Bitcoin doesn't care about Tesla and Amazon

[Betwrong]

~ so future news from Tesla and Amazon will shake up the market more than once

~ Bitcoin doesn't care about Tesla and Amazon news but investors do. And those who manipulate the market know that very well.

Bitcoin itself may not, but the people who hold bitcoin or will buy bitcoin do care about them. ~

~ 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".

Wait, wait, wait, waaaait, guys! Now I'm completely confused. 

When it is said that "Bitcoin doesn't care" about a thing, Doesn't it imply that, in fact, Bitcoin investors don't care about that thing?

OP's point is that "big news", like Amazon/Tesla accepting/rejecting Bitcoin can affect the market only short term, and I personally agree with this. Don't you?

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[AicecreaME]

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

Despite the technical analysis, we can't deny the fact that Elon Musk and Amazon indeed have an impact on the value of bitcoin. I know that bitcoin's nature is volatile. It always is and therefore anyone in crypto must know that it is usual for its price to pump and dump at any time of the day. However, whenever Elon releases a statement regarding bitcoin, the price of bitcoin in the market always moves. This is due to the fact that Elon Musk has a big fan base and followers that keep track of his prediction. These people are the typical ones that follow the hype and baseless information without counterchecking on their end. Hence, the prices in the market move either upward or downward base on the information they have heard, they will sell or buy. They cause fluctuations on the price charts most especially the newbies that just follow the trend without doing technical analysis at all.

In addition, the mass adoption of bitcoin really did impact and is continually making an impact on bitcoin's value. Because of bitcoin adoption, soon enough more people will be interested to invest in bitcoin which can lead to price increase due to increase market demand.

[ven7net]

I would not say that BTC does not care about Tesla or other companies whose influencers manipulate their messages to the markets. As we could see, the BTC price reacted negatively to Elon Musk's statement that he would not accept BTC for payment for Tesla goods. And also after his statement that he is even ready to accept BTC if it, in turn, becomes greener, and lo and behold, the price of BTC eventually began to grow. Of course, we can say that this is a coincidence and so on, but at the moment we have facts of influence on BTC. So to say that BTC is all the same to such statements is at least not correct. Still, at the moment, BTC is dependent on such statements and I would very much like this not to happen anymore.

[so98nn]

Of course, it was never the purpose of bitcoin nor the goal to serve giant companies like Amazon or Tesla. The fact that bitcoin is getting moved up and down by the news is due to “investors” getting influenced with that. It’s very obvious thing that investors would believe bitcoin because real companies are utilising it and giving it a firm reason to make viable investment.

Bitcoin, Neither depends on billionaires nor the giant tech firms but honestly speaking both of them are resulting factors into what it is today.

[Wawa2013]

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.

I agree not to equate investing in Bitcoin with other assets, because investing in Bitcoin is much more risky. So it's not necessarily people who
have succeeded in investing in the stock market, will also be successful in investing in Bitcoin. The price of Bitcoin is very volatile, so it is normal
for the price of Bitcoin to fall very deeply or even rise very high, things like that happen over and over again. Since there is no guarantee that
Bitcoin will recover, so it is very wise to always invest money that we can afford to lose. If we want to be successful investing in Bitcoin,  we must
be willing to continue to learn, in order to understand how Bitcoin works.

[KennyR]

Of course, it was never the purpose of bitcoin nor the goal to serve giant companies like Amazon or Tesla. The fact that bitcoin is getting moved up and down by the news is due to “investors” getting influenced with that. It’s very obvious thing that investors would believe bitcoin because real companies are utilising it and giving it a firm reason to make viable investment.

Bitcoin, Neither depends on billionaires nor the giant tech firms but honestly speaking both of them are resulting factors into what it is today.

Agreed on the market situation at present. Bitcoin was developed in such a way to serve all levels of people providing the freedom. Now this is getting to be more influential by the tech firm adoption and statements out of billionaires and high profile personalities. Maybe this situation will change, and the present market variation might be the result of market getting maturity.

[Vishnu.Reang]

I agree not to equate investing in Bitcoin with other assets, because investing in Bitcoin is much more risky. So it's not necessarily people who
have succeeded in investing in the stock market, will also be successful in investing in Bitcoin. The price of Bitcoin is very volatile, so it is normal
for the price of Bitcoin to fall very deeply or even rise very high, things like that happen over and over again. Since there is no guarantee that
Bitcoin will recover, so it is very wise to always invest money that we can afford to lose. If we want to be successful investing in Bitcoin,  we must
be willing to continue to learn, in order to understand how Bitcoin works.

