Why is Bitcoin always affected - page 5.

DanWalker

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Quote from: Sir Legend on March 21, 2023, 01:01:03 AM

Quote from: cryptoknightt on March 20, 2023, 11:37:27 PM

Because legal or not legal things in that country really affect what else, like the big country of the United States, it clearly really influences not only bitcoin but all of it, I think

Any policies carried out by big countries are of course very impactful, but we should be happy because the USA legalizes bitcoin and regulates cryptocurrencies, it is only natural that some of the top exchanges based in the USA get high trust from investors, and of course the US government sees that there are opportunities and benefits to be had by legalizing cryptocurrencies.

The United States is also just a country in the world, they do not have the right to control or dominate the whole world. I mean, if they don't legalize bitcoin, there is nothing to fear, bitcoin can survive and thrive without them. They need bitcoins, bitcoin doesn't need them, as long as there are other countries that accept bitcoins, it doesn't matter if the US legalizes bitcoins. Bitcoin is the technology of the future, if they don't accept it, they will become obsolete, being a power they have to understand that.

DoverDoane

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Quote from: hugeblack on March 16, 2023, 12:11:38 PM

The market capacity of Bitcoin is still small, which did not maintain one trillion for a while, while to reach stability, I think we need a market capacity between 5 trillion to 15 trillion, which means that we are still very early.
In order to reach that capacity, the demand must increase, which may take from 5 years to 30 years, which is sufficient time for this technology to mature or be replaced.

If you notice, the percentage of impact in recent years is much lower than the situation was several years ago.

I quite agree with this opinion, because Cryptocurrency currency is still relatively small in demand even though it looks so promising like bitcoint, even though there is a lot of news on the Internet that raises Crypto currency but in fact in real life there are not too many who follow and enter the Crypto world, so see from this point of view the growth of bitcoint will also always be influenced by many things from various aspects of the economy and policies, and the large demand for blockchain technology.

TheUltraElite

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Quote from: Mrbluntzy on March 16, 2023, 07:54:18 AM

I apologize if this is a dumb question but the fact is that I don't know why.

My question is, why is Bitcoin market always affected by all economics news, example is the issues with US bank like the SVB. Thank you

There is no concrete answer to this, we can only guess.

Bitcoin buyers/sellers are also investing in different sectors like stocks/commodities and they usually keep up with the news that breaks the internet. Hence an association of crypto with SVB and Silvergate made them think that crypto markets would drop after that news, I believe it was the reason for the dump, but you cannot confirm nor deny this because the proof will never be found. But this is usually how the market reacts to a news.

What was not expected is the rise in bitcoin price after this dump.

In general, you should not be bothered by news, your goal is to accumulate bitcoin at every dump, treat them as just some numbers, keep the emotions out.

Solosanz

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It mostly influenced by the market which is the people who hold Bitcoin, there are a lot news has no relation with Bitcoin, but people tend to think that's news are behind of Bitcoin price dump/pump. Some news like Bitcoin is banned in China, top centralized exchange going bankrupt, Bitcoin new development or feature are actually correct to say it will influence Bitcoin price. But news like Bitcoin isn't environmental friendly, Bitcoin is used to scam, money laundering etc are wrong.

superman184

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Quote from: cryptoknightt on March 20, 2023, 11:37:27 PM

Because legal or not legal things in that country really affect what else, like the big country of the United States, it clearly really influences not only bitcoin but all of it, I think

Not only can it be an influence for other countries and for the world, but it can also be a good example for other countries who already believe in cryptocurrencies and Bitcoin. And in terms of legalizing cryptocurrencies, especially Bitcoin, as was done by the state of El Salvador, of course, it is always necessary to keep the country's economy stable and undisturbed by the presence of cryptocurrencies and Bitcoin into society.

Quote from: Sir Legend on March 21, 2023, 01:01:03 AM

Any policies carried out by big countries are of course very impactful, but we should be happy because the USA legalizes bitcoin and regulates cryptocurrencies, it is only natural that some of the top exchanges based in the USA get high trust from investors, and of course the US government sees that there are opportunities and benefits to be had by legalizing cryptocurrencies.

