Bitcoin price: US-Iran conflict is the answer

goaldigger

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Quote from: rijaljun on January 22, 2020, 07:01:41 AM

Quote from: Barbarian on January 20, 2020, 11:07:07 PM

I hold the same opinion, the growth of bitcoin is happening because of its own and unique circumstances but at the same time there seemed to be an effect on bitcoin as soon as the news about a new possible conflict came and this is interesting because this means that some people decided to use bitcoin as a store of value, even if they were not a lot of people this is good since it means that bitcoin is slowly gaining influence despite the efforts of the governments that this does not take place.

The conflict between Iran-USA is no longer sweet for Bitcoin price speculation, we can say enough for that and I agree with you that the current movement is because of Bitcoin's fundamental side which isn't affected by other things outside its economic model.

People wants to connect that issue to create panic to some people but bitcoin is indeed doing well fundamentally. The tension has gone down, and luckily the price of bitcoin goes up. Bitcoin is affected by economic situation, and since its a decentralized exchange it can go on the opposite side and go up if the economy is going down.

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Quote from: rijaljun on January 22, 2020, 07:01:41 AM

Quote from: Barbarian on January 20, 2020, 11:07:07 PM

I hold the same opinion, the growth of bitcoin is happening because of its own and unique circumstances but at the same time there seemed to be an effect on bitcoin as soon as the news about a new possible conflict came and this is interesting because this means that some people decided to use bitcoin as a store of value, even if they were not a lot of people this is good since it means that bitcoin is slowly gaining influence despite the efforts of the governments that this does not take place.

The conflict between Iran-USA is no longer sweet for Bitcoin price speculation, we can say enough for that and I agree with you that the current movement is because of Bitcoin's fundamental side which isn't affected by other things outside its economic model.

When the article about the price of bitcoins in Iran release many people got crazy to see things that we are in good shape since provably the war could create a demand and all of the sudden it was subside since the said new confirmed as fake that's why we see the price cool down but for now I don't really think it's good to talk about this since I agree with you that there's no sweetness we can get for speculating that anymore and maybe we should forget that and move our guess in the next halving.

rijaljun

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Quote from: Barbarian on January 20, 2020, 11:07:07 PM

I hold the same opinion, the growth of bitcoin is happening because of its own and unique circumstances but at the same time there seemed to be an effect on bitcoin as soon as the news about a new possible conflict came and this is interesting because this means that some people decided to use bitcoin as a store of value, even if they were not a lot of people this is good since it means that bitcoin is slowly gaining influence despite the efforts of the governments that this does not take place.

The conflict between Iran-USA is no longer sweet for Bitcoin price speculation, we can say enough for that and I agree with you that the current movement is because of Bitcoin's fundamental side which isn't affected by other things outside its economic model.

Barbarian

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Quote from: karanggatak on January 15, 2020, 04:13:12 AM

in my opinion the rise of the bitcon at the beginning of this year was indeed affected by the conflict between Iran and America. but now the conflict between the two countries has subsided. but bitcoin continues to increase. so I think the increase in bitcoin right now is a result of bitcoin being reduced by half in May. if we look at the previous halvingd day bitcoin chart. bitcoin tends to increase before bitcoin is reduced by half.

I hold the same opinion, the growth of bitcoin is happening because of its own and unique circumstances but at the same time there seemed to be an effect on bitcoin as soon as the news about a new possible conflict came and this is interesting because this means that some people decided to use bitcoin as a store of value, even if they were not a lot of people this is good since it means that bitcoin is slowly gaining influence despite the efforts of the governments that this does not take place.

ultrloa

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Quote from: riso2015 on January 07, 2020, 10:58:35 PM

Quote from: MURONDI on January 07, 2020, 09:59:03 PM

I'm not sure that's the cause of the rise in bitcoin prices, if examined further there are many reasons for the rising price of bitcoin, but don't know the exact reason, halving bitcoin can also be a reason for price increases, even without the current news, technical analysis also shows the beginning of a positive trend.

