Small dip in BTC price after Trump stimulus tweet

[tomahawk9]

To those wondering why the BTC price went down a bit today, here's the reason:


https://twitter.com/realDonaldTrump/status/1313551794623127552 (Click to read the thread)

a few minutes later, BTC price went down:


Source: https://www.coingecko.com/en/coins/bitcoin

same behaviour in the stock market:


Source: https://finance.yahoo.com/

thoughts?

[Oshosondy]

The fall in the bitcoin price so far is not much, I do not think this should be a matter of discussion, assuming the price really dropped, it would have attract analysts. I do not think the fall is as a result of Trump's tweet at all. Bitcoin have been moving in this prices trends for months now, it should not be any surprise at all, bitcoin is still doing well with a support at $10000.

[DarkDays]

Trump is such as an irresponsible guy, at least that's one way to describe him. The stuff he blurbs out and what he does are so immature, so unlike a leader and what frustrating most of all is that his reckless actions have all these other domino-effects on the rest of the economy. This comes in shape of both the traditional stocks and shares market and now as crypto as well.

There are just so many more consequences that this guy causes without taking any responsibility at all, because he's already a millionaire and he can say whatever  he wants without incurring any repercussions himself. The US political turmoil will no doubt continue to affect the markets. Here is an insight of some potential outcomes.

[gabbie2010]

The fall in the bitcoin price so far is not much, I do not think this should be a matter of discussion, assuming the price really dropped, it would have attract analysts. I do not think the fall is as a result of Trump's tweet at all. Bitcoin have been moving in this prices trends for months now, it should not be any surprise at all, bitcoin is still doing well with a support at $10000.

The fall might not be massive as you rightly said however the price was around $10700 before the tweet and now $10540, I believed the tweet had an instant impact on prices of stock likewise, both prices fell exactly at the same time when the tweet was released this really reinforce the fact importance of fundamental news in the stock or cryptos can not be overemphasized I hope the price  doesn't drop down below $10K and continue to maintain its stability above $10K.

[DeathAngel]

Most likely whales trying to use this news to sell a load of coins in the hope weak hands & noobs panic & sell too.
Quite embarrassing behaviour if so, I don’t see why the market should care if Americans aren’t getting more free money imminently.

[samcrypto]

Most likely whales trying to use this news to sell a load of coins in the hope weak hands & noobs panic & sell too.
Quite embarrassing behaviour if so, I don’t see why the market should care if Americans aren’t getting more free money imminently.

Indeed, whales are moving on every US news and this statement of Trump should not affect bitcoin directly but since people created panic to make bitcoin more cheap, this news becomes a big deal for cryptomarket. I wonder how this tweet affects the presidential campaign of Trump, looks like he’s on a recovery mode.

[Gozie51]

Trump is such as an irresponsible guy, at least that's one way to describe him. The stuff he blurbs out and what he does are so immature, so unlike a leader and what frustrating most of all is that his reckless actions have all these other domino-effects on the rest of the economy. This comes in shape of both the traditional stocks and shares market and now as crypto as well.

The country known to be the most powerful in the world is US and her President is also known as the most powerful in the world. Then w need to know that his speech or action is also powerful. Meanwhile, Trump is not the only American President that has caused certain changes because of making tweets. Obama also caused the forex market to tumble by making little tweets.

[Twinkledoe]

The fall in the bitcoin price so far is not much, I do not think this should be a matter of discussion, assuming the price really dropped, it would have attract analysts. I do not think the fall is as a result of Trump's tweet at all. Bitcoin have been moving in this prices trends for months now, it should not be any surprise at all, bitcoin is still doing well with a support at $10000.

The fall might not be massive as you rightly said however the price was around $10700 before the tweet and now $10540, I believed the tweet had an instant impact on prices of stock likewise, both prices fell exactly at the same time when the tweet was released this really reinforce the fact importance of fundamental news in the stock or cryptos can not be overemphasized I hope the price  doesn't drop down below $10K and continue to maintain its stability above $10K.

If this tweet has really something to do with the sudden drop, then it means the crypto market is influenced by powerful leaders like Trump. What if the tweet comes from a third world country president? I don't think it will have an impact in crypto market. But I am still wondering if this kind of tweet has really impact in crypto. Is it just coincidence and there are other underlying factors why bitcoin drop a lil bit?

[GreatArkansas]

May you enlighten me why?
What is the connection of that Donald Trump tweet with recent Bitcoin price dump? If it is about stimulus which they will pass and probably distributed for some american, why Bitcoin needs to dump? It is not good news that if people will get stimulus and there are a lot of possiblity they will use it to buy Bitcoin?

[btc_angela]

May you enlighten me why?
What is the connection of that Donald Trump tweet with recent Bitcoin price dump? If it is about stimulus which they will pass and probably distributed for some american, why Bitcoin needs to dump? It is not good news that if people will get stimulus and there are a lot of possiblity they will use it to buy Bitcoin?

It's because Trump is going is rejecting the $2.4 trillion for a bailout proposal of Nancy Pelosi. So investors take this negatively. The supposedly bailout not just includes stimulus package for Covid-19, so probably more for US companies. And since this rejection, investors lose fait again so traditional and crypto markets reacted by dumping. And for crypto markets, time for whales to manipulate this news in their favour to create a dump, and then buy it back when the price is cheap again.

[jossiel]

Most likely whales trying to use this news to sell a load of coins in the hope weak hands & noobs panic & sell too.
Quite embarrassing behaviour if so, I don’t see why the market should care if Americans aren’t getting more free money imminently.

