Quote from: AndySt on August 08, 2021, 11:59:10 PM

Quote from: jaysabi on August 08, 2021, 04:49:25 AM

Quote from: jakdanyel on August 07, 2021, 04:21:49 PM

Yeah, Bitcoin price doesn't care much about Tesla or any other company now. It doesn't fluctuate too much like the old times when these companies make a statement like they are going to hold Bitcoin or to accept payments with Bitcoin. I like that the market is getting more resistant against these kind of manipulations.

It's not really manipulation. The price is driven by individual investors who are trying to get rich or FOMOing in. When a company would announce they were accepting bitcoin, the speculators would pile in hoping to make a quick buck on the hype of "mass adoption." To the extent these types of things don't happen anymore, it's because it's just too big at this point. "Adoption" isn't really a driving force anymore in the price because the speculators can't buy enough to meaningfully move the price. It just takes too much money at this point.

It's just that a relatively calm time has come and investors have calmed down for now, because the big players themselves are tired of the frenzied volatility and decided to take a little break for now. But I assure you, this will not last very long and when some global financial or cryptocurrency events occur, the crypto market will not remain indifferent and a very cheerful autumn awaits us. It's just that when the market is inflated, there is a hysterical reaction to any event and the cryptocurrency market, due to its youth, is no exception. Therefore, I am not sure that the market has matured and become very stable, so future news from Tesla and Amazon will shake up the market more than once Wink

I agree and we are actually ver far from having a stable a crypto market. The dynamics in the market might also lead to crypto never becoming a more stable market. When you have some innovation in the car industry, authorities inspect everything closed and either allow a certain innovation or not. In crypto this different because it is unstoppable. You can't regulate something that you on the one hand don't see coming in the first place and on the other hand don't know where to go to because innovations are published as open source code in a decentralized manner. This will cause an ever ongoing uncertainty that will ultimately lead to market volatility. That is just my stance on it. I am not mad about it, I am happy to be part of this as Bitcoin or the Bitcoin code seems to be the sincerest realization of the freedom of speech principle we have seen so far. You can't stop it, you can just try to undermine it.