Quote from: Wawa2013 on August 05, 2021, 10:44:12 PM

Quote from: Distinctin on August 05, 2021, 10:29:52 PM

Quote from: Silberman on August 05, 2021, 08:52:05 PM

Quote from: tygeade on August 02, 2021, 09:00:14 PM

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.