Bitcoin doesn't care about Tesla and Amazon

[inoes]

this can be true because apart from Elonmusk/Tesla and amazon there are other factors that strongly support price changes, namely traders.  whether it's using signals or personal predictions, which of course always use support and resistance points.  if the price hits support, of course, traders start buying slowly and this will directly make the price go up.  although to be honest I'm more sure news from Elonmusk, tesla/amazon so influence the market.  like last May where the market was bleeding for a few days

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[Wawa2013]

Sometimes I wonder why the media is always saying that Bitcoin’s price went up because of Tesla and Amazon or maybe one of these big influencers, because I really don’t see it that way. Of course I do know that these people can make an impact, such as Tesla making a billion dollar investment in the cryptocurrency market, but then you can’t saying that every move they make is affecting the market.

We were already looking forward to an increase even before these companies into the picture. The halving alone was enough to lead to up trend, and moreover there are times Bitcoin goes up and down, so it doesn’t have anything to do with these companies.

This is done because they want to create false expectations, we must remember that even if the purpose of the media is supposed to inform the public with the facts this is not true anymore, they want to get clicks, they want to be seen, they waniat to become news themselves and how can they achieve this? By giving outrageous news, that's how, so they create a narrative that the price of bitcoin now is completely dependent on big companies like that and people are going to read their articles and watch their videos to see why this is the case, when in fact the price of bitcoin just has its own dynamics and doesn't obey anyone.

Tesla is trying to manipulate the crypto market just like what Elon Musk also did. But unfortunately, things don't come out exactly what's on their plan. Even Amazon has leave a big impact on bitcoin but later on, the price still recovers.

This just proves that bitcoin is not relying any one or any big company to create an upward trend. Remember that China has also leave a huge impact into bitcoin and resulted into a long dump but through positive news and great opportunities offered to bitcoin, its price still manage to recover.

Everything you say makes sense, because if we look at the few times Bitcoin was manipulated, then the price fell quite deep. But not long after
Bitcoin managed to recover again, this proves Bitcoin does not depend on big companies to grow. Because Bitcoin is decentralized, it means that
no one can control Bitcoin. This is what finally upset China and spread FUD to make Bitcoin die. But China has always failed to make Bitcoin die,
this is what ultimately makes the trust of many people increase in Bitcoin. Then Bitcoin will always grow and increase in price, even though big
companies don't support Bitcoin.

[Dragonfund]

this can be true because apart from Elonmusk/Tesla and amazon there are other factors that strongly support price changes, namely traders.  whether it's using signals or personal predictions, which of course always use support and resistance points.  if the price hits support, of course, traders start buying slowly and this will directly make the price go up.  although to be honest I'm more sure news from Elonmusk, tesla/amazon so influence the market.  like last May where the market was bleeding for a few days

That's exactly the part OP has refused to admit, you can say bitcoin doesn't care about Elon musk and SpaceX when the two are playing huge role in bitcoin growth and development.
Some weeks ago when Tesla announced that they may cease operation of car purchases using bitcoin, we all saw what damages that happened to bitcoin and many altcoins blead the value out. That's the power of influence of a successful man in business, though I don't like him

[fulcare]

Sometimes I wonder why the media is always saying that Bitcoin’s price went up because of Tesla and Amazon or maybe one of these big influencers, because I really don’t see it that way. Of course I do know that these people can make an impact, such as Tesla making a billion dollar investment in the cryptocurrency market, but then you can’t saying that every move they make is affecting the market.

We were already looking forward to an increase even before these companies into the picture. The halving alone was enough to lead to up trend, and moreover there are times Bitcoin goes up and down, so it doesn’t have anything to do with these companies.

This is done because they want to create false expectations, we must remember that even if the purpose of the media is supposed to inform the public with the facts this is not true anymore, they want to get clicks, they want to be seen, they waniat to become news themselves and how can they achieve this? By giving outrageous news, that's how, so they create a narrative that the price of bitcoin now is completely dependent on big companies like that and people are going to read their articles and watch their videos to see why this is the case, when in fact the price of bitcoin just has its own dynamics and doesn't obey anyone.

Tesla is trying to manipulate the crypto market just like what Elon Musk also did. But unfortunately, things don't come out exactly what's on their plan. Even Amazon has leave a big impact on bitcoin but later on, the price still recovers.

