Aren't these companies can be called big whales? It is well known that these entities can influence prices and also manipulate them, had it not been for this being done in a deliberate manner so that no competitor would be harmed and the ship would not sink with everyone.
In general, the price is affected, up and down, by the movement of supply and demand, as is well known. Especially the limited supply in front of the large demand. These elements enable the big whales to easily steer the market and control prices by controlling supply. Those same whales have the ability to publish news affecting the market to influence the market of a particular currency, whether by falling or rising.
Topic: Big businesses, corporations also influence the price of cryptocurrency market. - page 2. (Read 279 times)
February 23, 2023, 06:50:02 PM
February 23, 2023, 06:46:44 PM
Elon Musk again? Are we still in the year 2022 when everyone believed that such people had an impact on the price? What affects the price are the rules of supply and demand, any imbalance in those rules directly affects the price, news related to companies may affect supply and demand, but this happens because of the nature of this news and not the impact of companies.
Companies can influence through investments, which again means a change in the rules of supply and demand.
Companies can influence through investments, which again means a change in the rules of supply and demand.
February 23, 2023, 05:53:50 PM
Each and every move in bitcoin is out of the demand to the supply mechanism. Sometimes we feel lucky to have control good bounce in the market and the same doesn't last long. Here we need to understand, whoever the influencer or whatever the positive news, the market can be influenced to some margin. Beyond that it is the users who drives the market.
The prime objective of the bitcoin development is to support the financial transactions cross border without limitation and eliminating the third party. In reality the same have got transition as an investment and on different other purpose. When the objective for which this has been developed is fulfilled we'll experience the real market variations than the influencers impact.
The prime objective of the bitcoin development is to support the financial transactions cross border without limitation and eliminating the third party. In reality the same have got transition as an investment and on different other purpose. When the objective for which this has been developed is fulfilled we'll experience the real market variations than the influencers impact.
February 23, 2023, 05:44:55 PM
First, there's no way Bitcoin will achieve its purpose if it's not used as a mode of payment since it was created to complete or enhance financial and payment systems with no borders.
With that being said, there are a lot of things that will impact the price of the Bitcoin market one of them is a big fintech or multinational technology company accepting it as payment or a powerful influencer or celebrity public claiming to invest in it and the same thing goes to negative news either just like we see the impact of the US SEC crackdown on Kraken, Coinbase and Binance.us days ago.
With that being said, there are a lot of things that will impact the price of the Bitcoin market one of them is a big fintech or multinational technology company accepting it as payment or a powerful influencer or celebrity public claiming to invest in it and the same thing goes to negative news either just like we see the impact of the US SEC crackdown on Kraken, Coinbase and Binance.us days ago.
February 23, 2023, 04:39:30 PM
Are there other factors that influence the prices of cryptocurrency? Let's discuss!
I would say the Hot News are the main fact that affect the markets. Things like:
-A man found his old private keys with 1000 bitcoins on it.
-Faketoshi just win another lawsuit.
-Musk decide to invest $1B in cryptos.
-Ukraine is accepting bitcoin as donations.
That's what I call "Hot News", and that's what really moves the markets, when FTX scandal hit the news we see how the prize start crashing until it hit $16.5k, so, the best way to predict the next move on cryptos is to read the news paper all the mornings.
February 23, 2023, 03:27:09 PM
Are there other factors that influence the prices of cryptocurrency? Let's discuss!
Somehow you seem to come with a lot of topics you could have been researching a little, throw some words and "let's discuss". This is not OK. You should put more effort in this, now you just look desperate for meeting a post quota.
Elon Musk's behavior is known. Many no longer care about his announcements and the effects (many of them short-lived) his actions have on the price.
It's not IRA, it's IRS you wanted to tell about. And I think that SEC also keeps an eye on him.
And Bitcoin price... there are too many things that can affect it (some for longer term, some for shorter term): various announcements (like you said about Musk), various actions (institutional buys/sales), hacks, bankruptcies, new businesses opening, halving, ASIC chips/mining gears releases, war (let's not forget it), pandemic, recession... even the stimulus checks the Americans have received did affect the price.
February 23, 2023, 02:56:11 PM
Any major headline would surely have an impact on the market price. Big companies, like Tesla, PayPal or Microsoft accepting Bitcoin as a payment option is definitely a big news and would sway trader sentiment positively, increasing the price.
This does not mean Big companies can constantly impact the price or influence how it moves up or down. Elon Musk tried to test the extent of influence he has and eventually lost a significant amount of relevance.
• Major headlines.
• A breach or hack.
• Halving event.
• World economies.
This does not mean Big companies can constantly impact the price or influence how it moves up or down. Elon Musk tried to test the extent of influence he has and eventually lost a significant amount of relevance.
Are there other factors that influence the prices of cryptocurrency? Let's discuss!
Demand and supply are the main market factors. They in turn are affected by other secondary factors, such as;• Major headlines.
• A breach or hack.
• Halving event.
• World economies.
February 23, 2023, 12:59:02 PM
Breezing through some of the facts concerning Bitcoin, it became clear that businesses could influence the price of these cryptocurrency by making it a mode of payment for purchases of products or services. Making it more popular and making more people invest in them.
Read more at: https://editor.guardian.ng/technology/10-facts-about-cryptocurrency-you-should-know/
Other businesses has done this too, and it has also affected the stock market value of these companies. Where businesses make more channels as payment options for those who don't have such cash in account or fear IRA or other regulatory and tax bodies that would trail one with such huge cash bases; the crypto holders acquire properties from the businesses who are ready to accept cryptocurrency as exchange for their products or services, thereby they influence the prices of these products or services when others see this success and subscribe to same means of payments for commerce.
Are there other factors that influence the prices of cryptocurrency? Let's discuss!
Quote
Musk has had an impact on the price of bitcoin, dogecoin, and the cryptocurrency market as a whole simply by announcing which coins Tesla will accept for car purchases.
Read more at: https://editor.guardian.ng/technology/10-facts-about-cryptocurrency-you-should-know/
Other businesses has done this too, and it has also affected the stock market value of these companies. Where businesses make more channels as payment options for those who don't have such cash in account or fear IRA or other regulatory and tax bodies that would trail one with such huge cash bases; the crypto holders acquire properties from the businesses who are ready to accept cryptocurrency as exchange for their products or services, thereby they influence the prices of these products or services when others see this success and subscribe to same means of payments for commerce.
Are there other factors that influence the prices of cryptocurrency? Let's discuss!
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