New Developments Between Iran and the US Cause Major Drop in Bitcoin and Altcoins – Here Are the Details

Tensions in the Middle East are rising rapidly. The Iranian Parliament has approved a bill to close the strategically important Strait of Hormuz.

The decision will need approval from Iran’s Supreme National Security Council to be fully implemented. A member of the National Security Committee of the Iranian Parliament said the Revolutionary Guards are ready to close the strait if necessary.

On the other hand, there have been notable statements and moves from the US and Israel. Israeli President Isaac Herzog stated on CNN’s State of the Union program that Iran’s nuclear program had not been completely eliminated, but had suffered serious damage. Herzog also stated that they did not want to draw the US into a war.

The Pentagon has accelerated the process of sending a second aircraft carrier group to the region, NBC reported, citing senior American officials. The USS Nimitz aircraft carrier and its accompanying destroyers have been dispatched to the region and are expected to arrive next week. Washington is reported to be keeping two aircraft carrier groups in the Middle East for at least a month.

US President Donald Trump announced this morning that a successful bombardment had been carried out on three nuclear facilities in Iran and that these facilities had been “destroyed.” Israel stated that they had acted in “full coordination” with the US in these attacks, while Iranian officials acknowledged that the facilities had been hit but claimed that there were no serious casualties.

“Iran still has the military capacity to attack our forces in the Middle East,” a US official told Al Jazeera.

Rising geopolitical risks have also negatively affected cryptocurrency markets. In the last hour, Bitcoin fell by 1.87% to $100,718, while Ethereum lost 3.1% to $2,197.

*This is not investment advice.