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.
Topic: Did Miss El Salvador cause the Bitcoin price to spike last night? - page 2. (Read 577 times)
January 14, 2023, 04:53:23 PM
January 14, 2023, 04:41:26 PM
Doubt it. Bitcoin has pretty much been a household name for a while now. A lady wearing a bitcoin-themed dress wouldn't suddenly make people say "omg bitcoin I'm buying now!".
since I entered this bitcoin market I learned two very important things:
1 - whenever the price of bitcoin or the price of any altcoin goes up a lot out of nowhere it means that there is some news that caused the price to increase, in the same way that whenever the price of bitcoin or altcoins goes down a lot and because there is some news It is very important that they made people panic and decide to sell
2 - any news that is relevant or not but that exposes bitcoin or altcoin to a certain elite audience causes many people to start buying bitcoin or altcoin and the price goes up a lot
I think you have forgotten those who have a huge stash of Bitcoin can possibly have something to do with the price increase. Remember these people called whales have the influence to impact the market. A sudden rise in price is mostly contributed by these whales executing their scheme. Honestly, I really doubt the report like CPI would move the price of Bitcoin at this length, I believe it is a made reason so that whales who are acting behind won't be noticed.
January 14, 2023, 03:53:32 PM
I don't think so, indeed in this case it's a little surprising when the miss who represents El Salvador really amazed me by daring to make a bitcoin-themed concept but I think it's not a suitable thing to see bitcoin now being lifted.
The condition and the news about the statement from the CPI and the US's announcement of its inflation data has lifted this, I think.
The condition and the news about the statement from the CPI and the US's announcement of its inflation data has lifted this, I think.
January 14, 2023, 03:49:20 PM
It is not a Bitcoin adoption and Bitcoin did not pump because of this show.
I agree. It is difficult to know what causes a price spike because there are so many players interacting in the market. I think a price recovery is within the normal range for this 2023 once most of the leverage garbage is gone and we are getting closer to halving, although there is still more to come.
The Miss promoting Bitcoin is fine with me, as is anything that helps popularize it, but I think it is extremely unlikely to have anything to do with the price rise.
January 14, 2023, 03:18:00 PM
Bitcoin moves above 200 MA, who knows maybe this is one of the reasons to the recent changes in bitcoin price that have caused the surge but i can't agree the Miss El-Savador's event is the reason behind the increase but there could be coincidence atimes, let's give it a look at what the stats says here.
https://twitter.com/BTC_Archive/status/1614024557006032896?t=JojgGzK0Oq8muX7W1CHgkg&s=19
Long term holders of btc at 85 %
https://twitter.com/DocumentingBTC/status/1613875110540152832?t=J4R7T44Zg_G3KtmQQnAxCg&s=19
If you consider the downtrend moves on bitcoin price in couple of months back you will discover that things have begin to change well in favour of every bitcoiners around the world having one thing or the other which tied them to bitcoin and just as you can see the positive change ongoing even though it has not achieved where it should be but there's every indications bitcoin is making some positive moves starting from the bitcoin statistic that shows long term as holders now get to the range of about 85%
https://twitter.com/BTC_Archive/status/1614024557006032896?t=JojgGzK0Oq8muX7W1CHgkg&s=19
Long term holders of btc at 85 %
https://twitter.com/DocumentingBTC/status/1613875110540152832?t=J4R7T44Zg_G3KtmQQnAxCg&s=19
If you consider the downtrend moves on bitcoin price in couple of months back you will discover that things have begin to change well in favour of every bitcoiners around the world having one thing or the other which tied them to bitcoin and just as you can see the positive change ongoing even though it has not achieved where it should be but there's every indications bitcoin is making some positive moves starting from the bitcoin statistic that shows long term as holders now get to the range of about 85%
January 14, 2023, 02:50:17 PM
Miss Salvador cannot cause the price of Bitcoin to skyrocket, Bitcoin is not controlled by anyone. Wearing Bitcoin-themed clothing is an opportunity to spread the word about Bitcoin, contributing to widespread adoption.
This didn't contribute to widespread adoption. El Salvador contributed to widespread adoption when they adopted BTC as a legal tender in their country, things like that is what contributes greatly to BTC's mass adoption, and not a costume, so many people have shirts with the BTC logo inscribed on it, or vehicles, motocycles, bicycles, etc, with a BTC sticker on it, doing that can get one or two people interested when they see it and if they become curious, but for it to start a spike in price or mass adoption is not possible. 
January 14, 2023, 01:12:37 PM
OP: I saw that news but it's not even close to relating it to the price rise... but! it all adds up to the process of channeling ideas around bitcoin.
