How is the situation with Iran affecting the price

Bagaji

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Quote from: alexsandria on January 16, 2020, 07:39:42 AM

Quote from: Bagaji on January 16, 2020, 04:58:32 AM

Quote from: vintages on January 15, 2020, 06:27:57 PM

So what about the sudden price increase lately, what could have contributed to it? Could this be because of Rouhani recent threat to US and UK? I believe things are tensioning out lately yet price is increasing.
I personally still don't think the previous price increase was as a result of the imposed war. It could be normal market activities or some investors are using this means to signal more buy.

I don't really believe that the price increase was just normal but a reaction to the tension between the United States of America and Iranian government. This is so because, there was rumours of price increase in Iran local crypto currency exchange and that led to higer demand of Bitcoin followed by other altcoins.

I agree though we don't know real circumstances behind. But the most obvious part is that the major exchange happens may be triggers other people to join the possible hype not knowing that it is just one of the many factors. However we couldn't blame them, could we? Still they drives the market at some spot though.

Such a thing do happen most expecially when the market trigger upward that is when people will start buying Bitcoin and other altcoins and to me it is a bag strategy of trading because you will end up pumping the market for those who must have bought when the price was at the bottom.
We can blaim them anyway such people must exist in the market for other people to make profit from there trading.

gweedo

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Until now, I am sure that this market is not affected by the war between the US and Iran. More than a week has passed and there is no news about this war, but the price of bitcoin is still rising, so this market increases due to the demand of investors when the halving is coming and they buy bitcoin and wait price increases in the future to get profits

alexsandria

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Quote from: Bagaji on January 16, 2020, 04:58:32 AM

Quote from: vintages on January 15, 2020, 06:27:57 PM

So what about the sudden price increase lately, what could have contributed to it? Could this be because of Rouhani recent threat to US and UK? I believe things are tensioning out lately yet price is increasing.
I personally still don't think the previous price increase was as a result of the imposed war. It could be normal market activities or some investors are using this means to signal more buy.

I don't really believe that the price increase was just normal but a reaction to the tension between the United States of America and Iranian government. This is so because, there was rumours of price increase in Iran local crypto currency exchange and that led to higer demand of Bitcoin followed by other altcoins.

I agree though we don't know real circumstances behind. But the most obvious part is that the major exchange happens may be triggers other people to join the possible hype not knowing that it is just one of the many factors. However we couldn't blame them, could we? Still they drives the market at some spot though.

Images21

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Can we just move on now and forget about Iran? Shelf it because it is already a thing of the past. There is no more possible war brewing with Iran and the US. Time to move on to better topics. I am seeing a Bitcoin trying to make the four digit price a thing of the past. It is more exciting that the possible war.

Bagaji

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Quote from: vintages on January 15, 2020, 06:27:57 PM

So what about the sudden price increase lately, what could have contributed to it? Could this be because of Rouhani recent threat to US and UK? I believe things are tensioning out lately yet price is increasing.
I personally still don't think the previous price increase was as a result of the imposed war. It could be normal market activities or some investors are using this means to signal more buy.

I don't really believe that the price increase was just normal but a reaction to the tension between the United States of America and Iranian government. This is so because, there was rumours of price increase in Iran local crypto currency exchange and that led to higer demand of Bitcoin followed by other altcoins.

vintages

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So what about the sudden price increase lately, what could have contributed to it? Could this be because of Rouhani recent threat to US and UK? I believe things are tensioning out lately yet price is increasing.
I personally still don't think the previous price increase was as a result of the imposed war. It could be normal market activities or some investors are using this means to signal more buy.

Bagaji

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Quote from: hatshepsut93 on January 10, 2020, 08:54:46 PM

This Iran-US incident is over already, both sides don't want further escalation, but the price is still growing and defending the recent gains - this only means that the correlation with political instability isn't really that strong, it was more of a catalyst rather than the driving force behind the pump. Trading Bitcoin based on global news is as bad as trading with 8-ball, or maybe it's even worse.

