Bitcoin Forum

At the beginning of this year, Tesla announced that it would accept Bitcoin as a payment for car purchases, and the price of Bitcoin has skyrocketed as a result. In May, after Musk announced that Tesla would no longer accept Bitcoin as a payment option due to environmental concerns, the price of Bitcoin began to dive. At the beginning of July, Musk said that Tesla would resume accepting Bitcoin in the future. Last week, Amazon issued a message to recruit people in charge of digital currency and blockchain products, which aroused people's attention. Therefore, many people would think these news caused changes in the price of Bitcoin.

But bitcoin price fluctuations are largely affected by technical indicators rather than basic events. Bitcoin's short-term upward trend began before Amazon's job advertisement was announced, and the pace of the trend does not seem to be affected by news reports. These news will affect Bitcoin's short-term price fluctuations. In the long run, Bitcoin will not care about Amazon's recruitment information or Tesla's sentiment to cause price fluctuations.

https://i.loli.net/2021/07/29/oSh7k9QzAxNYZ1c.png

https://www.forbes.com/sites/martinrivers/2021/07/27/bitcoin-didnt-care-about-tesla-and-it-doesnt-care-about-amazon-either/?sh=48dd020513b8 (https://www.forbes.com/sites/martinrivers/2021/07/27/bitcoin-didnt-care-about-tesla-and-it-doesnt-care-about-amazon-either/?sh=48dd020513b8)

Ideally it shouldn't but the reality is something different. Elon Musk did manipulate the bitcoin market with his comments. Same thing happened when the rumor about Amazon accepting bitcoin payment came out. I am not sure if you are trying to justify such incidents with technical analysis, but these are not really anything to do about resistance points etc. These are market manipulation at it highest level. Rumors spread faster than wildfire and that exactly what happened in last few days! Elon's was even more prominent and he has spoken publicly about accepting or not accepting bitcoin.

Bitcoin shouldn't care about all such big man's nuisance, but unfortunately it does!

Only weak hands, newbies and Elon musk fans was caused the price dump in the past, they only follow what the self pro claimed and their role model doing because they trust them. They have a mindset since his role model is very rich, then to become a rich like him he need to follow anything what his role model do.

But Bitcoin will still be affected by "rumors" or "hype".
When Musk said that he would use Bitcoin to pay, because he has a number of fans, this is also good news for Bitcoin, so it pushed the price of Bitcoin. When Amazon said that Bitcoin can be used, this The news also caused a period of enthusiasm and caused Bitcoin to rise. To be honest, the impact of the two on the price of Bitcoin can indeed be seen.
But Bitcoin is more flexible, because both of them are not currently implemented, and they are not substantively helpful to Bitcoin, but it is also because Amazon and Musk Bitcoin are more people's attention. It is also a good thing.

These two have had a great impact on the price of Bitcoin. I have to admit that Musk announced that Tesla has become a company that accepts Bitcoin payments, which promoted the increase in prices at that time. Amazon was also because of a rumor-like news. Once again, Bitcoin pushed up 14%. I think that the public adoption of cryptocurrencies by these large institutions and their support for Bitcoin will have an impact on prices. Compared with Tesla, Amazon is more meaningful in pushing prices.
These big players enter the market to attract more users to join the market. Over time, they will realize this and will buy at a higher price in the future. ;)

Even if bitcoin doesn't mean care about these big companies, the companies care about bitcoin, specifically their interest in it so they have to try and make money out of it given that they know that they can make millions if not billions in a short time span. Of course bitcoin doesn't care, it's a decentralized platform after all but that doesn't mean that it's susceptible to manipulation.

Bitcoin is already established financial asset and means of payment that has digital connotation, Tesla, Amazon, PayPal and other global institution need bitcoin more for their businesses to tribe and easily accessible to the world. So I agree with the topic very well. Although the use of bitcoin further increase the price but bitcoin won't disappear if they don't because bitcoin is decentralized and countries adopting.

Are you one of the few that believe that BTC can bounce back to 40k without any help from good news ? You are wrong pal BTC needs adoption and Amazon implementing crypto payment will bring right justice for bitcoin and crypto world entirely

When it is rising, good news comes one after another; when it is falling, the bad news gets worse one by one. The market needs these news to drive the sentiment of retail investors.
It's not that Bitcoin doesn't care, but that the market needs these people to drive emotions, whether we want to believe it or not, even if we don't like it.

What's taking them so long getting into the market then, I think they're planning something that will make it favorable to them. I don't think that Tesla and Amazon's influence would dwindle even if there's more people getting in the market, Elon has millions of Twitter followers and they do their best to have him on the headline, Amazon on the other is already a staple in many households so I disagree with you on that part.

We can't deny that the influence of Elon Musk and the Amazon rumors had an impact on the rise in the price of Bitcoin.  So the note is not true and I read that Amazon declined or refused in connection to cryptocurrency.  Those who just keep up with the hype and FOMO often make the wrong decision without even researching what they are entering.

It just shows how resilient bitcoin is, even if there are whales and manipulators around that are trying to push the price, still bitcoin goes on a $40k pump even after the Amazon denial.

Now, let's see how further this sort of mini bull run can bring us, $40k is achieved, let go for $50k next month and move away from the lowest low just a couple of weeks ago at $29k.

I sometimes think that those who do this kind of screens are sometimes under the Itachi's Genjutsu :D
What really gives you a reason to say that in the title when your arguments actually prove the different idea? Technical analysis has nothing to do here.
Okay, let's see how everything happened:
Overall, there is an expectation that after the halving, bitcoin's price should significantly rise. It happened that way and went up to 20K. Then what happened? PayPal announces that it will accept Bitcoin and it increased the price. Then Elon Musk announces that Tesla will accept the crypto and then price rises again and then the rise continue until his tweet that really destroyed the whole crypto market. His tweets had so much influence that it not only seriously affected the Bitcoin's price but at the same time he was seriously hyping the Dogecoin and it had an enormous increase in price.

After Elon's tweet, it was looking like the market was rebounding but then the China announced mining ban and it finally crashed the market without the chance of rise. Then, what happened? Btc was playing between low price range and one day the rumor leaked that Amazon is going to accept the price and it quickly reached the 40K price, liquidated a lot of short positions on futures market.

So, yeah, it's price is very dependant on this kind of actions and the result from these announcements is almost immediate.

Common, how many times does it takes for all indicators and for millions of TA graphs to get thrown in the garbage to realize that drawing those and trying to predict the price is worse than horse gambling when you don't even know the horse's numbers? One tweet from Musk the price is all over the place, one fake news the same, nobody was able to predict those movements continuously even once but people still have this fetish of trying to pick random periods of times and random log graphics and find patterns like some cultist in the 3rd century tried to find the face of Jesus on every tree trunk or rock.

Every so-called analyst tries to find ways to claim that there are ways to predict the price because if finally everyone realizes it's impossible he will be out of a job!
But I do love the way they only came AFTER! the event to say, no this was normal, it wasn't because of that, but not before to tell the price will reach 40k in one week or 60k in one month or drop to 30k in 20 days.
Let's see if Warren starts again spreading her non-sense about taxation how those technical indicators will work.

