Iran missile report sends bitcoin back to $79,000

[Oshosondy]

Could this be true or just news?

Bitcoin briefly topped $80,000 for the first time since January before sliding to about $79,000 after reports of a suspected Iranian missile strike on a U.S. patrol boat near Jask Island.

Also United States has later denied this, that it is not true. But market can react to such news. I think what happened could be a coincidence for bitcoin to first retrace a little.

What do you think?

Most importantly, know that news can not stop bitcoin towards the direction it is going. News can only affect in short period of time like minutes, hours or less than a day or 2 before the market direction will continue.

[Wiwo]

News headlines have a way of impacting the market in a sharp way, and before it got settled like in this case it could take some times since trader's have already take action, $80,000 was a benchmark that many was waiting for to take profits, news like this is what pushes them to take that actions considering 80k to have been a long time resistance.

Is good that united state denied the report, but market on the other hand have no verify tool to know which new is fake or real, and have rather reacted to the headlines, and such war headlines with huge economic concern like Iran is a big market maker for bitcoin and other stock assets.

[goldkingcoiner]

Could this be true or just news?

Bitcoin briefly topped $80,000 for the first time since January before sliding to about $79,000 after reports of a suspected Iranian missile strike on a U.S. patrol boat near Jask Island.

Also United States has later denied this, that it is not true. But market can react to such news. I think what happened could be a coincidence for bitcoin to first retrace a little.

What do you think?

Most importantly, know that news can not stop bitcoin towards the direction it is going. News can only affect in short period of time like minutes, hours or less than a day or 2 before the market direction will continue.

I do not see how this would send Bitcoin up instead of down? At best it had no effect on Bitcoin whatsoever and you are making correlations where there exist none. If this becomes the reason why the US starts bombing Iranian oil and gas infrastructures again and Iran refuses to provide passage from and to the Hormuz then obviously this will be a factor in the market.

[GreatArkansas]

I'm curious, why does this kind of news, whether it's true or not, affect the price of Bitcoin? Especially when we are talking about a few thousand price differences.

[Karl_3000]

I do not see how this would send Bitcoin up instead of down?

It sent bitcoin down is what the news is about. Do not let the topic confuse you as if bitcoin price went up to $79000. But it is not like that. The new is talking about bitcoin has gotten to $80000 but fall back to $79000.

On the chart here, it went above $80500 but fall to almost $78200 which is what is being talked about.

[GeorgeJohn]

Also United States has later denied this, that it is not true. But market can react to such news. I think what happened could be a coincidence for bitcoin to first retrace a little.

You have said it all, that market can react to such news...if theirs something of such that happens, you know that is not going to be friendly with bitcoin price, and it will not keep bitcoin price to skyrocket, rather it will make the price to depreciate, even though the news is not authentic it will have negative impact in crypto market...because what affects the price of cryptocurrency is negative news...

[Bitcoin_Arena]

I'm curious, why does this kind of news, whether it's true or not, affect the price of Bitcoin? Especially when we are talking about a few thousand price differences.

I am one person who rarely believes that most of the news affects Bitcoin price movements, especially in recent years. I think it's just a coincidence. There will always be news regarding, for example, the war, and there will always be price movements on the upside and downside. So people tend to get a certain piece of news and attach it to the recent price movement.

[PX-Z]

I'm curious, why does this kind of news, whether it's true or not, affect the price of Bitcoin? Especially when we are talking about a few thousand price differences.

I am one person who rarely believes that most of the news affects Bitcoin price movements, especially in recent years. I think it's just a coincidence.

If it's directly related to the economy news, then sure, Bitcoin's price can be affected sooner or later. But a missile launch or another political tension? That's already too far from being directly or indirectly connected. Sometimes it feels like people, or news writers, just want to sound analytical and force every global event into a "Bitcoin price impact" narrative.

At the end of the day, Bitcoin's value still moves mainly because of people buying and selling in the market. That's what really drives the price, not every unrelated headline happening around the world.

[SamReomo]

Bitcoin is back to $80k and hopefully it'll go upward from it's current price. Things seem okay to me and I believe the conditions like Iran missile attack won't impact Bitcoin value that much. Bitcoin has been doing well since last few weeks and I'm pretty sure to see some upward movements of it in coming weeks. Let's say if Bitcoin crosses $85k then it won't be hard for it to cross $90k in month of May and if that happens then we might see another good bullish market again.

[rat03gopoh]

I'm more convinced that some holders are taking profits after Bitcoin surpassed the psychological $82k mark, while other speculation is also warning of a bull trap.

We've been in the $70k-$80k accumulation phase for a long time. It's possible the market is preparing for another bull run, but I don't think it's that soon, with all the attention still focused on the key to global energy stability in the Middle East.

[STT]

1k movement is noise, thats about the power of wind to push the trajectory of BTC either way and it could happen any day.  The variance or voltility in Bitcoin is greater then that, 1k would lack significance to demand any link to particular news.
  Energy is an important market and linked to Bitcoin in some way, also to the dollar index strength.  However overall Im only seeing that Dollar index has some negative trend to it and has done this week and month overall, wider views its also proved negative.   Weaker dollar helps Bitcoin and many alternate assets in accumulating usage to a weakening currency standard, that effect is ongoing and more important then even a war.
  
