Big businesses, corporations also influence the price of cryptocurrency market.

[uneng]

Breezing through some of the facts concerning Bitcoin, it became clear that businesses could influence the price of these cryptocurrency by making it a mode of payment for purchases of products or services. Making it more popular and making more people invest in them.

Musk has had an impact on the price of bitcoin, dogecoin, and the cryptocurrency market as a whole simply by announcing which coins Tesla will accept for car purchases.

Read more at: https://editor.guardian.ng/technology/10-facts-about-cryptocurrency-you-should-know/

Other businesses has done this too, and it has also affected the stock market value of these companies. Where businesses make more channels as payment options for those who don't have such cash in account or fear IRA or other regulatory and tax bodies that would trail one with such huge cash bases; the crypto holders acquire properties from the businesses who are ready to accept cryptocurrency as exchange for their products or services, thereby they influence the prices of these products or services when others see this success and subscribe to same means of payments for commerce.

Are there other factors that influence the prices of cryptocurrency? Let's discuss!

I believe in most notorious cases, speculators use businesses and companies to manipulate bitcoin's price. At least that was how Elon Musk used Tesla to boost bitcoin price, by introducing it as payment method for his cars, but removed the feature and badmouthed bitcoin right after, what triggered a crash right after on the market. The conclusion I take from that is: his goal has never been to adopt bitcoin as payment method. He simply wanted to make some fast profit prejudicing lots of investors.

The main factor that influences prices here is speculation on its essence, even if it comes camouflaged as payment method adoption by big companies...

[eaLiTy]

Breezing through some of the facts concerning Bitcoin, it became clear that businesses could influence the price of these cryptocurrency by making it a mode of payment for purchases of products or services. Making it more popular and making more people invest in them.

The cryptocurrency market is in a position that we do not need further adoption by companies to get people to check what BTCitcoin is all about, we are way past those thresholds and anyone in the financial sector is well aware of the cryptocurrency market. The main aspect that moves the price is always institutional investment and moving forward, institutional investors will determine the major price movement.

[SquallLeonhart]

Other businesses has done this too, and it has also affected the stock market value of these companies. Where businesses make more channels as payment options for those who don't have such cash in account or fear IRA or other regulatory and tax bodies that would trail one with such huge cash bases; the crypto holders acquire properties from the businesses who are ready to accept cryptocurrency as exchange for their products or services, thereby they influence the prices of these products or services when others see this success and subscribe to same means of payments for commerce.

Are there other factors that influence the prices of cryptocurrency? Let's discuss!

Price influences, depending on the size of course, is not something that is permanent, which means that they could influence it for the period that news is relevant, but after a week or a month, it will become old news and the price will be whatever it wants to be.

There were times when a big company accepted bitcoin payments, which made it go up for like a week but that's it and nothing after that, and then the same exact company took that off, and it dropped for a week but that's it, nothing more. So, these do impact the price of bitcoin there is no lie there, but at the same time it doesn't do it for a long time, just a sudden flash change, then nothing else.

[molsewid]

Any major headline would surely have an impact on the market price. Big companies, like Tesla, PayPal or Microsoft accepting Bitcoin as a payment option is definitely a big news and would sway trader sentiment positively, increasing the price.

This does not mean Big companies can constantly impact the price or influence how it moves up or down. Elon Musk tried to test the extent of influence he has and eventually lost a significant amount of relevance.

Are there other factors that influence the prices of cryptocurrency? Let's discuss!

Demand and supply are the main market factors. They in turn are affected by other secondary factors, such as;
• Major headlines.
• A breach or hack.
• Halving event.
• World economies.

I agree with this, remember the time that Elon announce that he holds some crypto in Twitter and then in an instant  many people invest after? and then he announce that tesla will accept bitcoin as well, many institutions attracted to bitcoin and then they invested to it, it happen last 2021 if I'm not mistaken influence people can make a certain coin like Doge to be hype in a certain period only but in marketing this will not last any longer it needs to have a continuous plan for it and yes the supply and demand has the biggest factor in the price of a certain token or coin as well.

[BTCBroker2016]

Don't think it can influence a lot at all of this

[Frankolala]

Demand and supply is the basic factor that will affect the price of bitcoin. Businesses can also affect the price but it will be in short term,because bitcoin price is fine even without the businesses accepting it as an alternative means of payment.

Halving,crashes of exchanges and the world economy will all affect bitcoin in short term. Bitcoin has survived so many of these,bitcoin repeats it movement pattern in every four  years,this shows that no matter the manipulation in the market,bitcoin will resist it.

[serjent05]

Maybe it's true that businesses that accept crypto as payment can affect the price of crypto, especially now that many businesses are starting to do it. And business people have also realized that crypto can not only be an investment but can also be used as an alternative payment. But still, in this case, businesses will always look to the government for more information about how the government is doing with crypto. And if the law from the government says that crypto cannot be used as legal tender, businesses can't do anything either. Business people and their businesses can only comply with these regulations because they live in their country and are subject to applicable laws.

Businesses that accept cryptocurrency on a large scale can affect the price of crypto, it brings volatility to the market because there is demand when the customer buy Bitcoin to pay for the merchandise and there is supply when the merchant decided to sell the bitcoins that they accept and the process repeats.  Even in an automated system, the moment there is a buy on the product of a merchant and uses Bitcoin as payment it bring demand to Bitcoin but of course, it cannot be felt if it is only on a small scale.

[coupable]

Aren't these companies can be called big whales?  It is well known that these entities can influence prices and also manipulate them, had it not been for this being done in a deliberate manner so that no competitor would be harmed and the ship would sink with everyone.

So are you saying that anything that can affect market prices are "whales"? With that logic, the US government is a bitcoin whale because they can affect bitcoin's prices due to regulations lol. That doesn't make any sense at all.

I do not know how you understood my idea, but what I meant is that the big whales can be responsible for some price movements, and it does not mean that they are the only ones responsible for that. When I say big whales, I mean those giant companies that own huge amounts of bitcoin or are able to buy huge amounts of money in record time. You can imagine what could happen. Those same whales can influence the price in other ways, including spreading panic and fake news.
There is no similarity between the big whale companies and the US government, but both can influence the price in a different way, and the government should not be called the big whale, just as it is not permissible to call the companies a "government".