Re: Bitcoin dumped to $89k then pumped to $97k the next day - the reason why
This is a proposal only. Or isit a confirmed news. If this comes out true, it can have a very positive impact on prices. Not only directly , it will increase the demand of Bitcoin but other companies also follow Facebook and this they will also do the same. It will create a very friendly environment for growth of Bitcoin.
It doesn't seem to matter much for the surge in price since any good news that billions are potentially going to be poured into it's market was enough to pump up the price. As we all know any negative sediment such as a major crypto exchange being hacked for millions worth in bitcoin or it scamming all their customers will certainly dump the price massively as we have seen with FTX several years ago.This is the reason why I believe caused it to come out of the ashes of misery yesterday:
Meta Advised to Bet on Bitcoin for Inflation Hedge - a proposal has been presented to Meta’s board. It suggests the company allocate a portion of its $72 billion in liquid assets into Bitcoin.
Meta Advised to Bet on Bitcoin for Inflation Hedge - a proposal has been presented to Meta’s board. It suggests the company allocate a portion of its $72 billion in liquid assets into Bitcoin.
This kind of news can easily trigger speculation thus I think that this announcement by Meta made a contribution to why Bitcoin recovers after dipping to $89k.
The recent Bitcoin price movement indicates that there is someone cashed out led to the market dip of $89k but more investors see this dip as a window to reinvest or put more money in order to take profit during this bull run thus enabling the market to recover instantly.
It's only one man though, as far as I know from another thread - but the news is indeed bullish.
Meta is onto something if they would conclude a positive outcome from this offer.
They would be able to take a bit of the lead for themselves.
Watching the mainstream media today on Yahoo News they were saying that bitcoin is in sync with the S&P 500:
https://finance.yahoo.com/news/bitcoin-and-stocks-have-been-moving-in-sync-morning-brief-110025869.html
https://www.youtube.com/watch?v=oYokCSj5TQk
Trump even while ringing in the stock market beginning bell for the trading day talked greatly about how bitcoin has been performing since he was elected as President.
Meta plans to downsize their workforce by 5% so this might be a sign that they are cutting costs so to make this proposal a reality.
https://www.cbsnews.com/news/meta-layoffs-5-percent-workforce-cuts-low-performers
https://www.verdict.co.uk/meta-lay-off-low-performers
https://www.bbc.com/news/articles/c3e18lnl20po
[img width=606]https://talkimg.com/images/2025/01/15/OlXdl.jpeg[/img]
https://www.euronews.com/business/2025/01/15/meta-to-cut-5-of-workforce-targeting-lowest-performers