Bitcoin in Iran touch 26.000 USD

[masterkiller]

if it is like that then this can be a business field for us crypto traders, by the way we all buy bitcoin on the global market and immediately sell it in the iran market to get multiple profits, but unfortunately some sources say we can't do that, only Iranians are buying and selling bitcoin in Iran

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[ningrumxxi]

I read a few articles yesterday about the price of Bitcoin that touched the price of USD 24,000 in Iran, see the following article:

https://cryptoslate.com/local-bitcoin-price-hits-record-high-of-24000-in-iran/

even up to 26000 usd

https://thenextweb.com/hardfork/2018/09/06/bitcoin-price-surge-iran/

you can see all the market price here in irani local exchange

https://localbitcoins.com/country/IR

the questions are:
why is the price of Bitcoin in Iran is more expensive than global prices?
Is it really possible for a country to determine the selling price of Bitcoin?

Such an event is impossible if a country is not problematic, because the Iranian currency is still overshadowed by sanctions from America, America cannot regulate bitcoin but can regulate dollar demand in Iran, which is the government's difficulty in providing dollars to buy bitcoin, the value of the Iranian currency can vary greatly to produce expensive bitcoin prices.

[layoutph]

If this is true,  it wont last for long.  It will be manipulated by arbitrage practicers.  Another thing is you must be from their country to enable you to use their local exchange site.

[dohh]

I read a few articles yesterday about the price of Bitcoin that touched the price of USD 24,000 in Iran, see the following article:

https://cryptoslate.com/local-bitcoin-price-hits-record-high-of-24000-in-iran/

even up to 26000 usd

https://thenextweb.com/hardfork/2018/09/06/bitcoin-price-surge-iran/

you can see all the market price here in irani local exchange

https://localbitcoins.com/country/IR

the questions are:
why is the price of Bitcoin in Iran is more expensive than global prices?
Is it really possible for a country to determine the selling price of Bitcoin?

It isnt. Dont You think, if it was like that, all decent news channels would write about it? More source criticism, please...

[admosfir]

how can this case happen? even though what I know is that the price of bitcoin around the world is same, if what happens is a fact , there will be many bitcoin holders who sell it in that exchange, what exchange is it?

[BlockchainGod]

I think this is a price anomaly caused by the fact that Iran has large commissions for withdrawal of funds to the stock exchange.

[Vipersia]

It mus be a good news for Irinian investors but this might be for inflanatin and beside this I think If you think someone super trusted you can send money in the country then it is good.

[pixie85]

There's a video of Alessio Rastani trying to exchange physical pounds for rials in Iran and nobody wants to buy because the exchange rates are so bad. Fiat exchanges are literally closing their doors because they're afraid of being bought out by foreigners. at current rates you can buy a good meal at a restaurant for $5. For the same money in the US you can get a coffee and a donut. The rates can be real but it doesn't mean that if you put coins for sale people will buy. $26000 is a fortune for them.

[omorfi]

I have read about that news on some sites at the last week. That could be fat-finger-error with a huge instant up price tail that caused by a huge volume order ?

[Patriode]

I think that, since the Iranian people do not have the dollar, they use the local currency so we can see the difference in price of Bitcoin. Beside this we might make a wrong calculation mistake.

[Gary Levanevskii]

I think this is not very good. It says how bad the situation in Iran is and how difficult it is for the population to own bitcoins. Perhaps in the future the situation will change but I think Iran is still far behind to implement the blockchain.

[mazdafunsun]

why is the price of Bitcoin in Iran is more expensive than global prices?
Is it really possible for a country to determine the selling price of Bitcoin?

You are a Sr.Member in this forum how it is possible that you have missed this situation before?
There have been numerous accasions when this have happen:
1)Some country in South Africa, matbe it was  Zimbawe
2)And how you did miss Japan prices while in the bubble?

[znation]

I have read about that news on some sites at the last week. That could be fat-finger-error with a huge instant up price tail that caused by a huge volume order ?

I also think like you, but will return to the price corresponding to the present.

[drm]

why is the price of Bitcoin in Iran is more expensive than global prices?
Is it really possible for a country to determine the selling price of Bitcoin?

You are a Sr.Member in this forum how it is possible that you have missed this situation before?
There have been numerous accasions when this have happen:
1)Some country in South Africa, matbe it was  Zimbawe
2)And how you did miss Japan prices while in the bubble?

these news articles about bitcoin being 25k in zimbabwe and 18k in nigeria etc are usually just bullshit.

Just like it's not true in this case either.

why is the price of Bitcoin in Iran is more expensive than global prices?

It isn't. The "news" that Bitcoin was selling for $24,000 in Iran was based on the incorrect exchange rate - the subsidized exchange rate of 1 USD to 42k IRR set by the government for imports of certain goods. The actual exchange rate of 1 USD to 140k IRR gives the real price.

[aizen10]

I read a few articles yesterday about the price of Bitcoin that touched the price of USD 24,000 in Iran, see the following article:

https://cryptoslate.com/local-bitcoin-price-hits-record-high-of-24000-in-iran/

even up to 26000 usd

https://thenextweb.com/hardfork/2018/09/06/bitcoin-price-surge-iran/

you can see all the market price here in irani local exchange

https://localbitcoins.com/country/IR

the questions are:
why is the price of Bitcoin in Iran is more expensive than global prices?
Is it really possible for a country to determine the selling price of Bitcoin?

Its because they have KYC on their own exchange site and cannot trade or use other exchange site aside form their own. Meaning as they want to get involve in crypto mostly in bitcoin, they accept the risk and the price will sky rocket on thei own country. Hoping that this will also happen in the globe.

[vnck25]

I think this is incorrect something to do with an exchange error in Iranian currency (Iranian Rial ) and BTC value. Anyways I assume that the price of BTC has to be somewhat higher because of the adverse restrictions in Iran. Hopefully this error in exchanges will be rectified soon.

[Sony.UK]

All the articles cannot be taken as true.

If the Bitcoin touched 24k USD then all people will be sold their money at that time itself.

I really want that to happen in the market for sure and I am expecting the bitcoin may reach this destination value in couple of months.

[RomertL]

For Iran people bitcoin it is a great opportunity to earn good money. So cryptocurrency has a bigger value in their country.

[Daniel91]

All the articles cannot be taken as true.

If the Bitcoin touched 24k USD then all people will be sold their money at that time itself.

I really want that to happen in the market for sure and I am expecting the bitcoin may reach this destination value in couple of months.

I also don't believe this news.
There is no real reason that btc price can be so much different in Iraq than in the rest of the world.
There is no country or government behind bitcoin so nobody can manipulate price in some country.

[BlackFly]

Isn't the price of bitcoin same as all over the world. Since when iran has different type of bitcoin. This article making people more confusing. It's like result of miscalculation.