Bitcoin Forum

Breezing through some of the facts concerning Bitcoin, it became clear that businesses could influence the price of these cryptocurrency by making it a mode of payment for purchases of products or services. Making it more popular and making more people invest in them.


Read more at: https://editor.guardian.ng/technology/10-facts-about-cryptocurrency-you-should-know/

Other businesses has done this too, and it has also affected the stock market value of these companies. Where businesses make more channels as payment options for those who don't have such cash in account or fear IRA or other regulatory and tax bodies that would trail one with such huge cash bases; the crypto holders acquire properties from the businesses who are ready to accept cryptocurrency as exchange for their products or services, thereby they influence the prices of these products or services when others see this success and subscribe to same means of payments for commerce.

Are there other factors that influence the prices of cryptocurrency? Let's discuss!

Any major headline would surely have an impact on the market price. Big companies, like Tesla, PayPal or Microsoft accepting Bitcoin as a payment option is definitely a big news and would sway trader sentiment positively, increasing the price.

This does not mean Big companies can constantly impact the price or influence how it moves up or down. Elon Musk tried to test the extent of influence he has and eventually lost a significant amount of relevance.

Demand and supply are the main market factors. They in turn are affected by other secondary factors, such as;
• Major headlines.
• A breach or hack.
• Halving event.
• World economies.

Somehow you seem to come with a lot of topics you could have been researching a little, throw some words and "let's discuss". This is not OK. You should put more effort in this, now you just look desperate for meeting a post quota.

Elon Musk's behavior is known. Many no longer care about his announcements and the effects (many of them short-lived) his actions have on the price.
It's not IRA, it's IRS you wanted to tell about. And I think that SEC also keeps an eye on him.

And Bitcoin price... there are too many things that can affect it (some for longer term, some for shorter term): various announcements (like you said about Musk), various actions (institutional buys/sales), hacks, bankruptcies, new businesses opening, halving, ASIC chips/mining gears releases, war (let's not forget it), pandemic, recession... even the stimulus checks the Americans have received did affect the price.

I would say the Hot News are the main fact that affect the markets. Things like:

-A man found his old private keys with 1000 bitcoins on it.
-Faketoshi just win another lawsuit.
-Musk decide to invest $1B in cryptos.
-Ukraine is accepting bitcoin as donations.

That's what I call "Hot News", and that's what really moves the markets, when FTX scandal hit the news we see how the prize start crashing until it hit $16.5k, so, the best way to predict the next move on cryptos is to read the news paper all the mornings.

First, there's no way Bitcoin will achieve its purpose if it's not used as a mode of payment since it was created to complete or enhance financial and payment systems with no borders.
With that being said, there are a lot of things that will impact the price of the Bitcoin market one of them is a big fintech or multinational technology company accepting it as payment or a powerful influencer or celebrity public claiming to invest in it and the same thing goes to negative news either just like we see the impact of the US SEC crackdown on Kraken, Coinbase and Binance.us days ago.

Each and every move in bitcoin is out of the demand to the supply mechanism. Sometimes we feel lucky to have control good bounce in the market and the same doesn't last long. Here we need to understand, whoever the influencer or whatever the positive news, the market can be influenced to some margin. Beyond that it is the users who drives the market.

The prime objective of the bitcoin development is to support the financial transactions cross border without limitation and eliminating the third party. In reality the same have got transition as an investment and on different other purpose. When the objective for which this has been developed is fulfilled we'll experience the real market variations than the influencers impact.

Elon Musk again? Are we still in the year 2022 when everyone believed that such people had an impact on the price? What affects the price are the rules of supply and demand, any imbalance in those rules directly affects the price, news related to companies may affect supply and demand, but this happens because of the nature of this news and not the impact of companies.

Companies can influence through investments, which again means a change in the rules of supply and demand.

Aren't these companies can be called big whales?  It is well known that these entities can influence prices and also manipulate them, had it not been for this being done in a deliberate manner so that no competitor would be harmed and the ship would not sink with everyone.
In general, the price is affected, up and down, by the movement of supply and demand, as is well known. Especially the limited supply in front of the large demand. These elements enable the big whales to easily steer the market and control prices by controlling supply. Those same whales have the ability to publish news affecting the market to influence the market of a particular currency, whether by falling or rising.

I think bitcoin enthusiast are done with Elon Musk and how he influence the price of bitcoin before. And we know that he has his narrative behind so I guess he has no longer that influential to us.