  The main thing to consider with the Iran war is the repetitive nature of the news.   The back and forth between the two sides is not new at this point.   Even an absolute declaration or achievement of peace would still leave the wreckage of losses to date, the effects continue regardless of the news.  The shock value to either violence or cessation of conflict has been dampened by the repetition.  

[Popkon6]

The first part of the news or headlines have a strong impact on the market, where people either sell or buy in panic after hearing the headlines. So some people may have sold Bitcoin after hearing the news of the war situation, and there was a slight dumping. The $80k level was broken, but it was temporary so there was no permanent change and Bitcoin is back on its previous momentum. Now the price of Bitcoin is trading at $80k plus.

[Just Say]

It is true that news headlines can shake the BTC market, but you should note that the market did not react to the news of a war between Iran vs United States a few months ago, meaning that it did not stop Bitcoin in its tracks. Similarly, the recent news of an Iranian missile attack on a US patrol boat near Jask Island in Iran has not had much of a negative impact on Bitcoin prices and from what I have seen, Bitcoin has fallen slightly after breaking the $80,000 resistance level in May this year, but has quickly risen back above that level and today, May 9th, on the current chart, we can see that the price of BTC is still trading above $80,000.

[Nathrixxx]

Could this be true or just news?

Bitcoin briefly topped $80,000 for the first time since January before sliding to about $79,000 after reports of a suspected Iranian missile strike on a U.S. patrol boat near Jask Island.

Also United States has later denied this, that it is not true. But market can react to such news. I think what happened could be a coincidence for bitcoin to first retrace a little.

What do you think?

Most importantly, know that news can not stop bitcoin towards the direction it is going. News can only affect in short period of time like minutes, hours or less than a day or 2 before the market direction will continue.

Almost everything about this news seems to be untrue to me, it has a good uncountless occasion that bitcoin market price with tend to reach a particular random figure and bounce back for any reason, so if the want to achieve the $80,000 market price of Bitcoin and couldn't, and should not be related to the Iran war, now that's nothing has changed about the ongoing war ever since and we still have the market at $82,000

[EluguHcman]

Most importantly, know that news can not stop bitcoin towards the direction it is going. News can only affect in short period of time like minutes, hours or less than a day or 2 before the market direction will continue.

I will always take this speculation about how news have the influence as a means to keep the market performance active.
Although in some cases, enthusiasts can be psychologically manipulated by macroeconomic and political news by which enthusiasts reacts to the market according to the effects of the news.

Of course economy stability will encourage more of Bitcoin investors because there will be probability to diversify when the income is also on steady flow and vice versa.
While political news can pull investors sentiments.

But in the actual sense, I can not imagine how these events decide on Bitcoin price. I think the Speculations and what the market presents is just coincidence based on timeframe m

[adultcrypto]

I don't think there is any serious correlation between bitcoin price and the ongoing war as we have seen in the past however, the market makers can capitalize on such news to drive the price as they want. But I believe the price is just following its natural part as we can see that the drop in price did not last before it quickly recovered. Now the price is over $80k and the momentum is still high to push price even higher with the next target around $83k if the current recent high is violated.

[Ndabagi01]

That’s not true and like you also said, news only have short time effect on the market and does not really have a lot of influence in the market that it pushes it towards a direction that’s not where it is suppose to be trending. The market is in a very good state now and until now we don’t get to see the market going into another direction that’s it’s not suppose to be trending on. Everything is just a matter of time before we see the bearish trend back again. For now, the market is on a bullish state but analysis has it that it’ll only be for the short time before we see the market back into the bear run which many believe it’s yet be over.

[$crypto$]

I'm curious, why does this kind of news, whether it's true or not, affect the price of Bitcoin? Especially when we are talking about a few thousand price differences.

I am one person who rarely believes that most of the news affects Bitcoin price movements, especially in recent years. I think it's just a coincidence. There will always be news regarding, for example, the war, and there will always be price movements on the upside and downside. So people tend to get a certain piece of news and attach it to the recent price movement.

Yes because maybe they think this is a correlation between the role and the price of bitcoin but sometimes this has been exaggerated, even when the price drops a few percent many people attribute it to the actions of the US and Iran wars.
Sentiments like this sometimes affect prices, sometimes bitcoin can go against the flow, so for me this is not too concerned because price movements will not follow the rules of war in the middle east.

[Wind_FURY]

There was a White House briefing today, and it said that the United States' peace talks with Iran are merely 1% of coming to a resolution. The reason is that Iran will NEVER surrender their enriched Uranium stockpile to the United States.

Iran has verbally agreed to surrender their enriched Uranium, but they didn't put it writing which made the United States reject Iran's written peace proposal.

[letteredhub]

Let assume this is true about the missile airstrike on a US boat which has in turn sent a shocking wave of fear across investors to quickly take profit at $79k upon the notice of the news, because the worst case scenario would be a US retaliation which could be much catastrophic than what is now and could push the market price more below.

On a second assumption we can say it's a market correction which had to coincide with this striking news of FUD. Regardless of which one, we all know that bitcoin price can't go straight up for some time without having to bounce back before retaking flight again.