Some of those clowns happen to be right once in while, but don't hurry to bookmark their page! Next time other "experts" will be right, and the other time - others. Among all broken clocks in the world some show the correct time, and if you have enough of those clocks you'll have one of them showing the right time at any moment.

But wouldn't that discount the fact that bitcoin still be manipulated by these big companies right? I mean bitcoin is a decentralized cryptocurrency meaning that it doesn't follow a certain rule or authority but it doesn't say that you can't assume some sort of pseudo control with it's movement in the market.

Bitcoin doesn't care about Tesla and Amazon. It stands on its own features. Bitcoin's credentials speak for itself. Those who are drawn into Bitcoin because of its technology will fully embrace it regardless of the opinions of huge companies. However, it is also a fact that many, perhaps majority even, of Bitcoin owners are looking at its equivalent in fiat. As a result, they care so much of who is supporting Bitcoin, which company is accepting it, and so on.

Tesla, Amazon and other large firms weren't cared by bitcoin. Those firms having a secured position in the global market gave it more power. With this the small changes made by this firms relative to cryptocurrency make the common people follow them. This is where everything is connected and it is mentioned as Elon Musk drives the market. Now one doubts the technology, but the manipulation is something that could affect the true meaning potential of bitcoin in the long run.

It is true, those news might affect bitcoin's price temporarily but in the long run there's no need to care about those news even if they like or dislike bitcoin but we're more for the likes and positive news about bitcoin with these companies.

As it gives the idea and trust to the people who are not yet aware or still in doubt about bitcoin. They have a broad and massive customers that are trusting those brands so it's a good help if these companies are for bitcoin.

Yep, Elon Musk has millions of fans out there and makes him a role model...

I've heard that imitating the mindset of someone who is rich will make you rich but will they by imitating the mindset of Elon become rich? Bitcoin doesn't need big inconsistent companies that just act to manipulate the market.

Are you still in 2017? Man its 2021 now... BTC does not need adoption. No one think it will replace FIATs anymore. BTC does not need to be used by all human population. That's 2017 bubble paradigm. Its 2021 bubble where BTC is a digital gold. Means that it is store of value... means that it is an asset that 5% of reachest people allocate 5% of portfolio to headge against crash of current monetary system. We dont need amazon here. Thats enough to push btc to 1 mln $.



Thats how it works. Insider buy (this fake news creator) market pump, hype train, price pump even harder, insider sell. The fact that someting started to pump before news does not prove that it was not caused by news...

But at the end of the day i agree with you. Its only short term volatility with 0 long term value.

From time and again this has been a heated issue of debate, critics of Technical analysis argue that TA is nothing just a self-fulfilling Prophecy that people use to try and convince themselves to buy/ sell things. But some people say that news are deliberately posted by larger whales at Crucial points on Charts. This is more like the Egg or the Chicken Riddle. I have seen sometimes that the market was already giving a lot of breakout signs and news acted as a trigger to support that breakout, sometimes I have seen that much important news just leave the market unaffected, while sometimes even the slightest of bad news takes the market down with it. So far I have just concluded that it's all just whale play that is going on in the market and it's all about confusing the retail investors as much as possible and make some money.

Bitcoin as a technology may not care and that is right but the people holding and trading bitcoin care and I will say that they care a lot, personally I do not think too much of Elon or anyone that tries to market themselves as the savior of this market or anything like that but you can be sure the is a lot of people that do in fact believe his words and while each one of those people does not have a lot of power if they move in a uniform way then they can affect the market significantly.

Not exactly so. When there was a hype driven by Musk the price kept rising and remained on that level for a pretty long time, just before the bad news hit media. Price fluctuations may not be entirely caused by the media, but certain news definitely bring oil to the fire and sometimes affect price in the long term as well. Although, it all depends on what we define as long-term. Eventually, no matter what the news are, the price will stabilize.

But that doesn't change the fact that elon and his minions also the reason why bitcoin pumps after tweeting related to bitcoin, changing bio with a bitcoin hashtag, investing and tesla's accepting bitcoin payment, etc. And after a while it dumps, mainly because of him and tesla's revoking the acceptance of bitcoin payment as well.

Of course, bitcoin are still affected with this current events but the effect is just temporary. Afterwards, bitcoin rises up again with new positive updates passing through its resistance level.

Tesla and Amazon are both big companies that made bitcoin price to decline and it's undeniable. But bitcoin does not stop there. If it will be easily affected with negative news, then same thing happens whenever positive news will come too. Bitcoin will hype again and may reach another peak again in time.

I completely disagree, these two events, The B Word roundtable and the Amazon hiring news both greatly effected the price of bitcoin.  In large part this news caused a lot of traders to cover their short positions due to the rise that these news event created.  This is a fact, and not really something that can be debated. I'm not saying traders should care about these event's as much as they do, but they do.

Of course traders and speculators care about the next big news to make profits. But if they short in the last 7 days, they should be at a negative because the price suddenly jumps above $40k and then stay there for some time before a quick dump, forcing the market to ~$39k right now.

But we should understand that the last price movement was not fueled by Amazon because they have denied it. And the price continue to soar as I have said and it is not dumping hard as expected. Still good and strong at $39k, strong indication that we might see another break out run next month.

Tesla accepted Bitcoin for the first time, and huge transactions pushed up its price. There have been reports recently that Amazon as the world's largest retailer will accept encryption, which is also big news for his own creation. Enter the Bitcoin world and make it public, thereby enhancing the credibility of Bitcoin in the eyes of the public. This will affect the price of Bitcoin in the short term.
Bitcoin is incredibly resilient, and in the long run, price changes do not come from these major events. Bitcoin is a real revolution and does not need its players. Bitcoin is the future.

I personally think that Bitcoin cares about Tesla. Bitcoin cares about Amazon. Bitcoin is a network. It cares about every individual and entity that wants to be a part of it. The more wealth that is determined to be stored and traded on the Bitcoin network, the more valuable Bitcoin is.

You may have heard that, but how would you imitate his mindset if you don't know whether what he presents to be his mindset really is his mindset? He could think differently than he talks. You may fail to grasp his mindset fully because he is smart in psychology, knows what to say in order to get you do what he wants you to do, and you don't even realize it. How would you imitate the mindset of such a person that is able to manipulate you in the first place?

I would say both work hand in hand but in the absence of fundamental analysis, technical analysis supersedes Elon musk happens to be a key stack holder in the blockchain industry and has such his tweet can cause spikes but when those tweets aren't available technical analysis rules the movement of price. So I feel both moves together

This just clearly shows how volatile and how affected bitcoin by external factors. Those recent past events indeed made a huge impact on bitcoin's price right away but still we cannot rely on such that it will be consistent or stable. Those events just hypes the market for a short moment and we'll be back to the usual price once again. Maybe bitcoin doesn't really need help from those huge companies yet if only they did the right thing towards bitcoin, maybe it would have been possible that the certain company who chose to collaborate and help bitcoin would have ended up helping each other.

Major events are definitely leaving a huge impact into bitcoin, either it causes bitcoin to dump or even pump. But one thing is certain, even if the news made it to dump, it will always bound to recover again and surprisingly settles into its new heights.

