Bitcoin Forum

On this day, we experienced a 14% price increase and then fell to 37,000. At first, an anonymous source inside Amazon told CityAM, a London business newspaper, that Amazon planned to accept Bitcoin payments by the end of 2021. She stated that Bitcoin is the first step for Amazon to realize its cryptocurrency ambitions. Although the news spread quickly under the media or professionals, Amazon did not immediately issue a statement denying the rumors. What is happening now after this is that Amazon has denied the City AM rumors. I opened the market and saw that it was already falling. In the matter of Musk and Amazon, investors in our market pay too much attention to them and expect them to make a difference.

https://cryptobriefing.com/amazon-denies-rumours-of-cryptocurrency-support/?utm_source=cryptorank&utm_medium=rss

It is already obvious that the so-called news and rumors have caused the price of Bitcoin to rise. This has always been the driving force for the promotion of cryptocurrency, and everything is related.

Price is on the rise regardless of the Amazon news. The rest is just market manipulation.

The price started rising up and showed a lot of potential then the "rumor" came out to help the push and possibly cause some drama later which they did start the FUD and the artificial panic sell as soon as price surpassed $40k because they have been leaking a lot of money as the short squeeze takes their money. So they have to up their FUD game.

Whether we get good news or bad news, it will have an impact on the market. When we get good news, prices will go up. When we get bad news, it will cause panic in the market and cause prices to fall,

if you know people, you know markets. Markets are the result of popular psychology. Should human emotions, other than rumors and speculation, drive prices?

I think there is/is really something cooking out there, the market reacted very strongly because of this "amazon humor", it really reacted well even there is no official state from Amazon. We have already experienced these kinds of humor for the past years and if the market reacted like this, there is always a positive will happen even the humor is not true.
This is one of the best example of manipulation.

Price is based on pure speculation, so obviously, when there is a good news, the market will jump on that news and the price will obviously go up. But after Amazon has denied the rumour, then there is a sudden jump, from as high as $40k on some major exchanges to now at $36k and continue its down trend. Is this a manipulation, not sure where it's coming from, but this is crystal clear and a classic example of "buy the rumor sell the news" adage".

It is not necessarily a bad thing. The market is indeed subject to volatility, and we may be driven by other things. Whales are pushing up prices. This is irrefutable. Of course, rumors will affect them, keeping prices low while not increasing transaction volume, thus getting rid of paper hands.

Rumors are like a wheel between two opposing market segments.
Yesterday's chart was due to a positive rumor in favor of the first segment, namely investors who had already bought deep whales and waited for the whales to be pumped and then resold. The first segment earns a lot of profit. while the second segment buys when the whale has been pumped and the rumors follow it with negative rumors. The segment includes people failing to respond to the second rumor.

so I'm more inclined to think rumors like the op conveyed:
https://cryptobriefing.com/amazon-denies-rumours-of-cryptocurrency-support/?utm_source=cryptorrank&utm_medium=rss
turned out to be driving prices high.

Promotion is beneficial to bitcoin and the whole cryptocurrency market, but when it comes to rush decisions we should also look after the resistance of bear market. Though we observed some spikes few hours ago, it doesn't make sense if all aggressive traders took advantage of that rise. Were far from our target, it's too early to celebrate while bitcoin has the huge potential to reach the top most price ever.

There must be some truth to it otherwise it wouldn't come out and after all many have been talking about Amazon going to accept Bitcoin even before 2020. The rumor had made the price goes up so there is nothing to complain about it. If it's going to start a bullrun, it would be one the best years we have in our lives, just think about having 2 bullrun in a year. Speculations and price predictions for this year I guess have the chance to be achieved.

It might've been the case and I don't get how some people have fallen for this kind of trap because it's obvious that the Amazon stuff is just a rumor but it seems that the people in the market still bought in creating some pump which may or may not have caused some people to lose some of their money.

Big companies like Amazon are more influential. Many people will follow the trend and buy Bitcoin, t he resulting market sentiment and demand will increase prices.
But Amazon denies that the news of accepting Bitcoin also has a certain impact on the price, and the price of Bitcoin has dropped due to this news.
The news will have an impact on the crypto market, and the good news will push the price of Bitcoin to rise.

But the price seems to move up as well even if Amazon denies the news of accepting bitcoin isn't it?

So the impact in minimal to say the least, we have a good spike and then it went down, fortunately, speculators have push it further above $40k now. So now let's forget about the news about Amazon, let the price goes up a bit naturally and hopefully we can see it getting into the $50k range.

The price move because many people got hype up by the news  that amazon will accept  bitcoin that's why we see a  good pump happen recently, but what good thing happened even if amazon denied this  news still  bitcoin stay strong at $40k lets  hope  that  there's no intervention or sudden big troubles will came so that we can see  bitcoin  reached at $50k. This is quite near to reached and its $10k  away before we can reach that.

Well, Bitcoin is a highly speculative asset, but regardless of the denial of Amazon, though the market reacted a bit and the price pulled back but it still managed to bounce back up to $40,000.
So, this isn't about the Amazon, there's something more relevant news and speculations than those you have mentioned.
Or it could be the speculators and day traders took advantage of the sell-off after the Amazon denial.