Citizens in this part of America should be happy with the legality of cryptocurrency and Bitcoin there because they can be a little more free in using cryptocurrency and Bitcoin in their daily activities such as using it when shopping. But I still don't feel happy if other countries on the continent besides America still haven't legalized cryptocurrencies and Bitcoin because their use is still very limited for those outside the Americas.

naikturun

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Bitcoin, like any other asset, can be influenced by a variety of factors, including economic news and events.
In the case of the issues with US banks like SVB, it is possible that investors are concerned about potential regulatory action against Bitcoin or other cryptocurrencies, which could reduce demand and cause prices to fall. Additionally, if investors view Bitcoin as a hedge against inflation or a weak economy, they may be more likely to buy Bitcoin during times of economic uncertainty, which could drive up prices.

Rupok

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Bitcoin is the only coin that dominates the cryptocurrency world. So investors buy and sell based on market news events.SVB wants people to be concerned about exactly the same issues. Bitcoin has no fixed value, anything can affect its value.When the value of Bitcoin increases, the value of other coins also increases. Also, when the price of Bitcoin starts to decrease, so does the price of altcoins.As the price of Bitcoin is increasing now, it indicates that the market may rise again this year. When banks fail, panic spreads among people, and they tend to invest in alternative methods.

ringgo96

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Bitcoin is one of the digital currencies that is currently so popular among the public, so that a lot of economic news is currently very influential on the crypto world, especially Bitcoin, so in this case many large banks have relied on Bitcoin to be used by customers in investment so that the decline of Butcoin is always followed by current economic flows, So don't be surprised that the value of Bitcoin today has a major influence on the development of the crypto world.

Wildwest

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All currencies are very influential on economic development, of course this also includes bitcoin because bitcoin is a digital currency that is currently used throughout the world, but not all news can affect the value of bitcoin, because there are many other factors that affect the rise and fall of bitcoin prices, then in this case fiat currencies have become a threat with the existence of bitcoin so that some countries are starting to think bitcoin will be legal tender in addition to currency Fiat, and currently Bitcoin has become the largest investment so that any news related to the economy has a big impact on the value of Bitcoin.

EarnOnVictor

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Quote from: Mrbluntzy on March 16, 2023, 07:54:18 AM

I apologize if this is a dumb question but the fact is that I don't know why.

My question is, why is Bitcoin market always affected by all economics news, example is the issues with US bank like the SVB. Thank you

There is nothing to apologize about, we are learning every day.

You should know that Bitcoin is an asset, and it's a risk-on asset class. This means that Bitcoin is not in isolation, any news and events that affect any of the risk-on assets will surely affect Bitcoin. This is because it is paired with important currencies and assets like BTC/USD, BTC/EUR, BTC/GBP, BTC/Gold, BTC/OIL and others.

Many might not be shown by your exchanges and brokers, but are elsewhere. So, anything happening to the USD and many other currencies/assets paired with it will always be having effects on the coin.

slapper

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Quote from: SirLancelot on March 21, 2023, 12:11:23 AM

Quote from: AnonBitCoiner on March 19, 2023, 10:34:50 AM

Economics news have the greatest impact on the success of bitcoin. Good news is directly related to the enhancement of worth whereas its where as bad news are inversely related to its profits.

Bitcoin is very essential for achievements of goals and its value rise as the demand of people rises. So whenever the bad news arises so the people interest towards bitcoin decreases therefore it directly impacts its value.

So it's very simple logic that whenever news comes about bitcoin it's bad or good but it's effect on price will be greater.

They are just news. It may have some negative impact on Bitcoin's price but Bitcoin will always find its way for recovery. Even if there is no economic news, there is still volatility which will still affect the price of Bitcoin but this ain't affecting the success of Bitcoin either. In fact, it was one of the drivers to help Bitcoin succeed because many people are going to enter or buy more coins when the price is down.

We have different goals in life and it's not always about money or getting rich so no, Bitcoin is not very essential on achieving them. If you are a solid Bitcoiner, no bad news can affect your interest towards BTC but only newbies are the ones who worry and panic.

Your Bitcoin insights and its role in our lives are much appreciated! Indeed, not everyone needs Bitcoin for their objectives, but it undeniably serves up fantastic possibilities for those who find it intriguing!

As I see it, Bitcoin signifies much more than mere currency or speculative pursuit. It's a beacon of invention, independence, and challenging the status quo. It confronts age-old financial institutions and gives us a novel approach to considering currency and ownership.

Sir Legend

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Quote from: cryptoknightt on March 20, 2023, 11:37:27 PM

Because legal or not legal things in that country really affect what else, like the big country of the United States, it clearly really influences not only bitcoin but all of it, I think

Any policies carried out by big countries are of course very impactful, but we should be happy because the USA legalizes bitcoin and regulates cryptocurrencies, it is only natural that some of the top exchanges based in the USA get high trust from investors, and of course the US government sees that there are opportunities and benefits to be had by legalizing cryptocurrencies.

