Bitcoin Forum

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If it makes it into any mainstream news though, that's all people are going to care about. Bitcoin jumps $5000/$10000 in a day is quite the news article if it does get pushed or somewhere is having a slow news day...

If this is what happens even if amazon of another large company don't accept bitcoin, what happens if one does? What is steam offers to facilitate it again at some point (or anyone else that big).

Yeah it sort of  and  the news about it circulate now on social medias so I think this is another manipulation for certain whales who want  to manipulate the market although this  is totally good especially ghost month is coming but we need to be careful since other people might get FOMO if those manipulators could successfully start to move up the price and left behind when they want to abandon the ship, so better secure and watch the market closely to avoid being a bag holder.

Its natural process, nobody is forcing people to jump the gun but they do it every time.   Even taken at best the rumor is that some point in future Amazon will implement in some shape or form and sure it'd be useful and likely bullish for BTC but global companies like this can take years, half a decade to fully implement anything.   This latest refusal by Amazon doesn't end the idea for me, it says we dont want to discuss it publicly and yep I can guess that because BTC is not without its controversy in tax terms & all sorts.
   The chart had a setup for a rise anyway, thats all that can be taken seriously.   It had passed a downtrend, we had compromised support but its reversed back above like when you push an empty bottle under the water and it bounces back up its natural.

Hamsters or lemmings?
I mean some jump from cliffs others just end up at 9G in a spinning wheel  ;D
 
Anyhow, that's why I don't trade, and this is one of the reasons I don't go betting large sums on events, because I always put the money on things that I want to happen and not on the things I believe will happen, most times I end up betting on some horse just because I think the damn donkey should win, and now even bothering looking at other things like surface or others.

Same in trading, I would have probably ended up penniless after going long for a month on all good news and totally miss this opportunity because I didn't believe the rumors, so I would have stayed on the side because of my thinking on what the price should be rather than thinking on how the markets (or the hamsters) would react. Same for shorting, now normally I would say a 35k would be absolutely normal, but I have a feeling it's not going to be like that and we're going to flip and flop a lot. So, better safe than sorry.


I would take any bet on the fact that the article was paid to be published! Too bad we will never probably find out.

While Amazon accepting bitcoin isn't impossible, the rumour about Amazon accepting bitcoin payments was dumb and didn't have any proof besides "insider reports" in the first place. It's just classic retail investors being dumb and believing everything they read on Twitter.

Amazon is actually hiring cryptocurrency-related developers though. So there's somewhat of a silver lining. https://www.amazon.jobs/en/jobs/1644513/digital-currency-and-blockchain-product-lead

Manipulation, people have been falling for it. It is one of the stupidest rumors we have. It originated from a random website, and then larger websites began to appear. The answer to the interview was meaningless, like a joke. Everything is interconnected, and people have feelings about what companies and banks do as part of the financial system and what affects other assets.

I really dont think the reason why it fell was due to Amazon denying this news. This news never had a concrete source to begin with. Its like the rumor that Apple, Facebook and Alibaba bought billions of $. Everybody knows its nothing but a rumor until it has concrete sources which it never has.

This news was no different. I think the reason it dropped so hard was because it was New York lunch and many of the European and American traders took their profits. And its just a coincidence that it happened at around that time of the tweet. Most likely it would of dipped anyways.

Amazon has been rumored for years to accept BTC. This is nothing new.

The squeeze is really devastating, with a lot of liquidations.
In the Binance futures market, Bitcoin was able to reach around $48,000 yesterday in just a few seconds. Really huge spread to their spot Bitcoin market.

So, this could be the reason for the pump yesterday and dump a few hours ago.
This could be a lesson for some high-leverage traders.

after yesterday's pump and an hour later bitcoin fell again at $ 37,000, many investors felt losses and mounting anxiety, that's what some people think. I don't think it's like that. yesterday's pump was evidence of the initial rise of bitcoin after some time bitcoin was in the charging stage. maybe in the future bitcoin even higher pumps over yesterday's levels.

I knew it was a clickbait, because of the word insider. Such corporation as Amazon can not allow such information to leak out. There are billions of profit are on stake, and information of Bitcoin acceptance in 2022 simply leak out. That was just too sweet to be true.

However, that was a great example and a lesson, how easy cryptocurrency market can be manipulated with fake news.

To be honest, I was expecting something like that news. It was hard to believe Amazon accepting Bitcoin this year. But I was stupid didn't take short even I noticed Bitcoin is trading above $40K. I thought perhaps Bitcoin would break $45K within one or two days. But in the morning when open a trading account seems Bitcoin dropped a lot. I wondered if the Amazon news becomes false then what would happen? It just happened at the end of the day. Most probably it was a manipulation IMO.

Nah. Come on. BTC went from 30 to 40k and then dropped to 36k where it seems to be holding steady. That to me is devastating for the bears who've been trying for so long to keep things below 30k and then BTC went and touched 40k again in the past 24 hours. It didn't last but it's a big sign that the buyers aren't giving up any time soon.

That's the result of short term manipulation and for me its really good to see thay happens since its a fear killer and for sure many traders are now confident that we cannot see more deeper figures as bitcoin went to that figures. Although the price didn't go far as we think but this is really a big sign that there are more great things will happen in future.

