Does Bitcoin Trade On News Or Things Actually Happening?

in #bitcoin6 years ago

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Bitcoins become what I believe is just like stocks but even worse. In terms of trading bitcoin it is ALL news related.

Just like with our massive recent sell off of ETFs being pushed back for decisions from the SEC till September has no effect on bitcoins price nothing happened!! Yet the price dropped to all time lows within a few days. A clear over reaction to news that really was not news.

With that being said is not a great time to buy Bitcoin?

Most likely yes however since bitcoin solely trades on news we all know that news continues to bash bitcoin instead of propping it up.

Also if the ETFs do get rejected in September be prepared for what could be a massive sell off.

OR

If ETFs get approved get ready for one of the biggest increases yet for bitcoin its going to make 20k last year look like a joke!

Where is your stand ? Do you believe bitcoin is traded simply on news anymore instead of whats going on with it? Will ETFs or at least a few finally be approved?


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I have no idea at all so I'm holding until it goes back up

Like any investment, it trades on news. Few investments trade purely on fundamentals.

I think it mostly trades on TA still but big news tips the scale in favor of one side or the other. Given the amount of stop losses on the exchanges, it is not surprising that we are seeing these accelerated moves after news is announced. It also shows how liquidity seems to be drying up which could actually be good for the price because it shows more people holding which could be due to more HODLers.

Very true, crypto market is fully dependent on News.

I think people blame the dips on bad news a little too much

Just shows how thin the market is....so much TA analysis and so many "bots" all buying and selling at the same levels....since market so thin...they have a lot more influence on market than a more mature....market value like stock market....so when a "sell" price is hit....multiple traders all rush to the door at same time...

If you think Bitcoin react to the news, a government can control it easily without spending a dime!

Very good posts, hopefully a successful brother is always in the esteem business

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@bitcoinflood, I'm interested in the same topic as you, let's spin it together. I signed on to you, I hope you'll sign up for me. Always glad to meet new people!

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