News about the conflict between Iran vs US did not affect for the price of Bitcoin at all, but it did have an effect on world gold prices. I also believe that the price of Bitcoin will increase after Halving later. So you do not be influenced by issues that are not necessarily true.

Actually we can see a small rise recently that's why we conclude that there.'s an effect imagine to see those fud where indicated that the price reach at $29k per each Bitcoin in Iran for sure many people got curious for searching that and some other buy since they taught that it is the start of bull run.

Kyraishi

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No, it is not.

This is like one of these pieces which tries to attribute bitcoin price hikes to demand for it in countries like Iran and Venezuela when LBC data shows the complete opposite being true. I'm a long term bitcoin holder and I'm the first to point out that these kind of reasoning for speculation is completely false and misguided.

This is completely as a result of the market cycles and institutional interest. Perhaps the escalation of tensions has played a catalyst role in the short term but it's not the long term reason.

karanggatak

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in my opinion the rise of the bitcon at the beginning of this year was indeed affected by the conflict between Iran and America. but now the conflict between the two countries has subsided. but bitcoin continues to increase. so I think the increase in bitcoin right now is a result of bitcoin being reduced by half in May. if we look at the previous halvingd day bitcoin chart. bitcoin tends to increase before bitcoin is reduced by half.

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Quote from: blckhawk on January 07, 2020, 10:51:48 PM

A conflict could not be always the result of demand. And could not always be told that the demand was the result. It may be such, but the demand and the recant pump looks like just any other manipulation in the market. Iranians aren't buying Bitcoin, their internet is censored, and its just another FOMO scheme pumping the price up, but we have no idea when it's gonna go to a reversal.

It just tend to be a coincidence when the price change. Besides we don't have to wait for some events that no one even wants to happen for the market to change. There are various factors we should be considering not only this major event just because it is the most obvious one. Because it might be a manipulation like the man stated above just did the same time as the tension happens.

kro55

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It was like Yes-No-Yes-Cant Say. Bitcoin initially started its bull run after initial USA Iran tension then fall back and went up again and now going more up. Luckily chances of war are over but bitcoin is still going up. Right now I am in 'Cant say' phase about bitcoin bullish run. Its totally unpredictable.

Aying

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It is not the answer anymore because there are no war to be started, although that news is helping bitcoin too to be spread allover iran and now iranian's are now knowledgable about bitcoin and soon all over crypto so in that conflict news is not that bad for crypto or bitcoin but if this will happen it might change the scenario and the interest of crypto users.

The Sceptical Chymist

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Quote from: bbc.reporter on January 08, 2020, 08:02:53 PM

What would be next the storyboard to pump bitcoin to $10k? Trump declares world war 3 hehehe?

Would that be a happy moment for everyone?

No, that wouldn't. I get that you're probably being facetious, but that would be a nightmare for everyone and I would rather bitcoin crash to $0 than see WWIII.

As I write this, bitcoin is above $8500 and those tensions between the US and Iran appear to have settled down somewhat, though who knows what's really going on. But if that rally we saw in the very beginning of the year was caused by this political drama, there must be something else driving the one that just happened overnight. My guess is that it has nothing to do with world events but is probably traders buying bitcoin in anticipation of the halving.

Not that I care what the reasons are. It's good to see bitcoin halfway to $9k.

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Quote from: Getmon on January 07, 2020, 09:38:37 PM

I don't share with the idea of these market analysts. These market analysts seem to be incompetent. They seem to be picking on the big current event and then immediately link Bitcoin's price to it. How many times have we been like this? One protest there, the price is said to rise because of it. One announcement here, the price is said to rise because of it. One government in turmoil there, the price is going to explode. And here comes another conflict which is not really a war as they seem to imply, and the price is going to rise again due to it? What is going inside the heads of these analysts? So are we going to pray for more of these kinds of events for Bitcoin to rise?

