North Korea has been making headlines globally all month. Leaving South Korea, Japan, and the United States at odds with them.
What would likely happen if 3 of the largest players in cryptocurrency; especially bitcoin, end up in the same war?
Players at war
North Korea’s Foreign minister; Ri Yong-ho, held a press conference in New York earlier today accusing the United States president; Donald Trump, of declaring war against the nation of the northern korean peninsula. The UN and the US conventions that placed sanctions on the Regime earlier this month began over missile launches over the nation of Japan. But what North Korea deemed as a declaration of war was a joint military exercise between Japan and the United States. US bombers from Guam and a fighter escort from japan flew over the waters of North Korea and led to the claims of war.
And sadly the repercussions on the stock market have shown for both nations.
Bitcoin War
Bitcoin stock actually went up globally; by 7% even. While it still has not reach the 4 thousand dollar mark in the United States it did rise. Oddly enough analysts say that the overnight activities over the north korean waters resulted in the raise.
But how long will this climb last? And how will the market fair as this conflict ignites?
Since the press conference, both the Japanese Yen and the United States Dollar has decreased in value. In the long run this will look to hurt the market globally. But keep in mind, Japan, United States, and South Korea are 3 of the world’s highest traders of Bitcoin. But while these 3 nations
Weaken, the cryptocurrency market may still look to grow; after all, Bitcoin has no physical value that can be diminished.
The currency has withstood the ban of exchanges in China, it should very well withstand this treacherous war.