Iran strikes Israel. Crypto crashing heavily...

[m2017]

You have a good point here, is a big coincidence that the attack and the price crash happened back to back. It would be nice to know what are the exchanges involved in this crash and from what countries are the sellers. If this big cash out was made to put that money on war i wouldn't be surprised at all.

Looks like the price is going up again, but there are $100B missing in the market cap, so, will be hard to see a full correction.

It is impossible to deny that any events in the world of this magnitude have an impact on markets, including cryptomarkets. But OP’s statements that the events taking place between Iran and Israel directly influenced the current fall of bitcoin look a little hasty and not entirely verified (by facts). You correctly noted that it would be necessary to find out what exactly influenced what was happening (bitcoin collapse). Or is this just a coincidence?

[Haunebu]

I don't think the Iran-Isreal war has anything to do with the crypto bear market at the moment since major corrections were expected for a while now thanks to the crazy bullrun in recent times.

Furthermore, this is how the market usually behaves before halving events. Also, this is most definitely not a big crash like you are making it out to be op.

[Z-tight]

The options in your poll are kind of funny, 'i don't care' is the only option that makes sense to me and that was what i voted for, since we know BTC will surely cross $100k. I don't know if these airstrikes is part of the reason why the market is down, but i am certain it is not the only reason.

I am not surprised that many people are connecting it to the crash in the market, it is one of the most talked about things in the last few hours, and when something like that happens and crypto moves either up or down, people immediately connect it. I really don't like discussing BTC and politics, especially when it involves airstrikes and war.

[Volimack]

As far as I understand the crypto market is based on investment demand and supply. Iran will not have anything to do with the war on Israel, the crypto. There is no reason for investors to panic as Bitcoin altcoins will have no impact on the price as investors will protect their assets on price increases. Analysts also said that this latest attack by Iran is a new test for Israel.

[KiaKia]

The Tax Day, the strike, and the upcoming halving event, I mean all these three are possible to have affected the price of Bitcoin, I don't know why people are surprised about this correction or dump or whatever you call it.

Normally even if there was no strike or the Tax day, I was expecting this correction because of the halving, as per the past halving period Bitcoin always dumps, and goes sideways for a while.

Many people were disappointed in the 2020 halving thinking that once the halving was over the price would start surging, it didn't happen as they expected, some people I knew sold everything and moved on, only to start regretting it a few months later.

Many may make the same mistake this type around also.

[Oshosondy]

I don't think that's the reason for the price crash and I don't think it's a crash if it was a crash it fluctuate to the bottom but it's not.

Why not? Iran is a big oil producer, a potential disruption of their oil operations could affect the global market, and as the result global economy because our world still runs on oil. And if global economy is not well, people wouldn't run to Bitcoin as a store of value, that's just the narrative of Bitcoiners that has been proven wrong many times, like during the start of covid-19.

What if the people that manipulated the price from over $70000 to $60700 also are the ones that manipulated the price this time. It may be because of the Iran attack on Isreal but what if is just the opinion of the manipulators? World war might cause such a thing but just the war between Isreal and Iran should not cause such a thing.

The Israeli government should be listed as a terrorist organization along with Russia, China and North Korean governments.

Why? You are wrong.

[shield132]

Look at your calendar. Tax day is Monday here in the US. A lot of people are selling because they have to cover their tax bills. There is a drop (granted not usually this big) in a lot of markets every year around now. With all the ETFs out there now it's also probably not helping. Bought in somewhere in the 40K range sell in the 60k range. Pay bills and move on.

-Dave

Price decline because of tax day makes more sense. Crypto prices were very high and it had to drop somewhere, ee I couldn't imagine the price crashing because of the Iran-Israel attack because the Israeli population is too low to get price affected by them exchanging bitcoins and cryptocurrencies overall are banned in Iran. None of them play any role in cryptocurrencies.

Many people were disappointed in the 2020 halving thinking that once the halving was over the price would start surging, it didn't happen as they expected, some people I knew sold everything and moved on, only to start regretting it a few months later.

Many may make the same mistake this type around also.

People think that within minutes of halving, the price should skyrocket but the price never doubles immediately after halving, it falls after halving and then during the fall it starts rising. That's how it has been happening since 2016.

[serjent05]

The current price drop is normal in the Bitcoin market since the Bitcoin market can rally and plummet without major reason due to its high volatility.  It might also be considered as a correction after Bitcoin regains its price @ $70k+.  According to one of the article[1], this kind of movement of the Bitcoin market is normal due to its highly volatile state and since the price decline does not exceed 20% it can also be considered a correction. 

The general definition of a market correction is a market decline that is more than 10%, but less than 20%. A bear market is usually defined as a decline of 20% or greater. The market is represented by the S&P 500 index.

This article[2] also suggests that Bitcoin may face a deep price correction despite the upcoming halving event.