I think we are in FOMO again that's why the sudden push to $40k. But I'm just wondering where is the FOMO coming? Or is this an artificial growth that we are seeing. The market is really full of surprises specially in the last 7 days, more than 25% increased and still going up.

So yeah, maybe August will be another good month for us, $50k might be around the corner again and pretty sure that all of us will be happy to see that numbers again before the eventually new all time high before the end of the year.

The price action was started days after this rumor appeared. They even deny it so in short this upward motion was caused by something else. Jack Dorsey's talks with Elon and Catherine Wood of Ark invest probably caused this bullishness added by their tweets and FOMO exist by this talks.

They probably is. As far as I know, Amazon Gift cards are readily available to be converted to BTC using paxful. If they use BTC as payment, it could probably be skyrocket the price of BTC.

Amazon has been in the news lately and that could be a factor that has made bitcoin pump and creating more hype for itself because of the volatility and uncertainty.


Now that Amazon is denying her support for cryptocurrency but yet supporting blockchain while blockchain is more associated with bitcoin, the whole news is confusing and likely to create more dynamics in the market.

First the b-word meeting pushed the price back well above $30k, then the Amazon rumor sent it shooting up $5000+ to around $40k. Enough short positions and bear resistance positions were liquidated that even after Amazon denied the rumor the price only fell a few thousand and quickly recovered. The rally from the Amazon rumor broke the bears, at least for the time being, so the market looks a lot stronger right now. Furthermore, whale accumulation is getting back to where it was before the sold off this Spring. Strength is building. The Amazon rumor, though now discredited, yes was an obvious price push, but it broke the back of the bears and with the more fundamental accumulation that has been going on Bitcoin may be ready to break out of the bottom of the market soon.

Yeah, many shorts got liquidated, but the whales are going to accumulate and then speculators will continue to short, so let's see who will win in the battle. So far the price push to $40,000 was not sustainable as it goes down a bit to $39,000. So let's wait what will happen, I'm optimistic though that the bulls are going to get and wrestle back the market from the bears. We need to see the price jump back again to $40,000-$50,000 range mid August.

it's like the natural nature of Bitcoin itself, you don't have to be surprised and wondering why this all keeps happening, of course bitcoin will continue to fluctuate from time to time influenced by various things that can affect it. Apart from human emotions, rumors, and speculation.. there are still a lot of specific projects related to bitcoin, gambling sites, crypto projects, big investors etc that can affect the price movements too.

That is why we need to calm down for a while if we read bad news and not following them who panic because of that news. By calm down, we can think about what we can do related to the current situation to get out or even use that moment for our own benefit. It is how we can control emotions because of reading the bad news and how we can solve the problem and change it for our benefit. If you can do that, I am sure you will not have any problem with the market movements because you can always get the idea to use the situation for yourself.

We still have to be careful with this news and rumors though, they are sometimes entirely created to specifically move the market, stock markets do it all the time, some even go underhanded just to short a company so what can be the difference with bitcoin market being influenced by the market trends.

There could be some people paying to get those news out so that the price would go up. One news comes to around 1 thousand to 10 thousand dollars in big crypto related news websites, which means that we are talking about a news cycle that could cost someone as much as 100k and it will be out there and everyone will know about it. This is why I honestly think that we should not be considering this as a big option, we should be considering it as just manipulation by some whale who spent at maximum 100k, maybe even less, to get this news heard all around the world.

It doesn't matter if the news is real or not, only thing that matters is the fact that the price already went up from it, and that means that anyone could increase the price, only thing they need to do is spend money on it. You can give me 100k today, and I can increase ANY coin minimum of 20% right now, not by buying it, but by making news about it.

On this relative movements that created more desirable increase, it's now happening with bitcoin and other cryptocurrency market value. The price lately begun to spike as of this moment, and it green signals is currently showing on as an indication for buyers and holders. It's a good opportunity for day traders but just a chill time for long term traders.

One of the nicest thing when you are a holder is that you wont really be stressing out yourself in regards of price movements because your main priority is on how to accumulate more coins
and wouldnt care on what are the price as of this moment but for short term traders or investors then this would really be a stressful thing.Take for example on whats the real reason on
why the price had make out some significant rise from 30k to 40k? Theres none right? This is just proving and showing off that market could really be that unpredictable
Lots had already thought that it is really going to dump and going back to 20k.

Whatever it takes, just keep in mind that any possibility will soon exist in the cryptocurrency market and with respect to the pushing of price up I think whales are within control on that matter. Traders and holders also sighting many things before the top price will be reached. Sometimes we don't know how it takes to be with the trap, but we should realize all efforts we sacrifice in order to let our money grow for the better future so don't fall on FUD and negative ideas of other people.

Human emotions caused by factors such as rumors and speculation cause price changes. Amazon’s acceptance of Bitcoin will drive up the price of Bitcoin. Large companies like Amazon are more influential. Many people will buy Bitcoin from this. The increase in demand will affect the price increase.