Attack on Iran - effects on markets/Bitcoin

[philipma1957]

I'm not seeing a significant effect on the Bitcoin market that could clearly be attributed to the attack on Iran.

In fact, the price of bitcoin has risen after the US-Iran conflict. Could it be that some people are turning to bitcoin as an alternative?

Of course, a spike on oil prices is expected. That's probably the specific market where the impact of the attack is truly felt considering that massive supply distributions passing through the strait of Hormuz would certainly be halted because of the conflict.

I don't know if oil prices are starting to rise now? I know that the Strait of Hormuz is a route for intercontinental trade, with at least 20% of trade passing through it, according to the news. Other reports say that the Strait of Hormuz is being heavily guarded by Iranian forces.

Some are saying the Abraham Lincoln air craft carrier was hit by four missles.

If true we could see a crash on monday morning.

This has caused confusion. There are reports on X that the aircraft carrier Abraham Lincoln was attacked by missiles from Iran, while major media outlets are saying the Abraham Lincoln is fine. I don't know which is true.

I spent five years in the Navy I checked quite a few sources that most people do not know about and I have no proof and no disproof which is very interesting in and of itself.

[el kaka22]

Well as we have seen so far, it did not really impacted a whole lot. Because of the ban on Iran from almost everything by the west, the price of bitcoin was a little higher there than everywhere else, I am guessing soon that will be done.

But remember that the regime has not changed yet, their leader is dead but I am sure there must be some other de facto leader right now. They are not suddenly some secular nation like they used to be, that will take some time and pain until it happens, then maybe we can see them joining crypto world like us without any bans. The war itself has started, one leader is dead, many missiles, world is worried and yet crypto has not moved much, so clearly crypto world doesn't care at all.

[letteredhub]

Bitcoin price has decreased by 1% in the last 24 hours and less than 5% in the last week, so I don't see any impact of the war on the price of Bitcoin. Things may change as events change, but 1% is not a decrease that could be due to an event.

Even if it does have a significant impact on bitcoin price it's gonna be the usual short time shocking impact on the market and we start seeing price rising shortly after but the coincidence with this geopolitical situation with Iran and US is happening at a time when bitcoin is bearish, which may appear as though the war is really that having a major effect on bitcoin price in the long.

[Princess Leah]

Bitcoin price has decreased by 1% in the last 24 hours and less than 5% in the last week, so I don't see any impact of the war on the price of Bitcoin. Things may change as events change, but 1% is not a decrease that could be due to an event.

Even if it does have a significant impact on bitcoin price it's gonna be the usual short time shocking impact on the market and we start seeing price rising shortly after but the coincidence with this geopolitical situation with Iran and US is happening at a time when bitcoin is bearish, which may appear as though the war is really that having a major effect on bitcoin price in the long.

Indeed Bitcoin would do what it always do, it reached 71000 today which means that tension in the middle east won't have a strong impact on the market when the bulls start running.

 I'm really surprised that even with how the tension has escalated from threats to wars, people are still holding strong. I excepted that it would drop lower after the gulf of hormuz got closed by Iran but instead we're seeing more gains than loses this period.

[YOSHIE]

So this morning USA attacked Iran, a move that is probably not much of a surprise to anyone, as this was brewing for quite some time now.

For me, I'm not too worried about the As-israel vs. Iran is against crypto market speculation, the fact is that today if you look at the war continuing to rage they are responding to each other's missiles, but Bitcoin on the market today rose 6.81% in 24 hours.

That is, overall it has no impact on the crypto market, the war in the Middle East has been going on for a long time, Iraq, Afghanistan, Sudan, Lebanon and others, the crypto market but on true speculation, but the As-israel vs. Iran will have an impact on the stock market, not on the crypto market that's my speculation.

[Porfirii]

I don't know whether the price of Bitcoin has increased because of the news about the attack or it is just a coincidence, but in my country what has increased dramatically in just a couple of days is the price of the gasoline, and everybody is saying that the worst is yet to come.

I hope I don't have to end up selling my sats to refuel my car any of these days...

[Lucius]

I don't know whether the price of Bitcoin has increased because of the news about the attack or it is just a coincidence, but in my country what has increased dramatically in just a couple of days is the price of the gasoline, and everybody is saying that the worst is yet to come.

The price of BTC is supposedly going up because of spot ETFs have been buying the coins in large quantities for the last 4-5 days. On the other hand, the price of fuel is going up only because those who sell it have a justification to raise prices - so while those in Asia may have a reason to, given that the oil that passes through the Strait of Hormuz mostly goes to Asia, those in Europe had no reason to, and they raised fuel prices quite a bit in my area yesterday.

Most countries have at least 90 days of oil reserves anyway.

I hope I don't have to end up selling my sats to refuel my car any of these days...

