The attack by Iran on Israel this Saturday night did not leave any casualties, but it did provoke sharp falls in bitcoin and other cryptocurrencies
Bitcoin was trading at around $70,000 this Saturday, but tensions in the Middle East caused the price of this cryptocurrency to drop to around $62,000, which represented a drop of approximately 8%. This massive sell-off of bitcoin was the most pronounced in over a year, according to Bloomberg.
Fortunately for its buyers, the currency gradually recovered to reach $64,337 at the moment.
Other currencies such as ether also experienced significant drops, up to 10% in some cases.
Digital currencies were some of the only risk assets traded over the weekend, and the drop was considered an initial reaction to the escalation of tensions in the Middle East.
Investors, in times of war tensions, tend to be more cautious. Their risk aversion increases, and as a result, many choose to stay away from assets considered risky.
