Bitcoin doesn't care about Tesla and Amazon - page 6.

michellee

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Quote from: AniviaBtc on July 30, 2021, 09:18:45 PM

Bitcoin can work on its own and it doesn't need any big companies like that, they are saying that they will going to adapt but ended up leaving bitcoin behind.

Look at bitcoin now, its price is increasing without those things, hoping that we can see more increase in bitcoin in the market.

If you think that bitcoin only needs big companies to prevail in the market then you are wrong, it can make its own uptrend.

Yes, bitcoin does not need a big company. But those big companies can adopt bitcoin to their payment system and introduce bitcoin to the public. That will help the bitcoin popularity since the big companies will influence the other companies, whether it is small or big companies. We can not deny that because the more companies can adopt bitcoin and use bitcoin, that can make bitcoin become mainstream and maybe the popularity will increase more than now.

Bitcoin price now increases and gets attention from investors from the companies, so it will be good if investors can invite more people to follow their way to invest in bitcoin.

AniviaBtc

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Bitcoin can work on its own and it doesn't need any big companies like that, they are saying that they will going to adapt but ended up leaving bitcoin behind.

Look at bitcoin now, its price is increasing without those things, hoping that we can see more increase in bitcoin in the market.

If you think that bitcoin only needs big companies to prevail in the market then you are wrong, it can make its own uptrend.

dothebeats

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Once the whole market gets over the initial excitement that these huge companies provide because of their involvement in bitcoin, it is a done deal. Just look at what Elon did with doge and bitcoin. A lot of traders, outsiders, and other people believed and followed his every word on Twitter, taking it as the gospel for investments until it led on to crashes and mayhem. Now, people still follow Elon’s moves on crypto, though a large portion of those who initially believed him are now ignoring what he’s saying online. The market matures, and it can literally shake off those who try to control it as time passes.

roosbit

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Bitcoin might not care about Tesla or Amazon but truth is these companies have so much influence to help grow the crypto economy.
Already we have seen how positively Tesla shot price up after going public about their interest in bitcoin and how they will accept crypto payments for their products.
Now imagine Amazon also turning to bitcoin as an accepted method to pay for its products and services, it would be bullish.

jostorres

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Quote from: stompix on July 29, 2021, 06:10:25 AM

Quote from: Liamttw on July 29, 2021, 01:52:48 AM

But bitcoin price fluctuations are largely affected by technical indicators rather than basic events.

Common, how many times does it takes for all indicators and for millions of TA graphs to get thrown in the garbage to realize that drawing those and trying to predict the price is worse than horse gambling when you don't even know the horse's numbers? One tweet from Musk the price is all over the place, one fake news the same, nobody was able to predict those movements continuously even once but people still have this fetish of trying to pick random periods of times and random log graphics and find patterns like some cultist in the 3rd century tried to find the face of Jesus on every tree trunk or rock.

Every so-called analyst tries to find ways to claim that there are ways to predict the price because if finally everyone realizes it's impossible he will be out of a job!
But I do love the way they only came AFTER! the event to say, no this was normal, it wasn't because of that, but not before to tell the price will reach 40k in one week or 60k in one month or drop to 30k in 20 days.
Let's see if Warren starts again spreading her non-sense about taxation how those technical indicators will work.

I hate the both sides and that allows me to be very impartial judge in this fight. I am a long term investor and all I do is just wait for the time to arrive for me to sell, which is years years years down the line and neither TA one may do right now nor tweet for Elon could change that, nothing changes for me whenever one of them does something. TA could look like it is going to go down huge amount and I won't care, or show that it will go up a lot and I won't care, or for example elon could say bitcoin is awesome and I won't care, or he could say it is horrible and I won't care.

Hence neither really bothers me, I am just waiting for the time bitcoin reaches 200k+ and that's it. And since I proved that I am objective I could say that TA is a bit better because it shows the very very short periods correctly most of the time, but tweets and unexpected news are always unpredictable so they are not really there to help anyone.