Amazon has now clear the issue and says its only a rumor and there's no reality in it. Bitcoin then immediately made a correction but after a while, bitcoin has even reached into $40k. From this, we can see how bitcoin becomes so flexible that after it dumps, the price turns out into very positive again which made the people to trust bitcoin even more.

When we speak of manipulation, anything could happen to the market, and sometimes it's the opposite of our expectation.

Bitcoin cares for the adoption as that is the purpose why it's created, as it's adopted, the demand will increase and the bitcoin price will rise.
Tesla and Amazon accepting bitcoin is a good adoption, especially for Amazon where millions of people are using this for their online shopping.

now amazon knew they could affect the price of Bitcoin, they could actually try what elon musk did by spreading something because they matter.

although it will end eventually like they won't matter after a series of announcements or tweets,  amazon still could try manipulate the market.

It was highly affected by the demand and the supply together with how those investors react with the fundamental sentiments and news. Elon Musk is a powerful influencer, a rich business man tycoon that has many followers. The moment he release some statement about bitcoin, those followers (prolly bitcoin investors or maybe some have many bitcoins on their wallets), sell off their bitcoin that greatly affected the market.

The technical indicators will just show some signs how the market will react with those news.

Of course bitcoin doesn't care, it's probably because there's no person behind it besides Satoshi although he is gone a long time ago. But that's also the weakness of bitcoin, it can easily be manipulated by different entities that habe their own agenda or interests regarding bitcoin. The sad thing is that Tesla, Amazon and other companies care about bitcoin which ends up with the oublic that is struggling being the receiver of the negatives cause my the manipulation of this institutional investor.

Unfortunately when large holdings are used as a tool, then it is out of the original desire of the birth of Bitcoin. Is there anything missing from it all? where large holdings should be restricted, but I don't know how Bitcoin holdings can be limited. Because so far as long as you have a lot of money you can buy Bitcoin with any amount and become the whales of manipulating the price at will.
To be honest, at this point I no longer see the true definition of the decentralized function.

I hate the both sides and that allows me to be very impartial judge in this fight. I am a long term investor and all I do is just wait for the time to arrive for me to sell, which is years years years down the line and neither TA one may do right now nor tweet for Elon could change that, nothing changes for me whenever one of them does something. TA could look like it is going to go down huge amount and I won't care, or show that it will go up a lot and I won't care, or for example elon could say bitcoin is awesome and I won't care, or he could say it is horrible and I won't care.

Hence neither really bothers me, I am just waiting for the time bitcoin reaches 200k+ and that's it. And since I proved that I am objective I could say that TA is a bit better because it shows the very very short periods correctly most of the time, but tweets and unexpected news are always unpredictable so they are not really there to help anyone.

Bitcoin might not care about Tesla or Amazon but truth is these companies have so much influence to help grow the crypto economy.
Already we have seen how positively Tesla shot price up after going public about their interest in bitcoin and how they will accept crypto payments for their products.
Now imagine Amazon also turning to bitcoin as an accepted method to pay for its products and services, it would be bullish.

Once the whole market gets over the initial excitement that these huge companies provide because of their involvement in bitcoin, it is a done deal. Just look at what Elon did with doge and bitcoin. A lot of traders, outsiders, and other people believed and followed his every word on Twitter, taking it as the gospel for investments until it led on to crashes and mayhem. Now, people still follow Elon’s moves on crypto, though a large portion of those who initially believed him are now ignoring what he’s saying online. The market matures, and it can literally shake off those who try to control it as time passes.

Bitcoin can work on its own and it doesn't need any big companies like that, they are saying that they will going to adapt but ended up leaving bitcoin behind.

Look at bitcoin now, its price is increasing without those things, hoping that we can see more increase in bitcoin in the market.

If you think that bitcoin only needs big companies to prevail in the market then you are wrong, it can make its own uptrend.

Yes, bitcoin does not need a big company. But those big companies can adopt bitcoin to their payment system and introduce bitcoin to the public. That will help the bitcoin popularity since the big companies will influence the other companies, whether it is small or big companies. We can not deny that because the more companies can adopt bitcoin and use bitcoin, that can make bitcoin become mainstream and maybe the popularity will increase more than now.

Bitcoin price now increases and gets attention from investors from the companies, so it will be good if investors can invite more people to follow their way to invest in bitcoin.

Bitcoin's volatility and external factors have had a certain impact on Bitcoin. Both Amazon and Tesla have helped Bitcoin gain popularity, allowing the people who have not yet joined to access Bitcoin and cryptocurrencies, which will help Bitcoin's popularity. The more wealth stored and traded on the Bitcoin network, the more valuable Bitcoin becomes, both of which have an impact on its price. Bitcoin is still affected by current events, but this impact is only temporary and only hype the market in a short period of time.

The Tesla and Amazon events have a certain impact on Bitcoin. Tesla manipulated the Bitcoin market through his comments. When rumors about Amazon accepting Bitcoin payments appeared, the price of Bitcoin immediately showed an upward trend. They have a lot of influence, their fans will follow what they do, which drives up prices. Bitcoin prices are easily affected by these external factors and change.

Bitcoin does not depend on big companies, even though big companies decide not to adopt Bitcoin, it will not make Bitcoin die. Since
the beginning Bitcoin has run without the help of big companies, without the help of big companies Bitcoin can eventually attract the interest of
many investors. But if there are big companies that adopt Bitcoin, of course it will make the development of Bitcoin much more rapid.
It must be admitted that the influence of large companies is large enough to make Bitcoin more popular,  it would be nice if large companies
wanted to adopt Bitcoin. But as time goes by, big companies will also be interested in investing in Bitcoin, if they see the Bitcoin price going up.

There is the same situation on the stock market. Different news can easily pump or dump prices, but it doesn’t matter for long-term investors (if news is not of fundamental importance). So in the long term we should care only about the basis, but not about daily fluctuations. On the other hand, there are many traders that earn exactly from different news.

The prices of bitcoin was manipulated and try to cause a temporary dump situation in the market and long term holders and believer knows it and were least bother as usual.But on the other hand weak hands were selling off to rich and strong ones at even low price and making them out of market and controlling more of sats with them.Bitcoin would soon be adopted by many investors, institution and countries and prices will be high and those who sold will regret again.We need bitcoin for economic growth and to counter inflation as we have something which is capable of counter it and tackle it with decentralized manner.

According to its Q2 summary, Tesla reports that's holds $1.3billion Bitcoin. Price fluctuations can be caused by a number of factors but definitely not entirely on Bitcoin whales (Elon, Saylor) or Rumors from Amazon. Some factors influencing Bitcoin price include; demand and supply, political events, changes in the Bitcoin community, mass media, government regulations etc. For the newbies and weak hands, here "it's important to remember and understand that Bitcoin a very volatile asset class, You have to be comfortable with the swings and you have to be comfortable also losing your money." -Anjali Jariwala

https://twitter.com/DocumentingBTC/status/1420873248011661313?s=19

Indicators are able to function because of buying and selling and this will not happen without people involved and people react positively or negatively to events, so in a way they are intertwined, the reaction of people towards the market determines it's up and down movement, if nobody is buying btc am sure indicators will not work at all, believe it or not event's like this plays an important role in the growth of the market.

