Bitcoin Market Price in Respect of News - page 3.

OgNasty

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Quote from: Stepstowealth on August 09, 2023, 07:43:45 AM

Quote from: 348Judah on August 09, 2023, 06:13:25 AM

There's more to say and discuss on how the influence of news could alter the market price for bitcoin even though this may not be much felt but the impact of news has its own little way of contributing to the bitcoin market price,

The news coupled with other events have effect on the market, they fall under fundamentals and what you will analyze fundamentally if you trade cryptocurrency. The nature of the news can influence people's action in certain ways. A positive news about bitcoin will encourage people to buy, while bad news concerning bitcoin will make people who have bitcoins want to sell, or reduce the demand for bitcoins which then affects the price. The news influences the price of bitcoins.

I think a majority of crypto news events are actually non-events that traders utilize to try and move the market one way or another with their trades. Traders need volatility and the news is where they go to get it. If you have a long term time preference though, the only news you should care about are major changes to regulation (ETF approvals) or the halving event. Everything else is mostly noise.

MusaPk

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Quote from: fzkto on August 11, 2023, 08:17:52 AM

The cryptocurrency market is unregulated and any big players can create good or bad news to profit from trading. It doesn't matter who it is, government officials, SEC or anyone else. Anyone, even Gary Gensler can make big money in the exchanges just by making the right news because he has the power. This is a bad thing as most people take losses because of it.

The trick is you don't have to follow news to make a big move to sell your coins. News can temporarily have impact on bitcoin price but bitcoin has the capability of strongly bouncing back (see historical price data of bitcoin). There are instances where news doesn't have any impact on bitcoin price. If you are long term investor then there is no way you need to worry about news.

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News can alter the price and everyone says that when positive news are coming then the price become increasing but I don't know the fact that now people are talking about halving and the news are spreading all over the world but still the price is getting down so what the reason behind it?

It is clear that when good news are coming demand grows like halving is a good news so demand is boosting so its value should be increasing but instead of elevation there is a dump in the rate of bitcoin.

I know it's temporary but this temporary ups and downs make the holders discomfort and because of this comfort sometimes they make sudden, wrong and useless decisions.

wmaurik

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Quote from: fzkto on August 11, 2023, 08:17:52 AM

The cryptocurrency market is unregulated and any big players can create good or bad news to profit from trading. It doesn't matter who it is, government officials, SEC or anyone else. Anyone, even Gary Gensler can make big money in the exchanges just by making the right news because he has the power. This is a bad thing as most people take losses because of it.

This could have happened due to the actions of a person or several people because the cryptocurrency market is not regulated by any government so that people who have the power to create turmoil in the market can do so in a way that has more influence on prices. Examples include putting more money into the market to buy something, because rich people usually use money more often to get more money through the market. So the power of money is the basic ingredient to be able to do that.

Yamane_Keto

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Quote from: Baofeng on August 10, 2023, 02:54:26 PM

Just a normal movement, although what we've seen is that the price went down below the support of $29k and everyone was really nervous that will continue to go down as the analysis says it's either $22k or $30k.

The problem is that we are not testing the $31,000 level to say that the price may reach $37,000 before Christmas, but we are testing the lows at $28,000, which if it continues, we will see $22,000 prices soon.

If we do not move from levels of $29,200 in the coming weeks, we will most likely return to 22,000, or until we re-test the bottom again.

fzkto

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Quote from: Fundamentals Of on August 10, 2023, 11:21:24 PM

I agree that news is a factor in Bitcoin's price but I don't think the news of the Fed taking a new approach to Bitcoin was the reason of Bitcoin rising to $30,000. That news was not even clear. It was not big enough as well. And also it didn't say that the Fed will treat Bitcoin as a currency.

Many crypto news outlet often wrongly attribute the price movements to the wrong reasons. They often link certain events of whatever kind to the movement of Bitcoin's price. Often, their stories are bereft of logic and relevance. They just want to make a story for content's sake, sometimes hoping it would explode.

The cryptocurrency market is unregulated and any big players can create good or bad news to profit from trading. It doesn't matter who it is, government officials, SEC or anyone else. Anyone, even Gary Gensler can make big money in the exchanges just by making the right news because he has the power. This is a bad thing as most people take losses because of it.

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Quote from: 348Judah on August 09, 2023, 06:13:25 AM

There's more to say and discuss on how the influence of news could alter the market price for bitcoin even though this may not be much felt but the impact of news has its own little way of contributing to the bitcoin market price, information reaching that the FED take a new dimension on bitcoin approach seing it as a currency and given it due recognition in cryptocurrency might be the reason for the shift we had as seing that bitcoin gets to $30,000 few hours ago before coming down to $29,880 what are your opinions and thoughts on this.

News has a huge impact on the market and that's because Bitcoin or cryptocurency market is made up of largely inexperienced traders that depends on the news to trade. If similar news was to come out during the bull market it would have had more impact than it did now.