Exactly, these analyst just don't know where to link bitcoins price increase and they just use whatever it is available. Bitcoin can be affected by many factors and the conflict between Iran-US may affect somehow but it isn't the main reason we see an increase in price. Moreover, I don't like the idea of linking it to conflicts like these one because it only implies that for bitcoin to increase we need more conflicts and it is not good to pray for more conflicts because it is unfair to those who will be affected.

Barbarian

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Quote from: yulionoo on January 09, 2020, 01:14:24 AM

America is a big country and its currency has become an international currency. so if America conflicts with other countries, of course this can affect the world economy. and now America is in conflict with Iran. We know Iran is a world oil producer in the event of a war will have an impact on oil prices and possibly also on bitcoin. because relations between the two countries heats up the price of bitcoin has increased. and today when the American president said he would not use military force the price of bitcoin also declined. but actually I'm also still in doubt.

This is a situation that we are going to have to monitor constantly because things change day to day, one day the conflict seems like it is not going to escalate and then the next day it seems like it will, this is creating confusion in the markets and it is also creating confusion among people because I'm sure that most people do not really want that another armed conflict takes place especially in the Middle East which has been so unstable during the last decades.

yulionoo

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America is a big country and its currency has become an international currency. so if America conflicts with other countries, of course this can affect the world economy. and now America is in conflict with Iran. We know Iran is a world oil producer in the event of a war will have an impact on oil prices and possibly also on bitcoin. because relations between the two countries heats up the price of bitcoin has increased. and today when the American president said he would not use military force the price of bitcoin also declined. but actually I'm also still in doubt.

Barbarian

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Quote from: coinary on January 08, 2020, 09:53:58 PM

From Cointelegraph:

Bitcoin Price Retreats to $8K as Trump Defuses Potential War With Iran

Quote

Over the last few hours, the price of Bitcoin (BTC) began to falter at $8,300 and dropped all the way to the support at $8,000 as United States President Donald Trump stated that he would not seek further military action against Iran following Tuesday night’s bombing of two air bases in Iraq.

The 4.82% pullback suggests that speculators looking for Bitcoin price to rally higher on the increasing chances of war with Iran decided to either pull their bids or take profit as Bitcoin struggled to hold $8,300.

Source: https://cointelegraph.com/news/bitcoin-price-retreats-to-8k-as-trump-defuses-potential-war-with-iran

That is one possible explanations for what we are seeing but it does not seem to make sense, when I look at different indicators the drop in the price was almost a sure thing, so even if that news did not appeared most likely the price of bitcoin would have gone down anyway, but it is possible the news could have had the effect of accelerating the drop and it is what it has gotten us back to a more reasonable price for bitcoin, anyway I hope you took advantage of the price while it lasted since we do not know when this will happen again.

STT

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It does seem a strange parallel but I'm still apt to consider all the moves primarily emanating from the chart and price history. Sure news comes along and it lights the fuse, it gets peoples attention and consensus will always move a market either way but the situation was set before the move and that took days and weeks to be the case not just this event.
If BTC is moving on volatility perhaps its tied to dollar weakness or somehow dollar is in someway displaced from its normal safe haven goto asset. That make some sense as Oil is sold in dollars and Iran is a major producer of oil, but cant say I completely understand why people would buy BTC in time with rockets fired or possible conflict speculation.#
There is a finer point on QE programs, how we reversed the unwinding and raising of interest rates and that already had to be abandoned. Its underplayed but important that an attempt was made to alter policy and it failed, dollar has some cracks in its support and cant just be patched over I reckon. People get war alot more easily then debt swaps but that balance matters and its part of the story of underlying failure that led into 2008 problems, some noticed back then and most of us didnt until Lehmans.

Getmon

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Quote from: Russlenat on January 08, 2020, 09:02:25 PM

I agree with the article and it's analysis, however, this would only be a temporary solution for them, eventually as this problem will be solve and the tension gone down, everything will be back to normal. However, we can't undermine it's positive effect to the market because we saw how bullish bitcoin is.

For countries that are sanction by the US, they should not worry as they have crypto to help them that can be use in different boarder of the world.
This is quite positive but everyone would say " make love not war"..

