Bitcoin doesn't care about Tesla and Amazon

[Liamttw]

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

[avikz]

Ideally it shouldn't but the reality is something different. Elon Musk did manipulate the bitcoin market with his comments. Same thing happened when the rumor about Amazon accepting bitcoin payment came out. I am not sure if you are trying to justify such incidents with technical analysis, but these are not really anything to do about resistance points etc. These are market manipulation at it highest level. Rumors spread faster than wildfire and that exactly what happened in last few days! Elon's was even more prominent and he has spoken publicly about accepting or not accepting bitcoin.

Bitcoin shouldn't care about all such big man's nuisance, but unfortunately it does!

[Jawhead999]

Only weak hands, newbies and Elon musk fans was caused the price dump in the past, they only follow what the self pro claimed and their role model doing because they trust them. They have a mindset since his role model is very rich, then to become a rich like him he need to follow anything what his role model do.

[Connor Britton]

But Bitcoin will still be affected by "rumors" or "hype".
When Musk said that he would use Bitcoin to pay, because he has a number of fans, this is also good news for Bitcoin, so it pushed the price of Bitcoin. When Amazon said that Bitcoin can be used, this The news also caused a period of enthusiasm and caused Bitcoin to rise. To be honest, the impact of the two on the price of Bitcoin can indeed be seen.
But Bitcoin is more flexible, because both of them are not currently implemented, and they are not substantively helpful to Bitcoin, but it is also because Amazon and Musk Bitcoin are more people's attention. It is also a good thing.

[JillianTaft]

These two have had a great impact on the price of Bitcoin. I have to admit that Musk announced that Tesla has become a company that accepts Bitcoin payments, which promoted the increase in prices at that time. Amazon was also because of a rumor-like news. Once again, Bitcoin pushed up 14%. I think that the public adoption of cryptocurrencies by these large institutions and their support for Bitcoin will have an impact on prices. Compared with Tesla, Amazon is more meaningful in pushing prices.
These big players enter the market to attract more users to join the market. Over time, they will realize this and will buy at a higher price in the future.

[Kong Hey Pakboy]

Even if bitcoin doesn't mean care about these big companies, the companies care about bitcoin, specifically their interest in it so they have to try and make money out of it given that they know that they can make millions if not billions in a short time span. Of course bitcoin doesn't care, it's a decentralized platform after all but that doesn't mean that it's susceptible to manipulation.

[palle11]

Bitcoin is already established financial asset and means of payment that has digital connotation, Tesla, Amazon, PayPal and other global institution need bitcoin more for their businesses to tribe and easily accessible to the world. So I agree with the topic very well. Although the use of bitcoin further increase the price but bitcoin won't disappear if they don't because bitcoin is decentralized and countries adopting.

[TheMimic1]

Are you one of the few that believe that BTC can bounce back to 40k without any help from good news ? You are wrong pal BTC needs adoption and Amazon implementing crypto payment will bring right justice for bitcoin and crypto world entirely

[Rainbow-queen]

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.