It's true.

Whenever there were tweets or news and events that's like this. The whales do take action and this time, it's the negative action that they've made. And for the speculators, they'll also come and think that every news again will have an equal reaction for the bitcoin market.

Also, the relativity of stocks and bitcoin will be having the same thought again.

But for bitcoin, a $100-$200 fall isn't that much. We're used to these dips.

[Janation]

Most likely whales trying to use this news to sell a load of coins in the hope weak hands & noobs panic & sell too.
Quite embarrassing behaviour if so, I don’t see why the market should care if Americans aren’t getting more free money imminently.

Indeed, whales are moving on every US news and this statement of Trump should not affect bitcoin directly but since people created panic to make bitcoin more cheap, this news becomes a big deal for cryptomarket. I wonder how this tweet affects the presidential campaign of Trump, looks like he’s on a recovery mode.

I don't care what they say.

All I know is that whether the price of Bitcoin fell or rise, it is both favorable for most of us. People will reinvest, people will sell, at the end of the day that price will just go back to the way it was. This movements is a bit annoying since someone is making these statements that have an effect to people but as far as I know, this community is thick and strong.

[StonksStonksStonks]

If this tweet has really something to do with the sudden drop, then it means the crypto market is influenced by powerful leaders like Trump. What if the tweet comes from a third world country president? I don't think it will have an impact in crypto market. But I am still wondering if this kind of tweet has really impact in crypto. Is it just coincidence and there are other underlying factors why bitcoin drop a lil bit?

Not so much trump, but the money printer effects the price of Bitcoin. When he said "no stimulus deal" it means the money printer is not being turned on High.

If every country stopped printing money, or even just the USA, it could probably crash bitcoin. But that would never happen because the country itself is in so much debt and its only way to manage the debt is to print trillions

[LUCKMCFLY]

All this will always be used by whales, if we just follow their thinking we could achieve a lot, and we have it at a glance:

Bad News = Buy Bitcoin, why?

Because weak hands will always be carried away by any news, panic is what moves them the most, and there is nothing better than buying when millionaires buy, it is the best way to obtain long-term profits.

[el kaka22]

Honestly the reason why bitcoin went down doesn't make sense, if Trump accepts 1.6 trillion one that means people will get money, if he finally caves in and accepts 2.4 trillion (which he won't) people will get even more money.

All in all in both scenarios people are getting money and dollar is losing value, both of them combined makes bitcoin go up. Thankfully bitcoin is over $10.6k right now, so it is not as bad as you might see on that picture, it may have dropped a bit but it has recovered very well too so I do not think it matters that much.

However if it really happens, 1.6 trillion in the market makes dollar less valuable due to having some more of it, and also makes bitcoin more valuable because some may use it to buy bitcoin while there is no reason to sell it.

[dothebeats]

The market has been closely following the events of the presidential run on the US lately. It’s as if most traders are banking on the events that are happening on the US soil, so much so that the graphs of bitcoin wildly resembles that of the stock market’s. Trump rejecting the $2.4T deal, and just wanting to wait until the elections are over to give the stimulus fund would surely garner negative reactions from all fronts. No stimulus fund = no money for the Americans, and no money = not a stimulated economy. We all know that a huge percent of those who received the fund bought bitcoin, so it’s likely that some whales are using this no-deal to condition the market, just like waht they did on the previous stimulus talks.

[exstasie]

Most likely whales trying to use this news to sell a load of coins in the hope weak hands & noobs panic & sell too.
Quite embarrassing behaviour if so, I don’t see why the market should care if Americans aren’t getting more free money imminently.

For the same reason the market cares about Fed cash injections.

Stimulus money directly affects supply and demand of investment assets. If you give investors free money, 2 things happen: they are less pressured to sell assets like stocks or BTC to pay the bills (less supply) and they may have extra disposable income now to invest in assets like stocks or BTC (more demand). Less supply and more demand = higher prices.

The market has been operating for months on the assumption that additional stimulus injections are coming. It was priced in. If stimulus is no longer going to happen, investors might price that in as well.

[bitgolden]

The real trouble is not even 1.6 or 2.4 discussion, the real trouble is there is sooooo much money going towards companies and so little of it goes towards the people. There are families getting this stimulus check and that is a good thing government is doing this but about 10x of it also goes to companies, when you are giving 1 dollar to public (total) and giving 10 dollars to companies, you are not helping the public, you are just saving your capitalist friends.

In reality I feel like the best way to go would be giving 10 to people and 1 to companies so that those people could spend their money on these companies and if the companies are really needed and good ones, they could potentially get that 10 from people as they would be customers anyway, but if they don't, let them bankrupt.

[buwaytress]

And then today's even bigger spike in the other direction, and if I'm to believe it, this is because Dorsey plopped in another $50M on Bitcoin. How does that create a bigger wave than Trump's bad news I wonder?

Still, I'm not one to complain! 11k just as we enter 4th Quarter isn't so bad.

[STT]

It dipped but this is an immediate reaction to negative sentiment, more reliable is a regular process up or down.   Seems like price action has turned positive today, its beating something of a negative trend over the medium term and its done so on volume so going into the weekend its going something to build on and possibly gain. 
   The sell shown in the OP goes down to 10500 and roughly stays above, seems like that was some hint to a positive.



Thats just today back above weekly average and a trend, have to call BTC in a positive phase right now.