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Why Bitcoin could finish 2020 up 100%Why the Iran situation is considered as a factor

#1
Almost immediately after the death of Soleimani was confirmed by the mainstream media, the prices of oil and gold surged. The price of oil spiked because Iran is a major supplier of oil, and the gold price thrived as it is generally considered to be a safe haven asset by investors.
However, to identify the latest upside movement of Bitcoin as a reaction of investors to instability in the Middle East is not so realistic.
Compared to gold’s $8 trillion, the market capitalization of Bitcoin stands at $136 billion. It is too small in size and volatile to appeal to the broader base of investors as a proper safe-haven asset.
Holders of Bitcoin anticipate the dominant cryptocurrency to eventually evolve into a safe haven asset in the long-term. But, for it to happen, it would have to first grow exponentially, stabilize, and show a lower level of volatility.
Currently, as an emerging asset, Bitcoin has not shown signs of dependence on other markets or assets. It moves based on how the exchange market moves and it is often unaffected by macro happenings.
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