This just proves that bitcoin is not relying any one or any big company to create an upward trend. Remember that China has also leave a huge impact into bitcoin and resulted into a long dump but through positive news and great opportunities offered to bitcoin, its price still manage to recover.

Everything you say makes sense, because if we look at the few times Bitcoin was manipulated, then the price fell quite deep. But not long after
Bitcoin managed to recover again, this proves Bitcoin does not depend on big companies to grow. Because Bitcoin is decentralized, it means that
no one can control Bitcoin. This is what finally upset China and spread FUD to make Bitcoin die. But China has always failed to make Bitcoin die,
this is what ultimately makes the trust of many people increase in Bitcoin. Then Bitcoin will always grow and increase in price, even though big
companies don't support Bitcoin.

I think when Bitcoin was manipulated there were a few things that happened simultaneously. Whales could have manipulated the price down, but then the herd lost their nerves I guess as when Bitcoin crashed hard, it was always the case that the market felt quite overheated anyway. It is not like Bitcoin totally crashed out of a sudden and nobody would have expected that. It sometimes did drop more than people expected, but anyone became more careful with buy orders out of a sudden anyway.

[Semar Mesem]

Bitcoin is a decentralized coin that rises from near zero value so it has a value that grows over time based on the algorithm and the 'stock to flow' model. Tesla and Amazon are the only drivers of Bitcoin's rise in value and not its determinants. Bitcoin development does not depend on these two companies.

What is happening with bitcoin at this time of course there are many factors, in my opinion the most influential are influencers like Brian Armstrong and others who actively provide a positive side about bitcoin. besides that of course the role of the ICO project that makes the use of bitcoin continue to skyrocket.

[Wawa2013]

Tesla is trying to manipulate the crypto market just like what Elon Musk also did. But unfortunately, things don't come out exactly what's on their plan. Even Amazon has leave a big impact on bitcoin but later on, the price still recovers.

This just proves that bitcoin is not relying any one or any big company to create an upward trend. Remember that China has also leave a huge impact into bitcoin and resulted into a long dump but through positive news and great opportunities offered to bitcoin, its price still manage to recover.

Everything you say makes sense, because if we look at the few times Bitcoin was manipulated, then the price fell quite deep. But not long after
Bitcoin managed to recover again, this proves Bitcoin does not depend on big companies to grow. Because Bitcoin is decentralized, it means that
no one can control Bitcoin. This is what finally upset China and spread FUD to make Bitcoin die. But China has always failed to make Bitcoin die,
this is what ultimately makes the trust of many people increase in Bitcoin. Then Bitcoin will always grow and increase in price, even though big
companies don't support Bitcoin.

I think when Bitcoin was manipulated there were a few things that happened simultaneously. Whales could have manipulated the price down, but then the herd lost their nerves I guess as when Bitcoin crashed hard, it was always the case that the market felt quite overheated anyway. It is not like Bitcoin totally crashed out of a sudden and nobody would have expected that. It sometimes did drop more than people expected, but anyone became more careful with buy orders out of a sudden anyway.

Many things can happen when Bitcoin is manipulated, sometimes because it is manipulated, the Bitcoin price drop is often drastic. This is what
makes many investors panic and sell their Bitcoins at a loss. Even though investing in Bitcoin requires patience, which is a market dump situation,
there is no need to panic too much. Because of how deep Bitcoin falls, it always rises again, and can rise to a higher price. So there is nothing to
worry about if the whales manipulate and make the Bitcoin price suddenly dump, but Bitcoin can always recover again. That's what causes Bitcoin
trust to increase.

[jakdanyel]

Yeah, Bitcoin price doesn't care much about Tesla or any other company now. It doesn't fluctuate too much like the old times when these companies make a statement like they are going to hold Bitcoin or to accept payments with Bitcoin. I like that the market is getting more resistant against these kind of manipulations.

[Oceat]

Yeah, Bitcoin price doesn't care much about Tesla or any other company now. It doesn't fluctuate too much like the old times when these companies make a statement like they are going to hold Bitcoin or to accept payments with Bitcoin. I like that the market is getting more resistant against these kind of manipulations.

It's just a simple demand and supply logic and you will get the results.

But it seems to me that nobody wants to ride the hype this time after Elon did some statements after leaving Bitcoin that causes the market to fluctuate down and it's clear to the investors that Elon is just manipulating the market that's why they won't want it to happen this time again.

