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Author Topic: How is the situation with Iran affecting the price  (Read 233 times)
Lionel
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January 08, 2020, 11:22:38 PM
 #1

I read the news about the attacks in Iraq when BTC was at 8080$ , and i bought.

Then indeed the price rose to 8300 - 8450 a few hours later , confirming that when there is uncertainty , political tensions and possibility of a war, bitcoin is considered a safe asset like gold.
I would have profited at that point, if i sold.

The price remained @ 8300 for 12 hours, then it dipped to 7850 before my eyes, i got anxious, and i sold at 7900.
The reason of the dip?
I think because the news are saying that Iran stands no chance against U.S., so the people changed their mind about the possibility of a war.

Is that the reason for the dip in your opinion?
The gold price had the same behavior in the past 24 hours or so.

Also, was my emotional reaction right?
In that very moment, i honestly thought the price may dip to 7000 or below again sooner or later, i exactly don't know why. I felt it was just a temporary pump and dump due to a false climate of uncertainty ( since Iran is unlikely to start a war against U.S., but the people temporarily thought so).

But as soon as i sold, the price bounced and now it is at 8060.
So i am not sure my reaction was right.
What do you think?
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January 09, 2020, 01:35:00 AM
 #2

After Trump's statements that he was not going to respond with military force after the Iranian attack in Iraq, the price of Bitcoin began to fall gradually, according to some technical analysts speculate that the price may reach $ 7.5k.


Source: https://coin360.com/coin/bitcoin-btc

Presumably, the market often moves through the action of emotions, in this case the news of Guerra is usually given as a Fundamental that greatly influences the market.

Source: https://cointelegraph.com/news/bitcoin-price-retreats-to-8k-as-trump-defuses-potential-war-with-iran




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January 09, 2020, 01:46:44 AM
 #3

i got anxious, and i sold at 7900.
This is why people don't make money trading--they let their emotions get the better of them.  My opinion is that it's a much easier and less stressful tactic to just buy bitcoin and hold it for the long term.  That way you don't have to be constantly watching every fluctuation of its price, wondering what's causing the price movements.  Who cares, anyway?  The jump to above $8k could have been due to the Iran-US situation or it might not have.  We'll never know, will we?

bitcoin is considered a safe asset like gold.
No, it is not.  Nobody in their right mind would consider bitcoin a safe haven asset, and all you'd have to do to convince yourself that it isn't would be to look at the 10-year price chart.  Gold has been relatively stable in the past ten years, whereas bitcoin has been like a manic depressive mental patient off his medications.

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January 09, 2020, 02:11:42 AM
 #4

Iran vs the United States really affected the price of gold and bitcoin in recent days. you can see the price of gold and bitcoin soaring and after Trump made no statement to punish Iran the price started to cool down. But about Bitcoin, I think people's buying psychology is still very large so for now we should hold. because not only does war increase Bitcoin, it is also increased by the upcoming Halving event in the future. This is the perfect time for people to push prices higher until June.



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January 09, 2020, 03:26:53 AM
Merited by moviebuff777 (1)
 #5

It's possible that a potential war with Iran could negatively affect the US economy or even the world economy.  This could make investors move funds to other types of safe havens such as gold and cryptocurrencies.

 
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January 09, 2020, 07:07:22 AM
 #6

This week bitcoin has good movement but I see many people related this moment with global politic event, such as about USA president that suspected doing something bad. From this reason create negative impact into USD and giving bitcoin chance to fix his value. So far I know only currency and primary commodity ( oil ) will get impact if something bad happen in politic, I don't see any relation with bitcoin. Crypto movement only can moving by development program, economic issues and event. In this part I disagree involve politic issue with crypto market.

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January 09, 2020, 07:53:47 AM
 #7

i got anxious, and i sold at 7900.
This is why people don't make money trading--they let their emotions get the better of them.  My opinion is that it's a much easier and less stressful tactic to just buy bitcoin and hold it for the long term.  That way you don't have to be constantly watching every fluctuation of its price, wondering what's causing the price movements.  Who cares, anyway?  The jump to above $8k could have been due to the Iran-US situation or it might not have.  We'll never know, will we?
~snip~
Instead of selling, maybe you could have tried to buy puts and made it into an insurance, incase BTC fell under the price point you could relax since your BTC is safeguarded. Well, you are right, it could have been Iran situation or just price correction.

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January 09, 2020, 08:26:29 AM
 #8


Looks like a buy high sell low example. I have done that several time in the past, you haven't done the worse yet after all the price hasn't drop a thousand. The possibility of war I think contributed the panic buying of BTC but its not just it because right now investors knew halving is coming, if you just wait the price will eventually go up. Keep watching the hourly chart for oversold signals.


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January 09, 2020, 09:16:45 AM
 #9

Trump's attitude has softened and the US opened the opportunity for negotiations with Iran, on the other hand the Iranian foreign minister also did not want an escalation of war, they were only defending themselves. If we look at the latest conditions, we can be sure that bitcoin and gold will go down again. I do not want to associate it too much with crypto, but actually it has caused quite positive speculation about a temporary increase in btc.
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January 09, 2020, 11:30:12 AM
 #10

i got anxious, and i sold at 7900.

This is why people don't make money trading--they let their emotions get the better of them. 


Because they believe they're acting on the right information. I used to trade more actively based on news too. I learned the hard way. Haha.

Quote

My opinion is that it's a much easier and less stressful tactic to just buy bitcoin and hold it for the long term.  That way you don't have to be constantly watching every fluctuation of its price, wondering what's causing the price movements.  Who cares, anyway?  The jump to above $8k could have been due to the Iran-US situation or it might not have.  We'll never know, will we?


