Why the price in iran of bitcoin is manipulated

[msarro]

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.

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[1Referee]

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.

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.

[marcous]

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

[Dart18]

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.

[Youghoor]

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

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.

[Amel]

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.

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.

[oktana]

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.

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.

[arimamib]

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.

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.

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.

[Debonaire217]

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.

[slaman29]

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.