2021-04-14 Yahoo : Bitcoin Near $60K as Coinbase Listing Stirs Fresh Crypto Hype

[dihari]

Market Wrap: Bitcoin Near $60K as Coinbase Listing Stirs Fresh Crypto Hype

“The Coinbase hype within crypto, in terms of valuation and its domino effect on other markets” means Wednesday’s direct listing might become “a key catalyst event,” Singapore-based crypto quant firm QCP Capital wrote Monday on its Telegram channel.

Can relate with the market situation right now. Coinbase just making crypto going mainstream on stock traders.

https://finance.yahoo.com/news/market-wrap-bitcoin-near-60k-203836497.html

[Theb]

As of the time posting this Bitcoin is around $63,400 but it has reached $64,800 today which is an amazing thing to see. I know a lot of people will be bullish about this but if you look at the charts the volume is pretty much sideways meaning there are a few people pushing the price. So definitely do not assume this as Bitcoin being bullish again but the prices just reflects to the market reacting or being positive about the listing but other than that there will be no direct affect to Bitcoin and Coinbase being a publicly listed company.

[LeGaulois]

@OP You're too late!

The news is irrelevant now. No idea how he got the idea to post it still.

If you notice the news is 2 days old and the title says "near $60k". As you all know Bitcoin already crossed the 60k line since that news.
If it was to discuss Coinbase"s liting there are already some threads about it

but other than that there will be no direct affect to Bitcoin and Coinbase being a publicly listed company.

That's why I said in another topic, once the media stop to talk about it, the hype will fade and the price will follow, hence I smell a correction coming after this

[Streets 2.0]

Yes, the news has become a little irrelevant against the background of the fact that the price of bitcoin is now more than 61 thousand dollars and has come close to 62 thousand. I think it's pretty silly, in principle, to make some predictions on such a bull market, everyone wants to earn a little before the end of this fair)) I'm sure I shouldn't attach any importance to only one analytics of individual personalities. We need fundamental analysis from the giants of the crypto industry, those who have been in business for a long time and understand this better than others.

[7788bitcoin]

That's why I said in another topic, once the media stop to talk about it, the hype will fade and the price will follow, hence I smell a correction coming after this

I am eagerly waiting for a long time to see a correction in the market and yet we are rallying for a long time without showing any signs of slowing down and now the Coinbase listing gave another reason for the market to go higher, i would like to see a major correction in the coming months and since the bull run started earlier than last run i expect we would see the bear pretty earlier than some of the so called experts are predicting   .

[Theb]

but other than that there will be no direct affect to Bitcoin and Coinbase being a publicly listed company.

That's why I said in another topic, once the media stop to talk about it, the hype will fade and the price will follow, hence I smell a correction coming after this

With what I have seen so far the media have not stopped talking about Bitcoin and I think it will always be that way as they always try to connect everything on the price movement of Bitcoin. Before this Coinbase thing we have companies like Tesla and Microstrategy being linked to the price movement of Bitcoin and before that we have the US Presidential election literally a lot of news have been connected to the price movement of Bitcoin, it makes me feel like they see the price movement of Bitcoin first and then find a news to connect with it after. If there will be a correction happening it won't be from the lack of news we are seeing but maybe from FUD and as well as massive profit taking which would definitely happen.

[stomachgrowls]

but other than that there will be no direct affect to Bitcoin and Coinbase being a publicly listed company.

That's why I said in another topic, once the media stop to talk about it, the hype will fade and the price will follow, hence I smell a correction coming after this

With what I have seen so far the media have not stopped talking about Bitcoin and I think it will always be that way as they always try to connect everything on the price movement of Bitcoin. Before this Coinbase thing we have companies like Tesla and Microstrategy being linked to the price movement of Bitcoin and before that we have the US Presidential election literally a lot of news have been connected to the price movement of Bitcoin, it makes me feel like they see the price movement of Bitcoin first and then find a news to connect with it after. If there will be a correction happening it won't be from the lack of news we are seeing but maybe from FUD and as well as massive profit taking which would definitely happen.

Events would really be inter-connected from time to time and i do much prefer on seeing these things rather than seeing the market rising up without any fundamentals attached to it.

This isnt something new that we are seeing on this market when it comes to Hypes and Fuds that circling around neither those price reactions would come too soon or immediately after
a certain news do comes out but all depends if its either be a positive or negative one.

There are lots of news and events that triggers out this price increase but im already anticipating for some hard  correction anytime soon.

[Kakmakr]

Coinbase going "Public" will only have a small influence on the market, because the buildup to this has already been factored in before the hype started. We saw a small increase in the price a few days prior to the actual event and now the price is going down again.

News like this do not have a long-term affect on the market, because mainstream media will stop covering it and things will return to normal. The long-term affect come in when the institutional capital start to flow into the market.  (We will see a new push when other Exchanges like Kraken does the same)

[Theb]

~snip

Events would really be inter-connected from time to time and i do much prefer on seeing these things rather than seeing the market rising up without any fundamentals attached to it.

This isnt something new that we are seeing on this market when it comes to Hypes and Fuds that circling around neither those price reactions would come too soon or immediately after
a certain news do comes out but all depends if its either be a positive or negative one.

There are lots of news and events that triggers out this price increase but im already anticipating for some hard  correction anytime soon.

Fundamentals? Mos of the cryptocurrencies in the crypto market don't have any fundamentals attach to it as they literally don't have any data regarding their financial information as they aren't companies who have financial statements that can make up fundamentals. The news we are seeing now cannot be considered as a basis for any kind of fundamental analysis as it is more speculative in nature rather and it won't really help you identify the fair market value of a crypto asset. Yeah readings the latest news is good but what is sickening to see is how they attach and related everything to the movement of cryptocurrencies and they try to make it look like it is really the reason why these cryptocurrencies are priced like that.

[Oceat]

I wonder what they are plotting why they have to corelate this news to the market when this is not really the reason why the price is rising. I think people are fomoing just because they know there's a hype from this exchange or maybe not and what if other exchanges did the same? Are we gonna see a new ATH again? But I wonder what makes Bitcoin to break new ATH when there's no sudden reason at all.

[Dilerium90]

I wonder what they are plotting why they have to corelate this news to the market when this is not really the reason why the price is rising. I think people are fomoing just because they know there's a hype from this exchange or maybe not and what if other exchanges did the same? Are we gonna see a new ATH again? But I wonder what makes Bitcoin to break new ATH when there's no sudden reason at all.

I think, that in a growing market  any positive news is perceived better and affects the growth of all market. The entry of the conibase exchange into the American market is the most important event of this year (in my opinion). I do not think that it greatly influenced the growth, it just threw firewood into the growth furnace.

[Streets 2.0]

Unfortunately, the entry of Coinbase on the exchange was overshadowed by this hateful twit for many, which caused a panic sell-off. However, these temporary events will not spoil the historical moment and its results. Capitalization is simply cosmic, judging by the statistics. Investor interest persists and no bad news or false twits will stop this process. The legalization and exit of cryptocurrency into the legal plane are taking place in different countries. This is the main thing in my opinion.