Israel -ran tensions jolt crypto market, bitcoin price declines 3 percent

Airstrikes in Iran, Israel, have affected markets around the world. The Crypto market has also declined a huge decline on Friday. Due to this, the biggest cryptocurrency Bitcoin in terms of market value was about three percent. Apart from this, many other cryptocurrency prices have also decreased.

International Crypto Exchange after this report is published Binance But the price of bitcoin fell more than 2.70 percent to about $ 1,04,670. Earlier this week, Bitcoin crossed the $ 1,10,000 level. The second largest cryptocurrency Ether had a loss of about nine percent. The Ether’s price was trading at $ 2,510. Apart from this, the prices of Solana, Polkadot, Cardano, Monero, Stellar and XRP have fallen. In the last one day, Crypto’s market capitalization declined by more than four percent to about $ 3.26 million.

Market analysts say that the tension between Israel and Iran has increased in Middle East. Crude oil prices have also gained momentum due to deteriorating geopolitical condition. This is expected to increase inflation. America’s Federal Reserve may be more cautious about the reduction in interest rate in view of such a situation. This is expected to affect the crypto market as investors can distance away from high risk assets. There have been liquidations worth more than $ 1.4 billion due to increased tension in the middle East. However, investment is being done in exchange traded funds (ETF).

The cases of scams associated with the Crypto segment have increased. The ways of cheating the investors of scammers are also changing. Scams are also using Artificial Intelligence (AI) to cheat investors. Crypto Exchange Bitget has reported in its anti-scam report that the International Crypto scams have lost about $ 4.6 billion in the last year. This report states that the methods of fraud of scammers are also changing and they are also using deepfec technology with social engineering scams. This report has been prepared with inputs to meet the blockchain security firms Slowmist and Elliptic.