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

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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.

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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.

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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

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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.

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

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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?

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.

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Quote from: Slow death on January 13, 2023, 05:17:46 PM

Quote from: mk4 on January 13, 2023, 02:03:29 AM

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.

Ryu_Ar1

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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.

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Quote from: Poker Player on January 12, 2023, 11:20:17 PM

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.

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.

Mans literally just stated what seems to be the most probable cause for bitcoin's rise in value last night. But as you have said, a price recovery is already due within this year, just so happened that it coincided with Miss Universe and Miss El Salvador's costume showcase, although honestly speaking the price rise could also be attributed to the showcase, as it literally promoted bitcoin in one of the most prestigious beauty pageant in the world. Then again I really do think it's just bitcoin riding the same trend in valuation as with other stores of value rather than a measly showcase in a pageant.

Doan9269

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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%

Z-tight

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Quote from: Sokoloau on January 14, 2023, 02:12:07 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.

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.

famososMuertos

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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" Cool

so98nn

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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.

Blawpaw

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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.

SirLancelot

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Quote from: romero121 on January 13, 2023, 07:36:20 PM

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.

Majestic-milf

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Quote from: Piesel on January 13, 2023, 05:11:40 PM

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.

el kaka22

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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.

Sokoloau

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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.

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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.

pooya87

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Quote from: autumnleaf on January 13, 2023, 10:16:43 PM

Quote from: pooya87 on January 13, 2023, 12:35:41 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.

You should keep in mind that the market is more complicated than this, it is not just affected by a single news. Even the case of FTX was not the only reason causing the crash that we saw past month. There are a lot of things going on for example the severe problems that the global economy is facing that has also affected bitcoin price, then something like FTX scam happens on top of it and it acts like a catalyst.

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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.

Quote from: autumnleaf on January 13, 2023, 10:16:43 PM

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.

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Quote from: autumnleaf on January 13, 2023, 10:16:43 PM

Quote from: pooya87 on January 13, 2023, 12:35:41 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.

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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.

laurenB7742

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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.

Kemarit

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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.

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Quote from: pooya87 on January 13, 2023, 12:35:41 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).

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

romero121

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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.

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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? We have gained $1,000 over the last 12 hours.

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.

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If it's so, the effect is still there - I can witness some nice upwards price action right now - we're attacking $20k at the moment. If we'll breach $20k the future ahead is bright - fair chance to reach $40-50k this year and new ATH after the halving next year. Cool

trendcoin

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I don't know if Miss El Salvador has raised the price of Bitcoin, but I'm sure she has raised other things. :) I always have the same opinion on such matters. Bitcoin will surely complete its mass adoption one day. It doesn't need anything. It will certainly achieve this thanks to its own characteristics. I have no doubt about it. However, I would always like to thank the people who contributed to the mass adoption of Bitcoin. Therefore, I thank Miss El Salvador for the things she has raised in me. :)

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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? We have gained $1,000 over the last 12 hours.

No, Miss Universe competition never affected price of any assets in the world, including Bitcoin, but it sure did look cool to see her carry Bitcoin symbol.
I know lot of people received new El Salvador residence after they decided to make Bitcoin legal tender, but in reality Bitcoin adoption in that country is not that great.

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Quote from: mk4 on January 13, 2023, 02:03:29 AM

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

forcing a miss to wear bitcoin clothing was a huge exaggeration, even if someone told me that she wasn't forced I wouldn't believe it, that's because it doesn't seem to me that she is such a fan of bitcoin to the point of wearing that bitcoin outfit, definitely it was not a good attitude

serjent05

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I do not think that Miss El Salvador carrying a huge staff with a Bitcoin sign, makes the price of Bitcoin spike. It is more or less the release of the CPI report has something to do with it.