Bitcoin and crypto currency in general are traded globally and if it react to the global news I don't it is a bad thing in my opinion and I believe Bitcoin has made history by reacting to the the global news just like Oil, gold and other stock.

beerlover

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I doubt it has affected yet, there needs to be war as in actual war, like planes go over Iran's biggest important places, killing people, dropping bombs, destroying governments, then actual military personal deployed there with either planes or at least planes to nearby nations like Iraq and then go there with tanks and such etc etc so that we can actually have something changing and affecting the price.

I understand that "potential" of a war might had some affects, doubt it was much at all (I mean I am sure it was much in Iran but not everywhere else) however potential of a war is one thing, actual war is another. If you think these are changes due to a potential war in Iran, do you really think there won't be something HUGE coming if an actual war starts?

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Quote from: arwin100 on January 10, 2020, 09:07:44 PM

Quote from: hatshepsut93 on January 10, 2020, 08:54:46 PM

This Iran-US incident is over already, both sides don't want further escalation, but the price is still growing and defending the recent gains - this only means that the correlation with political instability isn't really that strong, it was more of a catalyst rather than the driving force behind the pump. Trading Bitcoin based on global news is as bad as trading with 8-ball, or maybe it's even worse.

They have certain agreement to stop the conflict among them that's why it's better for us not to get worried on anything but there's a new tension coming with Canada due to that incident of plane crash where 176 people has been reported dead but I believe there's nothing to get worried from this anymore since it will never affect on the price of the bitcoins and I can't blame people to base on bad events like war since actually it can create a demand because people are afraid for their economy for that nightmare.

Bad events is not that litteral to reality, sometimes we have to consider positive outcome instead of expecting negative results. To those who have advance panic even though there's no confirmation coming from US and Iran. For me there's a possibility of btc price to pump, because there might be asset diversions like converting fiat to crypto when they fear about war.

barabarian1

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I think even though there is no Iran conflict and America the price of bitcoin will still go up. because it's been a few months at the level of $ 7k and I think now is the time for bitcoin to start increasing. and also bitcoin will be reduced by half in May before half the price of bitcoin will tend to go up. so I think yesterday's rise in bitcoin was more influenced by the market than the iran-american conflict.

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Quote from: Lionel on January 08, 2020, 06:22:38 PM

I read the news about the attacks in Iraq when BTC was at 8080$ , and i bought.

Then indeed the price rose to 8300 - 8450 a few hours later , confirming that when there is uncertainty , political tensions and possibility of a war, bitcoin is considered a safe asset like gold.
I would have profited at that point, if i sold.

The price remained @ 8300 for 12 hours, then it dipped to 7850 before my eyes, i got anxious, and i sold at 7900.
The reason of the dip?
I think because the news are saying that Iran stands no chance against U.S., so the people changed their mind about the possibility of a war.

Is that the reason for the dip in your opinion?
The gold price had the same behavior in the past 24 hours or so.

Also, was my emotional reaction right?
In that very moment, i honestly thought the price may dip to 7000 or below again sooner or later, i exactly don't know why. I felt it was just a temporary pump and dump due to a false climate of uncertainty ( since Iran is unlikely to start a war against U.S., but the people temporarily thought so).

But as soon as i sold, the price bounced and now it is at 8060.
So i am not sure my reaction was right.
What do you think?

I think you are a panic person. in investing in bitcoin and cryptocurrency we must be calm and not easily panic. bitcoin price fluctuations are common. You have to analyze and wait for some time, don't be easy to buy and sell bitcoin. take a look at the bitcoin movement.
and in my opinion to make a profit in investing bitcoin at least we have to wait and hold bitcoin for some time for about 6 months. at least wait until bitcoin has increased by 10%.