I have heard this argument a lot of times that in Bitcoin we should invest only as much as we could afford to lose. But my personal experience is different. Back in 2013/14, one of my friends got so much addicted to Bitcoin, that he took loans to invest in it. And at that time, the exchange rate of Bitcoin was $800 per coin. Two years later, the price stood at $200. Luckily for him, he didn't sold any of his coins, as he had faith in cryptocurrency. And now he is at 50x profit, when compared to the purchase price.

[Xinarae*]

Bitcoin is a popular currency for investing in crypto and investing is risky bitcoin usually tends to rise based on its demand. Tesla and amazon have no influence instead tesla and amazon started introducing bitcoin to improve them bitcoin investing is profitable and the wise thing to do is to hold on without selling a friend of mine who held bitcoin in 2018 has now made a few bucks. That's why we have to move forward with confidence to invest in bitcoin tesla said that in the near future it will start accepting bitcoin as a payment for its products.

[Timelord2067]

A company like Tesla would have to dump coins (be it bitcoin, DOGE, or something else entirely) on a daily or at most weekly basis to enable them to continue to send and receive goods from manufacturers and distributors alike.  Tesla may have a vertically integrated to the customer business, but eventually, they have to pay outside vendors.

With the price of bitcoin fluctuating daily, I wouldn't be surprised if Tesla has to cash in daily.

[Wawa2013]

I agree not to equate investing in Bitcoin with other assets, because investing in Bitcoin is much more risky. So it's not necessarily people who
have succeeded in investing in the stock market, will also be successful in investing in Bitcoin. The price of Bitcoin is very volatile, so it is normal
for the price of Bitcoin to fall very deeply or even rise very high, things like that happen over and over again. Since there is no guarantee that
Bitcoin will recover, so it is very wise to always invest money that we can afford to lose. If we want to be successful investing in Bitcoin,  we must
be willing to continue to learn, in order to understand how Bitcoin works.

I have heard this argument a lot of times that in Bitcoin we should invest only as much as we could afford to lose. But my personal experience is different. Back in 2013/14, one of my friends got so much addicted to Bitcoin, that he took loans to invest in it. And at that time, the exchange rate of Bitcoin was $800 per coin. Two years later, the price stood at $200. Luckily for him, he didn't sold any of his coins, as he had faith in cryptocurrency. And now he is at 50x profit, when compared to the purchase price.

Thank you for sharing your personal experience, of course there are lessons we can all take from the experiences you have shared. That trust in Bitcoin
will lead us to be able to enjoy big profits from Bitcoin. But to be able to have a high level of trust in Bitcoin like your friends is not easy. It takes
good knowledge of the crypto world, and also how we control our emotions when investing, it helps us to be more patient when investing in Bitcoin.

[tabas]

right, they are just the factors driving the trend. when amazon and tesla give news of accepting bitcoin, there will be many investors who think bitcoin will pump, because more and more people will adopt it.

The good news are indicators for the pump and if there are bad news such as the oposite of those acceptance from these companies, you'll see that there's going to be the dump.

and sure enough, many investors who invest make the price pump, but this is also limited in time, when the price is too high then start selling it, and I think this is natural

It's normal to see when the price goes up, there will be people selling for profits.

[tiCeR]

A company like Tesla would have to dump coins (be it bitcoin, DOGE, or something else entirely) on a daily or at most weekly basis to enable them to continue to send and receive goods from manufacturers and distributors alike.  Tesla may have a vertically integrated to the customer business, but eventually, they have to pay outside vendors.

With the price of bitcoin fluctuating daily, I wouldn't be surprised if Tesla has to cash in daily.

I would argue hat mainly depends on their profit margins and Bitcoin's average volatility for a specific period of time. If Tesla were willing to accept a certain speculative risk, which I don't believe because they won't be interested in turning their profitable car business into a speculative hedge fund sort of thing just by accepting cryptocurrencies. Way too dangerous during this phase of their corporate lifecycle and also probably not what shareholders want.

[Timelord2067]

I would argue hat mainly depends on their profit margins and Bitcoin's average volatility for a specific period of time. If Tesla were willing to accept a certain speculative risk, which I don't believe because they won't be interested in turning their profitable car business into a speculative hedge fund sort of thing just by accepting cryptocurrencies. Way too dangerous during this phase of their corporate life-cycle and also probably not what shareholders want.

You'd also have to factor in just how large a narcissist the car sales man is and how much control he has over the brand, board of directors and the shareholders.  If he felt he could push the price of bitcoin sky high for a second time, then it's possible (just possible) that Tesla may indeed be stockpiling some of their earnings with a view to cashing in when the price gains momentum (or, selling at a higher price than when they were first acquired from car sales)

[Levero]

Bitcoin's price fluctuation is not entirely affected by technical indicators, it will also be affected by some social news.
When Musk declared to accept Bitcoin as payment, the price continued to rise and remained at that level for a long time. When negative news appeared, it was vulnerable to negative news and the price fell. Although the impact of these news on Bitcoin's price is temporary, these major events and the operations of some large companies will definitely have a huge impact on Bitcoin.