The only reason the market isn't pumping is because we're still in the bear market which fear uncertainty and doubt is still in my mind of traders and investors and you can. See that playing out in the market with the price of Bitcoin trying to increase but later dip down.

It's normal for the market that when there's positive news, the market will response by a increasing and when there's negative news the opposite happens and this isn't only limited to Bitcoin market but it also happens in other market although it happens here more.

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It's best not to get too swayed by news like that because it might make you think something will happen to Bitcoin. Sure something will happen but Bitcoin can survive the negative news released by media sites like that.

News like that can also influence you in making decisions related to Bitcoin. So far, many people have panicked with press releases or negative news, even though what actually happened was not what they had imagined. This is why we, as Bitcoin investors, must have strong hands to keep holding Bitcoin and not be affected by any news.

Especially with the condition that the price doesn't move too significantly and sometimes even decreases, it turns out that some people panic and think about getting out of the Bitcoin market immediately. But sooner or later, the price of Bitcoin will start to increase, and even if there is negative news, it will not affect Bitcoin because the time for Bitcoin to increase has come.

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Quote from: Fundamentals Of on August 10, 2023, 11:21:24 PM

I agree that news is a factor in Bitcoin's price but I don't think the news of the Fed taking a new approach to Bitcoin was the reason of Bitcoin rising to $30,000. That news was not even clear. It was not big enough as well. And also it didn't say that the Fed will treat Bitcoin as a currency.

Maybe, but I guess the point is that it is considered as a good news even though it is not clear, That's why the price suddenly rose to almost close to $30k. However, it is not that strong, so right now, the price is pegged at $29,360.

Quote from: Fundamentals Of on August 10, 2023, 11:21:24 PM

Many crypto news outlet often wrongly attribute the price movements to the wrong reasons. They often link certain events of whatever kind to the movement of Bitcoin's price. Often, their stories are bereft of logic and relevance. They just want to make a story for content's sake, sometimes hoping it would explode.

Not the first time though, they have been doing it for sure, writing news without validation, in short most of them could be fake so we should take a grain of salt of every news that we will read, and often times it's for click back.

Fundamentals Of

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I agree that news is a factor in Bitcoin's price but I don't think the news of the Fed taking a new approach to Bitcoin was the reason of Bitcoin rising to $30,000. That news was not even clear. It was not big enough as well. And also it didn't say that the Fed will treat Bitcoin as a currency.

Many crypto news outlet often wrongly attribute the price movements to the wrong reasons. They often link certain events of whatever kind to the movement of Bitcoin's price. Often, their stories are bereft of logic and relevance. They just want to make a story for content's sake, sometimes hoping it would explode.

virasog

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Quote from: Wiwo on August 09, 2023, 07:04:37 AM

News have significant impact on the price of Bitcoin and in most cases news help push the price upward and when there is fud it will be downward drop, this is a noticeable feature in the Bitcoin market and that is why bitcoin is a speculative assets that one need proper guidance as to what to expect from it price.

On a second note you mentioned that the FEC consider bitcoin as a currency in your statement, but the link you shared does not mention anything like that, but if Fec truly approve Bitcoin as an asset or a currency that will indeed impact the value of bitcoin and most other assets that are pegged to Bitcoin.

No doubt bitcoin price is influenced by the news. Good news may pump the market, but bad news will definitely dump the market.

In my point of view, this is not a good thing and it shows an immature market. The sad part is that even false news or fuds also cause the bitcoin price to dump.

This also shows that the bitcoin market is very new and there needs to be more adaption of bitcoin. When Bitcoin will be distributed to many people, it will be hard for the market makers to make up the news and move the market in their required directions.

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News has a great effect on the psychology and activities of traders. It also affect the sentiment of the market. News can either hype or FUD the Bitcoin market and can easily reverse the flow of market trend if the news is strong enough that it carries a substantial information about the future activities of Bitcoin economic component.

Mahanton

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Quote from: 348Judah on August 09, 2023, 06:13:25 AM

There's more to say and discuss on how the influence of news could alter the market price for bitcoin even though this may not be much felt but the impact of news has its own little way of contributing to the bitcoin market price, information reaching that the FED take a new dimension on bitcoin approach seing it as a currency and given it due recognition in cryptocurrency might be the reason for the shift we had as seing that bitcoin gets to $30,000 few hours ago before coming down to $29,880 what are your opinions and thoughts on this.