Ozero

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Quote from: hatshepsut93 on January 10, 2020, 08:54:46 PM

This Iran-US incident is over already, both sides don't want further escalation, but the price is still growing and defending the recent gains - this only means that the correlation with political instability isn't really that strong, it was more of a catalyst rather than the driving force behind the pump. Trading Bitcoin based on global news is as bad as trading with 8-ball, or maybe it's even worse.

Despite the fact that the tension in relations between the US and Iran has subsided, the price of bitcoin first returned to its usual level, which was before this conflict, and now it continues to grow again. Today, the price of bitcoin, according to CoinMarketCap, is $ 8,129 and is growing for the second day. Perhaps, indeed, this conflict served as a catalyst for the growth of the cryptocurrency market? It would be nice.

karanggatak

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in my opinion you have made the wrong decision. why are you in a hurry to sell your bitcoin. Before you should invest in bitcoin you should research that bitcoin has high fluctuations that can go up and down suddenly. and maybe the rise and fall of the price of bitcoin yesterday was affected by the conflict of Iran and America. You should still hold your bitcoin because I'm sure bitcoin can go up again. to succeed in investing in bitcoin we must have patience and not be easily panicked.

YOSHIE

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From here we can see cryptocurrency or Bitcoin has good potential in the world, although there are countries that do not accept the presence of bitcoin.
The proof, in the current turmoil between Iran and America, Bitcoin is positive towards current prices.

I think and contemplate, that bitcoin is very influential on the world economy and is the biggest investment for developing countries, which have the largest oil revenues.

This is a bitcoin marked one asset that is safe for humanity in the world.

arwin100

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Quote from: hatshepsut93 on January 10, 2020, 08:54:46 PM

This Iran-US incident is over already, both sides don't want further escalation, but the price is still growing and defending the recent gains - this only means that the correlation with political instability isn't really that strong, it was more of a catalyst rather than the driving force behind the pump. Trading Bitcoin based on global news is as bad as trading with 8-ball, or maybe it's even worse.

They have certain agreement to stop the conflict among them that's why it's better for us not to get worried on anything but there's a new tension coming with Canada due to that incident of plane crash where 176 people has been reported dead but I believe there's nothing to get worried from this anymore since it will never affect on the price of the bitcoins and I can't blame people to base on bad events like war since actually it can create a demand because people are afraid for their economy for that nightmare.

hatshepsut93

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This Iran-US incident is over already, both sides don't want further escalation, but the price is still growing and defending the recent gains - this only means that the correlation with political instability isn't really that strong, it was more of a catalyst rather than the driving force behind the pump. Trading Bitcoin based on global news is as bad as trading with 8-ball, or maybe it's even worse.

barota

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Quote from: Naida_BR on January 10, 2020, 01:38:35 PM

I think that the situation in the Middle East and especially in Iran is going to push the oil prices higher.
Even if, we are not going to see any further instability in the region they is a lot of doubt on how Iran is going to handle situations that take place in their region.

yes the prices oil rose after the crisis of middle east iran between and usa ; i dont know if bitcoin follow oil and it will continue the current rise to level 9000 usd . it seem bull run bitcoin activate again even without effect of crisis or changement of prices oil and gold and other stock in the near future

Bagaji

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Quote from: Twinkledoe on January 09, 2020, 06:22:07 PM

Quote from: Bagaji on January 09, 2020, 03:26:19 PM

You must have learn your lesson of not too greedy of holding up to your position for a long time. Supposed you sell when Bitcoin was trading around $8450 you end up in profit than you selling at lost. You can't maintain patience while the market is going against but you can hold while the market is in your favor. You need to have a realistic target before you place trade.

I believe he was thinking that it will go up more than that. But who knows, in the long run, it will be more than $8450 in the next coming weeks or months? He panicked and sold it lower than what he had bought it. That's a learning experience there. So if you see that you are already in profit and you don't want to wait any longer, better sell it, even if the profit is not what you wanted. At least you are on the positive side.

Some of us have had such experience before now and have shared those experience here in this forum do really need to learn from others people failior do that they will not be victim again but they will not.
Holding your investment forever will not earn you anything but when you buy low, sell high you will end up adding to your investment capital and not to keep holding forever.

