Market Update For Aug 5TH

[Marvell1]

It's quite weird to see how bitcoin's movement is now following US market.

The world's largest financial market is located in the United States, they are the center and bitcoin is part of the financial market, you do not need to be surprised that bitcoin's movement follows the US market. Bitcoin has a decentralized nature but that does not mean it can be immune and stay out of the world economy. For bitcoin to increase in price, we need a lot of money pumped into the market and the United States has the right to make those decisions.

We have bitcoin ETFs in Hong Kong, Australia and many other countries but why does no one care, and the whole market only cares and follows bitcoin ETFs in the US?
No one likes and wants bitcoin to depend on any country or organization, but we need to accept the fact that we are still governed and controlled by the US market.

[Republikcoin.com]

well things change in few days as market now goes back to its feet, though not completely high as what from last week at least now we are back in 60k and above .

The market will always change in a matter of weeks and even days and that has happened quite a bit this month with Bitcoin and other coins in the market. I am also quite enjoying the current Bitcoin price swings because it at least still gives me the opportunity to get in and buy Bitcoin with the money I have right now. In addition, some influences that can still make the market continue to change can also come again this month so everyone should be able to make quite the right decision when facing conditions like this because in any condition, we should not be at a loss.

[Alpha Marine]

It's quite weird to see how bitcoin's movement is now following US market.

The US has the biggest financial market. The financial market of the US affects many other countries, it's like a domino effect. This will affect the bitcoin price. Other countries can ban Bitcoin today and it won't affect the price as much as when the United States bans bitcoins. It's like the US is at the centre of things when it comes to the financial market so when something happens to the US market it affects other markets to a certain degree.
Also, the US is one of the countries with the highest holders of bitcoins so what those people do with their coins might affect bitcoin price.

[wxa7115]

It's quite weird to see how bitcoin's movement is now following US market.

The US has the biggest financial market. The financial market of the US affects many other countries, it's like a domino effect. This will affect the bitcoin price. Other countries can ban Bitcoin today and it won't affect the price as much as when the United States bans bitcoins. It's like the US is at the centre of things when it comes to the financial market so when something happens to the US market it affects other markets to a certain degree.
Also, the US is one of the countries with the highest holders of bitcoins so what those people do with their coins might affect bitcoin price.

This was going to happen sooner or later, since the more people enter this market, the bigger the influence of other markets, but even then this should not be a problem at all.

People have very short term memories, but the price is much higher than what it was just one year ago, so the current short term volatility means absolutely nothing for anyone that has been holding their coins for a short amount of time, so it makes no sense to worry over market movements that over the long term will be nothing more than noise.