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Author Topic: How is the situation with Iran affecting the price  (Read 228 times)
its-a-me-mario
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January 09, 2020, 08:01:40 PM
 #21

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?


You know you're on the "Trading Discussion" board right? A successful trading strategy can repeatedly beat a long-term buy and hold strategy, even a DCA strategy can beat buy and hold. Buy and hold may be the easiest, but it's not the most profitable.
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January 09, 2020, 08:26:19 PM
Last edit: January 10, 2020, 10:42:24 PM by Bagaji
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 #22

You must have learn your lesson of not too greedy of holding up to your position for a long time. Supposed you sell when Bitcoin was trading around $8450 you would have end up in profit than you selling at lost. You can't maintain patience while the market is going against you but you can hold while the market is in your favor. You need to have a realistic target before you place trade.

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January 09, 2020, 11:17:25 PM
 #23

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?
Iran issue was the reason why Bitcoin pump just told by the others, not only Bitcoin was pumped but also the Gold and Oil prices.
The pump was almost $1,000 with the span of just around 24hours..
But for me, the current Iran issue nothing to do with Bitcoin especially if we based more on technical side:

About your decision selling it to around 7900, always remember, profits is profits. You can seek another trade opportunity nextime, don't be mad.

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January 09, 2020, 11:22:07 PM
 #24

You must have learn your lesson of not too greedy of holding up to your position for a long time. Supposed you sell when Bitcoin was trading around $8450 you end up in profit than you selling at lost. You can't maintain patience while the market is going against but you can hold while the market is in your favor. You need to have a realistic target before you place trade.

I believe he was thinking that it will go up more than that. But who knows, in the long run, it will be more than $8450 in the next coming weeks or months? He panicked and sold it lower than what he had bought it. That's a learning experience there. So if you see that you are already in profit and you don't want to wait any longer, better sell it, even if the profit is not what you wanted. At least you are on the positive side.

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January 10, 2020, 12:58:54 PM
 #25

First of all your reaction to buy bitcoin depending on a war between Iran and USA was wrong to begin with, the very first thing you should do shouldn't have been buying.

However, after you already bought, you shouldn't have sold that quickly neither, that was a wrong movement as well, you ended up with a net negative that is a closed position and that is always a wrong move, even if you had to wait days or weeks or even months to make that money back.

On top of that bitcoin price didn't went down because Iran can't compete with USA, we all knew that already and price went up anyway, the price went down because USA is not going to war with Iran, they decided not to and that might have affected the price, at least a bit. Next time, don't make so emotional decisions depending on nations.

 
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January 10, 2020, 03:32:14 PM
 #26

First of all your reaction to buy bitcoin depending on a war between Iran and USA was wrong to begin with, the very first thing you should do shouldn't have been buying.

-snip-

On top of that bitcoin price didn't went down because Iran can't compete with USA, we all knew that already and price went up anyway, the price went down because USA is not going to war with Iran, they decided not to and that might have affected the price, at least a bit. Next time, don't make so emotional decisions depending on nations.

Can you explain the bold ones?

What I can understand is that you say speculate based on USA and Iran was a wrong thing, like it could do nothing with the price and that's why he should not have bought Bitcoin.

But then, you say that price went down because USA isn't going to war. This one contradicts your first sentence.

Or, basically the issue between USA and Iran, or any nations can only give negative impacts to the Bitcoin price? Uhh..

 
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January 10, 2020, 06:38:35 PM
 #27

I think that the situation in the Middle East and especially in Iran is going to push the oil prices higher.
Even if, we are not going to see any further instability in the region they is a lot of doubt on how Iran is going to handle situations that take place in their region.

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January 10, 2020, 10:49:26 PM
 #28

You must have learn your lesson of not too greedy of holding up to your position for a long time. Supposed you sell when Bitcoin was trading around $8450 you end up in profit than you selling at lost. You can't maintain patience while the market is going against but you can hold while the market is in your favor. You need to have a realistic target before you place trade.

I believe he was thinking that it will go up more than that. But who knows, in the long run, it will be more than $8450 in the next coming weeks or months? He panicked and sold it lower than what he had bought it. That's a learning experience there. So if you see that you are already in profit and you don't want to wait any longer, better sell it, even if the profit is not what you wanted. At least you are on the positive side.
Some of us have had such experience before now and have shared those experience here in this forum do really need to learn from others people failior do that they will not be victim again but they will not.
Holding your investment forever will not earn you anything but when you buy low, sell high you will end up adding to your investment capital and not to keep holding forever.

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January 10, 2020, 11:56:24 PM
 #29

I think that the situation in the Middle East and especially in Iran is going to push the oil prices higher.
Even if, we are not going to see any further instability in the region they is a lot of doubt on how Iran is going to handle situations that take place in their region.

yes the prices oil rose after the crisis of middle east iran between and usa ; i dont know if bitcoin follow oil and it will continue the current rise to level 9000 usd . it seem bull run bitcoin activate again even without effect  of crisis or changement of prices oil and gold and other stock in the near future
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January 11, 2020, 01:54:46 AM
 #30

This Iran-US incident is over already, both sides don't want further escalation, but the price is still growing and defending the recent gains - this only means that the correlation with political instability isn't really that strong, it was more of a catalyst rather than the driving force behind the pump. Trading Bitcoin based on global news is as bad as trading with 8-ball, or maybe it's even worse.

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January 11, 2020, 02:07:44 AM
 #31

This Iran-US incident is over already, both sides don't want further escalation, but the price is still growing and defending the recent gains - this only means that the correlation with political instability isn't really that strong, it was more of a catalyst rather than the driving force behind the pump. Trading Bitcoin based on global news is as bad as trading with 8-ball, or maybe it's even worse.