Yeah, Bitcoin doesn't care about Tesla's or any other company's, person's etc. actions from now on. And Bitcoin doesn't need this kind of things to develop more. This kind of actions or news just helps the price increase a little. The increase rate was much higher in the past but not anymore.

The irrational nature of the market is one of my least favourite things about it. It makes it harder for me to keep hope

I can agree with you here. News coming from giant or influential companies can significantly impact the market movement. But it depends on what kind of announcement they are providing to the community. If it will create massive adoption, certainly, it will have positive boost in the market. In a way, we should not ignore this kind of announcement coming from big companies as they are also important in this market.

Minor price fluctuations occur naturally, but I don't think all those times when the price changes significantly and some events preceded them were coincidences. I remember how the price fell when Musk announced Tesla won't be accepting Bitcoin and China restricted mining activities. And the price clearly went up following Amazon rumors. There were also other similar events in the past. News coverage makes some impact because people act on it. Which is why it's impossible to predict the market, as events like Covid cannot be predicted in advance.

It's much less technical indicators than macro events.  The dip was corresponding with a crack down in China, so there was a lot of bitcoin that had to find buyers fast, hence the steep sell off.  When that supply waned bitcoin recovered.  You can look at technical indicators all you want, and maybe, maybe it can explain short term fluctuations on a small scale, but the overall price movement corresponds with macro events, not technical charting.

Bitcoin doesn't care about anything but people especially the investors will so the price movements will be affected by any big news and the current bump has been really a part of Amazon's announcement but its not completely since people are speculating becomes thw real reason other than anything.

I also believe that whales, along with large corporations such as Tesla and Amazon, have a significant impact on cryptocurrency. They have a large percentage of the circulating BTC in the blockchain, so they have the ability to manipulate, as seen recently. Elon Musk has created a ruse that cause a market crash in BTC, resulting in a bear market. These kinds of things should be taken into account because they can have a significant impact on the price of BTC and, of course, other alternative coins.

But if you're asking about BTC relying on them, of course, it's not.

Well original bitcoin was created not to block major companies to do this, it was created so that major companies wouldn't have an unfair advantage, and they do not have it here. Think about it this way, if a company makes a bad investment, would they be bailed out and continue like nothing happened in crypto or in fiat world? Obviously in fiat world. Sure Tesla or Amazon or any other major company could invest or even manipulate bitcoin, that's fine, but if they do a mistake satoshi will not suddenly come out of shadows and give them some free bitcoins so that they could get richer and wealthier, that is literally what is happening in the fiat world, companies that have 1+ billion dollars in profits getting help.

Amazon literally got TWICE richer, reached to 1.6+ TRILLION dollar marketcap, and still got 10 billion dollars free money for their space thingy, like they needed 10 billion, it is nothing to them, but it is free money so they took it anyway. There is nothing like that in crypto and that is why it was created.

I wonder why they really fascinated with how bitcoin cares for those reasons. Bitcoin isn't a person, it's an asset so it always becomes more valuable when hype goes so trending and the price is quickly changing depending on how the speculations affects it's specific demands. News and other prominent persons of interest is the biggest keys to make btc price abruptly rising, regardless if it's from Amazon, tesla or whatever biggest company may ride with the trend.

Indeed. Those big companies can fully adopt bitcoin plus many people from many countries also adopt bitcoin and use it in their daily life. In that case, that will benefit bitcoin, which is the presence of bitcoin will help them solve the finance for their people. It is like problem-solving for people who want to earn money from the ways that bitcoin offered. The popularity of bitcoin will rise with the help of many people using bitcoin because they will suggest to their friends, relatives, or family to follow them to use bitcoin. It will attract the demand for bitcoin will also increase and the price will go up.

As long as the people that are participating in the market doesn't get easily swayed or moves solely based on rumors or news of companies making a move in the bitcoin market and even the cryptocurrency market in general.  I agree regarding the increase rate being much higher this time because bitcoin becomes more renowned and more people are introduced to it.

Agreed. Adoption by Amazon or Tesla is not much important for the long-term future of Bitcoin as an asset, or as a currency. But it matters a lot for people like us who are investing in cryptocurrency. At one point or the other, we need to sell some of our coins. And increasing adoption and acceptability of Bitcoin will make sure that we will end up with good profit when we do so. But overall, for Bitcoin it is immaterial. Irrespective of the adoption level, the future belongs to Bitcoin. Amazon will be forced to accept BTC at some point in the future, if they don't do now.

Bitcoin is a decentralized coin that rises from near zero value so it has a value that grows over time based on the algorithm and the 'stock to flow' model. Tesla and Amazon are the only drivers of Bitcoin's rise in value and not its determinants. Bitcoin development does not depend on these two companies.

It is true that Bitcoin is not dependent on Tesla and Amazon, but in many cases, these large corporations temporarily influence Bitcoin in the decisions of different individuals. These organizations motivate their followers to take a variety of actions by top-level individuals and, among both positive or negative comments, influence them. However, these issues have a temporary effect. However, these issues have a temporary effect. Although the decisions of organizations like Tesla and Amazon about Bitcoin have a lot of influence on the public which has a lot of positive or negative effects on them, they cannot control or influence it completely.

Short term is the keyword, remember when Tesla confirmed that they have bitcoin as a hedge in their balance sheet? after that confirmation the price rocketed to $50k-$60k, but after that short term effect and because of Elon Musk himself, the price plummeted to lowest low for his year. But the effect is long gone now, bitcoin has been on the uptick as of the last 10 days and we are heading to $45k maybe in the next coming days. So those influencers and news has an effect, but if it is a negative one, it will not last that long.

It is true that bitcoin doesn't really depend on them but it will be silly to not think that they could in fact have a way to have an effect on the price of bitcoin, and since we know that the majority of people only care about the price of bitcoin and do not really care about the underlying technology then the effect of those two different companies is even higher than what it would be otherwise, so even if you do not care about the effect of those two companies that doesn't mean that many other people do.

I don't think that the latest news about Elon Musk and Tesla can affect the strategic behavior of the bitcoin price. The market is trying to find a point of equilibrium in the current situation and anything can happen now. It cannot be denied that the market was very overheated before and therefore the behavior of the exchange rate price was influenced by short-term phenomena such as Chinese events and Tesla's behavior about the purchased portion of bitcoins. Now events from other market sectors should be superimposed on the market, and only after that it will be possible to talk about the short-term behavior of the exchange rate. I am afraid that we are waiting for some correction at the end of the summer, caused by more fundamental factors than the behavior of Elon Musk and Tesla.

That depends. Elon/Tesla played a large part in the correction from $64,000 to $28,000. The prices only recovered due to another rumor involving Amazon (and the subsequent statement from Amazon, which was interpreted as friendly towards Bitcoin). If the trigger from Amazon was not there, then the prices would he remained suppressed. So you can't really claim that if the prices go down as a result of negative news, the impact will last only for a few weeks or months. In the end, it will depend on the overall market condition.

of course bitcoin cares nothing about Tesla and Amazon because us people whos investing in this coin has care.

though Tesla is not part of our concern now yet Amazon is really a  big thing for us to be relief when the acceptance happens.

hope the finally Amazon will accept bitcoin or other cryptos .

if only bitcoin can speak we will know if what is its opinion when giant companies invest in it but pretty sure it will say something negative because companies could have other intentions on why they accept bitcoins  . amazon could pump the btc price but what if they will also change thier mind after wards like what tesla did ? the dump that it will cause can be much higher .
 lets hope im wrong . amazon is said to accept btc but they could accept alts too because some would prefer it for micro transactions  .