Fesatmas

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Quote from: avikz on July 29, 2021, 02:09:13 AM

Ideally it shouldn't but the reality is something different. Elon Musk did manipulate the bitcoin market with his comments. Same thing happened when the rumor about Amazon accepting bitcoin payment came out. I am not sure if you are trying to justify such incidents with technical analysis, but these are not really anything to do about resistance points etc. These are market manipulation at it highest level. Rumors spread faster than wildfire and that exactly what happened in last few days! Elon's was even more prominent and he has spoken publicly about accepting or not accepting bitcoin.

Bitcoin shouldn't care about all such big man's nuisance, but unfortunately it does!

Unfortunately when large holdings are used as a tool, then it is out of the original desire of the birth of Bitcoin. Is there anything missing from it all? where large holdings should be restricted, but I don't know how Bitcoin holdings can be limited. Because so far as long as you have a lot of money you can buy Bitcoin with any amount and become the whales of manipulating the price at will.
To be honest, at this point I no longer see the true definition of the decentralized function.

Assface16678

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Of course bitcoin doesn't care, it's probably because there's no person behind it besides Satoshi although he is gone a long time ago. But that's also the weakness of bitcoin, it can easily be manipulated by different entities that habe their own agenda or interests regarding bitcoin. The sad thing is that Tesla, Amazon and other companies care about bitcoin which ends up with the oublic that is struggling being the receiver of the negatives cause my the manipulation of this institutional investor.

maxreish

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It was highly affected by the demand and the supply together with how those investors react with the fundamental sentiments and news. Elon Musk is a powerful influencer, a rich business man tycoon that has many followers. The moment he release some statement about bitcoin, those followers (prolly bitcoin investors or maybe some have many bitcoins on their wallets), sell off their bitcoin that greatly affected the market.

The technical indicators will just show some signs how the market will react with those news.

electronicash

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now amazon knew they could affect the price of Bitcoin, they could actually try what elon musk did by spreading something because they matter.

although it will end eventually like they won't matter after a series of announcements or tweets, amazon still could try manipulate the market.

Questat

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When we speak of manipulation, anything could happen to the market, and sometimes it's the opposite of our expectation.

Bitcoin cares for the adoption as that is the purpose why it's created, as it's adopted, the demand will increase and the bitcoin price will rise.
Tesla and Amazon accepting bitcoin is a good adoption, especially for Amazon where millions of people are using this for their online shopping.

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Quote from: Liamttw on July 29, 2021, 08:41:26 PM

Quote from: shield132 on July 29, 2021, 06:04:13 AM

I sometimes think that those who do this kind of screens are sometimes under the Itachi's Genjutsu Cheesy

What really gives you a reason to say that in the title when your arguments actually prove the different idea? Technical analysis has nothing to do here.
Okay, let's see how everything happened:
Overall, there is an expectation that after the halving, bitcoin's price should significantly rise. It happened that way and went up to 20K. Then what happened? PayPal announces that it will accept Bitcoin and it increased the price. Then Elon Musk announces that Tesla will accept the crypto and then price rises again and then the rise continue until his tweet that really destroyed the whole crypto market. His tweets had so much influence that it not only seriously affected the Bitcoin's price but at the same time he was seriously hyping the Dogecoin and it had an enormous increase in price.

After Elon's tweet, it was looking like the market was rebounding but then the China announced mining ban and it finally crashed the market without the chance of rise. Then, what happened? Btc was playing between low price range and one day the rumor leaked that Amazon is going to accept the price and it quickly reached the 40K price, liquidated a lot of short positions on futures market.

So, yeah, it's price is very dependant on this kind of actions and the result from these announcements is almost immediate.

Tesla accepted Bitcoin for the first time, and huge transactions pushed up its price. There have been reports recently that Amazon as the world's largest retailer will accept encryption, which is also big news for his own creation. Enter the Bitcoin world and make it public, thereby enhancing the credibility of Bitcoin in the eyes of the public. This will affect the price of Bitcoin in the short term.
Bitcoin is incredibly resilient, and in the long run, price changes do not come from these major events. Bitcoin is a real revolution and does not need its players. Bitcoin is the future.