[magneto]

Absolutely not. Bitcoin does not need the support of large institutions in order to survive.

Of course, the more merchants that accept and adopt bitcoin, the better, but no single entity is large enough or powerful enough to say that bitcoin is dead or bitcoin in unusable. The U.S. government cannot do this, so why could any other corporation that is under their direct supervision?

Sometimes market behaviour baffles me.

[Wong Gendheng]

Bitcoin's price fluctuation is not entirely affected by technical indicators, it will also be affected by some social news.
When Musk declared to accept Bitcoin as payment, the price continued to rise and remained at that level for a long time. When negative news appeared, it was vulnerable to negative news and the price fell. Although the impact of these news on Bitcoin's price is temporary, these major events and the operations of some large companies will definitely have a huge impact on Bitcoin.

Public figures certainly have an influence but not significant, I'm sure when the price of bitcoin fell not because Elon Musk gave a negative opinion about bitcoin, but because many countries rejected bitcoin the big one of course was when the UK refused Binance to operate in the UK.

[oHnK]

Bitcoin's price fluctuation is not entirely affected by technical indicators, it will also be affected by some social news.
When Musk declared to accept Bitcoin as payment, the price continued to rise and remained at that level for a long time. When negative news appeared, it was vulnerable to negative news and the price fell. Although the impact of these news on Bitcoin's price is temporary, these major events and the operations of some large companies will definitely have a huge impact on Bitcoin.

Public figures certainly have an influence but not significant, I'm sure when the price of bitcoin fell not because Elon Musk gave a negative opinion about bitcoin, but because many countries rejected bitcoin the big one of course was when the UK refused Binance to operate in the UK.

For me, the impact of Whales is still there and significant, however volatile crypto prices are actually when compared to stocks in terms of price movements, there are 2 influencing factors, namely technical and fundamental.  The negative issues given by the Whales will indirectly disturb the psychology of other investors, resulting in FOMO.  If there are regulations that also burden the market at that time, it is a fundamental issue that will have a fatal impact on crypto.  But the problem with Binance seems to be not only in the UK but in my own country it is banned and this is not a fundamental issue I think.

[Snappycoco]

News that comes out definitely helps spread words about Cryptocurrency and eventually could help the existing price action. I know that many of us here really hates how Musk spread Fud about BTC that leads to sudden price declination but we have to remember that Elon spread the word in his 59M followers in Twitter. I doubt that this price action however was because of Tesla and Amazon itself. I believe it was due to Twitter CEO Jack Dorsey talks with Elon and Ark Invest CEO Catherine Wood which leads to FOMO in newcomer investors.

[mojun7982]

Bitcoin's price fluctuation is not entirely affected by technical indicators, it will also be affected by some social news.
When Musk declared to accept Bitcoin as payment, the price continued to rise and remained at that level for a long time. When negative news appeared, it was vulnerable to negative news and the price fell. Although the impact of these news on Bitcoin's price is temporary, these major events and the operations of some large companies will definitely have a huge impact on Bitcoin.

Public figures certainly have an influence but not significant, I'm sure when the price of bitcoin fell not because Elon Musk gave a negative opinion about bitcoin, but because many countries rejected bitcoin the big one of course was when the UK refused Binance to operate in the UK.

That very much depends on who the public figure is and whether that figure acts within its space of expertise. When Musk talks about crypto that first had a massive influence because of his wealth and outstanding achievements in other areas (except for PayPal, which is kind of similar). When Bill Gates talks about software or computers (or Steve Jobs for that matter, were he still alive), that does have massive influence. Or Buffet, when he talks about stocks. Interestingly, we could see that Buffet's negative stance on cryptocurrencies had zero influence, literally zero, because it is not his area of expertise and everybody knew that. Nobody would easily attack Buffet for his opinion on stocks as this dude knows what he is doing, but when it comes to crypto everybody really knew he is a newbie with a skewed agenda on top of that.

[topbitcoin]

Tesla and Amazon are some of the many things that make bitcoin price movements. In the past there has been news about China supporting and banning bitcoin, and they keep doing it that causes the price to go up and down, The late John McAfee with bitcoin which made the bitcoin price go up almost like Elon Musk did, and because of that i think me who only hold bitcoin only can see it and keep holding, and without it bitcoin price sometime can be increased too because we have strong community and it is proven until now.