Bitcoin Rises Despite Middle East Tensions: Price Reaches $107,000

Bitcoin continued its rise on Monday, recovering from the significant impact of the ongoing military conflict between Israel and Iran. The largest cryptocurrency, which recently approached its record high of $111,970, had lost approximately 1 percent on Friday due to tensions in the Middle East.

The latest wave of tension escalated after Israel’s air strikes on Iran’s nuclear and missile facilities on Friday, followed by Iran’s retaliation with ballistic missiles. Iran’s attacks resulted in casualties and material damage in Israel.

As of Monday at 09:50 AM, Bitcoin’s price rose by 3.1 percent to $106,700.

TRADING VOLUME INCREASED BY 13 PERCENT

In the last 24 hours, trading volume increased by 13.67 percent, reaching $40.46 billion.

By 11:00 AM, Bitcoin had tested the $107,262 levels.

ETHEREUM ALSO BEGAN TO RISE

Ethereum, which lost approximately 4 percent on Friday, recovered by 5 percent on Monday, rising to $2,619.92 according to CoinMarketCap data.

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