Did Miss El Salvador cause the Bitcoin price to spike last night?

bitzizzix

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Quote from: Republikcoin.com on January 15, 2023, 09:51:52 PM

Quote from: landheer on January 15, 2023, 08:47:40 PM

In my opinion, of course, there are many factors that cause the price of bitcoin to rise, one of which could be because of Miss El Salvador, who is wearing a bitcoin costume, and that causes people to become interested in bitcoin, but of course there are many factors that make bitcoin rise, including what I know, namely because we have sitting in the bear market for too long and I think in 2023 now is the time to move towards the bull market.

The influence of Miss El Salvador on increasing the price of Bitcoin does exist, moreover there in El Salvador Bitcoin has become a legal asset for payment and the government itself is still making new things related to Bitcoin for the development of Bitcoin there and this can also be a an example for other countries in the world.

But for another thing, because there has been little bad news that was born this month, the price increase has started to occur because people who want to buy Bitcoin are more confident and no longer experience panic.

Yes, if Miss El Salvador can influence the increase in the price of bitcoin, I think there must be an influence because she is the first country to legalize bitcoin, so most people buy and use bitcoin for various purposes including investment.
and previously the decline in the price of bitcoin was caused by many factors and the strongest of them was the FTX factor, and now many investors and all users are smart because they are not affected by negative news about bitcoin, because they realize it is only temporary and learn from the past.
And they also take advantage of the decline as their opportunity to buy or collect more bitcoins, but don't get too excited and have to be careful because the decline in bitcoins will still occur due to several factors that we will never know.

MarjorieZimmermanGinger

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Quote from: fadhilz123 on January 15, 2023, 03:26:58 AM

El Salvador has indeed seen Bitcoin as a very serious asset long ago and never cared about the words of other people who might only scare them through the level of risk that the country will face. And after the successful adoption of Bitcoin in El Salvador, recently or to be exact in the last three days, El Salvador has approved a law that will govern the issuance of other digital assets by both the state and private entities.

The bill, backed by lawmakers from the ruling party allied to President Nayib Bukele, aims to attract national and foreign investors while creating new financing opportunities for citizens, companies and the government. Source: https://www.aljazeera.com/news/2023/1/12/el-salvador-passes-law-on-cryptocurrency-transfers

El Salvador does face the risk of adopting bitcoin, starting from the protests of several residents there and also the world bank who refused a request to help El Salvador make bitcoin a legal tender, but because Nayib Bukele saw the great potential in bitcoin, the adoption went well. This is evidenced by the success they achieved in making a big decision to take steps to adopt bitcoin as a legal tender. Conversely, after this adoption occurs, their income from the tourism sector is also increasing every day.

This is a refinement or additional from the previous law, because in 2021 El Salvador has also effectively implemented the Bitcoin Law as a legal means of payment. The addition of this law will also make it easy for investors to enter there, so that this effort is better and effective.

Republikcoin.com

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Quote from: landheer on January 15, 2023, 08:47:40 PM

In my opinion, of course, there are many factors that cause the price of bitcoin to rise, one of which could be because of Miss El Salvador, who is wearing a bitcoin costume, and that causes people to become interested in bitcoin, but of course there are many factors that make bitcoin rise, including what I know, namely because we have sitting in the bear market for too long and I think in 2023 now is the time to move towards the bull market.

The influence of Miss El Salvador on increasing the price of Bitcoin does exist, moreover there in El Salvador Bitcoin has become a legal asset for payment and the government itself is still making new things related to Bitcoin for the development of Bitcoin there and this can also be a an example for other countries in the world.