The only information we need. ATH in hashing power, ATH in Bitcoins HODLed.

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Buy the dip, and HODL. Cool

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January 09, 2020, 11:48:25 AM
 #11

It may somehow affect the price as usd is an international currency so far. We cannot deny the fact that the movement of usd also affect btc as these two are seemingly the price reference of all currency. Bitcoin increases as usd losses its value. The war between Iran and America is a big opening number this year and is a big comeback of bitcoin somehow. It may sound bad as specifically it needs a war to make it work somehow but as they say anything could happen.

 
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rijaljun
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January 09, 2020, 12:03:15 PM
 #12

But as soon as i sold, the price bounced and now it is at 8060.
So i am not sure my reaction was right.
What do you think?

Many people suggest not to add feeling or emotion in your decision making. I see this as panic reaction when you realize it was getting dip again and resulted you a loss.

Could not be wrong but just not totally right.
Wexnident
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January 09, 2020, 12:07:20 PM
 #13

The tension died down so it seems. The talks about it lasted for about 2 - 3 days, which was seen with the rise of BTC, but then Trump responded quite peacefully to the retaliation of Iran, which literally dwindled down the interests of traders towards BTC. As for any possible push, I doubt any in the near few weeks. FOMO about the halving should only appear by Mid February or so, and other than that, there really isn't much news capable of pushing BTC (Currently).

Also, was my emotional reaction right?
In that very moment, i honestly thought the price may dip to 7000 or below again sooner or later, i exactly don't know why. I felt it was just a temporary pump and dump due to a false climate of uncertainty ( since Iran is unlikely to start a war against U.S., but the people temporarily thought so).
No. I mean, any emotional reaction is honestly a HUGE mistake when it comes to trading. We only trade based on facts, analysis, predictions, etc. Heck, even a blind guess is a lot better than something called emotions.

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January 09, 2020, 12:10:41 PM
 #14


Also, was my emotional reaction right?
In that very moment, i honestly thought the price may dip to 7000 or below again sooner or later, i exactly don't know why. I felt it was just a temporary pump and dump due to a false climate of uncertainty ( since Iran is unlikely to start a war against U.S., but the people temporarily thought so).

But as soon as i sold, the price bounced and now it is at 8060.
So i am not sure my reaction was right.
What do you think?
We can all see that Iran and the US are affecting the price of gold and Bitcoin quite a lot. The decisions of each party have a great influence. So to trade profitable, you need to analyze more carefully about the situation between the two countries and make a decision to buy or not. Besides, you should have a solid plan for 2 cases. Your trade in losses is because you have no plans and emotions have guided you.



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Raflesia
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January 09, 2020, 12:17:28 PM
 #15

But as soon as i sold, the price bounced and now it is at 8060.
So i am not sure my reaction was right.
What do you think?

Many people suggest not to add feeling or emotion in your decision making. I see this as panic reaction when you realize it was getting dip again and resulted you a loss.

Could not be wrong but just not totally right.

With that panic we didn't realize that bitcoin will grow again and need some more time, I always control what I experience now when buying bitcoin in such a situation, I will not be dependent on news that is aware there about my US and Iran conflicts will see the movement of bitcoin at any time to ensure an increase.
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January 09, 2020, 01:31:39 PM
 #16

Bitcoin is bullish because in the long term it's inflation will decrease and disappear. That itself makes it grow in value because the same number of bitcoins has to describe growing value of the world around us. World conflicts are just a temporary distraction throwing the priorities off balance in some parts of the world. I don't think Iran in particular has any noticeable effect on bitcoin. US maybe. China more likely, because that's where many miners are.
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January 09, 2020, 01:47:19 PM
Merited by Lionel (2)
 #17

you denied to sell on $8,300 but rush to sell below 8k$?it seems that Greed covers the whole system here?that is why you have waited for more highers value but ended up panicking when the value starts to fall down.

this is why i make sure that everytime i invest in bitcoin is i can afford to hold that certain amount if ever the price bounce again.like what the scenario yesterday when price goes up speed and down speed as well.

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January 09, 2020, 01:51:56 PM
 #18

I really didn't think the Iran situation had much influence on the price of Bitcoin. But, after seeing the price go up during all of that mess and then dumping almost immediately after President Trump released a statement, I must admit that I think I was wrong. I guess there's always paranoid people out there that think the worst is happening and will invest in things like this during tough times.

 
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January 09, 2020, 04:48:02 PM
 #19

With that panic we didn't realize that bitcoin will grow again and need some more time, I always control what I experience now when buying bitcoin in such a situation, I will not be dependent on news that is aware there about my US and Iran conflicts will see the movement of bitcoin at any time to ensure an increase.

Just as The Pharmacist said above that you can forget the news and hold them for long time (like 4 years as how the halving works) and sell them when it is in the highest level. It is the easiet way to make profit but still, rumour and news (like what happened to Iran and USA) are useful for those who do trade in short-term basis to make daily, weekly or monthly profits.
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January 09, 2020, 05:06:22 PM
 #20

No, it is not.  Nobody in their right mind would consider bitcoin a safe haven asset, and all you'd have to do to convince yourself that it isn't would be to look at the 10-year price chart.  Gold has been relatively stable in the past ten years, whereas bitcoin has been like a manic depressive mental patient off his medications.
And the attitude of new investors toward Bitcoin is like useless pills for a mental patient, there are so many kinds of drugs mixed together, they backfire each other accidentally, and finally, we get a bitcoin at present value, fly around and never settle down   Cheesy
In the end, bitcoin cannot be an asset enough to replace gold, but at least it gives us freedom in the currency if in a remote place, another country, for example.

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