SirLancelot

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Quote from: AnonBitCoiner on March 19, 2023, 10:34:50 AM

Economics news have the greatest impact on the success of bitcoin. Good news is directly related to the enhancement of worth whereas its where as bad news are inversely related to its profits.

Bitcoin is very essential for achievements of goals and its value rise as the demand of people rises. So whenever the bad news arises so the people interest towards bitcoin decreases therefore it directly impacts its value.

So it's very simple logic that whenever news comes about bitcoin it's bad or good but it's effect on price will be greater.

They are just news. It may have some negative impact on Bitcoin's price but Bitcoin will always find its way for recovery. Even if there is no economic news, there is still volatility which will still affect the price of Bitcoin but this ain't affecting the success of Bitcoin either. In fact, it was one of the drivers to help Bitcoin succeed because many people are going to enter or buy more coins when the price is down.

We have different goals in life and it's not always about money or getting rich so no, Bitcoin is not very essential on achieving them. If you are a solid Bitcoiner, no bad news can affect your interest towards BTC but only newbies are the ones who worry and panic.

cryptoknightt

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Because legal or not legal things in that country really affect what else, like the big country of the United States, it clearly really influences not only bitcoin but all of it, I think

Lubang Bawah

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Bitcoin or other types of investment and high risk, of course, are very easily influenced by any news, even though they don't have fundamentals like stocks, of course, investor considerations are very detailed, including any news related to investment, for example, if there is a policy that prohibits bitcoin in a country, it will create panic. temporary and affect the market.

tjtonmoy

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Quote from: Mrbluntzy on March 16, 2023, 07:54:18 AM

why is Bitcoin market always affected by all economics news

Bitcoin is a proof of work based coin. So its market price could vary on people's behavior. Bitcoin is borderless currency and used by people all over the world. So any news regarding economy could divert their mind and force them to do such thing that they may have to sell their holdings or exit the market for some period. And it's like a chain reaction, if it happens in a large scale, others will exit the market in order to keep their profits or decrease their loss percentage.
But not all news related to the economy could affect the bitcoin market. And some could be good and some could be bad.

SquallLeonhart

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Quote from: Ryu_Ar1 on March 18, 2023, 05:36:26 AM

Bitcoin even today is still something very interesting and fantastic for our circles but for the world bitcoin is not that big. Now we can be said to be still in the form of development so obviously this will be greatly affected by the economy. but on the other hand at this time it is actually not only about bitcoin or crypto but obviously all types of investments that have value in them will definitely be affected by the economy and this is something that will definitely happen.
But in this case we can conclude that actually the positive side is that when the world economy starts to improve this will also clearly affect bitcoin to improve again.

I would guess that there are plenty of people who are working towards growing the community, some people like to spread the word but the news are doing it for us instead. Since the media took attention to bitcoin long time ago, I would guess that it is going to be as decent as it gets for the future and I should be not really straining myself to get more people involved since I can reach out one by one whereas they do it by millions.

Almost everyone in the entire world heard about it so far, which I guess that it should be decent and not really a trouble right now, they will either join or not but at least everyone knows about it.

GreenStox

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because bitcoin has become a place of investment among many people, and people have started to know about bitcoin.
they will continue to grow, so it's no wonder bitcoin is impacted by that.

AnonBitCoiner

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Economics news have the greatest impact on the success of bitcoin. Good news is directly related to the enhancement of worth whereas its where as bad news are inversely related to its profits.

Bitcoin is very essential for achievements of goals and its value rise as the demand of people rises. So whenever the bad news arises so the people interest towards bitcoin decreases therefore it directly impacts its value.

So it's very simple logic that whenever news comes about bitcoin it's bad or good but it's effect on price will be greater.

teosanru

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Quote from: Mrbluntzy on March 16, 2023, 07:54:18 AM

I apologize if this is a dumb question but the fact is that I don't know why.

My question is, why is Bitcoin market always affected by all economics news, example is the issues with US bank like the SVB. Thank you

It's because we guys have habit of correlating all movements in bitcoin with something or the other. I feel these movements that happen in bitcoin are just cyclic. They don't always happen due to macro economic reasons. Like this time market was already pretty oversold at this point when this news came in and market boomed up. Moreover these are very very small movements and bitcoin doesn't really have a lot of effect on longer term prices. Even stock markets face these attacks.

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