Major events are definitely leaving a huge impact into bitcoin, either it causes bitcoin to dump or even pump. But one thing is certain, even if the news made it to dump, it will always bound to recover again and surprisingly settles into its new heights.

Amazon has now clear the issue and says its only a rumor and there's no reality in it. Bitcoin then immediately made a correction but after a while, bitcoin has even reached into $40k. From this, we can see how bitcoin becomes so flexible that after it dumps, the price turns out into very positive again which made the people to trust bitcoin even more.

sapnu

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Quote from: shield132 on July 29, 2021, 06:04:13 AM

I sometimes think that those who do this kind of screens are sometimes under the Itachi's Genjutsu Cheesy

What really gives you a reason to say that in the title when your arguments actually prove the different idea? Technical analysis has nothing to do here.
Okay, let's see how everything happened:
Overall, there is an expectation that after the halving, bitcoin's price should significantly rise. It happened that way and went up to 20K. Then what happened? PayPal announces that it will accept Bitcoin and it increased the price. Then Elon Musk announces that Tesla will accept the crypto and then price rises again and then the rise continue until his tweet that really destroyed the whole crypto market. His tweets had so much influence that it not only seriously affected the Bitcoin's price but at the same time he was seriously hyping the Dogecoin and it had an enormous increase in price.

After Elon's tweet, it was looking like the market was rebounding but then the China announced mining ban and it finally crashed the market without the chance of rise. Then, what happened? Btc was playing between low price range and one day the rumor leaked that Amazon is going to accept the price and it quickly reached the 40K price, liquidated a lot of short positions on futures market.

So, yeah, it's price is very dependant on this kind of actions and the result from these announcements is almost immediate.

This just clearly shows how volatile and how affected bitcoin by external factors. Those recent past events indeed made a huge impact on bitcoin's price right away but still we cannot rely on such that it will be consistent or stable. Those events just hypes the market for a short moment and we'll be back to the usual price once again. Maybe bitcoin doesn't really need help from those huge companies yet if only they did the right thing towards bitcoin, maybe it would have been possible that the certain company who chose to collaborate and help bitcoin would have ended up helping each other.

Alisha-k

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I would say both work hand in hand but in the absence of fundamental analysis, technical analysis supersedes Elon musk happens to be a key stack holder in the blockchain industry and has such his tweet can cause spikes but when those tweets aren't available technical analysis rules the movement of price. So I feel both moves together

fulcare

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Quote from: Renampun on July 29, 2021, 12:02:55 PM

Quote from: Jawhead999 on July 29, 2021, 02:37:43 AM

Only weak hands, newbies and Elon musk fans was caused the price dump in the past, they only follow what the self pro claimed and their role model doing because they trust them. They have a mindset since his role model is very rich, then to become a rich like him he need to follow anything what his role model do.

Yep, Elon Musk has millions of fans out there and makes him a role model...

I've heard that imitating the mindset of someone who is rich will make you rich but will they by imitating the mindset of Elon become rich? Bitcoin doesn't need big inconsistent companies that just act to manipulate the market.

You may have heard that, but how would you imitate his mindset if you don't know whether what he presents to be his mindset really is his mindset? He could think differently than he talks. You may fail to grasp his mindset fully because he is smart in psychology, knows what to say in order to get you do what he wants you to do, and you don't even realize it. How would you imitate the mindset of such a person that is able to manipulate you in the first place?

Roy Asher

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I personally think that Bitcoin cares about Tesla. Bitcoin cares about Amazon. Bitcoin is a network. It cares about every individual and entity that wants to be a part of it. The more wealth that is determined to be stored and traded on the Bitcoin network, the more valuable Bitcoin is.

