It appears that the largest cryptocurrency, Bitcoin is scoring higher today. Notably, the most outspoken Bitcoin bull in the crypto space, Michael Novogratz believes bitcoin reacted to the global uncertainty.
Bitcoin Hits at over $29500 in Iran
At the time of reporting this, Bitcoin is soaring with more than 2.30 percent over the past 24Hrs. Owning the market capitalization of $134,023,152,967, Bitcoin is currently valued at $7388 against USD. Although the crowning cryptocurrency remained to see the all-time high (ATH) of this year, the billionaire co-founder of crypto merchant bank Galaxy Digital termed bitcoin as “Digital Gold”.
As the USA v/s Iran attack is on hype, it appears that the sale price of Bitcoin in Iran is soaring to a new high. As per the localbitcoins.com, one bitcoin is currently valued at approximately $29819.36 in Iran which is 938 million Iranian Rials. Noticeably, the current BTC price in Iran is 3X higher compared to its current value of $7388.
Concerning this fact, Michael Novogratz tweeted as follows;
Nice to see$btc react to global uncertainty. #digitalgold
— Michael Novogratz (@novogratz) January 3, 2020
Iran has been one of the most potential markets for crypto trading platforms, especially due to the US sanctions issues that Iran is facing. While on one hand, bitcoin is on rising demand in Iran, on the other hand, the country’s top officials are discussing the plan to create a cryptocurrency for Muslim countries to cut their reliance on U.S. dollar. Iranian President Hassan Rouhani in Mid December stressed that the Muslim countries need to strengthen the financial and trade cooperation to confront the ‘Economic Hegemony’ of the United States.
“The Muslim world should be designing measures to save themselves from the domination of the United States dollar and the American financial regime,” said AP, Rouhani
As for Michael Novogratz, he also predicted that the value of Bitcoin will hit $12K in 2020. However, he isn’t alone bullishly betting high on the forthcoming price of bitcoin, other analysts and influencers are eyeing at the next big Bull Run this year.
However, only time answers to what extent the price predictions can turn out to be true.! Stay tuned with Tron Weekly Journal