Sometimes I wonder why the media is always saying that Bitcoin’s price went up because of Tesla and Amazon or maybe one of these big influencers, because I really don’t see it that way. Of course I do know that these people can make an impact, such as Tesla making a billion dollar investment in the cryptocurrency market, but then you can’t saying that every move they make is affecting the market.

We were already looking forward to an increase even before these companies into the picture. The halving alone was enough to lead to up trend, and moreover there are times Bitcoin goes up and down, so it doesn’t have anything to do with these companies.

Agreed. I never understand the mentality of people who claim that adoption by PayPal, Ebay, Amazon.etc is detrimental for Bitcoin. Who are they to decide that? If Bitcoin is not used for payment, then what is the purpose in holding it? You can claim that Bitcoin is being used as a speculative investment asset and there is no requirement to be used in payments. But I disagree. The value for Bitcoin comes from its usage. If Bitcoin is not used for payments, then it's value will disappear gradually.

Imo, once we mention "demand and supply" nothing else should be talked about as equivalent factors. All events we can think of affect demand and supply, and the price is determined by the balance between them.


When we can't understand something - we tend to call it "irrational". :) I'm not saying I understand the market, but I wouldn't go so far to call it "irrational". I think there's always some rational reasons for the price fluctuations, but it's not easy to figure them out, even post factum.

And this is a real proof that the bitcoin market is very strong, not affected by big companies and even banned from many countries, more than $750B marketcap certainly makes bitcoin not easy to get rid of.

If anything, the recent fluctuations show the weakness of Bitcoin. Hundreds of billions of USD in market cap was wiped out in a matter of few weeks, just because of a few tweets and rumors. Bitcoin market hasn't yet reached the required maturity and until then we will have to deal with such wild fluctuations. And remember that the statement from Amazon was interpreted as somewhat encouraging for the cryptocurrencies. Else, in all probability we would be having another round of bloodbath in the market.

This is done because they want to create false expectations, we must remember that even if the purpose of the media is supposed to inform the public with the facts this is not true anymore, they want to get clicks, they want to be seen, they want to become news themselves and how can they achieve this? By giving outrageous news, that's how, so they create a narrative that the price of bitcoin now is completely dependent on big companies like that and people are going to read their articles and watch their videos to see why this is the case, when in fact the price of bitcoin just has its own dynamics and doesn't obey anyone.

some of the big media have a strong influence on bitcoin fundamentals and many are manipulated. the news that is issued sometimes slightly corners bitcoin. all arranged in such a way. FUD is widely spread and then some Good news is also spread to control market fundamentals. Bitcoin doesn't care about anyone, it's single bitcoin and doesn't depend on anything else.

Tesla is trying to manipulate the crypto market just like what Elon Musk also did. But unfortunately, things don't come out exactly what's on their plan. Even Amazon has leave a big impact on bitcoin but later on, the price still recovers.

This just proves that bitcoin is not relying any one or any big company to create an upward trend. Remember that China has also leave a huge impact into bitcoin and resulted into a long dump but through positive news and great opportunities offered to bitcoin, its price still manage to recover.

Back in the day these announcements would shake the price for sure.  Now, meh.  Alts get affected with major business linking themselves to a particular crypto, but it's almost expected when you hear them linked to bitcoin.  I mean it's pretty inevitable now if they want to be relent in terms of the crypto sphere they will need to accept bitcoin to some degree.

this can be true because apart from Elonmusk/Tesla and amazon there are other factors that strongly support price changes, namely traders.  whether it's using signals or personal predictions, which of course always use support and resistance points.  if the price hits support, of course, traders start buying slowly and this will directly make the price go up.  although to be honest I'm more sure news from Elonmusk, tesla/amazon so influence the market.  like last May where the market was bleeding for a few days

Everything you say makes sense, because if we look at the few times Bitcoin was manipulated, then the price fell quite deep. But not long after
Bitcoin managed to recover again, this proves Bitcoin does not depend on big companies to grow. Because Bitcoin is decentralized, it means that
no one can control Bitcoin. This is what finally upset China and spread FUD to make Bitcoin die. But China has always failed to make Bitcoin die,
this is what ultimately makes the trust of many people increase in Bitcoin. Then Bitcoin will always grow and increase in price, even though big
companies don't support Bitcoin.

That's exactly the part OP has refused to admit, you can say bitcoin doesn't care about Elon musk and SpaceX when the two are playing huge role in bitcoin growth and development.
Some weeks ago when Tesla announced that they may cease operation of car purchases using bitcoin, we all saw what damages that happened to bitcoin and many altcoins blead the value out. That's the power of influence of a successful man in business, though I don't like him 8)

I think when Bitcoin was manipulated there were a few things that happened simultaneously. Whales could have manipulated the price down, but then the herd lost their nerves I guess as when Bitcoin crashed hard, it was always the case that the market felt quite overheated anyway. It is not like Bitcoin totally crashed out of a sudden and nobody would have expected that. It sometimes did drop more than people expected, but anyone became more careful with buy orders out of a sudden anyway.

What is happening with bitcoin at this time of course there are many factors, in my opinion the most influential are influencers like Brian Armstrong and others who actively provide a positive side about bitcoin. besides that of course the role of the ICO project that makes the use of bitcoin continue to skyrocket.

Many things can happen when Bitcoin is manipulated, sometimes because it is manipulated, the Bitcoin price drop is often drastic. This is what
makes many investors panic and sell their Bitcoins at a loss. Even though investing in Bitcoin requires patience, which is a market dump situation,
there is no need to panic too much. Because of how deep Bitcoin falls, it always rises again, and can rise to a higher price. So there is nothing to
worry about if the whales manipulate and make the Bitcoin price suddenly dump, but Bitcoin can always recover again. That's what causes Bitcoin
trust to increase.

Yeah, Bitcoin price doesn't care much about Tesla or any other company now. It doesn't fluctuate too much like the old times when these companies make a statement like they are going to hold Bitcoin or to accept payments with Bitcoin. I like that the market is getting more resistant against these kind of manipulations.

It's just a simple demand and supply logic and you will get the results.

But it seems to me that nobody wants to ride the hype this time after Elon did some statements after leaving Bitcoin that causes the market to fluctuate down and it's clear to the investors that Elon is just manipulating the market that's why they won't want it to happen this time again.

Plus the News supported it that Amazon has no interest in investing Bitcoin or not accepting Bitcoin as a payment that's why there's no fomo this time. One thing that got me thinking about what makes the market to suddenly pump this time? I know there's a lot of factors for this to happen but it's just too much or did I miss something.