Why would that be a problem? Bitcoin is a cryptocurrency and you should use it as such from time to time.

[Rikafip]

Why would that be a problem? Bitcoin is a cryptocurrency and you should use it as such from time to time.

I don't know about his reasons, but I definitely wouldn't like to start spending bitcoin on the daily expenses these days due simple reason of bitcoin being far from ATH.

I do spend bitcoin regardless of the price though, but only for smaller expenses like VPN, IPTV, little bit of betting etc. For bigger expenses, I still try to time it.  

[OgNasty]

I'm not seeing a significant effect on the Bitcoin market that could clearly be attributed to the attack on Iran.

In fact, the price of bitcoin has risen after the US-Iran conflict. Could it be that some people are turning to bitcoin as an alternative?

Of course, a spike on oil prices is expected. That's probably the specific market where the impact of the attack is truly felt considering that massive supply distributions passing through the strait of Hormuz would certainly be halted because of the conflict.

I don't know if oil prices are starting to rise now? I know that the Strait of Hormuz is a route for intercontinental trade, with at least 20% of trade passing through it, according to the news. Other reports say that the Strait of Hormuz is being heavily guarded by Iranian forces.

Some are saying the Abraham Lincoln air craft carrier was hit by four missles.

If true we could see a crash on monday morning.

This has caused confusion. There are reports on X that the aircraft carrier Abraham Lincoln was attacked by missiles from Iran, while major media outlets are saying the Abraham Lincoln is fine. I don't know which is true.

I spent five years in the Navy I checked quite a few sources that most people do not know about and I have no proof and no disproof which is very interesting in and of itself.

Well, the video they released showed a spacecraft flying into a ship that was sunk 80 years ago, so there's that...

The Abraham Lincoln has a whole lot of American soldiers on it.  If it was struck with missiles, every news outlet in the world would be showing those images and blaming Trump for the loss.

I would also say it is possible that both the news and the non-event are true.  An aircraft carrier can both be attacked by missiles and be fine.

[virasog]

Bitcoin price has decreased by 1% in the last 24 hours and less than 5% in the last week, so I don't see any impact of the war on the price of Bitcoin. Things may change as events change, but 1% is not a decrease that could be due to an event.

Even if it does have a significant impact on bitcoin price it's gonna be the usual short time shocking impact on the market and we start seeing price rising shortly after but the coincidence with this geopolitical situation with Iran and US is happening at a time when bitcoin is bearish, which may appear as though the war is really that having a major effect on bitcoin price in the long.

While most of the people thought that bitcoin price will behave bearish during the start of the war but this is not the case this time. In fact ever since the Iran - Israel war has started, the bitcoin is usually on the higher side, pumping most of the time and as of this writing we have reached 73K.

This price action has been taken by surprise by most of the bitcoin traders and most of them weren't expected this kind of movement. Anyways I think that people have realized that in uncertain situation, it is bitcoin BTC that can hold its value and also it is even better than gold because you can hold it digitally.

[philipma1957]

Well it does seem that a ship has been sunk.


"https://www.yahoo.com/news/world/live/iran-live-updates-us-submarine-sinks-iranian-warship-in-international-waters-hegseth-says-142632357.html


Iran live updates: U.S. submarine sinks Iranian warship in international waters, Hegseth says
More than 1,000 people have been killed in Iran; six American service members have died in retaliatory strikes.
The United States sank an Iranian warship in international waters with a torpedo fired from an American submarine, Defense Secretary Pete Hegseth said Wednesday, as the widening military conflict continues to intensify.

“We are just accelerating, not decelerating,” Hegseth said at the Pentagon.

"


Now if true I feel for those sailors for the sea can be a harsh mistress.

Hopefully more details will arise and that the USA is not simply killing the survivors of the Iranian warship.

Having been at sea for years I can tell you it is big and we are small so I do hope the survivors are being treated by the rules of war and not as targets in life boats.

[Lucius]

Why would that be a problem? Bitcoin is a cryptocurrency and you should use it as such from time to time.

I don't know about his reasons, but I definitely wouldn't like to start spending bitcoin on the daily expenses these days due simple reason of bitcoin being far from ATH.

I do spend bitcoin regardless of the price though, but only for smaller expenses like VPN, IPTV, little bit of betting etc. For bigger expenses, I still try to time it.  

It all depends on whether you can afford not to touch BTC at a time when the prices of everything are going up, and your salary simply can't cover it. You have the choice to give something up, find an extra job or sell some of the coins when you need them. If you need money for gas, I would call it a minor expense - although there is always a choice, walking, cycling and public transport, so you can save coins in your wallet.

[Cryptic Vortex]

This war could have a huge effect on Bitcoin and that too in a good way. I think a mineral rich country like Iran when gets destroyed people will invest In Bitcoin because of the uncertainty that arises because of minerals not performing well. The supply of oil will also be cut off because of the blockage of the strait of hurmuz and because of that people will invest in Bitcoin.