Bitcoin signage and promotion had been happening over the course of Bitcoin, and it is proven that even though it increases adoption, it does not create a spike in demand of Bitcoin. It has something to do with the overtime product increase, slowly increasing demand for Bitcoin that produces price increase slowly over the span of time and not this kind of spike we experience today.

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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.

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El Salvador keeps pushing the adoption and the usage of bitcoin. The country have been making use of each and every opportunity to spread something about bitcoin. Happy they used the Miss Universe stage to show bitcoin. The designer have done it in a good way. Now users who came across bitcoin usage will give a try, if not they'll atleast know the existence of bitcoin

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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.

Yep, I believe that she just only shows that El Salvador has its own pride I mean among all other nations they are the first country who adopted it, maybe yes she promotes it as well or maybe she just shows when you say bitcoin one of the things you will remember is El Salvador. The price of the bitcoin maybe affected because we slowly recovering our market now? or it is just another fake bullish.

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Oh wow, I would've missed this news without this thread, thanks! I don't follow pageants of any levels, but Miss Universe allegedly has 500 million viewers (according to Wikipedia), which is huge if even a part of this audience saw El Salvador's candidate with a giant Bitcoin. I don't know if that's the reason behind the jump, but it could be. In any case, it's a huge promo of Bitcoin for a potentially very fresh audience. I mean, it's not some tech event where most have already heard of Bitcoin before, and I don't think there's a big cross-section between the crypto community and beauty pageant audience, which opens a possibility of wider adoption.

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Actually its a message. She is carrying the now defunct fiat on her back, representing the past, and even older than that cacao/cocoa which was a unit of monetary value at points in history. She carries Bitcoin with her hand, perhaps signaling the country's adoption and spreading the message.

So its like someone sponsoring a sports team and stamping a Bitcoin logo in their shirts. It may not be "adoption" but it is promotion and public awareness. Maybe it was Bukele's idea? Who knows, but it is great in my opinion. There are people watching who have not even asked what this Bitcoin is let alone learn that a country adopted it as legal tender (which was said by the announcer).

hd49728 Venezuela has no relation, it has the worst fiat of the world, and also the first and failed cbdc (Which was/is a State scam token), their leaderships cannot be worse compared. One puts an end to criminals while the other protects them. And there was some major scandal about Miss Venezuela that dissolved the organization locally or changed hands sometime ago so who knows how that ended (the old fashioned sex for favors).

8rch7

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Excited outfit from Miss Universe Alejandra Guajardo by wearing Bitcoin, I don't think how smart his ideas when publishing about Bitcoin trough Miss Universe award. Many people will interested based on Miss Universe is popular edition around the world and million people watching outfit from El Savador Miss Universe.

I think with Miss Universe is the best place for advertising or promoting Bitcoin to many people around the world and have different culture, due El Savador adopted and legalizing with Bitcoin transaction, seems smart ideas with their Miss Universe Alejandra Guajardo wearing Bitcoin outfit.

raybucks

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I think price spiked because inflation numbers are going down
It's difficult to find what causes spikes in btc price because when we try to find we discover too many events and get confused
so don't waste your time to find what does price spikes ,

sunsilk

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There is nothing to do with Miss Universe, with her and with her outfit. It was just a complete coincidence that the market has pumped during his ramp with that gown having bitcoin as logo.

But many for sure have appreciated the effort of what Miss El Salvador and her team has did with the outfit. For sure that Bukele has suggested that to the panel and for the team that handles her.

Well, with the surge, it was just all about the normal cycle and nothing other than that.

stompix

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Quote from: Woodrose on January 13, 2023, 02:24:53 AM

Well, I think the Consumer Price Index news released yesterday triggered the market. It went 6.5% from 7.1% last November.

That's actually what caused the price rally, it started with the first numbers that pointed at inflation numbers going down and at the rumors the FED will stop hiking rates that aggressively and even stop it altogether by late autumn, the bumps coincide perfectly, always with the data release, every single time there was a swing in price depending on the news, be it bad or good.