It's not really manipulation.  The price is driven by individual investors who are trying to get rich or FOMOing in.  When a company would announce they were accepting bitcoin, the speculators would pile in hoping to make a quick buck on the hype of "mass adoption."  To the extent these types of things don't happen anymore, it's because it's just too big at this point.  "Adoption" isn't really a driving force anymore in the price because the speculators can't buy enough to meaningfully move the price.  It just takes too much money at this point.

Patience and especially stress resistance. You need to have the mental state to watch your investment go down by 40% and still keep your fingers calm. Understandably, many people lose their nerves and out of a sudden feel the urge to save whatever there is left that can be saved in that moment. It is definitely hard sometimes to be into Bitcoin. ;)

It's just that a relatively calm time has come and investors have calmed down for now, because the big players themselves are tired of the frenzied volatility and decided to take a little break for now. But I assure you, this will not last very long and when some global financial or cryptocurrency events occur, the crypto market will not remain indifferent and a very cheerful autumn awaits us. It's just that when the market is inflated, there is a hysterical reaction to any event and the cryptocurrency market, due to its youth, is no exception. Therefore, I am not sure that the market has matured and become very stable, so future news from Tesla and Amazon will shake up the market more than once ;)

I agree and we are actually ver far from having a stable a crypto market. The dynamics in the market might also lead to crypto never becoming a more stable market. When you have some innovation in the car industry, authorities inspect everything closed and either allow a certain innovation or not. In crypto this different because it is unstoppable. You can't regulate something that you on the one hand don't see coming in the first place and on the other hand don't know where to go to because innovations are published as open source code in a decentralized manner. This will cause an ever ongoing uncertainty that will ultimately lead to market volatility. That is just my stance on it. I am not mad about it, I am happy to be part of this as Bitcoin or the Bitcoin code seems to be the sincerest realization of the freedom of speech principle we have seen so far. You can't stop it, you can just try to undermine it.

I agree. In the long run, Bitcoin doesn't really care if Tesla or Amazon backs the coin. In the short term, however, it does matter, because depending on this, the purchases or sales of Bitcoin increase, depending on what the companies do. This has been seen quite impressively recently.

Yup, actually even if we say bitcoin doesn't care, most of the investors, the one who move the market, care about those news regarding tesla, or amazon. That's why the price move, going up or down regarding it. Although most of people here hate it, calling it manipulation, well, it's not manipulation. It's not like they do something directly to manipulate the price, in fact those investors or bitcoin buyer are the one who follow the words, fomo, and thus making the price up. But it's getting old sooner or later, the price won't be moved just because of that anymore later on.

Bitcoin itself may not, but the people who hold bitcoin or will buy bitcoin do care about them. Bitcoin itself is just a product, like paper money for example, it doesn't matter what it thinks because it is an inanimate object, what matters is how people use it.

For example for decades now, maybe over a century who knows but certainly in today's day and age of technology we all KNOW the fact that every human on earth could live a decent life, we have enough resources to provide shelter and food and clothes for everyone, sure rich could buy yacths and mansions and expensive stuff, but at the bare minimum we can provide food and shelter for everyone. What do we have instead? Poverty, wars, sickness and trouble, why? Because some people want more than what they can spend in 100000 lifetimes.

Crypto is no different to that problem, and that is why Tesla or Amazon doing something about bitcoin matters the most, because it is not about what bitcoin is but about what you do with it.

Nothing is easy indeed to invest in Bitcoin, especially with its volatile price, it requires resistance to stress. Because I feel for myself how strong
mentality is important when deciding to invest in Bitcoin. As you said, it is not easy to face a decrease of up to 40% in a short time, it takes patience
and strong mentality, so that we don't stress about it. That's what a lot of study and practice is for, in order to form a strong mentality to be able to
face the market which sometimes looks scary.

Much like the saying "a stock does not know who owns it" - you're right that Bitcoin will not change based on the short term desires of new owners or people who think they might be able to tell which way the wind is blowing tomorrow. We've seen that it is a heavily erratic asset but I would actually disagree with the title of this thread. On a macro scale, the fact that companies like Amazon and Tesla hint at accepting payment in a certain format is bound to give credibility to Bitcoin. Amazon is the biggest online retailer (outside of China) and if people see that it favors certain payment methods that they can invest in - the masses will flock to it. Some people might have little faith in Bitcoin but a big name like Amazon lends it a huge reputation boost if there is even a hint of "endorsement".

I agree with your opinion. Bitcoin price doesn't care about big companies like Tesla or Amazon too much anymore. It was not the case before. Tesla's actions affected the market at a high rate a few months ago. Not many days ago, Elon Musk said that Tesla would start accepting Bitcoin payments again. But it didn't affect Bitcoin directly right after this statement. This proves that something has really changed.

With this presentation, it indeed reflects to Bitcoin seeing it as another way for dealing transaction more on good positive turns, considering the fact that those billionaires who owns this businesses also have good circles of friends who along the way can adopt and start using this system as well.

We do need to see both sides of this, and weight which would help in the long run. Partnership will create a good path for Bitcoin we can deny that fact.

Well.. investing in Bitcoin is not the same as investing in other assets. Because we all know that Bitcoin is a high-risk asset. So Bitcoin going down by 40% will create more nervousness for the investor, when compared to a situation where his stocks go down by 40%. Also, with the stocks, the prices in the long term depends on the financials of the company. If the company is having good financials, then eventually the prices should recover. No such thing can be said about Bitcoin. If the prices go down, then there is no guarantee that it will recover.

Wait, wait, wait, waaaait, guys! :) Now I'm completely confused. 

When it is said that "Bitcoin doesn't care" about a thing, Doesn't it imply that, in fact, Bitcoin investors don't care about that thing?

OP's point is that "big news", like Amazon/Tesla accepting/rejecting Bitcoin can affect the market only short term, and I personally agree with this. Don't you?

Despite the technical analysis, we can't deny the fact that Elon Musk and Amazon indeed have an impact on the value of bitcoin. I know that bitcoin's nature is volatile. It always is and therefore anyone in crypto must know that it is usual for its price to pump and dump at any time of the day. However, whenever Elon releases a statement regarding bitcoin, the price of bitcoin in the market always moves. This is due to the fact that Elon Musk has a big fan base and followers that keep track of his prediction. These people are the typical ones that follow the hype and baseless information without counterchecking on their end. Hence, the prices in the market move either upward or downward base on the information they have heard, they will sell or buy. They cause fluctuations on the price charts most especially the newbies that just follow the trend without doing technical analysis at all.

In addition, the mass adoption of bitcoin really did impact and is continually making an impact on bitcoin's value. Because of bitcoin adoption, soon enough more people will be interested to invest in bitcoin which can lead to price increase due to increase market demand.

I would not say that BTC does not care about Tesla or other companies whose influencers manipulate their messages to the markets. As we could see, the BTC price reacted negatively to Elon Musk's statement that he would not accept BTC for payment for Tesla goods. And also after his statement that he is even ready to accept BTC if it, in turn, becomes greener, and lo and behold, the price of BTC eventually began to grow. Of course, we can say that this is a coincidence and so on, but at the moment we have facts of influence on BTC. So to say that BTC is all the same to such statements is at least not correct. Still, at the moment, BTC is dependent on such statements and I would very much like this not to happen anymore.