Make out some impact or not, there's only two possible outcomes or situation that it could really be able to impose towards Bitcoins price in speaking about fundamentals or news around which we cant really be able to tell
whether it would move out or would really be just simply rejected. It is really that been known that this crypto market doesnt really care about external economical events back in the past on which it is mostly that being that independent or could really move the opposite despite of huge economical problems but now its totally a bit different on which whenever we do see some negative news like those FED interest rate related then it is really that trying out to make some movement which would basing up with that kind of sentiment. Somewhat just like on whats been said that not all the time it would really be making out some significant impact on which it is really that still hard to make out precise predictions if we do just simply basing up with FA and not really some mixing with some TA. If you do really take that seriously in speaking about these events then its not really that bad for some additional on which its always been that normal that every step we would make does have that corresponding risks.

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Quote from: goaldigger on August 10, 2023, 03:12:40 PM

News affects the price of Bitcoin and usually if there's a news about the government supports cryptocurrency or a big company investing on it, expect for the price to pump or at least have a short up trend. Bitcoin is still on the sideways and waiting for the right timing to break the resistance, we need more good news like this so Bitcoin can finally start the up trend again. Let's be more positive that no more bad news with crypto so we can have a better trend in the last quarter of 2023.

Yes, for sure those who have been in the market, really knows that news (positive or negative), has a affect on the price, even if the news is not somewhat related to crypto, but at least it has something to do with the financial world, then consider it as some sort of effect to us.

But if the news is directly related to crypto, just like what we've seen in the FTX collapse, it will put a lot of dent in the market.

Hopefully in the last quarter of this year, all we going to hear is good news so that we can at least touch $40k in December.

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News affects the price of Bitcoin and usually if there's a news about the government supports cryptocurrency or a big company investing on it, expect for the price to pump or at least have a short up trend. Bitcoin is still on the sideways and waiting for the right timing to break the resistance, we need more good news like this so Bitcoin can finally start the up trend again. Let's be more positive that no more bad news with crypto so we can have a better trend in the last quarter of 2023.

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Quote from: Yamane_Keto on August 10, 2023, 08:12:38 AM

I do not see a change in the price of Bitcoin during the previous weeks, and do not look at the price only, but at the trading volumes near the resistance level, which does not seem to be sufficient to break the top.
Tracking the price using general bitcoin charts that gives you a limited reading of the nature of the market. Use the trading view with moving averages and trading volumes to get a reading of whether the price is at a normal level or if something will happen.

News affects retail investors which is often translated as a change in supply and demand, which is not happen.

Just a normal movement, although what we've seen is that the price went down below the support of $29k and everyone was really nervous that will continue to go down as the analysis says it's either $22k or $30k.

But the good news is that it went on the later as we almost touch $30k again in the last couple of weeks because of some positive news attributed to the FEDS. Nevertheless it is still us retail investors who could have move the price if we wanted too. But let's see, we need to overcome that $30k barrier and make it our support line this month.

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I do not think that this is a reaction or anything like that, it is not a big increase, it didn't went up 20%+ suddenly or something, didn2t went up even 10% to be fair, it went up very little and that doesn't require any news to go up like that. It can go up like that at any time and we should remember that it is not a big deal at all.

It will take some time before people realize that things could be different, but that doesn't mean that we are going to end up with a result like this when a good thing happens, this is just normal and we should be used to it by now. I get that it will take a while before we could do something better and that is what I am expecting right now, it should be considered good deal.

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Quote from: Nrcewker on August 10, 2023, 07:57:25 AM

News really play an important role in manipulating the price. Now whether the news is good or bad, it really diverts the flow of the price. The news influence the people and they do the necessary actions next. We know that Bitcoins follow the policy of supply and demand, hence the price goes up when the demand to accumulate it increases by the people. This happens due to the fix supply of the coins. So when there is good news about the coin, more people shows interest and buy the coins and hence the news is affecting the price.

The news affects everything in the market. The news determines public sentiments which then determines the supply and demand and then the price. They are all powerful factors that determine price direction of the asset but the news stands as the most dominant. The thing with the news is that there is always an after effect even when it has died down. Aside the news, a powerful crypto influencer also plays a role too. These influencers may include Elon Musk, CZ of Binance, Micheal Saylor, and others.

Yamane_Keto

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I do not see a change in the price of Bitcoin during the previous weeks, and do not look at the price only, but at the trading volumes near the resistance level, which does not seem to be sufficient to break the top.
Tracking the price using general bitcoin charts that gives you a limited reading of the nature of the market. Use the trading view with moving averages and trading volumes to get a reading of whether the price is at a normal level or if something will happen.

News affects retail investors which is often translated as a change in supply and demand, which is not happen.

Nrcewker

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News really play an important role in manipulating the price. Now whether the news is good or bad, it really diverts the flow of the price. The news influence the people and they do the necessary actions next. We know that Bitcoins follow the policy of supply and demand, hence the price goes up when the demand to accumulate it increases by the people. This happens due to the fix supply of the coins. So when there is good news about the coin, more people shows interest and buy the coins and hence the news is affecting the price.

Topic: Bitcoin Market Price in Respect of News - page 3. (Read 504 times)