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The world’s markets have been tipped by significant volatility in recent statements from US President Donald Trump. In a statement Trump said talks were underway to end hostilities with Iran “were beginning” in the coming months of negotiations, saying that it was going on. Also, he also said that ‘I told the US Department of Defense to delay any attacks for five days and that diplomatic contacts would continue.
Price fluctuations, especially in energy markets, have been rapid due to the temporary easing of geopolitical tensions. Prices of crude oil soared by about 12% to $87, and Brent oil lost some 8 per cent ($97) while Crude oil prices were down roughly 8%. It is a pullback that suggests markets are pricing to ensure the risk in the short term has been reduced, and this means less risks.
Meanwhile, these developments were welcomed by the cryptocurrency market as well as a positive response from the crypto industry. Bitcoin increased 4% in minutes to $71,000, while Ethereum rose by 7% (about $2,200) and its value was about $.
Bitcoin 1-minute chart
Analysts predict that the course of the diplomatic process will determine both for the energy and crypto markets in the coming days. In particular, they point to volatility if the talks lead to a long-term deal.
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