[Kong Hey Pakboy]

~~~

After the recent price rally any major company has Bitcoin on their radar. They might not yet be part of the crypto market yet but they definitely are evaluating their options. If there is a chance to make money of it that more big institutions are going to enter the market. For now Amazon doesn't want to be part of it, so the hype was over in a day. It remains top be seen if the price will go down to 30,000 USD again or remain around 40,000 USD. The influence of Amazon and Tesla should be getting smaller with more and more other player entering the market.

What's taking them so long getting into the market then, I think they're planning something that will make it favorable to them. I don't think that Tesla and Amazon's influence would dwindle even if there's more people getting in the market, Elon has millions of Twitter followers and they do their best to have him on the headline, Amazon on the other is already a staple in many households so I disagree with you on that part.

[Text]

We can't deny that the influence of Elon Musk and the Amazon rumors had an impact on the rise in the price of Bitcoin.  So the note is not true and I read that Amazon declined or refused in connection to cryptocurrency.  Those who just keep up with the hype and FOMO often make the wrong decision without even researching what they are entering.

[cryptomaniac_xxx]

It just shows how resilient bitcoin is, even if there are whales and manipulators around that are trying to push the price, still bitcoin goes on a $40k pump even after the Amazon denial.

Now, let's see how further this sort of mini bull run can bring us, $40k is achieved, let go for $50k next month and move away from the lowest low just a couple of weeks ago at $29k.

[shield132]

I sometimes think that those who do this kind of screens are sometimes under the Itachi's Genjutsu
What really gives you a reason to say that in the title when your arguments actually prove the different idea? Technical analysis has nothing to do here.
Okay, let's see how everything happened:
Overall, there is an expectation that after the halving, bitcoin's price should significantly rise. It happened that way and went up to 20K. Then what happened? PayPal announces that it will accept Bitcoin and it increased the price. Then Elon Musk announces that Tesla will accept the crypto and then price rises again and then the rise continue until his tweet that really destroyed the whole crypto market. His tweets had so much influence that it not only seriously affected the Bitcoin's price but at the same time he was seriously hyping the Dogecoin and it had an enormous increase in price.

After Elon's tweet, it was looking like the market was rebounding but then the China announced mining ban and it finally crashed the market without the chance of rise. Then, what happened? Btc was playing between low price range and one day the rumor leaked that Amazon is going to accept the price and it quickly reached the 40K price, liquidated a lot of short positions on futures market.

So, yeah, it's price is very dependant on this kind of actions and the result from these announcements is almost immediate.

[stompix]

But bitcoin price fluctuations are largely affected by technical indicators rather than basic events.

Common, how many times does it takes for all indicators and for millions of TA graphs to get thrown in the garbage to realize that drawing those and trying to predict the price is worse than horse gambling when you don't even know the horse's numbers? One tweet from Musk the price is all over the place, one fake news the same, nobody was able to predict those movements continuously even once but people still have this fetish of trying to pick random periods of times and random log graphics and find patterns like some cultist in the 3rd century tried to find the face of Jesus on every tree trunk or rock.

Every so-called analyst tries to find ways to claim that there are ways to predict the price because if finally everyone realizes it's impossible he will be out of a job!
But I do love the way they only came AFTER! the event to say, no this was normal, it wasn't because of that, but not before to tell the price will reach 40k in one week or 60k in one month or drop to 30k in 20 days.
Let's see if Warren starts again spreading her non-sense about taxation how those technical indicators will work.

[Betwrong]

But bitcoin price fluctuations are largely affected by technical indicators rather than basic events.

Common, how many times does it takes for all indicators and for millions of TA graphs to get thrown in the garbage to realize that drawing those and trying to predict the price is worse than horse gambling when you don't even know the horse's numbers? One tweet from Musk the price is all over the place, one fake news the same, nobody was able to predict those movements continuously even once but people still have this fetish of trying to pick random periods of times and random log graphics and find patterns like some cultist in the 3rd century tried to find the face of Jesus on every tree trunk or rock.

Every so-called analyst tries to find ways to claim that there are ways to predict the price because if finally everyone realizes it's impossible he will be out of a job!
But I do love the way they only came AFTER! the event to say, no this was normal, it wasn't because of that, but not before to tell the price will reach 40k in one week or 60k in one month or drop to 30k in 20 days.
Let's see if Warren starts again spreading her non-sense about taxation how those technical indicators will work.

Some of those clowns happen to be right once in while, but don't hurry to bookmark their page! Next time other "experts" will be right, and the other time - others. Among all broken clocks in the world some show the correct time, and if you have enough of those clocks you'll have one of them showing the right time at any moment.

[Kittygalore]

But wouldn't that discount the fact that bitcoin still be manipulated by these big companies right? I mean bitcoin is a decentralized cryptocurrency meaning that it doesn't follow a certain rule or authority but it doesn't say that you can't assume some sort of pseudo control with it's movement in the market.

[Darker45]

Bitcoin doesn't care about Tesla and Amazon. It stands on its own features. Bitcoin's credentials speak for itself. Those who are drawn into Bitcoin because of its technology will fully embrace it regardless of the opinions of huge companies. However, it is also a fact that many, perhaps majority even, of Bitcoin owners are looking at its equivalent in fiat. As a result, they care so much of who is supporting Bitcoin, which company is accepting it, and so on.

[Ayiranorea]

Bitcoin doesn't care about Tesla and Amazon. It stands on its own features. Bitcoin's credentials speak for itself. Those who are drawn into Bitcoin because of its technology will fully embrace it regardless of the opinions of huge companies. However, it is also a fact that many, perhaps majority even, of Bitcoin owners are looking at its equivalent in fiat. As a result, they care so much of who is supporting Bitcoin, which company is accepting it, and so on.

Tesla, Amazon and other large firms weren't cared by bitcoin. Those firms having a secured position in the global market gave it more power. With this the small changes made by this firms relative to cryptocurrency make the common people follow them. This is where everything is connected and it is mentioned as Elon Musk drives the market. Now one doubts the technology, but the manipulation is something that could affect the true meaning potential of bitcoin in the long run.

[sunsilk]

It is true, those news might affect bitcoin's price temporarily but in the long run there's no need to care about those news even if they like or dislike bitcoin but we're more for the likes and positive news about bitcoin with these companies.

As it gives the idea and trust to the people who are not yet aware or still in doubt about bitcoin. They have a broad and massive customers that are trusting those brands so it's a good help if these companies are for bitcoin.

[Renampun]

Only weak hands, newbies and Elon musk fans was caused the price dump in the past, they only follow what the self pro claimed and their role model doing because they trust them. They have a mindset since his role model is very rich, then to become a rich like him he need to follow anything what his role model do.

Yep, Elon Musk has millions of fans out there and makes him a role model...

I've heard that imitating the mindset of someone who is rich will make you rich but will they by imitating the mindset of Elon become rich? Bitcoin doesn't need big inconsistent companies that just act to manipulate the market.