And by saying everything will be back to normal, what do you exactly mean? That the price of Bitcoin will be falling down or it will remain static? The bullish Bitcoin was true but whether it was the violence in the middle east that caused it is a question.

I don't consider the developments in the middle east positive. Even the price increase of Bitcoin is not positive if it is grounded on such negative events.

coinary

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From Cointelegraph:

Bitcoin Price Retreats to $8K as Trump Defuses Potential War With Iran

Quote

Over the last few hours, the price of Bitcoin (BTC) began to falter at $8,300 and dropped all the way to the support at $8,000 as United States President Donald Trump stated that he would not seek further military action against Iran following Tuesday night’s bombing of two air bases in Iraq.

The 4.82% pullback suggests that speculators looking for Bitcoin price to rally higher on the increasing chances of war with Iran decided to either pull their bids or take profit as Bitcoin struggled to hold $8,300.

Source: https://cointelegraph.com/news/bitcoin-price-retreats-to-8k-as-trump-defuses-potential-war-with-iran

coinary

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IMHO, any geopolitical issue generates a pump (or dump) in the BTC rate (sadly).

The effect could go in both ways; if the stock and traditional investments have an excellent performance, Bitcoin will be flat or dump the exchange rate (and interest from investors).

No one wants wars; however, the forecastings for Bitcoin in January were negative (some forecasting bellow to USD 6k) however Bitcoin has an excellent performance right now (good for us), I guess US conflicts have helped on it. Gold has raised its price too in the last days.

Russlenat

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I agree with the article and it's analysis, however, this would only be a temporary solution for them, eventually as this problem will be solve and the tension gone down, everything will be back to normal. However, we can't undermine it's positive effect to the market because we saw how bullish bitcoin is.

For countries that are sanction by the US, they should not worry as they have crypto to help them that can be use in different boarder of the world.
This is quite positive but everyone would say " make love not war"..

bbc.reporter

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It appears that the Iran conflict pump might be finished. What would be next the storyboard to pump bitcoin to $10k? Trump declares world war 3 hehehe?

Would that be a happy moment for everyone?

Eugenar

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Quote from: leea-1334 on January 08, 2020, 04:43:43 AM

Why is a war between old enemies making Bitcoin go up? No one can explain this. If this had a positive effect on BTC, then the wars on Iraq and Syria and all other wars should have pushed Bitcoin up, but in 2018 and 2019 BTC price kept going down. Remember, US even had bigger wins when it killed Islamic State commanders.

What matters here is how hard the news concerning the war impacts the people, specially how people also make announcement and news concerning its possible effect on cryptocurrency which is in fact turns out to be the reason why this sudden pump is happening. Because if we look at the tension area, if we are living there, it is impossible for us to nearly think of investment, maybe to save our money possibly, but most of the time, this price increase is because of the people like us who is hoping for the bigger market price and racing to buy immediately because of this reason.

iv4n

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Quote from: leea-1334 on January 08, 2020, 04:43:43 AM

Why is a war between old enemies making Bitcoin go up? No one can explain this. If this had a positive effect on BTC, then the wars on Iraq and Syria and all other wars should have pushed Bitcoin up, but in 2018 and 2019 BTC price kept going down. Remember, US even had bigger wins when it killed Islamic State commanders.

People who wish positive effects from a war are war profiteers, and who expects positive things for bitcoin and crypto from this conflict is a jackass! C'mon people, bitcoin was invented for some other reason, bitcoin made much more in peaceful times than in war times, so why would we even try to explain effect of this conflict on crypto?
We can make it simple, crypto is a good thing, war is a bad thing, end of story! What happens when people are tired from constant shit is that those turn to something better! And that is happening around the world, people are tired from governments and their corruption, private corporations that rule the world from shadows with the help of governments and banks!

barabarian1

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Quote from: MURONDI on January 07, 2020, 09:59:03 PM

I'm not sure that's the cause of the rise in bitcoin prices, if examined further there are many reasons for the rising price of bitcoin, but don't know the exact reason, halving bitcoin can also be a reason for price increases, even without the current news, technical analysis also shows the beginning of a positive trend.

yes i also agree with you i think the price of bitcoin is not rising due to the conflict between iran and america. I think the increase that's happening right now is a normal increase and maybe this is also because bitcoin will be reduced by half in May. and bitcoin has declined since november 2019 now is the time for bitcoin to increase.