As for the factors that influence the price positively, definitely some good news to come, like let's say big companies like Amazon accepting it as means of payment. Or the US CPI data, which is a good hedge not just for crypto but for any other traditional financial markets. If the CPI data shows higher, then we all affected negatively. But when the numbers shows that inflation is cooling down, then the price might go and increase.

Of course that is a sure thing.  If big businessmen make maneuvers in the world of crypto currency, this will have an effect on the price of the cryptocurrency itself.  Because as we all know that the price of cryptocurrencies is influenced by market demand and it is certain that if large corporations and big business people enter the world of cryptocurrencies then I believe the price of cryptocurrencies will rise.

if a company accepts payments in crypto, it will definitely have an effect because of course many people will buy crypto, but in my opinion most of the crypto prices, ups and downs depend on the value of the community's economy, so if the community's economy is weak, of course, crypto prices will also fall.
but if the people's economy is good, of course the price of crypto will also have a good impact.

Pretty sure it will influence the price of crypto market for short term, but after all it will depends on the supply and demand of the crypto.

Don't be happy when the big businesses want to accept crypto payment, they can easily declare they will no longer to accept it because of the regulations because it was happen on many big businesses in the past. Even they're accept crypto payment, the buyers doesn't actually pay using crypto, although it just my assumptions due to many people tend to use Bitcoin as a store of value.

I am pleased with your words " short term". When Elon Musk announced in July last year that Telsa had sold almost 75% of its bitcoin holding, the market was affected slightly. But the price of bitcoin recovered after a few days.

Bitcoin is gradually becoming immune and independent from these manipulative forces. Currently,y people are becoming more enlightened about bitcoin and they don't care about most of these global business owners that hardly keep promises and can be used as manipulative tools by the government.

So are you saying that anything that can affect market prices are "whales"? With that logic, the US government is a bitcoin whale because they can affect bitcoin's prices due to regulations lol. That doesn't make any sense at all.

I also think that availability of cryptocurrency in the market can also affect its price. When there's a high demand for crypto and it's not enough to give out to the public, price definitely will increase spontaneously.

Yes again the social medias, news platforms and other crypto base forums can affect its price. These days people tend to believe more on what they see on social media and this can influence their choices positively or negatively in buying cryptocurrency.


When new trends are released about a particular coin or crypto currency, and people's views, likes and comments are positive this trend begins to travel until it gets to its highest point which can be top investors or top ranked men in the world and if they like what they hear about such coin. They would want to know more and purchase such coin.

 At this point I can say that the social media has played a very powerful role which has affected the price of cryptocurrency in a positive way.

It's a known fact! Elon did it couple of time where the market had taken positive turn. Warren Buffet and Jemie Dimon did it as well where the market went into negative mode. So yes, big corporations and influential people have influenced the crypto market quite a few times in the past.

However, the good part is that now the market is slowly becoming immune from such negative comments made by the influencers and corporates. The market dynamics are becoming matured with time.

In general, it is the law of economics that when demand is high but stocks are low, prices will rise due to the intensity of demand.

Social media is the first place that provides a lot of information from negative and positive information, so social media is a platform that is currently very influential for crypto, but not only crypto, all platforms will also be affected. When some influential figures or people who have a lot of followers follow up on the coins they like, of course, it will be a trigger for the coin to rise and will affect crypto prices significantly, but it will not last long.

However, some social media users who have a lot of followers also need to be aware, there are some of them who only think about profit by inviting their followers to buy and enter certain crypto projects, even though these projects cannot be trusted and eventually scam.

Perhaps Elon Musk can be an example that he was very influential in the recent rise of DOGE. When he makes a status about DOGE on twitter, then DOGE will immediately pump and after that dump. like pump and dump practice. But not everyone who has money will be influential, only people who are considered important in crypto can make such things.

You also forgot to mention that social media will backfire and affect cryptocurrency prices in a negative way and will make the crypto market crash instantly, just like the FTX incident last year that was trending on social media, which then became a negative case that received attention from all crypto users.

Cryptocurrencies like bitcoin will only become successful if they become mainstream and adopted by the normal world. This means it includes these big businesses too since they are usually the gateways to ordinary people like us. Businesses as well have to be innovative if they want to continue on top of their markets and last long. There are many businesses that are considering cryptocurrencies already and many of them are just waiting for the go signals from different governments since they need to follow its rules and regulations.