It wasn't dump if it was a deliberate market manipulation to pump Bitcoin, which would mean that all the news sites that posted it are complicit. This is an example that shows why governments and regulators are cautious about crypto - some anonymous person in any country in the world could orchestrate a market manipulation and lots of clueless retail investors will pay the price. So maybe this market has to mature and become more resistant to obvious manipulations before crypto investments should be recommended to everyone and their grandma.

I wasn't even aware that the increase happened until I saw the topics here, whenever price increases a lot there are people who get super excited about it around here and I do not see the point of it, if you are a true bitcoin believer you know that it will be much much higher than this so there is no need to increase. I personally hope that we will do fine, it is not going to be easy but it will happen one day and these increases could be caused by ANY news and I will not care.

Do not care about these news because they are short term stuff, this amazon stuff turned out to be wrong and fake, but even if it were true, there were no need to increase the price and buy more bitcoins just because amazon will accept it. If the reason why you are bitcoin is to spend it on amazon that would make sense but why do it this early anyway? Aside from that, there is no news that can make me do something I am not already doing.

Just right of what I thought, the rumor was not verified at the start and yet the price still pump, now that Amazon had confirmed they have no plans on accepting bitcoin, we might not be able to see bitcoin pump to $40k again, instead, bitcoin might drop below $30,000 as a result of the fake news by whoever that insider is.

Prepare for the dump, lucky are those who had sold during the one day pumped.

Yeah I'm not a fan of manipulation but can't deny that's happening everywhere and it's what makes the market so exciting for those who like the short-term volatility. But, again, yesterday had nothing to do with a devastating squeeze and the fact that we're back up today, in fact, looking stronger than yesterday's reactions, proves that:)

Besides being just a rumor, I think Amazon have already cleared out air around the rumor. Even if it's a false information you can still make a lot of money by buying at a low prices although it's a risk if people will bite the rumor and buy bitcoin which ends up with the rise in prices and if it didn't then expect no profit.

Seems like you weren't stupid, more like cautious when you certainly needed to.
I've also said I felt like shorting when the news about the denial showed up was like the most normal thing to do but if you would have hoped for a backtrace to below 34 and not closed them immediately it would have cost you. Clearly, at this point, the price is all over the place and it makes like zero sense to go either direction with more than you can write it off as lost from the moment you put up your position.


And the dump is not coming!

I wonder if this fake news wasn't actually the trigger we needed for the price to finally take into account all the good things that happened while we were going down and down and down. It would be indeed a weird outcome but in the end, right now 40k makes far more sense than going below 30k again, even if we count out this amazon stuff.

^  Yup, nobody seems to want to sell right now.  And it’s holding up good.  But here’s a funny thought, what if it takes another fake news, but on the negative side, to get BTC to sell down..?  :D  Maybe by the same people who made the Amazon news.  Lolol.

Which is a good news and bad news at the same time, good news because now the institutional investors know that they can't easily make money out of the market via manipulation through rumors spread to create a hype and bad news because that means that other institutional investors would be discouraged to get in the market if they want to make a quick profit via manipulation.

not all investors look stupid, only those who are beginners look stupid and don't understand so they are stuck with fake news or unclear news.
when positive news spreads people are competing to buy and when negative news comes again competing to sell, it really surprises me.

Unfortunately banal or not it really worked. I understand that these type of news making the headlines and causing the price to go up is a horrible thing for all of us, however at the very least we are talking about something that is bringing some life into crypto and that is not something we should let go that easily.

I personally like it when the price is not dropping, and this is came in exactly at that time, price was falling like crazy and we ended up with the news and the price started to skyrocket, I am not going to be upset over something that I have zero control over that helped me, I would be maybe upset if it dropped the price even more, but since I can't control it in that case as well I wouldn't really get upset about it neither, not like I caused anything, so why should I care? I am not selling neither so it should not really bother me.

I don't believe in rumors that are not clear and people say it should be seen, maybe people who don't have assets in cryptocurrencies. so it's only natural for him to make a rumor that is not clear, because he has nothing to lose and he's just looking to gain from the other side,
it's good not to be easily influenced by rumors like that, then panic sells together. I was angry to see that.

If the market goes down now, we will say the resistance it too high and so is the reason we are having a correction  :D. If not someone will come up with a story talking about the reason for the correction and everyone dance to that tune, even if we have seen this situation many times we just wait for any sort of news that goes along the lines whenever the market goes in either direction  :D.

As long as we don't see the market survives at $44k and beyond there's no chance for bull market to exist at any random scenario. The harmony of corrections, leaded people on safer state so that they'll be holding their coins for future benefits. Whatsoever the outcome will be, news and other cryptocurrency related articles matters the most.

News is never as powerful as the stats, graph whatever way you have to decipher the order flow is far more reliable but in a good trend the news and price action should match each other mostly.

https://talkimg.com/images/2023/06/12/AyVT5.png

We do have many daily green bars recently.   I think it will end up close to the 200 day average before a sell off, my take is that price becomes magnetized by that common observable destination so we end up where the crowd objectively maintain in their expectations.   However as always thats a probable scenario never certain but imo we fall upwards, the test will be somewhere around that and then we fall back to the upper range area which is like 39k on this chart for example.   Possibly in future we fall as far as 50 daily moving average which is 35k, it might be we move so slowly or just sideways that the 50 daily average rises towards price and the pullback is less aggressive.