Liamttw

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Quote from: shield132 on July 29, 2021, 06:04:13 AM

I sometimes think that those who do this kind of screens are sometimes under the Itachi's Genjutsu Cheesy

What really gives you a reason to say that in the title when your arguments actually prove the different idea? Technical analysis has nothing to do here.
Okay, let's see how everything happened:
Overall, there is an expectation that after the halving, bitcoin's price should significantly rise. It happened that way and went up to 20K. Then what happened? PayPal announces that it will accept Bitcoin and it increased the price. Then Elon Musk announces that Tesla will accept the crypto and then price rises again and then the rise continue until his tweet that really destroyed the whole crypto market. His tweets had so much influence that it not only seriously affected the Bitcoin's price but at the same time he was seriously hyping the Dogecoin and it had an enormous increase in price.

After Elon's tweet, it was looking like the market was rebounding but then the China announced mining ban and it finally crashed the market without the chance of rise. Then, what happened? Btc was playing between low price range and one day the rumor leaked that Amazon is going to accept the price and it quickly reached the 40K price, liquidated a lot of short positions on futures market.

So, yeah, it's price is very dependant on this kind of actions and the result from these announcements is almost immediate.

Tesla accepted Bitcoin for the first time, and huge transactions pushed up its price. There have been reports recently that Amazon as the world's largest retailer will accept encryption, which is also big news for his own creation. Enter the Bitcoin world and make it public, thereby enhancing the credibility of Bitcoin in the eyes of the public. This will affect the price of Bitcoin in the short term.
Bitcoin is incredibly resilient, and in the long run, price changes do not come from these major events. Bitcoin is a real revolution and does not need its players. Bitcoin is the future.

Dave1

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Quote from: ChiBitCTy on July 29, 2021, 04:23:51 PM

I completely disagree, these two events, The B Word roundtable and the Amazon hiring news both greatly effected the price of bitcoin. In large part this news caused a lot of traders to cover their short positions due to the rise that these news event created. This is a fact, and not really something that can be debated. I'm not saying traders should care about these event's as much as they do, but they do.

Of course traders and speculators care about the next big news to make profits. But if they short in the last 7 days, they should be at a negative because the price suddenly jumps above $40k and then stay there for some time before a quick dump, forcing the market to ~$39k right now.

But we should understand that the last price movement was not fueled by Amazon because they have denied it. And the price continue to soar as I have said and it is not dumping hard as expected. Still good and strong at $39k, strong indication that we might see another break out run next month.

ChiBitCTy

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I completely disagree, these two events, The B Word roundtable and the Amazon hiring news both greatly effected the price of bitcoin. In large part this news caused a lot of traders to cover their short positions due to the rise that these news event created. This is a fact, and not really something that can be debated. I'm not saying traders should care about these event's as much as they do, but they do.

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Quote from: bL4nkcode on July 29, 2021, 03:02:04 PM

Quote from: Jawhead999 on July 29, 2021, 02:37:43 AM

Only weak hands, newbies and Elon musk fans was caused the price dump in the past, they only follow what the self pro claimed and their role model doing because they trust them.

But that doesn't change the fact that elon and his minions also the reason why bitcoin pumps after tweeting related to bitcoin, changing bio with a bitcoin hashtag, investing and tesla's accepting bitcoin payment, etc. And after a while it dumps, mainly because of him and tesla's revoking the acceptance of bitcoin payment as well.

Of course, bitcoin are still affected with this current events but the effect is just temporary. Afterwards, bitcoin rises up again with new positive updates passing through its resistance level.

Tesla and Amazon are both big companies that made bitcoin price to decline and it's undeniable. But bitcoin does not stop there. If it will be easily affected with negative news, then same thing happens whenever positive news will come too. Bitcoin will hype again and may reach another peak again in time.

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Quote from: Jawhead999 on July 29, 2021, 02:37:43 AM

Only weak hands, newbies and Elon musk fans was caused the price dump in the past, they only follow what the self pro claimed and their role model doing because they trust them.

But that doesn't change the fact that elon and his minions also the reason why bitcoin pumps after tweeting related to bitcoin, changing bio with a bitcoin hashtag, investing and tesla's accepting bitcoin payment, etc. And after a while it dumps, mainly because of him and tesla's revoking the acceptance of bitcoin payment as well.

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