Naida_BR

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I think that the situation in the Middle East and especially in Iran is going to push the oil prices higher.
Even if, we are not going to see any further instability in the region they is a lot of doubt on how Iran is going to handle situations that take place in their region.

rijaljun

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Quote from: sana54210 on January 10, 2020, 07:58:54 AM

First of all your reaction to buy bitcoin depending on a war between Iran and USA was wrong to begin with, the very first thing you should do shouldn't have been buying.

-snip-

On top of that bitcoin price didn't went down because Iran can't compete with USA, we all knew that already and price went up anyway, the price went down because USA is not going to war with Iran, they decided not to and that might have affected the price, at least a bit. Next time, don't make so emotional decisions depending on nations.

Can you explain the bold ones?

What I can understand is that you say speculate based on USA and Iran was a wrong thing, like it could do nothing with the price and that's why he should not have bought Bitcoin.

But then, you say that price went down because USA isn't going to war. This one contradicts your first sentence.

Or, basically the issue between USA and Iran, or any nations can only give negative impacts to the Bitcoin price? Uhh..

sana54210

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First of all your reaction to buy bitcoin depending on a war between Iran and USA was wrong to begin with, the very first thing you should do shouldn't have been buying.

However, after you already bought, you shouldn't have sold that quickly neither, that was a wrong movement as well, you ended up with a net negative that is a closed position and that is always a wrong move, even if you had to wait days or weeks or even months to make that money back.

On top of that bitcoin price didn't went down because Iran can't compete with USA, we all knew that already and price went up anyway, the price went down because USA is not going to war with Iran, they decided not to and that might have affected the price, at least a bit. Next time, don't make so emotional decisions depending on nations.

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Quote from: Bagaji on January 09, 2020, 03:26:19 PM

You must have learn your lesson of not too greedy of holding up to your position for a long time. Supposed you sell when Bitcoin was trading around $8450 you end up in profit than you selling at lost. You can't maintain patience while the market is going against but you can hold while the market is in your favor. You need to have a realistic target before you place trade.

I believe he was thinking that it will go up more than that. But who knows, in the long run, it will be more than $8450 in the next coming weeks or months? He panicked and sold it lower than what he had bought it. That's a learning experience there. So if you see that you are already in profit and you don't want to wait any longer, better sell it, even if the profit is not what you wanted. At least you are on the positive side.

GreatArkansas

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Quote from: Lionel on January 08, 2020, 06:22:38 PM

Also, was my emotional reaction right?
In that very moment, i honestly thought the price may dip to 7000 or below again sooner or later, i exactly don't know why. I felt it was just a temporary pump and dump due to a false climate of uncertainty ( since Iran is unlikely to start a war against U.S., but the people temporarily thought so).

But as soon as i sold, the price bounced and now it is at 8060.
So i am not sure my reaction was right.
What do you think?

Iran issue was the reason why Bitcoin pump just told by the others, not only Bitcoin was pumped but also the Gold and Oil prices.
The pump was almost $1,000 with the span of just around 24hours..
But for me, the current Iran issue nothing to do with Bitcoin especially if we based more on technical side:

About your decision selling it to around 7900, always remember, profits is profits. You can seek another trade opportunity nextime, don't be mad.

Bagaji

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You must have learn your lesson of not too greedy of holding up to your position for a long time. Supposed you sell when Bitcoin was trading around $8450 you would have end up in profit than you selling at lost. You can't maintain patience while the market is going against you but you can hold while the market is in your favor. You need to have a realistic target before you place trade.

its-a-me-mario

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Quote from: The Sceptical Chymist on January 08, 2020, 08:46:44 PM

Quote from: Lionel on January 08, 2020, 06:22:38 PM

i got anxious, and i sold at 7900.

