News influence the price of every market not only in the cryptocurrency market but the price effect dont always start from Bitcoin to altcoin, we have altcoin season where market price will only affect within the altcoin market circle while Bitcoin will be left out.
About Elon, he seems to have lost his tweet power ever since the last statement he makes about Bitcoin.
Topic: My cryptocurrency experience - page 2. (Read 225 times)
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The spreading of the news affects the influence of crypto with its investors massively. As they hear a news with regards to a probable downfall of a certain coin, they will right away make an act on how they can take advantage of that situation or find a way to avoid massive loss. Even though not all the news are legitimate, it is still somehow useful specially those that gives honest and genuine speculations which you can use as a guide on what you should do next. Still, be careful on what you are believing in, find more supporting details before agreeing.
Even though the news are not legitimate but still it may cause panic to those people who have weaker mind and regret making their decisions that time which will become advantage to other people who believe that a certain coin will not decrease where they will buy the coin that the weak ones selling
The spreading of the news affects the influence of crypto with its investors massively. As they hear a news with regards to a probable downfall of a certain coin, they will right away make an act on how they can take advantage of that situation or find a way to avoid massive loss. Even though not all the news are legitimate, it is still somehow useful specially those that gives honest and genuine speculations which you can use as a guide on what you should do next. Still, be careful on what you are believing in, find more supporting details before agreeing.
I think you kinda summed it up but it's generally news when nothing is happening or when stuff starts looking a bit different.
The current crash started because a local new high also couldn't be broken for a while, the news likely just added stress on top of the decisions people were making about the market.
The price levels are predominantly controlled by retail too as a lot of larger traders will be getting coins otc and may not be influencing the market much by their volume.
The current crash started because a local new high also couldn't be broken for a while, the news likely just added stress on top of the decisions people were making about the market.
The price levels are predominantly controlled by retail too as a lot of larger traders will be getting coins otc and may not be influencing the market much by their volume.
News pretty much affects ALL markets. The size of effect just varies, and it effects the cryptocurrencies far more simply because a huge chunk of the money is from retail investors— whereas retail investors can definitely be too overly influenced by news. You'd think bitcoin and crypto investors would've been really used to the typical FUD news by now, but nope.
This is what I notice in the little time I have been here.
Apart from few months after halving, I have noticed that news is one important factor that will increase or decrease the price of bitcoin. And when price affect bitcoin, it gradually affects altcoins and you see red all the places. For example, when the recent deep happened, all altcoins also went down.
I realize also that at every bull or bear, the market is waiting for a news to change the direction. Like such news from Elon musk is capable to do that and now I realize the power of such influence on the market. The fud gradually caused huge dump because it created panic, though price is recovering as bitcoin is appreciating.
Also that anytime that there is adoption news by influencial personality or institution, price increase because it means more investors would leverage on that. I remember this when PayPal announced the use of 4 cryptocurrency including bitcoin, it gave an increase in price and that pushed for the current ATH.
My conclusion therefore is to take note of these factors as they have shown to be indicators of direction of where price may move to.
Apart from few months after halving, I have noticed that news is one important factor that will increase or decrease the price of bitcoin. And when price affect bitcoin, it gradually affects altcoins and you see red all the places. For example, when the recent deep happened, all altcoins also went down.
I realize also that at every bull or bear, the market is waiting for a news to change the direction. Like such news from Elon musk is capable to do that and now I realize the power of such influence on the market. The fud gradually caused huge dump because it created panic, though price is recovering as bitcoin is appreciating.
Also that anytime that there is adoption news by influencial personality or institution, price increase because it means more investors would leverage on that. I remember this when PayPal announced the use of 4 cryptocurrency including bitcoin, it gave an increase in price and that pushed for the current ATH.
My conclusion therefore is to take note of these factors as they have shown to be indicators of direction of where price may move to.
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