Bitcoin price will double on this news

[TeeBone]

Bitcoin needs another monster wave of speculative bagholders for the pyramid to continue. Will that ever come, who knows. Til' then...Russia, Paypal, and every other boogeyman the btc shills throw at you dont mean shit.

[Hunyadi]

Nowadays everybody dismisses this saying that price isn't affected by news.

Back when news did affect price people would have said that it would affect news.

IMO news affect price but there might be some time lag.

[lyth0s]

Nowadays everybody dismisses this saying that price isn't affected by news.

Back when news did affect price people would have said that it would affect news.

IMO news affect price but there might be some time lag.

News affects people's view of the long term usability of Bitcoin instilling investor confidence and buy orders. News can affect bitcoin price, whether or not bears like to admit it. The stock market is not immune to news, why should bitcoin be?

[Miz4r]

Of course news can affect price, we've seen that with China and MtGox for instance. The MtGox fiasco probably did the most damage to confidence and the image of BTC in the public eye and could explain why the price is still in a lull despite all the good news recently. But there are also many more factors involved and markets can ignore fundamentals and stay irrational for a very long time so it seems like news often does absolutely nothing. It also depends on the kind of news obviously, as news about a critical bug in the protocol will have a much bigger impact than some news about some online webshop accepting Bitcoin. I don't know how this particular news will affect the market but I doubt it will immediately double because of this. It could however lead to more awareness to the idea that maybe we do need a decentralized currency not under the control of any governments or big businesses.