If one wants to find a reason why Bitcoin price crash aside from market correction, the upcoming Tax day makes sense though I somehow doubt that it would be the actual reason for the current Bitcoin market price decline, between the Israel attack and the Tax day, the preparation for the tax day makes more sense.

[1] https://www.fool.com/investing/2024/04/12/crypto-flash-crash-what-caused-fridays-collapse/
[2] https://www.binance.com/en/square/post/2024-04-12-bitcoin-faces-risk-of-deeper-price-correction-warns-cryptoquant-analyst-6680509653857

[Odohu]

Like @BitMaxz rightly posited, I wouldn't call this a crash but normal retracement. There is no way it is right to call about 9% drop in Bitcoin price a crash. Assuming it retraces up to one of the Fibonacci numbers like 50% or 61.8% and lower, then it would have been appropriate to use the term crash.

As for the cause of the major retracement, since we cannot place it on any major news that might have a such negative impact, I think it is logical to assume that Iran sending missiles to Isreal is what triggered it. This is because it does not just make so much sense that Bitcoin halving, an event that is expected to be a positive news, is around the corner yet price of Bitcoin is dropping. Well, we cannot rule out market manipulations.

[pooya87]

I already started a topic on this matter in the speculation board.

Unlike some users I believe the recent drop (10% is not big enough to call it crash) is directly liked to this but is only due to weak hands panic selling and nothing more. Which is clear from the fact that the drop was small and also the fact that the price has already partially recovered.

Besides, this is not exactly a "war" either to be able to have larger scale impact. This is just a swift and deadly response the Zionist regime received for the terrorist attack on the Iranian embassy earlier this month.

World war might cause such a thing but just the war between Isreal and Iran should not cause such a thing.

Technically it would because such a "war" will not be between the Zionist regime and Iran, it will instead be between NATO and Iran. Just like last night it were 10 countries (including but not limited to NATO members US, UK and France) defending desperately against Iranian missiles and failing.

cryptocurrencies overall are banned in Iran.

They are not.

[pakhitheboss]

If I remember correctly we as a community encountered the same issue when COVID-19 hit every country and there was a lockdown. Bitcoin did slip into the red but later on, recovered so much that it created a new ATH. The same situation happened when Russia and Ukraine went to war, Bitcoin again went into red and then recovered. If Bitcoin is red due to the tension between Iran and Israel I am certain it will recover back. I somehow do not think that Bitcoin going into the negative zone is due to the tension between two countries in the Middle East. Somehow I think it is a correction before the Bitcoin halving event and we might see some new lows before the halving.

[The Sceptical Chymist]

I don't know, man.  We've seen tons of political acts over the years--in addition to all sorts of economic conditions and whatnot--and I'm not sure any single one of them has had a major effect on what bitcoin does. 

In the US at least, inflation data came out showing that it's increasing again, and the stock market took a hit, as did crypto, while gold & silver have had big gains.  So I really don't think the Iran/Israel conflict has as much to do with the crypto markets as OP thinks.  Plus I'd say it's about time bitcoin had a major dip.  It's price has soared since the end of 2022, when it was worth *only* about $17k.

[Iranus]

You have a good point here, is a big coincidence that the attack and the price crash happened back to back. It would be nice to know what are the exchanges involved in this crash and from what countries are the sellers. If this big cash out was made to put that money on war i wouldn't be surprised at all.

Looks like the price is going up again, but there are $100B missing in the market cap, so, will be hard to see a full correction.

It is impossible to deny that any events in the world of this magnitude have an impact on markets, including cryptomarkets. But OP’s statements that the events taking place between Iran and Israel directly influenced the current fall of bitcoin look a little hasty and not entirely verified (by facts). You correctly noted that it would be necessary to find out what exactly influenced what was happening (bitcoin collapse). Or is this just a coincidence?

The market corrected the day before the conflict broke out and with the news of the war, bitcoin and the entire market fell a little deeper. It can be said that this is just a coincidence, and whether the impact of the war will affect the market or not cannot be determined. And one more thing, there is a huge difference between this war and the Russian war. The Russian war broke out as we were entering bear season but now we are preparing to enter bull season so there will be differences and there will be different impacts. OP is being unnecessarily pessimistic.

[rodskee]

Like the majority of the voters? yeah I don't care also  to what is happening here in this war
because as far as I'm concern? war will happen from here and there but the bitcoin market will never crash
just like that because why do the end in this market will come when those 2 countries does not even share
big amount of bitcoin inside their country and their people?

[bitzizzix]

I don't know whether there is a connection or not, because when Bitcoin was first discovered it was actually created not to be affected by war or any institutions, and even though it existed. There appears to be no significant connection between Bitcoin and Israel's annexation of Iran or anyone else.
Maybe it's just a coincidence, and whatever positive and negative news there is when the price of Bitcoin falls or rises simultaneously will definitely be associated with existing news which is not necessarily true or may not have a big impact.