CEOs have more affect on Bitcoin price than businesses per se. If it weren't Elon Musk's crazy character and tweets, announcements alone that Tesla or x company accepts bitcoin wouldn't have a significant impact.

By the way, crypto is part of our daily life, it's part of this world and it's pretty massive. But the the problem is that it gets affected easily. For example, if not so well known exchange in any country gets hacked or something similar happens, it can affect the whole crypto industry and the result can be brutal, it's very sensitive.
At the moment, it can be affected by:
1. Very famous and influential people, like Elon Musk
2. By governments
3. By inability of exchanges to securely store assets. At the moment the only exchange that can seriously affect bitcoin's price is Binance.
4. By scam projects, I mean something as big as Bitconnect.
5. By bitcoin mixers and I mean, for example if Chipmixer scams all the people or it gets seized or something bad happens, it will definitely affect the price cause I assume it's volume is pretty big.
6. By purposefully and intensely giving it a bad reputation in mass media.

Maybe it's true that businesses that accept crypto as payment can affect the price of crypto, especially now that many businesses are starting to do it. And business people have also realized that crypto can not only be an investment but can also be used as an alternative payment. But still, in this case, businesses will always look to the government for more information about how the government is doing with crypto. And if the law from the government says that crypto cannot be used as legal tender, businesses can't do anything either. Business people and their businesses can only comply with these regulations because they live in their country and are subject to applicable laws.

I believe in most notorious cases, speculators use businesses and companies to manipulate bitcoin's price. At least that was how Elon Musk used Tesla to boost bitcoin price, by introducing it as payment method for his cars, but removed the feature and badmouthed bitcoin right after, what triggered a crash right after on the market. The conclusion I take from that is: his goal has never been to adopt bitcoin as payment method. He simply wanted to make some fast profit prejudicing lots of investors.

The main factor that influences prices here is speculation on its essence, even if it comes camouflaged as payment method adoption by big companies...

The cryptocurrency market is in a position that we do not need further adoption by companies to get people to check what BTCitcoin is all about, we are way past those thresholds and anyone in the financial sector is well aware of the cryptocurrency market. The main aspect that moves the price is always institutional investment and moving forward, institutional investors will determine the major price movement.

Price influences, depending on the size of course, is not something that is permanent, which means that they could influence it for the period that news is relevant, but after a week or a month, it will become old news and the price will be whatever it wants to be.

There were times when a big company accepted bitcoin payments, which made it go up for like a week but that's it and nothing after that, and then the same exact company took that off, and it dropped for a week but that's it, nothing more. So, these do impact the price of bitcoin there is no lie there, but at the same time it doesn't do it for a long time, just a sudden flash change, then nothing else.

I agree with this, remember the time that Elon announce that he holds some crypto in Twitter and then in an instant  many people invest after? and then he announce that tesla will accept bitcoin as well, many institutions attracted to bitcoin and then they invested to it, it happen last 2021 if I'm not mistaken influence people can make a certain coin like Doge to be hype in a certain period only but in marketing this will not last any longer it needs to have a continuous plan for it and yes the supply and demand has the biggest factor in the price of a certain token or coin as well.

Don't think it can influence a lot at all of this

Demand and supply is the basic factor that will affect the price of bitcoin. Businesses can also affect the price but it will be in short term,because bitcoin price is fine even without the businesses accepting it as an alternative means of payment.

Halving,crashes of exchanges and the world economy will all affect bitcoin in short term. Bitcoin has survived so many of these,bitcoin repeats it movement pattern in every four  years,this shows that no matter the manipulation in the market,bitcoin will resist it.

Businesses that accept cryptocurrency on a large scale can affect the price of crypto, it brings volatility to the market because there is demand when the customer buy Bitcoin to pay for the merchandise and there is supply when the merchant decided to sell the bitcoins that they accept and the process repeats.  Even in an automated system, the moment there is a buy on the product of a merchant and uses Bitcoin as payment it bring demand to Bitcoin but of course, it cannot be felt if it is only on a small scale.

I do not know how you understood my idea, but what I meant is that the big whales can be responsible for some price movements, and it does not mean that they are the only ones responsible for that. When I say big whales, I mean those giant companies that own huge amounts of bitcoin or are able to buy huge amounts of money in record time. You can imagine what could happen. Those same whales can influence the price in other ways, including spreading panic and fake news.
There is no similarity between the big whale companies and the US government, but both can influence the price in a different way, and the government should not be called the big whale, just as it is not permissible to call the companies a "government".