That the "Miss Universe" organization would have allowed it is in itself a positive process, knowing that there are so few spaces that can give exposure to bitcoin as it international event is.
In any case, perhaps the repercussion is very specific, but if the "Miss El Salvador" will win (it is unlikely), its impact newscast would be greater, but even that would not have an immediate effect (price), but it would be beneficial in the dissemination process.
I think that in this effect of diffusing, if that's the case, I would have to think if, for example, Shakira had said: "You changed 1 BTC for $1"
That the "Miss Universe" organization would have allowed it is in itself a positive process, knowing that there are so few spaces that can give exposure to bitcoin as it international event is.
In any case, perhaps the repercussion is very specific, but if the "Miss El Salvador" will win (it is unlikely), its impact newscast would be greater, but even that would not have an immediate effect (price), but it would be beneficial in the dissemination process.
I think that in this effect of diffusing, if that's the case, I would have to think if, for example, Shakira had said: "You changed 1 BTC for $1"
January 14, 2023, 01:08:05 PM
I am coming to know this today and I’m sure there might be millions of people who does not even know if such event ever happened. I highly doubt that such news is responsible for the price hike of bitcoin. We have entered into new year and last year’s agenda is now long gone. Bitcoin already had discounted rates and whales already bought all they could. Miss El Salvador is doing good job with such stunt and it might be affecting the local community a lot. Good job though.
January 14, 2023, 12:35:08 PM
Ill tell you what. Whales made the price spike, that's what it is. Nah, mate. the reasoning behind it is that we now have confirmation of a new accumulation phase and this may be an indicator that we have already gone through half of the bear market period. Bulls seem to be holding and getting some ground, so unless we see a big dump that breaks the previous low support, there will be a lot of space to see the market growing or at the very least holding its ground.
January 14, 2023, 11:16:23 AM
Whether El Salvador wins the competition or not, the country keeps working on all possible ways to give awareness to the world. The Miss Universe competition is the real resemblance of El Salvador, because they've taken the step forward and working on it without expecting the results. The price rise over the two days will make people praise the decision of El Salvador buying bitcoin at the lowest price of recent months.
Even if they will lose, this country will still remain as a winner in our hearts because they fearlessly showcase Bitcoin on a kind of prestige event like miss universe. They could represent other things. A thing that truly makes them remarkable as a country. There must be one other than Bitcoin or before they made Bitcoin a legal tender but we are glad that they take a risk and choose BTC this time. Winning may not be their priority anymore and they won't care if what other countries or people think about them after this.Haven't seen or heard any positive news other than this one so this might be the reason of the immediate increase on the BTC's value. It looks like we will be having an early bull run here. This is great and thanks to El Salvador for making this possible.
January 14, 2023, 07:07:29 AM
The impact of this event is not on bitcoin as per say because miss world is not a big enough event to trigger Bitcoin price, but what we deduce from this custom by the El Salvador miss world representative is.
Promotion of bitcoin adoption in her home country and how the global world can see the new decisions of El Salvador in bitcoin adoption through their promotions.
And since El Salvador is the first country to adopt bitcoin as legal tender it's best the push it to the frontline so that the world can see how persistent there are toward their Bitcoin policy.
I quite agree with your thinking. Looking at the way she presented Bitcoin using the Miss World avenue is to me a pragmatic political approach; more like using one stone to kill two birds. Given, her approach was not the actual cause of the price spike, but it's a tentative move by Nayib to somehow make the news again after passing a legislation for Bitcoin backed volcano bonds not too long ago. Promotion of bitcoin adoption in her home country and how the global world can see the new decisions of El Salvador in bitcoin adoption through their promotions.
And since El Salvador is the first country to adopt bitcoin as legal tender it's best the push it to the frontline so that the world can see how persistent there are toward their Bitcoin policy.
January 14, 2023, 06:12:22 AM
I do not think that price jumped because of this, because I do not believe that not even that many people watch this, it never really felt that way at all. But at the same time, we have to say that it's an important thing and it does definitely bring a lot more eyes on bitcoin, a good thing for sure.
Something doesn't have to increase the price a lot to be a good thing for bitcoin, there are some things in the world that doesn't increase the price but still good for the long term of bitcoin and that is why I believe that we should be investing a lot more to those type of things, to make it more known and help in the long run, build some sort of strong foundation.
Something doesn't have to increase the price a lot to be a good thing for bitcoin, there are some things in the world that doesn't increase the price but still good for the long term of bitcoin and that is why I believe that we should be investing a lot more to those type of things, to make it more known and help in the long run, build some sort of strong foundation.
