I would like to explain the effects of good news vs bad news on the price of bitcoin (how it may convince people to buy or sell or hold):

I will refer to Joseph T. Klapper, who in 1960 wrote of the limited effects model of the media: the media do not have predictable effects.  The effects of the media are small and unpredictable. The reception of a message depends on the source (credibility) and topic (preexisting opinion) of a message. The role of the media is to reinforce existing opinions. Confirmation bias. The media are more likely to reinforce opinions than to change them. Political campaigns and ad campaigns will typically find their way to those who are already among the converted.

Think about this carefully when interpreting the effects of news, good or bad.

It's also important to note that although belief in the limited effects theory later declined, to a perspective that the media did have a strong effect, but more nuanced and subtle and difficult to gauge, the general rules about the effects of media on the public still hold true. We consider ourselves opinion leaders, and this being a bull forum, might influence our decisions more than we might care to admit.

“The effort to state an absolute fact is simply an attempt to achieve what is humanly impossible.”  “All I can do is give you my interpretation of the facts.” - Ivy Lee