Post
Topic
Board Economics
Re: Bitcoin doesn't care about Tesla and Amazon
by
Vishnu.Reang
on 03/08/2021, 14:53:24 UTC
And this is a real proof that the bitcoin market is very strong, not affected by big companies and even banned from many countries, more than $750B marketcap certainly makes bitcoin not easy to get rid of.

If anything, the recent fluctuations show the weakness of Bitcoin. Hundreds of billions of USD in market cap was wiped out in a matter of few weeks, just because of a few tweets and rumors. Bitcoin market hasn't yet reached the required maturity and until then we will have to deal with such wild fluctuations. And remember that the statement from Amazon was interpreted as somewhat encouraging for the cryptocurrencies. Else, in all probability we would be having another round of bloodbath in the market.