Bitcoin doesn't care about Tesla and Amazon

[Tytanowy Janusz]

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

Are you still in 2017? Man its 2021 now... BTC does not need adoption. No one think it will replace FIATs anymore. BTC does not need to be used by all human population. That's 2017 bubble paradigm. Its 2021 bubble where BTC is a digital gold. Means that it is store of value... means that it is an asset that 5% of reachest people allocate 5% of portfolio to headge against crash of current monetary system. We dont need amazon here. Thats enough to push btc to 1 mln $.

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.

Thats how it works. Insider buy (this fake news creator) market pump, hype train, price pump even harder, insider sell. The fact that someting started to pump before news does not prove that it was not caused by news...

But at the end of the day i agree with you. Its only short term volatility with 0 long term value.

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[teosanru]

From time and again this has been a heated issue of debate, critics of Technical analysis argue that TA is nothing just a self-fulfilling Prophecy that people use to try and convince themselves to buy/ sell things. But some people say that news are deliberately posted by larger whales at Crucial points on Charts. This is more like the Egg or the Chicken Riddle. I have seen sometimes that the market was already giving a lot of breakout signs and news acted as a trigger to support that breakout, sometimes I have seen that much important news just leave the market unaffected, while sometimes even the slightest of bad news takes the market down with it. So far I have just concluded that it's all just whale play that is going on in the market and it's all about confusing the retail investors as much as possible and make some money.

[Silberman]

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

Bitcoin as a technology may not care and that is right but the people holding and trading bitcoin care and I will say that they care a lot, personally I do not think too much of Elon or anyone that tries to market themselves as the savior of this market or anything like that but you can be sure the is a lot of people that do in fact believe his words and while each one of those people does not have a lot of power if they move in a uniform way then they can affect the market significantly.

[just_Alice]

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.

Not exactly so. When there was a hype driven by Musk the price kept rising and remained on that level for a pretty long time, just before the bad news hit media. Price fluctuations may not be entirely caused by the media, but certain news definitely bring oil to the fire and sometimes affect price in the long term as well. Although, it all depends on what we define as long-term. Eventually, no matter what the news are, the price will stabilize.

[bL4nkcode]

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.

But that doesn't change the fact that elon and his minions also the reason why bitcoin pumps after tweeting related to bitcoin, changing bio with a bitcoin hashtag, investing and tesla's accepting bitcoin payment, etc. And after a while it dumps, mainly because of him and tesla's revoking the acceptance of bitcoin payment as well.

[Kasabus]

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.

But that doesn't change the fact that elon and his minions also the reason why bitcoin pumps after tweeting related to bitcoin, changing bio with a bitcoin hashtag, investing and tesla's accepting bitcoin payment, etc. And after a while it dumps, mainly because of him and tesla's revoking the acceptance of bitcoin payment as well.

Of course, bitcoin are still affected with this current events but the effect is just temporary. Afterwards, bitcoin rises up again with new positive updates passing through its resistance level.

Tesla and Amazon are both big companies that made bitcoin price to decline and it's undeniable. But bitcoin does not stop there. If it will be easily affected with negative news, then same thing happens whenever positive news will come too. Bitcoin will hype again and may reach another peak again in time.

[ChiBitCTy]

I completely disagree, these two events, The B Word roundtable and the Amazon hiring news both greatly effected the price of bitcoin.  In large part this news caused a lot of traders to cover their short positions due to the rise that these news event created.  This is a fact, and not really something that can be debated. I'm not saying traders should care about these event's as much as they do, but they do.

[Dave1]

I completely disagree, these two events, The B Word roundtable and the Amazon hiring news both greatly effected the price of bitcoin.  In large part this news caused a lot of traders to cover their short positions due to the rise that these news event created.  This is a fact, and not really something that can be debated. I'm not saying traders should care about these event's as much as they do, but they do.

Of course traders and speculators care about the next big news to make profits. But if they short in the last 7 days, they should be at a negative because the price suddenly jumps above $40k and then stay there for some time before a quick dump, forcing the market to ~$39k right now.

But we should understand that the last price movement was not fueled by Amazon because they have denied it. And the price continue to soar as I have said and it is not dumping hard as expected. Still good and strong at $39k, strong indication that we might see another break out run next month.

[Liamttw]

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.

Tesla accepted Bitcoin for the first time, and huge transactions pushed up its price. There have been reports recently that Amazon as the world's largest retailer will accept encryption, which is also big news for his own creation. Enter the Bitcoin world and make it public, thereby enhancing the credibility of Bitcoin in the eyes of the public. This will affect the price of Bitcoin in the short term.
Bitcoin is incredibly resilient, and in the long run, price changes do not come from these major events. Bitcoin is a real revolution and does not need its players. Bitcoin is the future.

