Small dip in BTC price after Trump stimulus tweet - page 2.

exstasie

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Just to review, prices (both BTC and stocks) have been strongly trending upwards since this tweet:

A reminder not to focus too much on intraday price action. Wink

Trump is actually waffling, blaming Pelosi and even his Treasury Secretary for not getting a stimulus bill passed. The biggest holdup appears to be Senate Republicans, namely Mitch McConnell. Trump wants stimulus checks, McConnell doesn't.
https://www.cnbc.com/2020/10/15/mnuchin-says-hell-give-ground-on-virus-testing-in-stimulus-negotiations-with-pelosi.html
https://www.newsweek.com/mcconnell-remains-stuck-mini-stimulus-that-excludes-checks-trump-democrats-inch-toward-deal-1539548

traderethereum

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To be honest, I do not think too much about the small dip in bitcoin in these few days because I feel that the bitcoin price will be back to the high price.
Even if the bitcoin price is down near $11k, it will bounce up to the high price. And it is proved that now the bitcoin price can back to the $11,400.
Bitcoin price now seems to have a fast move because the order buys and order sells change differently than a few days ago. So we have a chance to see the increases in this weekend or next week.
I hope that the price will still go up and break $11,500 because that price will be difficult to break for now.
But I still prepare myself, just in case the price is down because of the flash dump that can happen to the market. I am sure that people will take their profit because of this increase.

Reid

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Quote from: maxreish on October 14, 2020, 08:12:28 PM

Nah, there's other reason behind that bitcoin small dip. Not all of Trump's tweet will have am impact with bitcoin's flow of price. I will believe of this cause of spike was that of the pandemic or the movement or selling of companies who owns many bitcoins. But just as thst of the tweet? I don't think so.

I have the same thought.
It might have a little though but not everything.
Trump always had that impact with investors. They are following him. Heck, they would even fund him to win. Not that he needs it. Grin

It might just be a coincidence that a fall will suddenly happen.
Besides, he uses Twitter too much. Does that mean everything he says will connect to the financial industry?

CryptopreneurBrainboss

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Quote from: Lordhermes on October 14, 2020, 03:35:04 PM

I don't think trump tweet is really making the price of bitcoin falling drastically, the price just dropped from $10700-10550, with just a falling percentage of about 1.42% that's just a little falling difference that wouldn't bring huge loss on traders,

Trump's tweets had sometimes in the past had its impact on the price of bitcoin as whales wait to feeds on the energy the tweets possess either to dump on the market and drive it price downward or pump as a result of FOMO been the emotions of the day. The scenario here though wasn't the case as there was no fud in the market caused by the tweet rather it was just a mere genuine market correction. No crypto news media reported on the tweet and if they did it didn't trend, which is one of the easy qays to identify when trump's tweets are likely going to influence the market.

In regards to your assumption of the traders not losing much, that ideology of false. Spot trading is just one of the many means of trading bitcoin. We have other options that possess more risk and greater rewards like margins and future trading. We had users that were longing bitcoin when they declined in price occured they most have been rekted seriously.

They could have had their margin set at 3x to 19x and above which means they'll be lossing triple or 15 times more if the market was to go against their trade which did happen assuming they were longing (buying) when this crash happened.

maxreish

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Nah, there's other reason behind that bitcoin small dip. Not all of Trump's tweet will have am impact with bitcoin's flow of price. I will believe of this cause of spike was that of the pandemic or the movement or selling of companies who owns many bitcoins. But just as thst of the tweet? I don't think so.

Lordhermes

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I don't think trump tweet is really making the price of bitcoin falling drastically, the price just dropped from $10700-10550, with just a falling percentage of about 1.42% that's just a little falling difference that wouldn't bring huge loss on traders,
The recent spike in bitcoin to $11500 is because of the total number of bitcoin purchased by twitter owner $150M worth of btc. Had anybody really think about this?

exstasie

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Quote from: beerlover on October 14, 2020, 01:05:11 PM

Funny thing is, dude doesn't want the stimulus check until the election is over but he wants to elect the new SCOTUS so that the court would be packed.

This way, he comes into the election and/or leaves office as a conservative hero. He can guarantee a conservative replacement for Ginsburg, and act like he's tough on spending. I get it.

Quote from: beerlover on October 14, 2020, 01:05:11 PM

And stimulus check? Not giving it to people right now is basically a way of saying "Biden won't, but I will if you elect me, otherwise you are screwed" and nothing else, dude is a major idiot, Biden would do it in a heartbeat with ton more money to people who need it.

Oddly enough, the Biden campaign has refused to say one way or the other regarding a second round of stimulus checks. They keep saying they'll review the situation in January. His plan does include upping Social Security and unemployment benefits though, and I'm sure any Democrat plan would spend much more than a Republican one.