Plus the News supported it that Amazon has no interest in investing Bitcoin or not accepting Bitcoin as a payment that's why there's no fomo this time. One thing that got me thinking about what makes the market to suddenly pump this time? I know there's a lot of factors for this to happen but it's just too much or did I miss something.

[jaysabi]

Yeah, Bitcoin price doesn't care much about Tesla or any other company now. It doesn't fluctuate too much like the old times when these companies make a statement like they are going to hold Bitcoin or to accept payments with Bitcoin. I like that the market is getting more resistant against these kind of manipulations.

It's not really manipulation.  The price is driven by individual investors who are trying to get rich or FOMOing in.  When a company would announce they were accepting bitcoin, the speculators would pile in hoping to make a quick buck on the hype of "mass adoption."  To the extent these types of things don't happen anymore, it's because it's just too big at this point.  "Adoption" isn't really a driving force anymore in the price because the speculators can't buy enough to meaningfully move the price.  It just takes too much money at this point.

[fulcare]

Tesla is trying to manipulate the crypto market just like what Elon Musk also did. But unfortunately, things don't come out exactly what's on their plan. Even Amazon has leave a big impact on bitcoin but later on, the price still recovers.

This just proves that bitcoin is not relying any one or any big company to create an upward trend. Remember that China has also leave a huge impact into bitcoin and resulted into a long dump but through positive news and great opportunities offered to bitcoin, its price still manage to recover.

Everything you say makes sense, because if we look at the few times Bitcoin was manipulated, then the price fell quite deep. But not long after
Bitcoin managed to recover again, this proves Bitcoin does not depend on big companies to grow. Because Bitcoin is decentralized, it means that
no one can control Bitcoin. This is what finally upset China and spread FUD to make Bitcoin die. But China has always failed to make Bitcoin die,
this is what ultimately makes the trust of many people increase in Bitcoin. Then Bitcoin will always grow and increase in price, even though big
companies don't support Bitcoin.

I think when Bitcoin was manipulated there were a few things that happened simultaneously. Whales could have manipulated the price down, but then the herd lost their nerves I guess as when Bitcoin crashed hard, it was always the case that the market felt quite overheated anyway. It is not like Bitcoin totally crashed out of a sudden and nobody would have expected that. It sometimes did drop more than people expected, but anyone became more careful with buy orders out of a sudden anyway.

Many things can happen when Bitcoin is manipulated, sometimes because it is manipulated, the Bitcoin price drop is often drastic. This is what
makes many investors panic and sell their Bitcoins at a loss. Even though investing in Bitcoin requires patience, which is a market dump situation,
there is no need to panic too much. Because of how deep Bitcoin falls, it always rises again, and can rise to a higher price. So there is nothing to
worry about if the whales manipulate and make the Bitcoin price suddenly dump, but Bitcoin can always recover again. That's what causes Bitcoin
trust to increase.

Patience and especially stress resistance. You need to have the mental state to watch your investment go down by 40% and still keep your fingers calm. Understandably, many people lose their nerves and out of a sudden feel the urge to save whatever there is left that can be saved in that moment. It is definitely hard sometimes to be into Bitcoin.

[AndySt]

Yeah, Bitcoin price doesn't care much about Tesla or any other company now. It doesn't fluctuate too much like the old times when these companies make a statement like they are going to hold Bitcoin or to accept payments with Bitcoin. I like that the market is getting more resistant against these kind of manipulations.

It's not really manipulation.  The price is driven by individual investors who are trying to get rich or FOMOing in.  When a company would announce they were accepting bitcoin, the speculators would pile in hoping to make a quick buck on the hype of "mass adoption."  To the extent these types of things don't happen anymore, it's because it's just too big at this point.  "Adoption" isn't really a driving force anymore in the price because the speculators can't buy enough to meaningfully move the price.  It just takes too much money at this point.

It's just that a relatively calm time has come and investors have calmed down for now, because the big players themselves are tired of the frenzied volatility and decided to take a little break for now. But I assure you, this will not last very long and when some global financial or cryptocurrency events occur, the crypto market will not remain indifferent and a very cheerful autumn awaits us. It's just that when the market is inflated, there is a hysterical reaction to any event and the cryptocurrency market, due to its youth, is no exception. Therefore, I am not sure that the market has matured and become very stable, so future news from Tesla and Amazon will shake up the market more than once

[fulcare]

Yeah, Bitcoin price doesn't care much about Tesla or any other company now. It doesn't fluctuate too much like the old times when these companies make a statement like they are going to hold Bitcoin or to accept payments with Bitcoin. I like that the market is getting more resistant against these kind of manipulations.