[Roy Asher]

I personally think that Bitcoin cares about Tesla. Bitcoin cares about Amazon. Bitcoin is a network. It cares about every individual and entity that wants to be a part of it. The more wealth that is determined to be stored and traded on the Bitcoin network, the more valuable Bitcoin is.

[fulcare]

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.

You may have heard that, but how would you imitate his mindset if you don't know whether what he presents to be his mindset really is his mindset? He could think differently than he talks. You may fail to grasp his mindset fully because he is smart in psychology, knows what to say in order to get you do what he wants you to do, and you don't even realize it. How would you imitate the mindset of such a person that is able to manipulate you in the first place?

[Alisha-k]

I would say both work hand in hand but in the absence of fundamental analysis, technical analysis supersedes Elon musk happens to be a key stack holder in the blockchain industry and has such his tweet can cause spikes but when those tweets aren't available technical analysis rules the movement of price. So I feel both moves together

[sapnu]

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.

This just clearly shows how volatile and how affected bitcoin by external factors. Those recent past events indeed made a huge impact on bitcoin's price right away but still we cannot rely on such that it will be consistent or stable. Those events just hypes the market for a short moment and we'll be back to the usual price once again. Maybe bitcoin doesn't really need help from those huge companies yet if only they did the right thing towards bitcoin, maybe it would have been possible that the certain company who chose to collaborate and help bitcoin would have ended up helping each other.

[Viscore]

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.

Tesla accepted Bitcoin for the first time, and huge transactions pushed up its price. There have been reports recently that Amazon as the world's largest retailer will accept encryption, which is also big news for his own creation. Enter the Bitcoin world and make it public, thereby enhancing the credibility of Bitcoin in the eyes of the public. This will affect the price of Bitcoin in the short term.
Bitcoin is incredibly resilient, and in the long run, price changes do not come from these major events. Bitcoin is a real revolution and does not need its players. Bitcoin is the future.

Major events are definitely leaving a huge impact into bitcoin, either it causes bitcoin to dump or even pump. But one thing is certain, even if the news made it to dump, it will always bound to recover again and surprisingly settles into its new heights.

Amazon has now clear the issue and says its only a rumor and there's no reality in it. Bitcoin then immediately made a correction but after a while, bitcoin has even reached into $40k. From this, we can see how bitcoin becomes so flexible that after it dumps, the price turns out into very positive again which made the people to trust bitcoin even more.

[Questat]

When we speak of manipulation, anything could happen to the market, and sometimes it's the opposite of our expectation.

Bitcoin cares for the adoption as that is the purpose why it's created, as it's adopted, the demand will increase and the bitcoin price will rise.
Tesla and Amazon accepting bitcoin is a good adoption, especially for Amazon where millions of people are using this for their online shopping.

[electronicash]

now amazon knew they could affect the price of Bitcoin, they could actually try what elon musk did by spreading something because they matter.

although it will end eventually like they won't matter after a series of announcements or tweets,  amazon still could try manipulate the market.

[maxreish]

It was highly affected by the demand and the supply together with how those investors react with the fundamental sentiments and news. Elon Musk is a powerful influencer, a rich business man tycoon that has many followers. The moment he release some statement about bitcoin, those followers (prolly bitcoin investors or maybe some have many bitcoins on their wallets), sell off their bitcoin that greatly affected the market.

The technical indicators will just show some signs how the market will react with those news.

[Assface16678]

Of course bitcoin doesn't care, it's probably because there's no person behind it besides Satoshi although he is gone a long time ago. But that's also the weakness of bitcoin, it can easily be manipulated by different entities that habe their own agenda or interests regarding bitcoin. The sad thing is that Tesla, Amazon and other companies care about bitcoin which ends up with the oublic that is struggling being the receiver of the negatives cause my the manipulation of this institutional investor.

[Fesatmas]

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!

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.

[jostorres]

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.

I hate the both sides and that allows me to be very impartial judge in this fight. I am a long term investor and all I do is just wait for the time to arrive for me to sell, which is years years years down the line and neither TA one may do right now nor tweet for Elon could change that, nothing changes for me whenever one of them does something. TA could look like it is going to go down huge amount and I won't care, or show that it will go up a lot and I won't care, or for example elon could say bitcoin is awesome and I won't care, or he could say it is horrible and I won't care.

Hence neither really bothers me, I am just waiting for the time bitcoin reaches 200k+ and that's it. And since I proved that I am objective I could say that TA is a bit better because it shows the very very short periods correctly most of the time, but tweets and unexpected news are always unpredictable so they are not really there to help anyone.