Of course, it was never the purpose of bitcoin nor the goal to serve giant companies like Amazon or Tesla. The fact that bitcoin is getting moved up and down by the news is due to “investors” getting influenced with that. It’s very obvious thing that investors would believe bitcoin because real companies are utilising it and giving it a firm reason to make viable investment.

Bitcoin, Neither depends on billionaires nor the giant tech firms but honestly speaking both of them are resulting factors into what it is today.

I agree not to equate investing in Bitcoin with other assets, because investing in Bitcoin is much more risky. So it's not necessarily people who
have succeeded in investing in the stock market, will also be successful in investing in Bitcoin. The price of Bitcoin is very volatile, so it is normal
for the price of Bitcoin to fall very deeply or even rise very high, things like that happen over and over again. Since there is no guarantee that
Bitcoin will recover, so it is very wise to always invest money that we can afford to lose. If we want to be successful investing in Bitcoin,  we must
be willing to continue to learn, in order to understand how Bitcoin works.

Agreed on the market situation at present. Bitcoin was developed in such a way to serve all levels of people providing the freedom. Now this is getting to be more influential by the tech firm adoption and statements out of billionaires and high profile personalities. Maybe this situation will change, and the present market variation might be the result of market getting maturity.

I have heard this argument a lot of times that in Bitcoin we should invest only as much as we could afford to lose. But my personal experience is different. Back in 2013/14, one of my friends got so much addicted to Bitcoin, that he took loans to invest in it. And at that time, the exchange rate of Bitcoin was $800 per coin. Two years later, the price stood at $200. Luckily for him, he didn't sold any of his coins, as he had faith in cryptocurrency. And now he is at 50x profit, when compared to the purchase price.

Bitcoin is a popular currency for investing in crypto and investing is risky bitcoin usually tends to rise based on its demand. Tesla and amazon have no influence instead tesla and amazon started introducing bitcoin to improve them bitcoin investing is profitable and the wise thing to do is to hold on without selling a friend of mine who held bitcoin in 2018 has now made a few bucks. That's why we have to move forward with confidence to invest in bitcoin tesla said that in the near future it will start accepting bitcoin as a payment for its products.

A company like Tesla would have to dump coins (be it bitcoin, DOGE, or something else entirely) on a daily or at most weekly basis to enable them to continue to send and receive goods from manufacturers and distributors alike.  Tesla may have a vertically integrated to the customer business, but eventually, they have to pay outside vendors.

With the price of bitcoin fluctuating daily, I wouldn't be surprised if Tesla has to cash in daily.

Thank you for sharing your personal experience, of course there are lessons we can all take from the experiences you have shared. That trust in Bitcoin
will lead us to be able to enjoy big profits from Bitcoin. But to be able to have a high level of trust in Bitcoin like your friends is not easy. It takes
good knowledge of the crypto world, and also how we control our emotions when investing, it helps us to be more patient when investing in Bitcoin.

The good news are indicators for the pump and if there are bad news such as the oposite of those acceptance from these companies, you'll see that there's going to be the dump.
It's normal to see when the price goes up, there will be people selling for profits.

I would argue hat mainly depends on their profit margins and Bitcoin's average volatility for a specific period of time. If Tesla were willing to accept a certain speculative risk, which I don't believe because they won't be interested in turning their profitable car business into a speculative hedge fund sort of thing just by accepting cryptocurrencies. Way too dangerous during this phase of their corporate lifecycle and also probably not what shareholders want.

You'd also have to factor in just how large a narcissist the car sales man is and how much control he has over the brand, board of directors and the shareholders.  If he felt he could push the price of bitcoin sky high for a second time, then it's possible (just possible) that Tesla may indeed be stockpiling some of their earnings with a view to cashing in when the price gains momentum (or, selling at a higher price than when they were first acquired from car sales)

Bitcoin's price fluctuation is not entirely affected by technical indicators, it will also be affected by some social news.
When Musk declared to accept Bitcoin as payment, the price continued to rise and remained at that level for a long time. When negative news appeared, it was vulnerable to negative news and the price fell. Although the impact of these news on Bitcoin's price is temporary, these major events and the operations of some large companies will definitely have a huge impact on Bitcoin.

Absolutely not. Bitcoin does not need the support of large institutions in order to survive.

Of course, the more merchants that accept and adopt bitcoin, the better, but no single entity is large enough or powerful enough to say that bitcoin is dead or bitcoin in unusable. The U.S. government cannot do this, so why could any other corporation that is under their direct supervision?

Sometimes market behaviour baffles me.

Public figures certainly have an influence but not significant, I'm sure when the price of bitcoin fell not because Elon Musk gave a negative opinion about bitcoin, but because many countries rejected bitcoin the big one of course was when the UK refused Binance to operate in the UK.

For me, the impact of Whales is still there and significant, however volatile crypto prices are actually when compared to stocks in terms of price movements, there are 2 influencing factors, namely technical and fundamental.  The negative issues given by the Whales will indirectly disturb the psychology of other investors, resulting in FOMO.  If there are regulations that also burden the market at that time, it is a fundamental issue that will have a fatal impact on crypto.  But the problem with Binance seems to be not only in the UK but in my own country it is banned and this is not a fundamental issue I think.

News that comes out definitely helps spread words about Cryptocurrency and eventually could help the existing price action. I know that many of us here really hates how Musk spread Fud about BTC that leads to sudden price declination but we have to remember that Elon spread the word in his 59M followers in Twitter. I doubt that this price action however was because of Tesla and Amazon itself. I believe it was due to Twitter CEO Jack Dorsey talks with Elon and Ark Invest CEO Catherine Wood which leads to FOMO in newcomer investors.

That very much depends on who the public figure is and whether that figure acts within its space of expertise. When Musk talks about crypto that first had a massive influence because of his wealth and outstanding achievements in other areas (except for PayPal, which is kind of similar). When Bill Gates talks about software or computers (or Steve Jobs for that matter, were he still alive), that does have massive influence. Or Buffet, when he talks about stocks. Interestingly, we could see that Buffet's negative stance on cryptocurrencies had zero influence, literally zero, because it is not his area of expertise and everybody knew that. Nobody would easily attack Buffet for his opinion on stocks as this dude knows what he is doing, but when it comes to crypto everybody really knew he is a newbie with a skewed agenda on top of that.

Tesla and Amazon are some of the many things that make bitcoin price movements. In the past there has been news about China supporting and banning bitcoin, and they keep doing it that causes the price to go up and down, The late John McAfee with bitcoin which made the bitcoin price go up almost like Elon Musk did, and because of that i think me who only hold bitcoin only can see it and keep holding, and without it bitcoin price sometime can be increased too because we have strong community and it is proven until now.

Yes, the impacts of whales can be experienced over the market whenever there is some positive or negative statement from them. This is all because of being influential and holding a big volume of cryptocurrencies. Regulations from countries at present doesn't look more supportive to growth, because of the ban that is getting implemented over.