This is why people don't make money trading--they let their emotions get the better of them. My opinion is that it's a much easier and less stressful tactic to just buy bitcoin and hold it for the long term. That way you don't have to be constantly watching every fluctuation of its price, wondering what's causing the price movements. Who cares, anyway? The jump to above $8k could have been due to the Iran-US situation or it might not have. We'll never know, will we?

You know you're on the "Trading Discussion" board right? A successful trading strategy can repeatedly beat a long-term buy and hold strategy, even a DCA strategy can beat buy and hold. Buy and hold may be the easiest, but it's not the most profitable.

bobitza

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Quote from: The Sceptical Chymist on January 08, 2020, 08:46:44 PM

No, it is not. Nobody in their right mind would consider bitcoin a safe haven asset, and all you'd have to do to convince yourself that it isn't would be to look at the 10-year price chart. Gold has been relatively stable in the past ten years, whereas bitcoin has been like a manic depressive mental patient off his medications.

And the attitude of new investors toward Bitcoin is like useless pills for a mental patient, there are so many kinds of drugs mixed together, they backfire each other accidentally, and finally, we get a bitcoin at present value, fly around and never settle down Cheesy

In the end, bitcoin cannot be an asset enough to replace gold, but at least it gives us freedom in the currency if in a remote place, another country, for example.

rijaljun

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Quote from: Raflesia on January 09, 2020, 07:17:28 AM

With that panic we didn't realize that bitcoin will grow again and need some more time, I always control what I experience now when buying bitcoin in such a situation, I will not be dependent on news that is aware there about my US and Iran conflicts will see the movement of bitcoin at any time to ensure an increase.

Just as The Pharmacist said above that you can forget the news and hold them for long time (like 4 years as how the halving works) and sell them when it is in the highest level. It is the easiet way to make profit but still, rumour and news (like what happened to Iran and USA) are useful for those who do trade in short-term basis to make daily, weekly or monthly profits.

adroitful_one

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I really didn't think the Iran situation had much influence on the price of Bitcoin. But, after seeing the price go up during all of that mess and then dumping almost immediately after President Trump released a statement, I must admit that I think I was wrong. I guess there's always paranoid people out there that think the worst is happening and will invest in things like this during tough times.

peter0425

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you denied to sell on $8,300 but rush to sell below 8k$?it seems that Greed covers the whole system here?that is why you have waited for more highers value but ended up panicking when the value starts to fall down.

this is why i make sure that everytime i invest in bitcoin is i can afford to hold that certain amount if ever the price bounce again.like what the scenario yesterday when price goes up speed and down speed as well.

Darooghe

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Bitcoin is bullish because in the long term it's inflation will decrease and disappear. That itself makes it grow in value because the same number of bitcoins has to describe growing value of the world around us. World conflicts are just a temporary distraction throwing the priorities off balance in some parts of the world. I don't think Iran in particular has any noticeable effect on bitcoin. US maybe. China more likely, because that's where many miners are.

Raflesia

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Quote from: rijaljun on January 09, 2020, 07:03:15 AM

Quote from: Lionel on January 08, 2020, 06:22:38 PM

But as soon as i sold, the price bounced and now it is at 8060.
So i am not sure my reaction was right.
What do you think?

Many people suggest not to add feeling or emotion in your decision making. I see this as panic reaction when you realize it was getting dip again and resulted you a loss.

Could not be wrong but just not totally right.

With that panic we didn't realize that bitcoin will grow again and need some more time, I always control what I experience now when buying bitcoin in such a situation, I will not be dependent on news that is aware there about my US and Iran conflicts will see the movement of bitcoin at any time to ensure an increase.

chip1994

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Quote from: Lionel on January 08, 2020, 06:22:38 PM

Also, was my emotional reaction right?
In that very moment, i honestly thought the price may dip to 7000 or below again sooner or later, i exactly don't know why. I felt it was just a temporary pump and dump due to a false climate of uncertainty ( since Iran is unlikely to start a war against U.S., but the people temporarily thought so).

