Bitcoin Value Dips Below $60,000 As Israeli Military Strikes Iran

Israel’s missile strike on Iran has had a significant impact on the cryptocurrency market, resulting in a sharp decline that pushed Bitcoin below the $60,000 mark on Friday.

Bitcoin slid to USD 59,961, a drop of more than 55 per cent in the Asia session as the US dollar rose broadly. Simultaneously, Ether experienced a downward movement and went below USD 3,000 mark to USD 2,895.

The Israel-Iran conflict is creating global tension, including the cryptocurrency market. Reports indicate that Israel conducted a military operation on Iranian territory last Friday in response to Iran's recent drone strike on Israel.

Bitcoin managed to come back up at USD 62,300 level but slid down by 2 per cent on the day. Ether was back above USD 3,000.