A few days back, there was buzz that oil prices would dip. Then, out of the blue, the Strait of Hormuz got reopened, oil prices fell, and guess what? Bitcoin shot up to $78k. It’s like they’re playing with the market, making me wonder why no one can just reach an agreement to keep it stable.
Market Moves or Just Manipulation?
19 replies 495 views
If this keeps up, oil could spike on Monday, but hey, we’re just chilling this weekend. Iran’s closing the strait again due to the US blockade... just crazy, right? Don’t sweat about Bitcoin, it always bounces back.
You guys do realize Bitcoin doesn’t play by these rules with pricing, right? Sure, the governments influence it, but inflation wouldn’t even dent the Bitcoin network. We’ll probably still see it hit $80k this month.
Honestly, this war looks like it’s dragging on indefinitely. Manipulation or not, we just gotta watch the market. Bitcoin will rally again, and if there’s a dip? No biggie, just time to enjoy the ride but yeah, be aware of corrections.
Some might laugh, but for many, it’s serious. Prices are skyrocketing, jobs are disappearing, and poverty is creeping up. Iran’s not giving up on its nuclear goals. The shortage of oil is real, and that impacts everything, including Bitcoin.
Market fluctuations are part of the game, no matter who’s pulling the strings. I don’t think the Strait of Hormuz reopening had anything to do with Bitcoin hitting $78k; it's pure coincidence. If it really affected prices, we’d see Bitcoin drop well below $70k.
kevin_atlasFull Member
Posts: 56 · Reputation: 589
#7Sep 4, 2023, 08:14 PM
Friday was a mess. Oil prices were all over the place; you could see the market reacting to news. It’s like they’re playing chicken with oil production. And production days lost mean oil price averages will definitely trend up for a while.
I get that news doesn’t always affect sentiment right away, but let’s be real. War news, especially involving the Strait of Hormuz where a huge chunk of oil passes through, affects market volatility. It’s a big deal.
I doubt it’s market manipulation at play here. This situation is war-related, with both sides trying to flex their muscle. I thought Iran reopening the strait would ease things up, but with the US stuck in its blockade, it’s hard to see a way out.
This isn’t just a joke to them; it’s serious. Bitcoin’s already dropped to around $75k following the strait closure news. It feels like high-level manipulation, with real lives hanging in the balance.
You might have a point. Bitcoin is always volatile, but don’t you think the closure could scare some traders into selling? The drop from $78k to $74k, then back to $75k... feels weirdly timed. Coincidence?
There’s definitely a chance this is manipulation or psychological warfare between the US and Iran. It seems like both countries are trying to gain the upper hand over the strait, and the market is just along for the ride.
Market conditions depend heavily on our governments. Sure, we’re not feeling the oil price hike yet, but we might soon. Iran is reacting to US rules with the strait closure, which could lead to higher costs for all of us.
notyourkeysNewbie
Posts: 61 · Reputation: 12
#14Sep 7, 2023, 04:38 PM
Volatility is a given, whether manipulation exists or not. But I think Bitcoin’s susceptible to geopolitical stuff like the Strait of Hormuz closure. The price drop must mean something, right? Too many coincidences with current events.
sigma_nodeSenior Member
Posts: 26 · Reputation: 1851
#15Sep 7, 2023, 05:13 PM
This isn’t some kid game; it’s a serious geopolitical mess. The US and Iran seem trapped in a cycle of blockades and closures. The strait’s status always influences the global economy, and yeah, it affects crypto too.
I wouldn’t call it manipulation exactly; it’s more like a burden being placed on a lot of people worldwide. War causes financial pressures, and trust me, the public is kept in the dark about its impact on everything.
yield_2021Full Member
Posts: 23 · Reputation: 550
#17Sep 7, 2023, 11:49 PM
News really influences market movements. Bitcoin is trying to get back to its previous highs, but that could take a while. Everything that's happening affects not just Bitcoin but all cryptos.
Sure, and maybe a miracle will happen and fix everything overnight. Normalizing energy prices isn’t the same as fixing the economy, you know? Bitcoin’s been holding strong despite the situation in Hormuz.
raven_2020Member
Posts: 72 · Reputation: 61
#19Sep 8, 2023, 10:32 AM
Where'd you get the intel about oil prices dropping? Iran’s been using the strait as a weapon for self-defense, especially tied to ceasefire talks. The whole situation is interconnected, with a lot at stake.
SilentBearFull Member
Posts: 19 · Reputation: 453
#20Sep 8, 2023, 12:35 PM
It’s sad but what can we do? When two giants fight, it’s the small guys who always suffer. Iran and the US might not mean to mess with the market, but their actions are clearly hurting everyday people.
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