Those are just sentiments but doesnt mean that they are the main reason on why bitcoin had made out some significant price increase or price dump since the movement is way too unpredictable
but since this market is highly reactive to sentiments then its just normal to presume that those are the primary reason on why we do reach out some certain level.
Talking literally about bitcoin have some care about tesla and amazon? No it doesnt care because it could increase it price with solely talking with adoption and recognition
but we cant really deny that bitcoin do really need more that certain extent to expand more.

if you look at it from another point of view, it is precisely with the whales that make positive or negative news that ultimately affects the movement of bitcoin, this is actually an interesting time to make money, because we know the crypto market until now cannot be separated from such events.

It stems from the market's getting bigger and bigger every day. As the market and Bitcoin also become stronger, it is getting harder to manipulate Bitcoin price. We had another example some time ago.

Elon Musk talked positively about Bitcoin but the price didn't even care about it. It was still standing where it was. So, I guess that Elon Musk or any other person have come to realize this. If I were them, I wouldn't try to manipulate the market anymore.

Companies like Tesla and Amazon can only help Bitcoin adoption reach higher levels from now on, I think.

Well yes, that is definitely a possible scenario. The thing is though I don't know how silently Tesla as a publicly listed company would be able to stockpile Bitcoin in large quantities. If for some reason the bet doesn't go well, the narcissist probably knows that he would be in a hell lot of trouble. I guess even the narcissist knows that! :D $1.5 billion isn't much for Tesla, even if that went wrong not too much would happen to him as the boss of the company and his status within that corporate network. If he places a bet on Bitcoin that is of serious significance on Tesla's balance sheet, that might be a dangerous game to play even for him.

There are times that it's really connected to those news and events but there are also moments that it's not. It's not only the whales that moves the market, giving highlight to the news.
You've forgotten that it is the medias job that gives result to the news that they bring. Usually if the news are negative, yes, it's a dumping chart that we're seeing but when it's positive and that news from a known company, expect a rise.

Man i reallly really don't want greedy companies to involve bitcoin , yes ! when tesla accepts bitcoin we have seen the price growth but what happened after all ? This is gonna be worse if they keep coming , they don't care about technology or money revolution in the end they will harm this ecosystem so hard . I love bitcoin because it is not belongs to banks or goverments . It belongs to people !

Large institutions will have a certain influence on Bitcoin. When Musk announced his acceptance of Bitcoin payments, it pushed the price of Bitcoin to rise.

These events will cause market sentiment, which in turn will manipulate the market and affect the price of Bitcoin.

If they don't get bitcoin, I wonder how you and I will be discussing about increase in price of bitcoin and market generally.
The thing is, an average or individual person don't have such money to pump bitcoin, where do you expect billions to fall out from? Definitely from reputable companies and even when they plan to buy, they do so in silence, and make announcements as soon as they gain enough bitcoin they have there hands on.
By the way, Elon became the richest person today and I hope SpaceX will do more pumping  :-*

Regular people, like you and me, can theoretically pump the price because there are billions of us, and together we surely can do something significant. In practice, however, most of us don't think of ourselves as of financial experts, and rightly so, because we are not. So we tend to look at what big companies are doing and copy their steps. We shouldn't blindly follow those companies, bc they can be terribly wrong sometimes, but most of the time they are right.

Speaking of Tesla, look how many Bitcoins they are still holding:

https://i.imgur.com/diQDIn8.png

There is more possible chances for price pumping through the billions of us, but it isn't possible like what Elon Musk did. Each and everyone doesn't have the same thinking as others. There'll be difference of opinion on the plans of holding, and the market. This will not cause a combined move. When it comes to Elon Musk or other firm it is possible for them to move a big fund on a single person's decision. This could drag the market easily.

Bitcoin and cryptocurrency market is usually influence by both technical and fundamental analysis. In my opinion fundamental create impact more than technical when it comes to cryptocurrency market. Therefore Tesla and Amazon news still have effect no matter the technical.

it is true that tesla news and announcements from the very beginning can greatly affect investor sentiment, but over the years it has become boring and no one cares about the That's because we've all mastered our emotions now.

It is basically because people are investing into it like that is some sort of very important thing and I understand it, it is logical to have something like that. Gold has been a thing for a while that people mainly use to invest and store value, because even if inflation hits, if you have gold then you are usually fine. What are they using it nowadays? I mean sure they use gold mostly but bitcoin is not too far away, eventually we will get there as well.

It means maybe we may not disturb dollar one day, or not central banks or even any bank but one day we could totally disturb gold and its prices because if you remove all the investments on gold and just keep the people who buy gold because they use it? Then gold prices will be very low and that will make bitcoin prices quite high, that is what I believe will happen and that will probably be what happens in the long run.

Not all of these years, the Tesla news just came lately and for the past months for this year. And there's still sentiment for these news but as time passes.
Most people, the investors doesn't care anymore with it because of being fed up with news and playing by these large companies to the crypto market.

Yes, we could say such thing but the truth is that when these sentiments goes out to the market then it do still make those significant impacts because not all people would be sharing up on the same idea and emotion

about ignoring these kind of news specially if big companies and popular personalities would really take involved into this market.It was never an assurance that people would just simply ignore and wont making any actions.

There would be still those people who do love to play with Fire.One things for sure that Bitcoin doesnt really care on anything as long it does have the demand then it would continue to exist.

That's true, bitcoin will continue to make itself know for most countries and companies despite there will be some of those influential people telling bad about what they think on it.
Ignoring such means that you're already mature on this market if you've been here for so long and those are usually the news that comes in just to move the market prices.

Yeah, I do agree that bitcoin doesn't care about specific companies, but we do? I mean when we heard that Tesla bought so many coins, or Microstrategy did, not only the price went up because they bought some, but the price went up because we bought some because they bought some. I know that sounds weird but I said it right.

There are people out there who buy bitcoin because bigger names bought it, biggest example is Elon Musk making dogecoin known, it was a useless and worthless coin and now people are thinking it is something... it is not something, it is still quite useless and still worthless but people put a value on it just because Elon said so. Basically that's it, we should not be really caring about it at all, we should be just doing our own thing and not care about these rich companies and people but unfortunately there are so many that still does it.

Bitcoin price could heal its own. The general public cares too much about influential people as they have more networks and power that make them seem more reliable. The community increases each day; these companies also do think that this technology has potential. Don't let them control your decision.
Let's do our own research and avoid manipulators.

Well this was true when bitcoin's price was below the 10k but after bitcoin has gained a lot of popularity and everyone started using it as an investment and way to make quick profit by trading it, it has become largely influenced by news, sure on the long term it is still on the rise but most people don't have a long term vision for it and they want short term investments that make them profit because no one knows what the future holds, so people go about investing based on news like we saw with Elon Musk and Tesla and Even with the Chinese government banning mining.

What made bitcoin more popular is the news that institutional investments are coming in, which means big companies are buying bitcoin and holding it, people are hyp because they believe that in the future it will result in massive adoption and demand just continues from the investors.

There's no huge demand yet on the usage as bitcoin is not instant and transaction fees are not cheap, but hopefully, in the future, it will be able to provide the requirements to make this a more competitive currency, especially for micro transactions 

I'm not sure about that. Look at the daily trading volume of BTC: it's over 30 billion USD for the last 24 hrs, today, for instance. Trying to manipulate market with volume that big is a pretty risky endeavour. You can lose a billion or two, while the market will be back to where it was before your failed "manipulation" in a day or two.