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Why is a war between old enemies making Bitcoin go up? No one can explain this. If this had a positive effect on BTC, then the wars on Iraq and Syria and all other wars should have pushed Bitcoin up, but in 2018 and 2019 BTC price kept going down. Remember, US even had bigger wins when it killed Islamic State commanders.

Reid

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No.
That is a foolish basis. They just do it for advertisements.
Using the current events to connect with the financial events.
No way I would rely with that. Careful where you are getting all the news. This could be the reason for you to lose more money instead of gaining.

Let us say China and Iraq will have a problem next year and bitcoin soared to 50k USD. I bet he will also use that.

sovie

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What else could be the reason? Just before Iran/USA conflict the only thing discussed here was coin halving and whether bitcoin will gall back to 6000$ or 5000$. Curde oil right now is 63$ while gold is 1591$. Everything is up thats why bitcoin is also going up. If things get settled bitcoin will come back again. Its just temporary push.

bounceback

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I am not too sure that the increase in bitcoin prices in the last few days has been caused by geopolitical conflicts between the US and Iran because previously the price of bitcoin also rose without conflict, maybe it was just a coincidence, and in my personal opinion, the current rise in bitcoin prices may be caused by factors certain factors that are directly related to bitcoin.

Sadlife

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Maybe the price pump was caused by the global uncertainty that is happening to Iran vs US, as we all know the price of stocks is dumping right now in the US and probably moving to different safe havens, this always happens when a global crisis occurs but is this really the caused of the pump. ?
According to technical perspective the price was about to bull even if the war didn't happened. So the answer is really unclear.

maydna

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I don't think much about that because I only see that bitcoin price now can break $8000, and it still going to reach the highest price. Even if there is any correlation with those things, we can take the benefits after we wait for a long time to see the bitcoin price can reach $8000 again. The bitcoin price now tends to increase higher, and perhaps still, the price can break $8500 no matter if there is any other news. But I wonder that if there is another news like that happens, it can boost the bitcoin price to hit higher or not. I guess now many people are taking their profit by selling some of their bitcoin because right now it's a good price to sell it.

hatshepsut93

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I think Bitcoin's price was going to take off soon regardless of any events, and this conflict just triggered the price rise rather than caused it directly. Bitcoin never showed any strong correlation with military actions in the recent years, and we've witnessed a lot of this stuff - North Korea's nuclear launches, US' airstrike against Russian mercenaries, Syrian war, etc.

avikz

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Quote from: riso2015 on January 07, 2020, 10:58:35 PM

Quote from: MURONDI on January 07, 2020, 09:59:03 PM

I'm not sure that's the cause of the rise in bitcoin prices, if examined further there are many reasons for the rising price of bitcoin, but don't know the exact reason, halving bitcoin can also be a reason for price increases, even without the current news, technical analysis also shows the beginning of a positive trend.

News about the conflict between Iran vs US did not affect for the price of Bitcoin at all, but it did have an effect on world gold prices. I also believe that the price of Bitcoin will increase after Halving later. So you do not be influenced by issues that are not necessarily true.

Indeed! Bitcoin is not yet seen as a hedging instrument, especially not in Iran for sure! Rather, Gold is an ideal instrument for hedging to a lot of people. Amidst the Iran- US tension, Gold price has also increased supported by robust increase in demand. Bitcoin may very well be supported by the upcoming halving which is supposed to take place in the Mid 2020! That is one of the strongest reasons for increase in bitcoin price, not certainly the US-Iran war situation!

