Bitcoin is back to trading like a risk off store of value..

Geopolitical turmoil erupts and bitcoin is again acting like a safe haven
Recent turmoil between the United States and Iran is giving bitcoin and oil a major boost.

After breaking the $7k support recently and getting as low as $6,800, prices bounced over $500 to get back over $7,300 in fairly short order.

This happened right around the time news was breaking that the United States had carried out a hit on top Iranian military commander Qasem Soleimani.

As you might have guessed, Iran vowed to retaliate and risk on assets suddenly started to plunge while risk off assets started to catch a bid.

With bitcoin being being treated like it was one of them again.

So, which one is it?
Earlier this year bitcoin saw strong gains around the time that the China trade war was reaching fever pitch.

However, shortly after more trade war drama popped up and bitcoin didn't budge.

Much to the surprise of everyone.


Shortly after that many were speculating that it was starting to trade like a risk-on asset again...

Except we saw the stock market continue to make high after high while bitcoin continued to drift lower and lower.

Bitcoin has truly lived up to its name as an uncorrelated asset this past year.

Will that continue or is bitcoin finally going to pick a side, especially as more institutions get involved?

I wish I knew, it would make trading it a lot more predictable.

Stay informed my friends.