It's not really manipulation.  The price is driven by individual investors who are trying to get rich or FOMOing in.  When a company would announce they were accepting bitcoin, the speculators would pile in hoping to make a quick buck on the hype of "mass adoption."  To the extent these types of things don't happen anymore, it's because it's just too big at this point.  "Adoption" isn't really a driving force anymore in the price because the speculators can't buy enough to meaningfully move the price.  It just takes too much money at this point.

It's just that a relatively calm time has come and investors have calmed down for now, because the big players themselves are tired of the frenzied volatility and decided to take a little break for now. But I assure you, this will not last very long and when some global financial or cryptocurrency events occur, the crypto market will not remain indifferent and a very cheerful autumn awaits us. It's just that when the market is inflated, there is a hysterical reaction to any event and the cryptocurrency market, due to its youth, is no exception. Therefore, I am not sure that the market has matured and become very stable, so future news from Tesla and Amazon will shake up the market more than once

I agree and we are actually ver far from having a stable a crypto market. The dynamics in the market might also lead to crypto never becoming a more stable market. When you have some innovation in the car industry, authorities inspect everything closed and either allow a certain innovation or not. In crypto this different because it is unstoppable. You can't regulate something that you on the one hand don't see coming in the first place and on the other hand don't know where to go to because innovations are published as open source code in a decentralized manner. This will cause an ever ongoing uncertainty that will ultimately lead to market volatility. That is just my stance on it. I am not mad about it, I am happy to be part of this as Bitcoin or the Bitcoin code seems to be the sincerest realization of the freedom of speech principle we have seen so far. You can't stop it, you can just try to undermine it.

[tyz]

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.

I agree. In the long run, Bitcoin doesn't really care if Tesla or Amazon backs the coin. In the short term, however, it does matter, because depending on this, the purchases or sales of Bitcoin increase, depending on what the companies do. This has been seen quite impressively recently.

[nightxglow]

Yeah, Bitcoin price doesn't care much about Tesla or any other company now. It doesn't fluctuate too much like the old times when these companies make a statement like they are going to hold Bitcoin or to accept payments with Bitcoin. I like that the market is getting more resistant against these kind of manipulations.

It's not really manipulation.  The price is driven by individual investors who are trying to get rich or FOMOing in.  When a company would announce they were accepting bitcoin, the speculators would pile in hoping to make a quick buck on the hype of "mass adoption."  To the extent these types of things don't happen anymore, it's because it's just too big at this point.  "Adoption" isn't really a driving force anymore in the price because the speculators can't buy enough to meaningfully move the price.  It just takes too much money at this point.

Yup, actually even if we say bitcoin doesn't care, most of the investors, the one who move the market, care about those news regarding tesla, or amazon. That's why the price move, going up or down regarding it. Although most of people here hate it, calling it manipulation, well, it's not manipulation. It's not like they do something directly to manipulate the price, in fact those investors or bitcoin buyer are the one who follow the words, fomo, and thus making the price up. But it's getting old sooner or later, the price won't be moved just because of that anymore later on.

[dezoel]

Bitcoin itself may not, but the people who hold bitcoin or will buy bitcoin do care about them. Bitcoin itself is just a product, like paper money for example, it doesn't matter what it thinks because it is an inanimate object, what matters is how people use it.

For example for decades now, maybe over a century who knows but certainly in today's day and age of technology we all KNOW the fact that every human on earth could live a decent life, we have enough resources to provide shelter and food and clothes for everyone, sure rich could buy yacths and mansions and expensive stuff, but at the bare minimum we can provide food and shelter for everyone. What do we have instead? Poverty, wars, sickness and trouble, why? Because some people want more than what they can spend in 100000 lifetimes.

Crypto is no different to that problem, and that is why Tesla or Amazon doing something about bitcoin matters the most, because it is not about what bitcoin is but about what you do with it.