CryptoBry

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Iranians are not really buying Bitcoin by trucks but it is the outside market that think that this conflict can be helping Bitcoin hence the surge. I don't understand why people are just looking at the demand within Iran, that is not how a global asset in the market is working. The market is all about perception and projection.

riso2015

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Quote from: MURONDI on January 07, 2020, 09:59:03 PM

I'm not sure that's the cause of the rise in bitcoin prices, if examined further there are many reasons for the rising price of bitcoin, but don't know the exact reason, halving bitcoin can also be a reason for price increases, even without the current news, technical analysis also shows the beginning of a positive trend.

News about the conflict between Iran vs US did not affect for the price of Bitcoin at all, but it did have an effect on world gold prices. I also believe that the price of Bitcoin will increase after Halving later. So you do not be influenced by issues that are not necessarily true.

Yaunfitda

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So base on that logic, do we need some looming wars to be able to see the price of bitcoin spiking up to 5 digit figure?

I don't think that this is the main reason for the sudden pump, at least for me. We have bottom around $6900 earlier so it's just normal to see the price recovered after that and we can't really attribute everything to the US-Iran conflict. I know that there are reports that bitcoin goes up in Iran market to $24k-$26k a pop but it was debunked already.

blckhawk

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A conflict could not be always the result of demand. And could not always be told that the demand was the result. It may be such, but the demand and the recant pump looks like just any other manipulation in the market. Iranians aren't buying Bitcoin, their internet is censored, and its just another FOMO scheme pumping the price up, but we have no idea when it's gonna go to a reversal.

bbc.reporter

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Quote from: robelneo on January 07, 2020, 10:14:23 PM

Quote from: coinary on January 07, 2020, 09:27:23 PM

According to market analysts, escalating tensions between the US and Iran have prompted an increase in Bitcoin price.

General Qasem Soleimani, head of the elite Quds Force of the Iranian Revolutionary Guards, was murdered by U.S. Troops in Iraq. This pushed Bitcoin price higher than $7,500, and a broke a steady decline on the price that started before Christmas.

The cryptocurrency is pretty volatile, making it hard to connect one factor to significant market fluctuations, but international instability is often cited as a factor contributing to rising Bitcoin price.

Full article: https://unblocked.press/bs-bitcoin/bitcoin-price-us-iran-conflict-is-the-answer/

What do you think about this situation?

So do we need another, events or conflicts like this for another price hike? the data shows it's true but there are good series of events that also lead to the price increase and I'd like the good series of events than a conflict that could escalate to something bad, but we have proven that Bitcoin is a safe haven for this kind of situation, it's easy and all you need is a USB or a paper wallet, neve rimagine you can move a huge funds with just a USB and a piece of paper.

What data are you basing this on? The localbitcoins data show that the news are false. The localbitcoins volume in Iran has been one of the lowest of all time since its beginning.

the rise

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Quote from: coinary on January 07, 2020, 09:27:23 PM

The cryptocurrency is pretty volatile, making it hard to connect one factor to significant market fluctuations, but international instability is often cited as a factor contributing to rising Bitcoin price.

If responding to the US-Iran today, before tensions occur, mining activities have been active and legal in Iran, and the Iranian community has begun to talk about bitcoin as an alternative to the third best asset after fiat and gold. so it's natural now why they are active triggers of huge demand for bitcoin and then have global influence. The fact is indeed connected with each other, international instability has become an active catalyst.

Getmon

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Quote from: coinary on January 07, 2020, 09:52:27 PM

Quote from: Getmon on January 07, 2020, 09:38:37 PM

I don't share with the idea of these market analysts. These market analysts seem to be incompetent. They seem to be picking on the big current event and then immediately link Bitcoin's price to it. How many times have we been like this? One protest there, the price is said to rise because of it. One announcement here, the price is said to rise because of it. One government in turmoil there, the price is going to explode. And here comes another conflict which is not really a war as they seem to imply, and the price is going to rise again due to it? What is going inside the heads of these analysts? So are we going to pray for more of these kinds of events for Bitcoin to rise?

Good comment, I don't guess that people must pray to get more of those kinds of conflicts. No one wants wars.