That's the interesting question to me about a Biden presidency. It means more federal spending and more financial relief for citizens and taxpayers, but it also means less business friendly policies and probably a rollback of the Trump tax cuts. That's a tricky combination and I wonder how the markets are going to interpret it.

beerlover

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Funny thing is, dude doesn't want the stimulus check until the election is over but he wants to elect the new SCOTUS so that the court would be packed. Dude probably doesn't even care about it, considering in either 1 month or in 4 years dude would be out and since he is a known huge narsisistic person he doesn't care about if scotus is filled with conservative judges or liberal judges, that is not something he cares about, he doesn't see the world republican vs democrat like many politicians do, he sees it me vs them and the moment his job is done dude would probably be fine with filled liberal scotus seats as long as he is not bothered.

And stimulus check? Not giving it to people right now is basically a way of saying "Biden won't, but I will if you elect me, otherwise you are screwed" and nothing else, dude is a major idiot, Biden would do it in a heartbeat with ton more money to people who need it.

Harlot

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Quote from: whyrqa on October 13, 2020, 08:16:36 AM

I believe that Donald Trump deliberately makes such statements because he expects a negative impact from his statements on the cryptocurrency market. His main opponent Joe Biden is very active in using cryptocurrency in his political activities, which is aimed not only at receiving dividends, but also at black PR against Trump. Although he does not own any cryptocurrency. Of course, this activity is not advertised, but there is a lot of information about this on the net. I believe that in this way Trump decided to disrupt the financing of his competitor Biden.

IMO the connection doesn't go run deeper to be at this point, I mean we are talking about Donald Trump here who has been judged for several of his statements in the past so this tweet about rejecting another round of stimulus payments isn't really about cryptocurrencies at all. I don't even think that he is thinking about cryptocurrencies when typing about that tweet. Aside from that you will see that other markets are affected as well so maybe the real reason here is after they got a confirmation of another stimulus payment not going to happen people who really need the money are liquidating their assets and that is what that triggers the sell off in majority of the markets.

7788bitcoin

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Quote from: DeathAngel on October 13, 2020, 01:02:45 PM

I’m not sure the end of 2020 will be so strong that we’ll see $30,000 or similar but 2021 will be a big breakout year. I think we’ll see over $100,000 by the end of 2021.

I will be surprised to the core if we could reach the all time high valuation by the end of this year let alone a sixty percent increase from the current valuation Cheesy

. You are predicting that the price of bitcoin will cross $100,000 by the end of 2021 which is 88 percentage from the current valuation and even if that happens which is an impossible task i will be more worried about the transaction charges which nullifies everything as no one in the right sense will be spending $30 per transaction Cheesy

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DeathAngel

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Quote from: daarul50 on October 08, 2020, 06:00:55 PM

No more swing.
This gonna be a turn up point where the next achievement is $100k as we have waited for too long since our last skyrocketing moment in 2017-2018.
Let's end the terrible 2020 with a $30k breakout and seeing 2021 as another year for bitcoin to hit all time high multiple times.
Cannot see any other rejection at $12k or $15k , this time shall pass.

I’m not sure the end of 2020 will be so strong that we’ll see $30,000 or similar but 2021 will be a big breakout year. I think we’ll see over $100,000 by the end of 2021.

Silberman

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Quote from: tomahawk9 on October 06, 2020, 02:18:25 PM

To those wondering why the BTC price went down a bit today, here's the reason:

https://twitter.com/realDonaldTrump/status/1313551794623127552 (Click to read the thread)

a few minutes later, BTC price went down:

same behaviour in the stock market:

Source: https://finance.yahoo.com/

thoughts?

I do not see the correlation between those events, people in my opinion put too much attention to the news to try to explain what is happening when the most simple explanation is that there was a drop in the demand which created a small dip on the price and then a few days later the market of cryptocurrencies recovered, it is precisely because of the difficulty of trying to guess which news has an effect on the market and which does not that I left that kind of trading behind and now I only care about what it is happening on the charts.

whyrqa

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I believe that Donald Trump deliberately makes such statements because he expects a negative impact from his statements on the cryptocurrency market. His main opponent Joe Biden is very active in using cryptocurrency in his political activities, which is aimed not only at receiving dividends, but also at black PR against Trump. Although he does not own any cryptocurrency. Of course, this activity is not advertised, but there is a lot of information about this on the net. I believe that in this way Trump decided to disrupt the financing of his competitor Biden.

dunfida

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Quote from: dimonstration on October 08, 2020, 06:17:57 PM

Quote from: btc_angela on October 06, 2020, 06:46:04 PM

It's because Trump is going is rejecting the $2.4 trillion for a bailout proposal of Nancy Pelosi. So investors take this negatively. The supposedly bailout not just includes stimulus package for Covid-19, so probably more for US companies. And since this rejection, investors lose fait again so traditional and crypto markets reacted by dumping. And for crypto markets, time for whales to manipulate this news in their favour to create a dump, and then buy it back when the price is cheap again.