January 14, 2023, 01:12:07 AM
Miss Salvador cannot cause the price of Bitcoin to skyrocket, Bitcoin is not controlled by anyone. Wearing Bitcoin-themed clothing is an opportunity to spread the word about Bitcoin, contributing to widespread adoption.
January 14, 2023, 12:40:22 AM
Bitcoin price is going up and people are starting to find out what causes this, but whatever it is, I believe with this little news it will not be possible to make bitcoin so strong. Even if El Salvador announced that they bought more bitcoins it wouldn't be big enough to make the price of bitcoin go up let alone this little news.
January 14, 2023, 12:12:59 AM
Besides, you are forgetting that it was not "$1000 in last 12 hours", it has been $2600 or 15% rise in the past 10 days. In other words this is an upward trend that has nothing to do with such small news like this but rather a market reversal that may or may not be temporary (depends on whether it breaks $20k or not).
I appreciate the correction; based on my research into the most recent Bitcoin price, there is no doubt that this is an upward trend. I must admit that the show has little to do with the reason why BTC is pumping. I think that the FTX crash and the impending Bitcoin halving are major factors in the recent increase in the price of bitcoin.
January 13, 2023, 10:46:27 PM
I didn't know about this news till you brought it here for discussion and I assume majority of bitcoiners did not know as well, without enough publicity, it does not have enough influence to move the price significantly. There are lots of factors going into the current uptrend in the Bitcoin market.
• Bitcoin halving is over a year away, I don't imagine that's influencing anyone's trading decisions at this point in time.
I must admit that the show has little to do with the reason why BTC is pumping. I think that the FTX crash and the impending Bitcoin halving are major factors in the recent increase in the price of bitcoin.
• FTX saga could only have slowed down price growth for a time and the market is not recovering from it.• Bitcoin halving is over a year away, I don't imagine that's influencing anyone's trading decisions at this point in time.
January 13, 2023, 10:26:04 PM
Besides, you are forgetting that it was not "$1000 in last 12 hours", it has been $2600 or 15% rise in the past 10 days. In other words this is an upward trend that has nothing to do with such small news like this but rather a market reversal that may or may not be temporary (depends on whether it breaks $20k or not).
I appreciate the correction; based on my research into the most recent Bitcoin price, there is no doubt that this is an upward trend. I must admit that the show has little to do with the reason why BTC is pumping. I think that the FTX crash and the impending Bitcoin halving are major factors in the recent increase in the price of bitcoin.
Source
Maybe you are not wrong too. Since there's an existing rally, any positive publicity for Bitcoin is always amplified to make crypto investors become bullish again. Bitcoin shorts are now being salvaged by hitting those liquidations. This kind of movement is impulsed which always ends up to a sever dip once there's no follow-up and no clear info on what's really going on because one of the real reasons why this kind of really happens is when retail traders ride the hype started by the whales. Everything will change once the rally didn't sustain since whales will surely gonna exit and leave retail traders high and dry once again.
January 13, 2023, 10:18:42 PM
I am very impressed with El Salvador as they are trying to promote bitcoin everywhere and the idea of bitcoin costume is really groundbreaking. Although they are facing a lot of criticism from western countries they still haven't given up on their goal, I really hope they will succeed when bitcoin recovers.
But I don't think this has had a positive effect on the recent bitcoin price increase, it can be said that bitcoin is having a positive impact on the economy of El Salvador, but they can't influence the bitcoin price, they are too small a country to be able to influence the market.
But I don't think this has had a positive effect on the recent bitcoin price increase, it can be said that bitcoin is having a positive impact on the economy of El Salvador, but they can't influence the bitcoin price, they are too small a country to be able to influence the market.
January 13, 2023, 09:57:49 PM
No, I don't think so, maybe she just raised awareness again when she wore that gown with BTC logo on it. I think the main reason is the CPI report that has been very positive. And so this optimism spill over to crypto and other traditional market which is always the case. Few months back with the CPI report is negative the price is affected that big.
But we have to thank Ms El Salvador for the beautiful gown capping with the Bitcoin Logo.
But we have to thank Ms El Salvador for the beautiful gown capping with the Bitcoin Logo.
January 13, 2023, 09:16:43 PM
Besides, you are forgetting that it was not "$1000 in last 12 hours", it has been $2600 or 15% rise in the past 10 days. In other words this is an upward trend that has nothing to do with such small news like this but rather a market reversal that may or may not be temporary (depends on whether it breaks $20k or not).
Edited. I appreciate the correction; based on my research into the most recent Bitcoin price, there is no doubt that this is an upward trend. I must admit that the show has little to do with the reason why BTC is pumping. I think that the FTX crash and the impending Bitcoin halving are major factors in the recent increase in the price of bitcoin.Source
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