However, this conflict could bring to Iran more sanctions limiting the economy of Iran and the region, pushing Bitcoin in the Middle East.

Iran has always been under economic sanctions all this time. It has also been increased already when Trump decided to get out of their nuclear deal with Iran. And now more sanctions. There is nothing new in there. Did Bitcoin's price react every time all these developments took place? I don't think so.

Bitcoin is already reaching new areas one step at a time. It has already entered the Middle East even before this violence came. These analysts are trying to fit Bitcoin's price into whatever things.

robelneo

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Quote from: coinary on January 07, 2020, 09:27:23 PM

According to market analysts, escalating tensions between the US and Iran have prompted an increase in Bitcoin price.

General Qasem Soleimani, head of the elite Quds Force of the Iranian Revolutionary Guards, was murdered by U.S. Troops in Iraq. This pushed Bitcoin price higher than $7,500, and a broke a steady decline on the price that started before Christmas.

The cryptocurrency is pretty volatile, making it hard to connect one factor to significant market fluctuations, but international instability is often cited as a factor contributing to rising Bitcoin price.

Full article: https://unblocked.press/bs-bitcoin/bitcoin-price-us-iran-conflict-is-the-answer/

What do you think about this situation?

So do we need another, events or conflicts like this for another price hike? the data shows it's true but there are good series of events that also lead to the price increase and I'd like the good series of events than a conflict that could escalate to something bad, but we have proven that Bitcoin is a safe haven for this kind of situation, it's easy and all you need is a USB or a paper wallet, neve rimagine you can move a huge funds with just a USB and a piece of paper.

MURONDI

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I'm not sure that's the cause of the rise in bitcoin prices, if examined further there are many reasons for the rising price of bitcoin, but don't know the exact reason, halving bitcoin can also be a reason for price increases, even without the current news, technical analysis also shows the beginning of a positive trend.

coinary

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Quote from: Getmon on January 07, 2020, 09:38:37 PM

I don't share with the idea of these market analysts. These market analysts seem to be incompetent. They seem to be picking on the big current event and then immediately link Bitcoin's price to it. How many times have we been like this? One protest there, the price is said to rise because of it. One announcement here, the price is said to rise because of it. One government in turmoil there, the price is going to explode. And here comes another conflict which is not really a war as they seem to imply, and the price is going to rise again due to it? What is going inside the heads of these analysts? So are we going to pray for more of these kinds of events for Bitcoin to rise?

Good comment, I don't guess that people must pray to get more of those kinds of conflicts. No one wants wars.

However, this conflict could bring to Iran more sanctions limiting the economy of Iran and the region, pushing Bitcoin in the Middle East.

Getmon

sr. member

Activity: 1400

Merit: 273

I don't share with the idea of these market analysts. These market analysts seem to be incompetent. They seem to be picking on the big current event and then immediately link Bitcoin's price to it. How many times have we been like this? One protest there, the price is said to rise because of it. One announcement here, the price is said to rise because of it. One government in turmoil there, the price is going to explode. And here comes another conflict which is not really a war as they seem to imply, and the price is going to rise again due to it? What is going inside the heads of these analysts? So are we going to pray for more of these kinds of events for Bitcoin to rise?

coinary

jr. member

Activity: 57

Merit: 8

According to market analysts, escalating tensions between the US and Iran have prompted an increase in Bitcoin price.

General Qasem Soleimani, head of the elite Quds Force of the Iranian Revolutionary Guards, was murdered by U.S. Troops in Iraq. This pushed Bitcoin price higher than $7,500, and a broke a steady decline on the price that started before Christmas.

The cryptocurrency is pretty volatile, making it hard to connect one factor to significant market fluctuations, but international instability is often cited as a factor contributing to rising Bitcoin price.

Full article: https://unblocked.press/bs-bitcoin/bitcoin-price-us-iran-conflict-is-the-answer/

What do you think about this situation?

Topic: Bitcoin price: US-Iran conflict is the answer (Read 405 times)