[Wawa2013]

~

I think when Bitcoin was manipulated there were a few things that happened simultaneously. Whales could have manipulated the price down, but then the herd lost their nerves I guess as when Bitcoin crashed hard, it was always the case that the market felt quite overheated anyway. It is not like Bitcoin totally crashed out of a sudden and nobody would have expected that. It sometimes did drop more than people expected, but anyone became more careful with buy orders out of a sudden anyway.

Many things can happen when Bitcoin is manipulated, sometimes because it is manipulated, the Bitcoin price drop is often drastic. This is what
makes many investors panic and sell their Bitcoins at a loss. Even though investing in Bitcoin requires patience, which is a market dump situation,
there is no need to panic too much. Because of how deep Bitcoin falls, it always rises again, and can rise to a higher price. So there is nothing to
worry about if the whales manipulate and make the Bitcoin price suddenly dump, but Bitcoin can always recover again. That's what causes Bitcoin
trust to increase.

Patience and especially stress resistance. You need to have the mental state to watch your investment go down by 40% and still keep your fingers calm. Understandably, many people lose their nerves and out of a sudden feel the urge to save whatever there is left that can be saved in that moment. It is definitely hard sometimes to be into Bitcoin.

Nothing is easy indeed to invest in Bitcoin, especially with its volatile price, it requires resistance to stress. Because I feel for myself how strong
mentality is important when deciding to invest in Bitcoin. As you said, it is not easy to face a decrease of up to 40% in a short time, it takes patience
and strong mentality, so that we don't stress about it. That's what a lot of study and practice is for, in order to form a strong mentality to be able to
face the market which sometimes looks scary.

[Fortify]

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.

Much like the saying "a stock does not know who owns it" - you're right that Bitcoin will not change based on the short term desires of new owners or people who think they might be able to tell which way the wind is blowing tomorrow. We've seen that it is a heavily erratic asset but I would actually disagree with the title of this thread. On a macro scale, the fact that companies like Amazon and Tesla hint at accepting payment in a certain format is bound to give credibility to Bitcoin. Amazon is the biggest online retailer (outside of China) and if people see that it favors certain payment methods that they can invest in - the masses will flock to it. Some people might have little faith in Bitcoin but a big name like Amazon lends it a huge reputation boost if there is even a hint of "endorsement".

[Spack17]

I agree with your opinion. Bitcoin price doesn't care about big companies like Tesla or Amazon too much anymore. It was not the case before. Tesla's actions affected the market at a high rate a few months ago. Not many days ago, Elon Musk said that Tesla would start accepting Bitcoin payments again. But it didn't affect Bitcoin directly right after this statement. This proves that something has really changed.

[Fredomago]

Much like the saying "a stock does not know who owns it" - you're right that Bitcoin will not change based on the short term desires of new owners or people who think they might be able to tell which way the wind is blowing tomorrow. We've seen that it is a heavily erratic asset but I would actually disagree with the title of this thread. On a macro scale, the fact that companies like Amazon and Tesla hint at accepting payment in a certain format is bound to give credibility to Bitcoin. Amazon is the biggest online retailer (outside of China) and if people see that it favors certain payment methods that they can invest in - the masses will flock to it. Some people might have little faith in Bitcoin but a big name like Amazon lends it a huge reputation boost if there is even a hint of "endorsement".

With this presentation, it indeed reflects to Bitcoin seeing it as another way for dealing transaction more on good positive turns, considering the fact that those billionaires who owns this businesses also have good circles of friends who along the way can adopt and start using this system as well.

We do need to see both sides of this, and weight which would help in the long run. Partnership will create a good path for Bitcoin we can deny that fact.

[Sithara007]

Nothing is easy indeed to invest in Bitcoin, especially with its volatile price, it requires resistance to stress. Because I feel for myself how strong
mentality is important when deciding to invest in Bitcoin. As you said, it is not easy to face a decrease of up to 40% in a short time, it takes patience
and strong mentality, so that we don't stress about it. That's what a lot of study and practice is for, in order to form a strong mentality to be able to
face the market which sometimes looks scary.

Well.. investing in Bitcoin is not the same as investing in other assets. Because we all know that Bitcoin is a high-risk asset. So Bitcoin going down by 40% will create more nervousness for the investor, when compared to a situation where his stocks go down by 40%. Also, with the stocks, the prices in the long term depends on the financials of the company. If the company is having good financials, then eventually the prices should recover. No such thing can be said about Bitcoin. If the prices go down, then there is no guarantee that it will recover.