They have certain agreement to stop the conflict among them that's why it's better for us not to get worried on anything but there's a new tension coming with Canada due to that incident of plane crash where 176 people has been reported dead but I believe there's nothing to get worried from this anymore since it will never affect on the price of the bitcoins and I can't blame people to base on bad events like war since actually it can create a demand because people are afraid for their economy for that nightmare.

 
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January 11, 2020, 03:55:49 AM
 #32

From here we can see cryptocurrency or Bitcoin has good potential in the world, although there are countries that do not accept the presence of bitcoin.
The proof, in the current turmoil between Iran and America, Bitcoin is positive towards current prices.

I think and contemplate, that bitcoin is very influential on the world economy and is the biggest investment for developing countries, which have the largest oil revenues.

This is a bitcoin marked one asset that is safe for humanity in the world.

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January 11, 2020, 05:07:24 AM
 #33

in my opinion you have made the wrong decision. why are you in a hurry to sell your bitcoin. Before you should invest in bitcoin you should research that bitcoin has high fluctuations that can go up and down suddenly. and maybe the rise and fall of the price of bitcoin yesterday was affected by the conflict of Iran and America. You should still hold your bitcoin because I'm sure bitcoin can go up again. to succeed in investing in bitcoin we must have patience and not be easily panicked.

 
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January 11, 2020, 06:14:56 AM
 #34

This Iran-US incident is over already, both sides don't want further escalation, but the price is still growing and defending the recent gains - this only means that the correlation with political instability isn't really that strong, it was more of a catalyst rather than the driving force behind the pump. Trading Bitcoin based on global news is as bad as trading with 8-ball, or maybe it's even worse.
Despite the fact that the tension in relations between the US and Iran has subsided, the price of bitcoin first returned to its usual level, which was before this conflict, and now it continues to grow again. Today, the price of bitcoin, according to CoinMarketCap, is $ 8,129 and is growing for the second day. Perhaps, indeed, this conflict served as a catalyst for the growth of the cryptocurrency market? It would be nice.

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January 11, 2020, 06:54:11 AM
 #35

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?

I think you are a panic person. in investing in bitcoin and cryptocurrency we must be calm and not easily panic. bitcoin price fluctuations are common. You have to analyze and wait for some time, don't be easy to buy and sell bitcoin. take a look at the bitcoin movement.
and in my opinion to make a profit in investing bitcoin at least we have to wait and hold bitcoin for some time for about 6 months. at least wait until bitcoin has increased by 10%.

 
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January 11, 2020, 11:33:16 AM
 #36

I think even though there is no Iran conflict and America the price of bitcoin will still go up. because it's been a few months at the level of $ 7k and I think now is the time for bitcoin to start increasing. and also bitcoin will be reduced by half in May before half the price of bitcoin will tend to go up. so I think yesterday's rise in bitcoin was more influenced by the market than the iran-american conflict.

 
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January 11, 2020, 11:53:58 AM
 #37

This Iran-US incident is over already, both sides don't want further escalation, but the price is still growing and defending the recent gains - this only means that the correlation with political instability isn't really that strong, it was more of a catalyst rather than the driving force behind the pump. Trading Bitcoin based on global news is as bad as trading with 8-ball, or maybe it's even worse.

They have certain agreement to stop the conflict among them that's why it's better for us not to get worried on anything but there's a new tension coming with Canada due to that incident of plane crash where 176 people has been reported dead but I believe there's nothing to get worried from this anymore since it will never affect on the price of the bitcoins and I can't blame people to base on bad events like war since actually it can create a demand because people are afraid for their economy for that nightmare.

Bad events is not that litteral to reality, sometimes we have to consider positive outcome instead of expecting negative results. To those who have advance panic even though there's no confirmation coming from US and Iran. For me there's a possibility of btc price to pump, because there might be asset diversions like converting fiat to crypto when they fear about war.

 
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January 11, 2020, 02:32:25 PM
 #38

I doubt it has affected yet, there needs to be war as in actual war, like planes go over Iran's biggest important places, killing people, dropping bombs, destroying governments, then actual military personal deployed there with either planes or at least planes to nearby nations like Iraq and then go there with tanks and such etc etc so that we can actually have something changing and affecting the price.

I understand that "potential" of a war might had some affects, doubt it was much at all (I mean I am sure it was much in Iran but not everywhere else) however potential of a war is one thing, actual war is another. If you think these are changes due to a potential war in Iran, do you really think there won't be something HUGE coming if an actual war starts?

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January 15, 2020, 10:03:03 PM
 #39

This Iran-US incident is over already, both sides don't want further escalation, but the price is still growing and defending the recent gains - this only means that the correlation with political instability isn't really that strong, it was more of a catalyst rather than the driving force behind the pump. Trading Bitcoin based on global news is as bad as trading with 8-ball, or maybe it's even worse.
Bitcoin and crypto currency in general are traded globally and if it react to the global news I don't it is a bad thing in my opinion and I believe Bitcoin has made history by reacting to the the global news just like Oil, gold and other stock.

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vintages
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January 15, 2020, 11:27:57 PM
 #40

So what about the sudden price increase lately, what could have contributed to it? Could this be because of Rouhani recent threat to US and UK? I believe things are tensioning out lately yet price is increasing.
I personally still don't think the previous price increase was as a result of the imposed war. It could be normal market activities or some investors are using this means to signal more buy.
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