US- Iran Tensions boost Bitcoin price to $24,000

[Bagaji]

The recent airstrike on the Baghdads airport orchestrated by the United States of America President Donald Trump which killed the head of the Iranian revolutionary gaurds General Qasem Soleimani. This has led to the increase in the market value of the global oil price and that of Bitcoin in recent time but who knows how long will this effect last.
The Iranian restriction to access Internet was another factor that led price increase of Bitcoin to around $24,000 per Bitcoin on the local Bitcoin exchange. For further information visit https://cointelegraph.com/news/bitcoin-selling-for-24-000-per-btc-in-iran-as-us-tensions-escalate

[nelson4lov]

It's still too early to say what would happen to the market following a potential war between both countries. I don't even know if it would yield a better result though I'm quite sure that the US dollar will take severe hit.

[hello_good_sir]

Again, pricing in terms of the official exchange rate for Iranian rials means almost nothing for a currency that is so hyperinflated and closed off to the rest of the world.

If you convert the price of each BTC using the unofficial exchange rate, you'll likely find that the actual BTC price is very close to the global mean.

That's just the way it is for countries with significant capital controls that are imposed on foreign exchange. People pay a premium in terms of official exchange rates because they know that they can't get their money out using that official exchange rate, and thus demand outstrips supply for forex and vice versa for their domestic currency. We've seen this with India, Korea, and Venezuela in recent days as well. Nothing special.

[samcrypto]

The economy is really affecting the price of a currency and bitcoin hits that price again because of the crisis. Sell you Bitcoin in Iran and still its value will be the same if you use it outside Iran, i think they experiencing a hyperinflation, but this war can’t affect the price of bitcoin as a whole we are still down right now.

[Hallmader]

For as long as the effect on the price of Bitcoin is isolated only in Iran, this is not something everyone should be celebrating. There is no real boost in the actual price of Bitcoin if this is the case. Bitcoin is global and it should grow globally. It should not just be growing with a specific area where there is violence.

[onrise]

It's still too early to say what would happen to the market following a potential war between both countries. I don't even know if it would yield a better result though I'm quite sure that the US dollar will take severe hit.

This would have the effect on the world economy and not just on the two of the countries as Iran supply oil  to many countries and there prices would increase manifolds leading to slower economy growth . Already people are suffering because of the bad economy in many countries and this tension would just yield no good things. Will need to check how does BTC market react to such news.

[Wexnident]

I reallllyyy doubt a single country would boost the price of BTC to new heights. I mean, yes it could affect it, but counting the amount of traders in the whole world, Iran honestly takes only a small portion of it. The price may rise by a few hundred dollars, but that is its limit. There's also the issue of the Iran currency and economy being way too underdeveloped. It can be even considered quite dead tbh. Changing their money from Iran currency to TC then to foreign currency is a lot easier, compared to Iran currency to foreign currency.

It's still too early to say what would happen to the market following a potential war between both countries. I don't even know if it would yield a better result though I'm quite sure that the US dollar will take severe hit.

The US dollar has already took a hit with how their global debt has accumulated. Banks are already expecting a recession and It's honestly hard to determine whether the US dollar could still live out the next decade.

[gabbie2010]

For as long as the effect on the price of Bitcoin is isolated only in Iran, this is not something everyone should be celebrating. There is no real boost in the actual price of Bitcoin if this is the case. Bitcoin is global and it should grow globally. It should not just be growing with a specific area where there is violence.

Apart from celebrating the price of bitcoin in Iran we should also be consigned with war tension between the two countries and its consequences to the citizens particularly Iran after it had turns to a full blown war.

[akram143]

It is also going to help the price of bitcoin to increase worldwide due to the inflation which will occurs as a result of oil price increase on developed and developing nations.Many countries commented this action from Trump could be the beginning of world war III so brace yourself by holding more bitcoins.

[Amel]

For as long as the effect on the price of Bitcoin is isolated only in Iran, this is not something everyone should be celebrating. There is no real boost in the actual price of Bitcoin if this is the case. Bitcoin is global and it should grow globally. It should not just be growing with a specific area where there is violence.

Apart from celebrating the price of bitcoin in Iran we should also be consigned with war tension between the two countries and its consequences to the citizens particularly Iran after it had turns to a full blown war.