But for another thing, because there has been little bad news that was born this month, the price increase has started to occur because people who want to buy Bitcoin are more confident and no longer experience panic.

maydna

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Quote from: AmoreJaz on January 15, 2023, 06:47:15 PM

Quote from: maydna on January 15, 2023, 12:39:35 PM

I never imagined that it was Miss El Salvador wearing a dress with her bitcoin logo driving the bitcoin price. It's accidental and seems related. I also don't know what caused the current bitcoin price to break above $ 20k. But it looks like this is just the beginning because we will see the market still recovering from its old state and will make price movements that we have never seen before. So it's best not to be too curious about what makes bitcoin prices go up but just enjoy this moment because we will see it fly even higher.

i am more on the side about the news of ftx recovering about $5B of assets. making some crypto investors gain their trust to the market. with ms el salvador wearing btc logo, i believe not many people have seen her. but in any case, that's a good promotion for btc also. it also shows that their contestant is well aware of their country's position towards btc market.

Perhaps, the news of FTX recovering its assets gives investors confidence, but that's just our guess because I'm sure other things can really push the bitcoin price to go up. But yesterday's Miss El Salvador shirt became a bitcoin promotion because many viewers were watching the show, although I don't think that was the reason. But whatever causes the price of bitcoin to rise, we must be grateful because it can pass $ 20k, especially since the increase is on the weekend, when the price usually experiences a correction.

landheer

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In my opinion, of course, there are many factors that cause the price of bitcoin to rise, one of which could be because of Miss El Salvador, who is wearing a bitcoin costume, and that causes people to become interested in bitcoin, but of course there are many factors that make bitcoin rise, including what I know, namely because we have sitting in the bear market for too long and I think in 2023 now is the time to move towards the bull market.

AmoreJaz

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Quote from: maydna on January 15, 2023, 12:39:35 PM

I never imagined that it was Miss El Salvador wearing a dress with her bitcoin logo driving the bitcoin price. It's accidental and seems related. I also don't know what caused the current bitcoin price to break above $ 20k. But it looks like this is just the beginning because we will see the market still recovering from its old state and will make price movements that we have never seen before. So it's best not to be too curious about what makes bitcoin prices go up but just enjoy this moment because we will see it fly even higher.

i am more on the side about the news of ftx recovering about $5B of assets. making some crypto investors gain their trust to the market. with ms el salvador wearing btc logo, i believe not many people have seen her. but in any case, that's a good promotion for btc also. it also shows that their contestant is well aware of their country's position towards btc market.

spectre71

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no, but she caused me to spike

maydna

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I never imagined that it was Miss El Salvador wearing a dress with her bitcoin logo driving the bitcoin price. It's accidental and seems related. I also don't know what caused the current bitcoin price to break above $ 20k. But it looks like this is just the beginning because we will see the market still recovering from its old state and will make price movements that we have never seen before. So it's best not to be too curious about what makes bitcoin prices go up but just enjoy this moment because we will see it fly even higher.

MoonOfLife

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Quote from: solehdavid on January 15, 2023, 11:23:02 AM

it's just an advertisement, i don't think it has any impact on the current value of bitcoin. the bitcoin market is not soft enough to change when a beautiful woman poses for the cameras with a bitcoin sign in her hand, i think it was just a coincidence. still i would say it's a positive advertisement for bitcoin from a marketing point of view

Rather, it's an advertisement from El Salvador, they are looking to help bitcoin grow because when bitcoin grows, they will also be the beneficiaries. It's funny to think that it's this little thing that makes bitcoin go up in price. I guess bitcoin price increase is due to sharks pumping, and manipulating market sentiment or maybe it is because CPI is falling and that is a positive sign for the world economy.

solehdavid

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it's just an advertisement, i don't think it has any impact on the current value of bitcoin. the bitcoin market is not soft enough to change when a beautiful woman poses for the cameras with a bitcoin sign in her hand, i think it was just a coincidence. still i would say it's a positive advertisement for bitcoin from a marketing point of view

KaliLinux

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Quote from: GreatArkansas on January 15, 2023, 06:16:44 AM

Quote from: Guessti on January 14, 2023, 07:08:55 PM

The spike was caused by FTX finding billions more in assets. You guys seriously asking this question?