But as soon as i sold, the price bounced and now it is at 8060.
So i am not sure my reaction was right.
What do you think?

We can all see that Iran and the US are affecting the price of gold and Bitcoin quite a lot. The decisions of each party have a great influence. So to trade profitable, you need to analyze more carefully about the situation between the two countries and make a decision to buy or not. Besides, you should have a solid plan for 2 cases. Your trade in losses is because you have no plans and emotions have guided you.

Wexnident

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The tension died down so it seems. The talks about it lasted for about 2 - 3 days, which was seen with the rise of BTC, but then Trump responded quite peacefully to the retaliation of Iran, which literally dwindled down the interests of traders towards BTC. As for any possible push, I doubt any in the near few weeks. FOMO about the halving should only appear by Mid February or so, and other than that, there really isn't much news capable of pushing BTC (Currently).

Quote from: Lionel on January 08, 2020, 06:22:38 PM

Also, was my emotional reaction right?
In that very moment, i honestly thought the price may dip to 7000 or below again sooner or later, i exactly don't know why. I felt it was just a temporary pump and dump due to a false climate of uncertainty ( since Iran is unlikely to start a war against U.S., but the people temporarily thought so).

No. I mean, any emotional reaction is honestly a HUGE mistake when it comes to trading. We only trade based on facts, analysis, predictions, etc. Heck, even a blind guess is a lot better than something called emotions.

rijaljun

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Quote from: Lionel on January 08, 2020, 06:22:38 PM

But as soon as i sold, the price bounced and now it is at 8060.
So i am not sure my reaction was right.
What do you think?

Many people suggest not to add feeling or emotion in your decision making. I see this as panic reaction when you realize it was getting dip again and resulted you a loss.

Could not be wrong but just not totally right.

Asmonist

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It may somehow affect the price as usd is an international currency so far. We cannot deny the fact that the movement of usd also affect btc as these two are seemingly the price reference of all currency. Bitcoin increases as usd losses its value. The war between Iran and America is a big opening number this year and is a big comeback of bitcoin somehow. It may sound bad as specifically it needs a war to make it work somehow but as they say anything could happen.

Wind_FURY

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Quote from: The Sceptical Chymist on January 08, 2020, 08:46:44 PM

Quote from: Lionel on January 08, 2020, 06:22:38 PM

i got anxious, and i sold at 7900.

This is why people don't make money trading--they let their emotions get the better of them.

Because they believe they're acting on the right information. I used to trade more actively based on news too. I learned the hard way. Haha.

Quote

My opinion is that it's a much easier and less stressful tactic to just buy bitcoin and hold it for the long term. That way you don't have to be constantly watching every fluctuation of its price, wondering what's causing the price movements. Who cares, anyway? The jump to above $8k could have been due to the Iran-US situation or it might not have. We'll never know, will we?

The only information we need. ATH in hashing power, ATH in Bitcoins HODLed.

https://bitinfocharts.com/comparison/bitcoin-hashrate.html

https://bitinfocharts.com/top-100-dormant_1y-bitcoin-addresses.html

Buy the dip, and HODL. Cool

boris singer

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Trump's attitude has softened and the US opened the opportunity for negotiations with Iran, on the other hand the Iranian foreign minister also did not want an escalation of war, they were only defending themselves. If we look at the latest conditions, we can be sure that bitcoin and gold will go down again. I do not want to associate it too much with crypto, but actually it has caused quite positive speculation about a temporary increase in btc.

enhu

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Looks like a buy high sell low example. I have done that several time in the past, you haven't done the worse yet after all the price hasn't drop a thousand. The possibility of war I think contributed the panic buying of BTC but its not just it because right now investors knew halving is coming, if you just wait the price will eventually go up. Keep watching the hourly chart for oversold signals.

vennali

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Quote from: The Sceptical Chymist on January 08, 2020, 08:46:44 PM

Quote from: Lionel on January 08, 2020, 06:22:38 PM

i got anxious, and i sold at 7900.