Another way it could have an affect on Bitcoin is that Iranian people invest their money from Fiat to BTC because their currency value going down because of the War. I think it will have good effect for Bitcoin

[letteredhub]

Bitcoin price has decreased by 1% in the last 24 hours and less than 5% in the last week, so I don't see any impact of the war on the price of Bitcoin. Things may change as events change, but 1% is not a decrease that could be due to an event.

Even if it does have a significant impact on bitcoin price it's gonna be the usual short time shocking impact on the market and we start seeing price rising shortly after but the coincidence with this geopolitical situation with Iran and US is happening at a time when bitcoin is bearish, which may appear as though the war is really that having a major effect on bitcoin price in the long.

While most of the people thought that bitcoin price will behave bearish during the start of the war but this is not the case this time. In fact ever since the Iran - Israel war has started, the bitcoin is usually on the higher side, pumping most of the time and as of this writing we have reached 73K.

This price action has been taken by surprise by most of the bitcoin traders and most of them weren't expected this kind of movement. Anyways I think that people have realized that in uncertain situation, it is bitcoin BTC that can hold its value and also it is even better than gold because you can hold it digitally.

Yeah, that has being the behaviour of bitcoin market in it's history in responding to geopolitical conflicts especially since Donald Trump became the POTUS. But it seems people have started being accustomed to the  constant conflicts and which has probably in turn affected the price reaction of bitcoin within the period of this war. With the years that goes on that's how more and more continues to realise the necessity of not panic selling even in a  war time.

[justdimin]

Having been at sea for years I can tell you it is big and we are small so I do hope the survivors are being treated by the rules of war and not as targets in life boats.

I have never been in the navy or in military, so I have no idea how it works. But if you blow up a ship, enough to sunk it, do people even survive? I mean it usually means almost everyone is dead on the spot from the explosion, and whoever is left, probably won't survive until a land appears, they will die in the sea.

That is of course my newbie opinion and maybe that's not the case, maybe it sunk because they made a big hole and it took water and everyone had to jump out of ship with life boats and what not, but I feel like that is a "good" case for them. In any case, we are seeing USA throwing missiles that kills children, so I highly doubt that they would care about sailors and navy, they would just destroy anyone on their path.

[Franctoshi]

So this morning USA attacked Iran, a move that is probably not much of a surprise to anyone, as this was brewing for quite some time now.

Some say (and I agree with that) that the timing of Saturday morning is not coincidental, and it was meant to prevent a panic in the traditional markets. Trump was quite vocal about his care for the stock prices in the past. Markets are closed on the weekend, so we'll have two days for emotions to cool off and that's extra time for accepting the new reality.

Crypto markets have no limits on trading hours and we could see the impact right away. The BTC price went down sharply by almost 5%, but bounced back since then. Probably many saw this as a good buying opportunity.

What do you expect to see happening to the stock market on Mon, and do you expect any possible long-term effects, especially if the military operation doesn't go as smooth as expected and Iran proves to be a tough challenge?

This is the second time I'm witnessing Bitcoin do this same thing during the time of war. The very first time  Russia invaded Ukraine, Bitcoin lost some gains and later rallied up after there were so many donations via Bitcoin. The impact of war on Bitcoin seems like people running into Bitcoin for safety in the time of war, seeing that Bitcoin has been trading down, and on the event of the war, as the US and Israel struck, the price saw an increase , meaning people were running into Bitcoin for safety. And in this case, Bitcoin is far  more valuable than gold in times of war and a safer place because you don't move around with your gold.

[Minor Miner]

This is the second time I'm witnessing Bitcoin do this same thing during the time of war. The very first time  Russia invaded Ukraine, Bitcoin lost some gains and later rallied up after there were so many donations via Bitcoin. The impact of war on Bitcoin seems like people running into Bitcoin for safety in the time of war, seeing that Bitcoin has been trading down, and on the event of the war, as the US and Israel struck, the price saw an increase , meaning people were running into Bitcoin for safety. And in this case, Bitcoin is far  more valuable than gold in times of war and a safer place because you don't move around with your gold.

Yes, as far as I remember, Bitcoin dropped when the war between Russia and Ukraine broke out, but then recovered strongly. However, the remainder of 2022 was a bear market for bitcoin, and it bottomed out at $15k in November

Similarly, regarding the conflict between Israel and Iran. Although Bitcoin is rising in price, the battle is still in its early stages, so I think it is too early to say that people consider it a safe haven.

After Bitcoin surged to $74k, it is now starting to decline and trading around $68k. Let's wait and see what the next trend is before concluding that people have truly come to regard it as a safe haven and are investing in it. Or is this just a temporary recovery and a coincidence?