And I don't care about that or anything, because in the end the price of Bitcoin will rise again and this has happened often and in the end it doesn't affect the movement of Bitcoin.

[kryptqnick]

The prices experienced a dip, with Bitcoin being 4.4% down over 24 hours. It's significant enough to notice, but not significant enough to worry about. In fact, it seems like Bitcoin is already recovering from it. As for Iran and Israel, that was a major escalation, but sometimes escalations aren't followed by anything major. The end of Iran, end of Israel and end of cryptos all sound like very dramatic options to me, to be honest.
DaveF also has a good point that the price decrease might not even be due to Iran and Israel.
Whether it becomes a major war or not, I think Bitcoin will recover and can prosper regardless of it.

[Ale88]

So you're saying that it is a simple coincidence that Iran "attacks" Israel with some drones and pretty much at the same time the market drops? I don't think so. I remember that few years ago, when Russia officially attacked Ukraine, it happened exactly the same thing, all markets crashed immediately. We are already recovering so I don't see it as a big deal but for sure it wasn't a coincidence.

There is nothing to worry as long as price of Bitcoin is over 60k$. We saw similar type of volatility back in Jan 2020 when Irani General Qasem Soleimani was killed by U.S. forces in Iraq. Price went down to 62k and has recovered back to 64k after news broke out that Iran has attacked Israel. Halving is just approaching, don't pay much attention to such dips rather HODL you Bitcoin tightly for the big meal.

Mate, I'm not worried at all, I was just pointing out that yesterday's dump was clearly related to the Iranian counterattack at Israel following the attack of their embassy in Syria. Pretty much nothing else happened in the world, that was the only big event, I just don't understand why someone would say that it had nothing to do with the dump, why else did the market go down otherwise?

[Rabata]

They forewarned that Iran would attack Israel. When their drones and missiles hit, it quickly spread to people around the world. Since this news, there has been a major crash in the crypto market. Suddenly all the crypto markets including Bitcoin have a red candle stick loss. Iran retaliated for the attack on its country. But now there are various kinds of things going on with it and there will have large Political calculations. But if a war breaks out, the market will be down for a few days, but it will move up again. Even if there is a long-term war, the market will start to normalize.

[electronicash]

So you're saying that it is a simple coincidence that Iran "attacks" Israel with some drones and pretty much at the same time the market drops? I don't think so. I remember that few years ago, when Russia officially attacked Ukraine, it happened exactly the same thing, all markets crashed immediately. We are already recovering so I don't see it as a big deal but for sure it wasn't a coincidence.

There is nothing to worry as long as price of Bitcoin is over 60k$. We saw similar type of volatility back in Jan 2020 when Irani General Qasem Soleimani was killed by U.S. forces in Iraq. Price went down to 62k and has recovered back to 64k after news broke out that Iran has attacked Israel. Halving is just approaching, don't pay much attention to such dips rather HODL you Bitcoin tightly for the big meal.

Mate, I'm not worried at all, I was just pointing out that yesterday's dump was clearly related to the Iranian counterattack at Israel following the attack of their embassy in Syria. Pretty much nothing else happened in the world, that was the only big event, I just don't understand why someone would say that it had nothing to do with the dump, why else did the market go down otherwise?

i'm sure this Iran drone attack has something to do with the market crash. knowing that Israel can also shoot from thousands of miles away from them going to Iran, i'm sure the ones in the middle will all be ruins.

those countries are oil producers also which can affect the inflation in the global market. It's got to be making people sell. and besides they know, the BTC market is already showing signs of overbought, they need a crash to prepare for the halving market.

[Huppercase]

• Khamenei tweets about punishing Zionist regime: https://twitter.com/khamenei_ir/status/1779250053909028956
• Iran launches air attack on Israel
• Israel tweets about Sirens over Jerusalem: https://twitter.com/Israel/status/1779280619979030535
• Israel-Iran War Fears Suddenly Spark $500 Billion Bitcoin And Crypto Price Crash

What is next?

Nothing next. If at all Isreal and Iran strike is what made crypto to crash, I bet you that Bitcoin wouldn't have sit down in the $64k recovery because it was quick and people are still interested in buying and beside, this is not the first time mini war has been happening between these countries, Ukraine, Hama&palestine and Russia and Israel has been on war since 2023 and Bitcoin least care about what they have been doing. I just think that it was think correction was due and selling of the news since halving is just 5days away and this news just escalated the drop of the coins.

If this fight is affecting the market, I'm not sure Bitcoin will be around where it's right now, but we can comfirm this after the halving because we will see that Bitcoin will drop futher and settle around the $53k region because there is going to be a divergent in the weekly zone of Bitcoin chart which will indicate more sell pressure before we start the real bull run and you will see that all this news will even pump Bitcoin more because Bitcoin is what people need during war and not stock that is political controlled.