We cannot feel the rise of bitcoin at the expense of what is happening right now, because in the end if the worst scenario of the two countries is carried out it will be a nightmare for the world including humanity, this is no longer a matter of bitcoin and the economy but a matter of humanity.

[The Sceptical Chymist]

This is horrible journalism:

“So if you wanna buy USD today in Tehran, the price is about 140,000 IRR,” he says.

"Wanna" is not a word; it's how people write when they don't know how to write properly, and this quote is attributed to some random "crypto expert" which makes it even worse.

And the takeaway message from the article is that some people are asking for $24k per bitcoin, but they're probably not going to get that price from buyers.  That would make sense, because who in their right mind would pay that kind of premium for bitcoin when 1) it's not necessary for daily living, and 2) they could probably do way better on an exchange and not localbitcoins.

Sometimes I hate crypto news sources.

[romero121]

The war tension keeps rising with time, and I don't find any reason on this for rise in the price of bitcoin. Right now the gradual growth is happening, and this in turn will pump high when more investment flow takes place over bitcoin and other cryptocurrencies. When we talk of war, maybe a small number of investors will move fiat towards bitcoin to secure the capital. By the time if manipulated there'll be good rise, and sometimes the same is manipulated to drop low with the support of speculators.

[anxenial]

War is just a matter of time. This kind of attack may lead to upcoming war which become great business opportunity for selling military armaments using fiat or digital assets. It might help to boost crypto price

[mindrust]

This is nothing. Imagine what would happen to the bitcoin prices if there was a worldwide conflict. Easy >$50k, probably close to $100k.

[Mpamaegbu]

War is just a matter of time. This kind of attack may lead to upcoming war which become great business opportunity for selling military armaments using fiat or digital assets. It might help to boost crypto price

The American Republican strong men are arms and ammunition dealers. So, it's even to their advantage that the US should go into a war. It aids their business. On the other hand, it's becoming a pattern that whenever the US is in acrimony with another country Bitcoin price tends to soar. I observed this also during the China-US trade war. And now, this.

[alan2here]

War is just a matter of time. This kind of attack may lead to upcoming war which become great business opportunity for selling military armaments using fiat or digital assets. It might help to boost crypto price

I really don't want this to happen at this time, because any war will only make that country worse and people's lives will be hard to protect when this war happens. Perhaps the military weapons business will be very successful, but certainly no people want it. Hopefully both countries will have a new peaceful solution because I'm so afraid of World War 3.

Currently, Bitcoin's rise to $24,000 is due to the people in Iran starting to feel scared and very few people can trade with Bitcoin because the supply in this country is very limited.

[alyssa85]

War is just a matter of time. This kind of attack may lead to upcoming war which become great business opportunity for selling military armaments using fiat or digital assets. It might help to boost crypto price

What will be the benefit of starting a war, from Iran's point of view?

War is expensive, you are literally setting money on fire when you fire off missiles. I'm not sure Iran can afford it.

[BuxCoin]

stock markets were negative and oil and gold were negative there was fall of 1-2% in all of the major stock index and negative sentiments were there so while there was 1-2% fall in stock market , price impact on bitcoin was very less as of now , its to early to say that this will boost price to $24,000 if there is retaliation from iran then price will raise

[samuraijin]

I have read this news if the price of bitcoin is rising there, it seems like war needs to be extended to other countries to increase the price of bitcoin, but it seems very cruel to me to say this, when bitcoin prices increase whether there should be war, fiat money and gold don't seem be another option there, if the price of bitcoin increases in iran but not here

[Casdinyard]

War is just a matter of time. This kind of attack may lead to upcoming war which become great business opportunity for selling military armaments using fiat or digital assets. It might help to boost crypto price

What will be the benefit of starting a war, from Iran's point of view?

War is expensive, you are literally setting money on fire when you fire off missiles. I'm not sure Iran can afford it.

Sure they can't afford it but pretty sure they're backed by Islamic community especially terrorist groups so they can afford it though it's nothing from what US have.They'll do revenge until they had Trump's body wrap by US flag. Oh, idk who started the war but the killing of their general triggers everything.