The whole Miss Salvador won't move the markets one point, the recovery of 5 billion at least from FTX was far better news than everything e had lately.

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Quote from: autumnleaf

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?

No, miss El Salvador cannot cause the price of Bitcoin to pump because, Bitcoin is a decentralized currency that is not control by Mr or miss in any country of the world, Despite, El Salvador is the first country that made Bitcoin legalized doesn't mean they have the power to control the price of Bitcoin or cryptocurrency in the country. I guess the price of Bitcoin and cryptocurrency just decided to pump in this period of Miss El Salvador celebration in the country.

Woodie

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Depending on the audience and the numbers that were able to catch a glimpse of this program

its very much possible, and I like how the costume was well represented!

Quote from: bittraffic on January 13, 2023, 02:41:55 AM

She didn't cause the pump but certainly, she promoted Bitcoin.
The inflation data reported recently made the pump of BTC says analysts so there must be truth to it. But she did a good timing for doing this while BTC is going up.

It is possible that both happened coincidentally and if it's the promotional side.. the effects will echo over for sometime.

Besides the world of bitcoin needs all kinds of marketing however small the stage its a win for us all,thank you El Salvador for doing it again.

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

<…>

Certainly not. All it caused is for the crypto related media to take the image out for a spin and splash a bit of accompanying text, and for bitcoin haters to have an excuse to fill the social networks with criticisms towards the dress used in the National Costume catwalk (though representing history of the country, is not typical in the traditional sense though).

In light of the criticisms, dress designer had to step forward to defend the idea, claiming it was based on history, with no political claims.

bittraffic

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She didn't cause the pump but certainly, she promoted Bitcoin.
The inflation data reported recently made the pump of BTC says analysts so there must be truth to it. But she did a good timing for doing this while BTC is going up.

They really tell the world that they are the first to have adopted BTC as a legal tender and made BTC part of their culture as this is supposed to be a cultural dress-up.

davis196

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I guess that Bitcoin adoption is the only thing El Salvador is famous for. That's why Miss El Salvador is holding a Bitcoin sign.
However, this has nothing to do with the BTC price. It's like saying that Bitcoin price went up because today is Friday the 13th. Grin

We can see some small price pumps on the Bitcoin charts, which means that Bitcoin is still alive and kicking and the crypto winter might have a few small bull waves here and there. Anyway, FUD news are coming from the big crypto company Nexo being accused for money laundering, terrorist funding and operating without a license in the USA. Maybe this FUD will cause another short term BTC price drop.
Will Nexo become the new FTX? We will have to wait and see.

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

Snip

Nope, Lots of firms and celebrities are promiting bitcoin but it doesn't cause a macro movement to the price. Not unless Elon Musk will buy bitcoins and I think that's a different story.

Well, I think the Consumer Price Index news released yesterday triggered the market. It went 6.5% from 7.1% last November. This is the highest BTC price since it dropped last November due to FTX news.

Well, let's see if it will break the 19.1k line and experience some major restest to enter the mini bull run this 2023.

Reference :
https://qcp.capital/market-updates/market-update-cpi-preview-12-jan-2023/

yazher

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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.

mk4

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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!".

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Well, as we know.... Bitcoin's price are not just determined by 1 event... but a combination of events in a global context. Yes, a lot of the people watching from El Salvador must have seen that and it might have sparked some marketing affect, but it is insignificant in a global context.

I think we are in a slow recovery phase, after all the spending happening over the Holiday season ....and people are returning from their holiday and trading again as usual. (They made profits during the year..... rewarded themselves with a good holiday.. and now they are back at it again.... working to save up for the next holiday) Roll Eyes

pooya87

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I doubt that fat guys in their underpants watching Miss Whatever have enough money or even care enough to buy bitcoin, enough to cause a price rise Wink

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).

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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.

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.

hd49728

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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.

autumnleaf

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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?

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.

Source

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