Escalation of Middle East Tensions Leads to a 774-Point Drop in Taiwan Stock Market, Setting a Record Low. However, on the other hand, Bitcoin briefly fell below $60,000 and quickly rebounded to over $65,000.
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Is Bitcoin really a safe-haven asset? Compared to the outbreak of the past three wars, has BTC outperformed gold and the S&P 500..
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(Background information:
Breaking News! US officials confirm “Israeli missile” attack on Iran, Bitcoin falls below $60,000, Ethereum loses $2,900
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The situation in the Middle East is becoming increasingly tense, and the dispute between Israel and Iran may escalate to the level of war. According to foreign media reports, Israel launched missile attacks on three countries, including Iran, in the early hours of the 19th local time.
According to local sources, the central Iranian city of Isfahan, the southern Syrian city of As-Suwayda, and the vicinity of the Iraqi capital Baghdad were all attacked simultaneously early this morning.
A US official also confirmed to ABC News that Israeli missiles hit a location inside Iran, and it is particularly sensitive that Isfahan is where Iran’s nuclear facilities are located. According to local media, Isfahan’s nuclear facilities are safe and sound.
However, before Israel’s attack today (19th), Iranian Foreign Minister Hossein Amir-Abdollahian warned yesterday (18th):
It is worth mentioning that according to foreign media reports citing informed sources and US officials, Israel had notified Washington in advance of the airstrike on Iran, but the US did not support or participate in the operation. At the same time, the US imposed new economic sanctions on Iran in response to last weekend’s attacks. Perhaps because the US presidential election is approaching, the US only persuaded Israel and imposed economic sanctions on Iran, without further preventing the conflict between Israel and Iran.
Further reading:
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Review of Israel-Iran dispute
Last weekend (13th), Iran launched a large-scale missile and drone attack on Israel. Israel intercepted 99% of the attacks through its air defense interception system, with only a few personnel injured. Iran stated that this incident was a retaliation for Israel’s attack on the Iranian embassy in Damascus this month.
In response to this incident, the United Nations Security Council held an emergency meeting on the 14th. During the meeting, UN Secretary-General Antonio Guterres warned countries not to retaliate against Iran and emphasized that the Middle East or the world cannot afford more wars. On the same day (14th), Israeli Prime Minister Benjamin Netanyahu initially decided to launch an attack on Iran, but canceled the attack plan after a phone call with US President Biden.
Further reading:
Israel announces “retaliation against Iran,” US persuasion ineffective, causing turmoil in financial markets and the crypto sphere
Taiwan stock market closes with a sharp 774-point drop, setting a record low, while Bitcoin makes a V-shaped reversal and surpasses $65,000
Affected by the Israeli attack, hawkish statements from the US Federal Reserve, and TSMC’s downward revision of the global outlook for the semiconductor industry and other three major sectors at yesterday’s (18th) analyst conference, Taiwan’s stock market plummeted over 1,000 points during the day and closed with a 774-point drop, the largest decline in the history of Taiwan’s stock market. At the same time, the price of gold once again surpassed $2,400 per ounce, temporarily reporting $2,386.79 before the deadline.
Bitcoin also fell below $60,000 in the morning, but the price surged all the way up afterwards, temporarily reporting $64,814 before the deadline.
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Israel announces “retaliation against Iran,” US persuasion ineffective, causing turmoil in financial markets and the crypto sphere