This is why people don't make money trading--they let their emotions get the better of them. My opinion is that it's a much easier and less stressful tactic to just buy bitcoin and hold it for the long term. That way you don't have to be constantly watching every fluctuation of its price, wondering what's causing the price movements. Who cares, anyway? The jump to above $8k could have been due to the Iran-US situation or it might not have. We'll never know, will we?
~snip~

Instead of selling, maybe you could have tried to buy puts and made it into an insurance, incase BTC fell under the price point you could relax since your BTC is safeguarded. Well, you are right, it could have been Iran situation or just price correction.

nicolas1979

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This week bitcoin has good movement but I see many people related this moment with global politic event, such as about USA president that suspected doing something bad. From this reason create negative impact into USD and giving bitcoin chance to fix his value. So far I know only currency and primary commodity ( oil ) will get impact if something bad happen in politic, I don't see any relation with bitcoin. Crypto movement only can moving by development program, economic issues and event. In this part I disagree involve politic issue with crypto market.

outatime1

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It's possible that a potential war with Iran could negatively affect the US economy or even the world economy. This could make investors move funds to other types of safe havens such as gold and cryptocurrencies.

Harriti

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Iran vs the United States really affected the price of gold and bitcoin in recent days. you can see the price of gold and bitcoin soaring and after Trump made no statement to punish Iran the price started to cool down. But about Bitcoin, I think people's buying psychology is still very large so for now we should hold. because not only does war increase Bitcoin, it is also increased by the upcoming Halving event in the future. This is the perfect time for people to push prices higher until June.

The Sceptical Chymist

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Quote from: Lionel on January 08, 2020, 06:22:38 PM

i got anxious, and i sold at 7900.

This is why people don't make money trading--they let their emotions get the better of them. My opinion is that it's a much easier and less stressful tactic to just buy bitcoin and hold it for the long term. That way you don't have to be constantly watching every fluctuation of its price, wondering what's causing the price movements. Who cares, anyway? The jump to above $8k could have been due to the Iran-US situation or it might not have. We'll never know, will we?

Quote from: Lionel on January 08, 2020, 06:22:38 PM

bitcoin is considered a safe asset like gold.

No, it is not. Nobody in their right mind would consider bitcoin a safe haven asset, and all you'd have to do to convince yourself that it isn't would be to look at the 10-year price chart. Gold has been relatively stable in the past ten years, whereas bitcoin has been like a manic depressive mental patient off his medications.

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After Trump's statements that he was not going to respond with military force after the Iranian attack in Iraq, the price of Bitcoin began to fall gradually, according to some technical analysts speculate that the price may reach $ 7.5k.

Source: https://coin360.com/coin/bitcoin-btc

Presumably, the market often moves through the action of emotions, in this case the news of Guerra is usually given as a Fundamental that greatly influences the market.

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

Lionel

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I read the news about the attacks in Iraq when BTC was at 8080$ , and i bought.

Then indeed the price rose to 8300 - 8450 a few hours later , confirming that when there is uncertainty , political tensions and possibility of a war, bitcoin is considered a safe asset like gold.
I would have profited at that point, if i sold.

The price remained @ 8300 for 12 hours, then it dipped to 7850 before my eyes, i got anxious, and i sold at 7900.
The reason of the dip?
I think because the news are saying that Iran stands no chance against U.S., so the people changed their mind about the possibility of a war.

Is that the reason for the dip in your opinion?
The gold price had the same behavior in the past 24 hours or so.

Also, was my emotional reaction right?
In that very moment, i honestly thought the price may dip to 7000 or below again sooner or later, i exactly don't know why. I felt it was just a temporary pump and dump due to a false climate of uncertainty ( since Iran is unlikely to start a war against U.S., but the people temporarily thought so).

But as soon as i sold, the price bounced and now it is at 8060.
So i am not sure my reaction was right.
What do you think?

Topic: How is the situation with Iran affecting the price (Read 520 times)