‘Doomsday Scenario’—Bitcoin Suddenly Drops Under $100,000 As Crypto Price Crash Fears Hit Ethereum And XRP

Bitcoin has plummeted sharply amid fears U.S involvement in the Israel-Iran conflict could escalate into a wider regional war (adding to volatility expected from a Federal Reserve earthquake).

The bitcoin price, after shrugging off the initial exchange of fire between Israel and Iran and even the overnight U.S. bombing of Iran nuclear sites, has crashed under $100,000 per bitcoin despite U.S. president Donald Trump confirming a “massive” game-changer this week.

Now, with bitcoin and crypto braced for “trillions” to hit the market, a “doomsday scenario” is expected to weigh on the bitcoin price as Iran’s parliament voted to approve the closure of the strategic Strait of Hormuz.

“Spooked energy markets, fearing further escalation, are apt to respond to the U.S. strikes with a sharp jump in crude prices,” Reuters analyst Ron Bousso wrote. “But even in a doomsday scenario where the Strait of Hormuz is blocked, history suggests markets should not expect any supply shock to be persistent.”