Bitcoin Price Under Pressure Again as Trump Reportedly Rejects Iran Peace Deal

Bitcoin’s impressive rally that began in August and culminated, for now, a few days ago with a surge past $87,000 could be in serious jeopardy as the tension in the Middle East has escalated once again.

The Wall Street Journal reported that US President Donald Trump has rejected Iran’s latest peace proposal and even warned that his country will resume bombing it after the November midterms.

Trump Says No Citing officials familiar with the matter, the WSJ reported that Trump has rejected Iran’s proposal for a seven-day ceasefire and has told people close to him that he expects to restart the bombing after the midterms.

This is in stark contrast to his stance from just a couple of weeks ago, when he claimed that the war would end immediately after the elections because “they can’t hold out any longer.” Iran raised the diplomatic initiative at the United Nations General Assembly in New York, indicating that it has been transmitted to the US via Qatari mediators and could reopen the Strait of Hormuz and put an end to the attacks in the region within seven days.