitcoin more bullish claims Billionaire Novogratz

I am olowoporoku adeniyi, writer, editor and crypto evangelist, with five years experience in the Blockchain industry.

Iran-US situation makes Bitcoin more bullish claims Billionaire Novogratz

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