Topic: Price if Amazon Accepts Bitcoin (Read 2968 times)

The short term price will likely be unaffected when new companies start to accept bitcoin.

Over the longer term as more people start to use bitcoin the price will be positively impacted.

Yes. I really don't understand others that say that it isn't a big deal.
It sure is, and one should expect at least +200% in value if it was to happen.

In the short-term, the prices can jump by as much as 100%. But it will be followed by a significant correction. So I am expecting the pre-correction price of around $1,300 in the short-term. In the long term, the price will be $3,000 to $5,000, as more and more companies might follow suit.

Here's the thing, in the bitcoin world it doesn't matter how great some piece of news is.  If it comes out during a down trend, it can be the greatest news in the world, but will still have little to no effect on the price.  For example, if the news "Amazon now accepting bitcoin" came out in March, it would have had little effect to reverse the downtrend.

Now if that same news comes out in the next 3-4 weeks (and just so happened to be timed perfectly with the pre-bubble top) it would have a MAJOR upward effect on the price.  This happened in November with the Senate hearings giving bitcoin thumbs up.  I wouldn't be surprised if some more good news just so happens to come along in the next 3-4 weeks.

And of course, the next bubble pop will be timed with some really bad news out of left field (which someone is saving to deliver at just the right time), I can pretty much guarantee it.

This market is still just so sentiment driven because it's small, and the powers that be KNOW that.

I agree with everything you have written here, but for me the key sentence is 'It will legitimise bitcoin in the eyes of the masses'.

This.

We will return to this thread when it happens and laugh at the bears

Absolutely. Bitcoin is functioning wonderfully as a (volatile) store of value in exactly the way you would expect from a scarce commodity money.

What happens next is the increasing utility of bitcoin as a spendable currency with progressive integration into the internet as a form of payment. Amazon or paypal integrating bitcoin would be a massive confirmation move for the fledgeling currency, leading other firms to do likewise or get left behind by the savings bitcoin offers over conventional credit card payments. Discounts may be offered for using bitcoin as an incentive to online customer. Its sudden ubiquitous appearance all over the internet as a form of payment will also alter the public perception of bitcoin (largely driven by a negative mainstream media).

Companies like circle and coinbase, facebook integrating wallets etc, Winklevoss ETF's will all hopefully be coming online later this year. Just in time for the next (perhaps too) predictable upswing in bitcoin prices.

How anyone could think that the largest internet companies in the world taking bitcoin would not be massively bullish for both bitcoin and bitcoin prices is beyond me. It will legitimise bitcoin in the eyes of the masses and bring huge numbers of new potential users to the currency. What happens when people expect a huge number of new people trying to buy into a scarce commodity? The market front runs it. The price will probably go insane.

edit: this is when i expect wall street to get involved

If btc price shoots up within 24 hours of Amazon announcing they would accept bitcoin, how do you know for certain it was amazon that caused the price hike? If you do win the bet, how will you prove Amazon was the sole cause of price increase? Sure in the very long run, it could promote btc and make the general public more aware, hence increase the money supply in btc, but within 24 hours is too short, and this time frame is meaningless.

Yes an action like that can trigger a chain action that could pump bitcoin price very high, i mean, the first one overstock did well and dish too, but if a third one do that.. then it will be tens of them doing the same.

I don't understand those who say it wouldn't affect the price much, if at all. I think it would be one of the biggest triggers for a price spike that BTC has seen to date & as someone else said, it would almost certainly prompt others such as eBay to follow suit.

If this happens then Ebay/Paypal will jump on board so fast. The are semi bullish on btc already. Target would be 5000+ before a hard correction of 2500

Trial by combat

Completely agree - it would be of huge symbolic significance. A firm as big as Amazon giving legitimacy to BTC would be massive.

   

Finally some non-bears arrived to back me up 

TERA, could you give me one example where a market is not driven by accumulation/distribution of whales?

Now to answer OP, It would be a great news and could be a trigger to the next pike.
The more transaction, the more maket cap is growing. It s the structural bitcoin price. add that to gigantesc bubbles and you have the BTC price.

So my view is that it would affect the structural market cap but only be a trigger to the next bubble.

If amazon ann to accept bitcoins, the price will go up very fast to 1000.

Merchant adoption =/= increase in demand

The people already using Bitcoin will buy with Bitcoin.

The news and media attention might bring more interested parties, yes.

I don't think Amazon will affect it necessarily fast. More people would probably give Bitcoin a try, yes, but that doesn't mean all of them might buy into it. Or maybe a small group will. But it'll certainly fix Bitcoin in the eyes of the media, since we've had some pretty rocky situations. If the public follow the media, then yes, that could possibly raise the price. Not immediately, though, but the media is played into it with Amazon.

i'd move my short term target from 800 to 3000


Amazon Accepting Bitcoin would be a Huge deal.

Gotta disagree on that, I have other liquidity that I would happily put into Bitcoin if I thought the risk was worth it. Definitely not buying as much or as fast as I can yet. Why would you conclude that everyone is all in and leveraged to the eye balls at this point?