Why the price in iran of bitcoin is manipulated

[akirasendo17]

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

[southafricadude]

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

[th3nolo]

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.

[ralle14]

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

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.

[seoincorporation]

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.

[MURONDI]

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.

[Yaunfitda]

Fake news: The Bitcoin Price in Iran Isn’t Even Close to $24,000 Despite Reports Claiming Otherwise. As per that article:

While that is the official Iranian central bank exchange rate, it is not the proper market value.

That exchange rate is only used by banks, and the government.

Everyone else used a rate which is roughly one-third of the official rate.

As such, the bitcoin price is Iran is just $8,000, not too far off from the actual global market value.

There is still a premium to be paid, but far from a steep one.

It is evident to put things like these in their proper perspective at all times.

Falsely reporting the bitcoin value in Iran is something everyone should avoid.

There is enough fake news on the internet as it is, and bitcoin’ reputation shouldn’t be tarnished by it.

[jseverson]

The article has been updated since you posted it:

In reality, it is not uncommon for countries with weak national currencies — such as Venezuela — 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.
[...]
In other words, while the “official rate” is around 42,000 IRR per 1 USD — which would result in the $24,000 price per Bitcoin — the actual rate in the street would give one something closer to BTC’s actual global market price, currently around $7,300 USD.

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

[LUCKMCFLY]

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.

[CryptoBry]

...bitcoin is being control in iran by i think, group of organization trying to take advantage feel free to read

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.

[blckhawk]

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.

[Pamadar]

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.

[ragavancoin]

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.

[drlukacs]

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

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!

[omone1]

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.

[carlisle1]

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.

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.

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

[theskillzdatklls]

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.

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.

[cotton ball]

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.

[jseverson]

-snip-

that "edit" is also wrong. nowadays they are turning Iran into China as far news goes (eg. China banned bitcoin!). they release some nonsense not at all researched article and people eat it up.
the fact is that the "official rate" of USD in Iran is around 12k which is also the street value of it and with that rate you can see that bitcoin is being traded around the same price that it is everywhere else. and nothing has changed over the past couple of days that this news keeps coming out.

as for 42000 it is not "official rate". USD has one rate but this low value is the rate that government sets for importing certain basic needs such as medicines so that it can prevent super inflation of these items.

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?

[EdvinZ]

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.