It's normal to ask this question because the same time, Miss Universe happened also and the appearance of a Bitcoin candidate which is from El Salvador made a surprise to the world.
By doing this, Bitcoin did an amazing advertisement again to the world. The announcer also told about how El Salvador using Bitcoin as legal tender and I believe this is a big W for Bitcoin.

Regardless, I don't think that this was the reason Bitcoin moved the way it did because if anyone have been following the chat since the beginning of the year, you would realize that Bitcoin has actually been rising in the immediate short term from the about the first daily candle of Jan. 2023.

GreatArkansas

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Quote from: Guessti on January 14, 2023, 07:08:55 PM

The spike was caused by FTX finding billions more in assets. You guys seriously asking this question?

It's normal to ask this question because the same time, Miss Universe happened also and the appearance of a Bitcoin candidate which is from El Salvador made a surprise to the world.
By doing this, Bitcoin did an amazing advertisement again to the world. The announcer also told about how El Salvador using Bitcoin as legal tender and I believe this is a big W for Bitcoin.

DanWalker

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Bitcoin has rallied, and there hasn't been any news to legitimize things, so it's not surprising that people try to attach any news regarding bitcoin's price increase. But to say that this news is driving bitcoin up is really underestimating bitcoin. Bitcoin can't go up in price just because a girl wearing a bitcoin logo outfit on the catwalk can affect it. If bitcoin was so easy to manipulate, then I think Elon could have bought all the bitcoins in circulation Tongue

.

Jawhead999

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Quote from: Guessti on January 14, 2023, 07:08:55 PM

The spike was caused by FTX finding billions more in assets. You guys seriously asking this question?

Not really, the fact is FTX haven't distribute the funds to their victims, the news of FTX already have 5 Billions is still just their claim and there's no way to verify it. Even FTX can recover all of their money, it doesn't mean their customers have a same confidence to use FTX again.

Quote from: Bitstar_coin on January 15, 2023, 04:09:33 AM

The more people in btc the better, it will perhaps reduce the amount in the hands of a few whales.

There's nothing wrong if few whales hold huge portion of Bitcoin, if they can hold huge amount Bitcoin, it means they've spend a lot money to buy it. Actually in Bitcoin, we need a people who can hold Bitcoin for long time and not willing to sell it for cheap, so it will increase the price since people need to follow the seller's price.

Bitstar_coin

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Quote from: hd49728 on January 12, 2023, 10:58:22 PM

It is not a Bitcoin adoption and Bitcoin did not pump because of this show. After months of accumulation and with a trend of bullish from stocks, gold in early 2023, Bitcoin joined the trend with its pump recent hours.

Adding a Bitcoin icon to her costume is not a Bitcoin adoption. It is a marketing noise, not adoption.

Adoption is when there is an agreement between buyer and seller to use Bitcoin as an exchange mean for their trade. The girl did not make any trade with her costume in the show.

She could do it by her idea but she could do it with a request from her President Nayib Bukele who strongly loves and supports Bitcoin. He put his nation to a bet with Bitcoin investment, Bitcoin bond (Volcano bond) and I am not surprised if the Venezuela Miss got a request from him.

Since they already adopted btc what else would they have to do than try and market it. And what is wrong with marketing btc to the whole world?

What I see is a confident country who despite all oppositions is not backing down on their goal.
If you can imagine the number of attendees in that event you would understand the importance of it all. How else can btc supporter's get the whole world to know about it if not through creating awareness.

The more people in btc the better, it will perhaps reduce the amount in the hands of a few whales.

hyudien

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Quote from: yazher on January 13, 2023, 02:21:06 AM

It's because some investors are starting to enter the market again and it seems like the last lower price is before that spike. Now we will gonna observe what will gonna happen next because if my speculation is right, this is the start of the price recovery. Still, we need to be careful on bull trap and we need to hold our horses because this hype might be the cause for other investors to backout.

