Bitcoin Forum

when the general of iran killed General Kasim, panic and chaos happens in iran
then the price of oil and bitcoin rises, i think there are people who is just capitalizing
on the situation like what happen before on other countries where in everythings price
skyrocket, since the government of iran is against bitcoin, and having caught mining
will result to something as a penalty, i dont think the people there will do such a risk
just to be rich, there are people i think that is just maybe not in the country or black
market trying to fuel this just to take advantage of the situation
Here is the link, saying it all that will show that bitcoin is being control in iran
by i think, group of organization trying to take advantage feel free to read
https://cointelegraph.com/news/bitcoin-selling-for-24-000-per-btc-in-iran-as-us-tensions-escalate

Supply and demand. Maybe you dont want to sell your bitcoin, but everyone has their price.

There are very few offers, when that happens you can manipulate the price. But that doesn't mean you'll sell many bitcoins at that price when people are aware of the value of bitcoins on the open market.

It was just sensational news, that's all.

It's not about the supply and demand. They mentioned in the article that the real price of bitcoin in iran is still close when compared to other countries. It only seem high at first because the rates are low for the exchanges but the truth is they're using a different rate and not the official one. The situation in Iran seems to be like that for quite some time as i've seen older discussions about having way different rates and now it's being brought up once again after what happened recently between them and the US.

So, of a country decide bitcoin cost for that place it means two things:

1.-Government has a lot of Bitcoins.
2.-People can do a lot of money by buying cheap and sell them in Iran.

if you really understand the news then the price isn't really $ 24,000, In reality, it is not uncommon for countries with weak national currencies  to have dual exchange rates: one "official" rate set by the country's central bank and the other, the actual market rate, or the real amount of dollars a regular person would get for their rials, here it is clear that these prices are not real prices, I'm sure no one really wants to pay this much per Bitcoin.

Fake news: The Bitcoin Price in Iran Isn’t Even Close to $24,000 Despite Reports Claiming Otherwise (https://nulltx.com/the-bitcoin-price-in-iran-isnt-even-close-to-24000-despite-reports-claiming-otherwise/). As per that article:

The article has been updated since you posted it:


So no, there's no manipulation going on, and there's probably no premium for Bitcoin either.

The important events that occur in Iran, somehow the market speculators try to take advantage to sell more expensive, when in a very bad economy country, they usually have two exchange rates, the normal one that puts the government or Central Bank and the that imposes the so-called "Black Market", where it is the one that comes closest to reality when in a country it has exchange control.

This type of supply and demand that is created is alternate to that placed by the Central Bank, in every way it is handled is the black market tax, perhaps, taking into account this premise is that that price level was formed for Bitcoin in Iran usually does so when it is a country with high inflation and people want to safeguard or shelter their money there.

There are many ways of manipulations, some ways can be visible or can be traced while others can be subtle. Now, even just holding Bitcoin and not selling at the current price can be in a way a form of manipulation. In case it is true that in Iran Bitcoin has already reached a very high premium price, it can be because there are people who are looking for this cryptocurrency maybe as a form of preserving their wealth in the face of a "possible" war with a big country like the USA. Had there been no demand there will be no such a surge in price. The same thing with oil. In any case of a sudden burst of price, there will always be people who can be benefited and that is just very normal. There will be people who are lucky enough that can turn problems into opportunities.

The price is driven by local demand, and not adhering in global market standard. Since the internet has been censored, and exchanges are also retricted, that gives the actual market price, P2P exchange have sellers that actually increased the price based on the 'need' of such an asset. Although in my opinion, it's a blown up news. Though it could be also that the price is reasonable, and the tension in Iran really is drastic compared to what most of us knows outside Iran.

Though there's already some claims that it isn't happened and the value of bitcoin still close to what it is from the whole market but the possibilities are there, since there's ongoing tensions and most of the time wealthy people are finding ways to hide or divert their money to other form of assets, aside from gold if they knew about this crypto currency they will use it as form of storing their assets.

Maybe It has depending on the situations on going in Iran or somebody utilized the situation to get the benefits from bitcoins and making bitcoin manipulations in Iran.

Yes, bitcoin is actually controlled exclusively by forces in Iran and trying to sell bitcoin at a price three times higher than it currently is. This is an unacceptable act and it will have implications for the future of bitcoin. When there are many buyers with high prices for bitcoin, they will be willing to sell bitcoin at a reasonable price when it is growing again. Besides, this job will make many people poor because I believe that the price of bitcoin will soon increase, I am really urgent about this!

It's normal that during war of some uncertainty, people are always scared of the aftermath, they just buy and sell in panic for unforeseen occurrences and people just make money while other loss.

internet is the most liar among everything thats why dont just believe in what you are reading and sometimes is not worth the time.

it seems that the article is Fake because there are some claims above pointing that it isn't true as we knew Media mate,they will do everything just to sell their News.

try to read above conversation mate and you will find the right term to use about this matter.

