That's certainly music to the ears of traders and investors, who have been on the long side of the market. Bitcoin and other major cryptocurrencies have emerged as a safe haven hedge against geopolitical events like trade wars, terrorist attacks, and regional military tensions. "This week saw BTC rally almost 10% off the back of Iranian missile strike news," says Nicholas Pelecanos, Advisor to NEM Ventures. One of them is that traders believe that the US/Iran tensions aren't over, and they could worsen at any time. "After the rally through 2019, we have seen BTC roll over and technically go back into a downtrend," he says.

Source: Forbes January 12, 2020 11:37 UTC