Not sure if only the display has a big impact on the price. However, it is definitely time for this increase to start because investors have entered since early January to make purchases. A large pool of investors may not appear in public but we can see the impact of an increase in a short span of time. Bitcoin has become a common part of investing and people are becoming more confident about what they are buying in the long term. Moreover, we believe that ATH is still on track every 4 years. So that the beginning of 2023 will be used as an opportunity that investors will not let go.

fadhilz123

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Quote from: MarjorieZimmermanGinger on January 15, 2023, 03:07:55 AM

This is more of an introduction to the world, that El Salvador is seriously working on bitcoin adoption and even though they have done that long before this. In marketing science this kind of thing is good to apply, because it will affect some audiences indirectly, but in terms of adoption there is a special relationship that needs to be done, both technically and in other approaches.

El Salvador has indeed seen Bitcoin as a very serious asset long ago and never cared about the words of other people who might only scare them through the level of risk that the country will face. And after the successful adoption of Bitcoin in El Salvador, recently or to be exact in the last three days, El Salvador has approved a law that will govern the issuance of other digital assets by both the state and private entities.

The bill, backed by lawmakers from the ruling party allied to President Nayib Bukele, aims to attract national and foreign investors while creating new financing opportunities for citizens, companies and the government. Source: https://www.aljazeera.com/news/2023/1/12/el-salvador-passes-law-on-cryptocurrency-transfers

MarjorieZimmermanGinger

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Quote from: autumnleaf on January 12, 2023, 09:50:33 PM

Alejandra Guajardo, who represented El Salvador at Miss Universe 71, wore a costume with a Bitcoin theme. El Salvador is known as the first nation to legalize Bitcoin as a form of payment. Did Miss El Salvador cause the Bitcoin price to spike last night?

The bitcoin pumping was not caused by Miss El Salvador wearing a bitcoin themed costume, personally I saw the recovery and pumping that occurred in bitcoin in the last few days due to cyclical factors, this relationship is more acceptable and has been proven in previous years against ongoing cycles.

Quote

They just demonstrate to the rest of the world that they are prepared to move beyond simply embracing the cryptocurrency area by changing the way we perceive a cashless society. Adoption is a real phenomenon that won't end there.

This is more of an introduction to the world, that El Salvador is seriously working on bitcoin adoption and even though they have done that long before this. In marketing science this kind of thing is good to apply, because it will affect some audiences indirectly, but in terms of adoption there is a special relationship that needs to be done, both technically and in other approaches.

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Quote from: nurilham on January 14, 2023, 05:53:23 PM

Quote from: autumnleaf on January 12, 2023, 09:50:33 PM

Alejandra Guajardo, who represented El Salvador at Miss Universe 71, wore a costume with a Bitcoin theme. El Salvador is known as the first nation to legalize Bitcoin as a form of payment. Did Miss El Salvador cause the Bitcoin price to spike last night?

People already know what Bitcoin is, so what Miss El Salvador did shouldn't cause a significant impact on Bitcoin price. If Bitcoin can increase constantly in the last few days, it seems caused by other factors. I assume people have a better desire to buy Bitcoin because there are no longer bad news/issues. So, by more people bought Bitcoin, the price can increase constantly. It seems people don't want to miss a chance to buy at a lower price. Another reason, we are already in the 2nd year of bearish. So, in theory, the price should increase gradually and the dip rate have been passed already in the last year.

This is the coincidence. Whenever something happens positive in the market, people connect the move along with some incident that is happening around related to bitcoin. One such incident have taken place from the Miss Universe participant of El Salvador having bitcoin theme. Maybe that could've made unknown people look for bitcoin. The increase in price is out of other factors, particularly for the year 2024 to be bullish what we experience right now seems to be the start. How far this gonna get growing isn't known, it is good to enjoy when we get the opportunity. Watching the market closer will let you understand whether the market gonna grow continously or gonna drop down, based on which we need to make our moves that cab help in accumulate bitcoins.

Guessti

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The spike was caused by FTX finding billions more in assets. You guys seriously asking this question?

Topic: Did Miss El Salvador cause the Bitcoin price to spike last night? (Read 515 times)