But Bitcoin will still be affected by "rumors" or "hype".
When Musk said that he would use Bitcoin to pay, because he has a number of fans, this is also good news for Bitcoin, so it pushed the price of Bitcoin. When Amazon said that Bitcoin can be used, this The news also caused a period of enthusiasm and caused Bitcoin to rise. To be honest, the impact of the two on the price of Bitcoin can indeed be seen.
But Bitcoin is more flexible, because both of them are not currently implemented, and they are not substantively helpful to Bitcoin, but it is also because Amazon and Musk Bitcoin are more people's attention. It is also a good thing.
Topic: Bitcoin doesn't care about Tesla and Amazon - page 8. (Read 1121 times)
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.
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!
Bitcoin shouldn't care about all such big man's nuisance, but unfortunately it does!
At the beginning of this year, Tesla announced that it would accept Bitcoin as a payment for car purchases, and the price of Bitcoin has skyrocketed as a result. In May, after Musk announced that Tesla would no longer accept Bitcoin as a payment option due to environmental concerns, the price of Bitcoin began to dive. At the beginning of July, Musk said that Tesla would resume accepting Bitcoin in the future. Last week, Amazon issued a message to recruit people in charge of digital currency and blockchain products, which aroused people's attention. Therefore, many people would think these news caused changes in the price of Bitcoin.
https://www.forbes.com/sites/martinrivers/2021/07/27/bitcoin-didnt-care-about-tesla-and-it-doesnt-care-about-amazon-either/?sh=48dd020513b8
Quote
Trendlines act as support and resistance levels once widely recognized by traders, creating either a floor for price-action recovery or a ceiling for downward momentum to resume.
But bitcoin price fluctuations are largely affected by technical indicators rather than basic events. Bitcoin's short-term upward trend began before Amazon's job advertisement was announced, and the pace of the trend does not seem to be affected by news reports. These news will affect Bitcoin's short-term price fluctuations. In the long run, Bitcoin will not care about Amazon's recruitment information or Tesla's sentiment to cause price fluctuations.https://www.forbes.com/sites/martinrivers/2021/07/27/bitcoin-didnt-care-about-tesla-and-it-doesnt-care-about-amazon-either/?sh=48dd020513b8
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