Bitcoin didn't affect that much in any news before that where made by government like in stock market unless it includes rejecting or banning BTC in their country or provides specific rules for it, but now since many were shifted in crypto it tends to be affected too much by anything that is happening in crypto as whales were playing it the way like how they do it in stock market. Before prices were affected by crypto news related and adoption purposes, now it have a also have a ripple effect in every government issue or any issue that is popular even its not much related in crypto.

Im not seeing such scenario and its already been a decade but we cant really tell that it would really have a precise effect into the cryptocurrency market.
There might be some price movement but we cant point out fingers if those are the effects on the current events that been happening in politics.Well, it might really have
that possibility but all of those are just presumptions because there are traders or investors do really make use of fundamentals or news when it comes to their decisions
into their crypto investment but overall its still an unsure thing for us to rely on everytime there are events like this. Small dip or Big dip will neither have reasons
or nothing at all.

dimonstration

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Quote from: btc_angela on October 06, 2020, 06:46:04 PM

It's because Trump is going is rejecting the $2.4 trillion for a bailout proposal of Nancy Pelosi. So investors take this negatively. The supposedly bailout not just includes stimulus package for Covid-19, so probably more for US companies. And since this rejection, investors lose fait again so traditional and crypto markets reacted by dumping. And for crypto markets, time for whales to manipulate this news in their favour to create a dump, and then buy it back when the price is cheap again.

Bitcoin didn't affect that much in any news before that where made by government like in stock market unless it includes rejecting or banning BTC in their country or provides specific rules for it, but now since many were shifted in crypto it tends to be affected too much by anything that is happening in crypto as whales were playing it the way like how they do it in stock market. Before prices were affected by crypto news related and adoption purposes, now it have a also have a ripple effect in every government issue or any issue that is popular even its not much related in crypto.

daarul50

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Quote from: STT on October 08, 2020, 05:23:24 PM

Thats just today back above weekly average and a trend, have to call BTC in a positive phase right now.

No more swing.
This gonna be a turn up point where the next achievement is $100k as we have waited for too long since our last skyrocketing moment in 2017-2018.
Let's end the terrible 2020 with a $30k breakout and seeing 2021 as another year for bitcoin to hit all time high multiple times.
Cannot see any other rejection at $12k or $15k , this time shall pass.

STT

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It dipped but this is an immediate reaction to negative sentiment, more reliable is a regular process up or down. Seems like price action has turned positive today, its beating something of a negative trend over the medium term and its done so on volume so going into the weekend its going something to build on and possibly gain.
The sell shown in the OP goes down to 10500 and roughly stays above, seems like that was some hint to a positive.

Thats just today back above weekly average and a trend, have to call BTC in a positive phase right now.

buwaytress

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And then today's even bigger spike in the other direction, and if I'm to believe it, this is because Dorsey plopped in another $50M on Bitcoin. How does that create a bigger wave than Trump's bad news I wonder?

Still, I'm not one to complain! 11k just as we enter 4th Quarter isn't so bad.

bitgolden

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The real trouble is not even 1.6 or 2.4 discussion, the real trouble is there is sooooo much money going towards companies and so little of it goes towards the people. There are families getting this stimulus check and that is a good thing government is doing this but about 10x of it also goes to companies, when you are giving 1 dollar to public (total) and giving 10 dollars to companies, you are not helping the public, you are just saving your capitalist friends.

In reality I feel like the best way to go would be giving 10 to people and 1 to companies so that those people could spend their money on these companies and if the companies are really needed and good ones, they could potentially get that 10 from people as they would be customers anyway, but if they don't, let them bankrupt.

exstasie

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Quote from: DeathAngel on October 06, 2020, 04:58:32 PM

Most likely whales trying to use this news to sell a load of coins in the hope weak hands & noobs panic & sell too.
Quite embarrassing behaviour if so, I don’t see why the market should care if Americans aren’t getting more free money imminently.

For the same reason the market cares about Fed cash injections.

Stimulus money directly affects supply and demand of investment assets. If you give investors free money, 2 things happen: they are less pressured to sell assets like stocks or BTC to pay the bills (less supply) and they may have extra disposable income now to invest in assets like stocks or BTC (more demand). Less supply and more demand = higher prices.

The market has been operating for months on the assumption that additional stimulus injections are coming. It was priced in. If stimulus is no longer going to happen, investors might price that in as well.

Topic: Small dip in BTC price after Trump stimulus tweet - page 2. (Read 604 times)