Bitcoin doesn't care about Tesla and Amazon

[roosbit]

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.

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[dothebeats]

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.

[AniviaBtc]

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.

[michellee]

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.

[XUNing]

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.

[Caldear]

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.

[Shasha80]

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 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.

[Brus123]

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.

Trendlines act as support and resistance levels once widely recognized by traders, creating either a floor for price-action recovery or a ceiling for downward momentum to resume.

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.

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.

[worle1bm]

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.

[Rruchi man]

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

[pealr12]

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.

[ILuckyGuyI]

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.

[nicholas480]

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.

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

[Twinkledoe]

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.

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.

[kryptqnick]

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.

[jaysabi]

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.

Trendlines act as support and resistance levels once widely recognized by traders, creating either a floor for price-action recovery or a ceiling for downward momentum to resume.

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

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.

[jrrsparkles]

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.

[finaleshot2016]

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.

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.

[RealMalatesta]

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.

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.

[Hippocrypto]

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 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.