Yeah, clickbait gets all the clicks. Low liquidity. Potentially a shitty fiat currency that is highly speculative to devalue. In spots like this, you can see very weird price points. If this were the actual market at 3x the price, there would be massive plays into this to drive the price to equilibrium on arbitrage profit. But you won't see this really since it doesn't exist.

What going on price bitcoin in Iran and global country have far away, Iran bitcoin raise above $24k and global bitcoin price only above $7500, why more than $16,000 price gap between in Iran and global currency, how does not possible for bitcoin member arbitrage from global  bitcoin and selling with Iran bitcoin, most profitable.

It's a worthless article for sure, but how is their clarification wrong? From what I can tell by your explanation, you basically just said the "official rate" isn't the government rate, but rather the street value. If we take semantics a bit more loosely, you're both saying the same thing: that Iran's government has its own dictated forex value (which the article refers to as the "official rate", whereas you simply describe it as government-set value) separate from its actual value (which you refer to as the "official rate", or street value which you and the article agree with), and that no one really uses it.

...or did I misunderstand you somehow?

The events in Iran gave the opportunity to greatly inflate the price of Bitcoin to speculators on localbitcoins. Iranian citizens apparently can't buy Bitcoin on the Internet at the usual price, otherwise who would buy digital gold at such an inflated price.

In countries where crypto exchanges are not present and banks don’t support fiat to crypto conversion, prices of bitcoin in such countries are always high at localbitcoins. In my country price of bitcoin at localbitcoin is way high. I didn’t checked localbitcoins of iran before this attack but I am sure it must be at high end.

It's kinda hard to actually benefit from any sort of premium in countries like Iran, Venezuela, etc. The actual liquidity is so thin that you probably will waste more time than actually make money waiting for your orders to get filled. Every 1BTC you add to the ask pool will significantly increase the available supply and tank the premium hard.

Also, what we consider premiums are premiums over our spot price. For people in the aforementioned countries these aren't premiums, but their spot prices. There just isn't a way to acquire Bitcoin any cheaper. Not saying it's totally impossible to arbitrage back and forth, but people's glorified idea of arbitrage trading just doesn't come to fruition here. Can't make it sound any better.

Maybe it could be Yes. or is it just linking the current problem with the rising price of Bitcoin ... Well! people can speculate anything about the price of Bitcoin whether manipulation or not. However, if we talk about the fact that the current movement of Bitcoin could have been influenced by Halving Day which is getting closer I guess

Advantage to sell?
$24k is the buying rate.
So what is the selling rate?  ???
$23k? It is an easy money if they will sell big amounts.
Then, they could just reason out that the dump came from the people who sold all their bitcoin together.
Yes, that might happen. Getting rich using the mayhem that is happening on their country. What a wise and evil mind they have.

Personally considering the entire nature of the bitcoin ecosystem, I don't really see any relation between the killing of the Iranian general to the sudden increase in the market value of Bitcoin. In the later part of 2019, the rise in the price of Bitcoin was associated to the China government embracing blockchain technology and its usefulness and now this. Why don't people get it that these news are just FUDs.

Hmm yeah that's possible, the reason why news like this is popular now, it seems like there are people who want to manipulate prices through the tension between Iran and the US. But even so, this incident was able to drive the price of bitcoin rises.

the two things you mentioned have inverse sentiments in my opinion.

bitcoin prices actually dropped not long after xi jinping announced they appreciated the blockchain, but still had two sides where they continued to dismantle crypto activities that were considered to violate their policies, they did not change their attitude at all towards crypto. Then about news related to Iran, you can see in detail at localbitcoins. Fud or not is very clearly related to the panic situation, and the price of bitcoin is not proven to be down at this time.

manipulation can indeed occur in conditions like this, tensions make people lose control and some are manipulating prices on the exchange, this is not only the crypto exchange because in many other exchanges there are also different impacts. It is better not to follow the current conditions, because I think there can be a lot of bad things if you follow market manipulation. especially for people who are not ready to take and decide when to start and stop.

It is plain and simple, because of fear, people convert their fiats to crypto. In addition, people outside of iran take it as advantage and opportunity to spread news of a price increase which is in fact true, that is why it seems to be manipulated.

Did you read the article itself? There is no price manipulation of bitcoin. What is being manipulated is the Iranian rial (IRR). The article says it all. There are 2 rates published in Iran, the official rate which we all see everywhere and the actual market rate. Basically, if you go to the money changer and you buy dollars for IRR, the guy will see it to you at the rate you see which is basically 3 times the official rate. Nothing to do with BTC.