Why El Salvador's recognization of Bitcoin didn't create a significant impact in crypto markets?

[Whited35 15285]

Everyone knows, El Salvador was the first state nation in this world to adopt Bitcoin as the legal tender(No matter whatever the current situation in El Salvador is). It was not a normal announcement if we are talking about the crypto's real-world adoption but that news did not create potential impacts to inspire the bullish sentiments in the crypto markets. You know, Elon Musk is a famous figure who creates repeated crypto-related Tweets and his single Tweet can massively influence the cryptocurrency markets no matter he has been doing such activities for a long time.
So my question is,
Why his single tweet playing a crucial role in the crypto markets than the crypto adoption announcement from a state nation? 

[kyoukage01 3181]

On 6/22/2021 at 11:07 AM, Whited35 said:

Why his single tweet playing a crucial role in the crypto markets than the crypto adoption announcement from a state nation?

In the case of Musk, unlike the past, his tweets are not to be taken lightly more than ever now that his company Tesla hodls a substantial amount of Bitcoin. Every words he say regarding crypto are to be watched out for and crypto traders should be wary of his next move. Like him saying that Tesla will pull out of using BTC for car purchases to create a fear market. Yeah sure, Tesla announced that it will no longer transact with BTC for the time being until the environmental issue is resolved, but who's stopping Musk from having him quietly buy BTC and alts with his own personal funds when crypto is cheaper?

 

Sheep tend to flock to more influential individuals for a variety of other reasons. And he IS one of the richest men in the world after all, so the influence is definitely high up there.

 

On 6/22/2021 at 11:07 AM, Whited35 said:

El Salvador was the first state nation in this world to adopt Bitcoin as the legal tender

On 6/22/2021 at 11:07 AM, Whited35 said:

... but that news did not create potential impacts to inspire the bullish sentiments in the crypto markets

El Salvadorans' nationwide adoption of Bitcoin is going to take some time now that the IMF gave the country a cold shoulder over assistance with the cryptocurrency's implementation. Until then, we have to wait for further good crypto-related news from that country and other sources to get rid of the fear market.

 

In the meantime, crypto-haters are giving us a bad time here and there. I think the worst of all bad news is China's crackdown on crypto miners. China not being dead serious enough? **** just got real.

https://www.scmp.com/tech/tech-trends/article/3138342/chinas-bitcoin-crackdown-mining-equipment-and-carbon-emissions

 

Edited June 25, 2021 by kyoukage01

[Whited35 15285]

On 6/25/2021 at 9:26 AM, kyoukage01 said:

Tesla announced that it will no longer transact with BTC for the time being until the environmental issue is resolved, but who's stopping Musk from having him quietly buy BTC and alts with his own personal funds when crypto is cheaper?

Certainly, he is doing this even now to purchase a huge amount of Bitcoin. His trick is to grab conventional money off Bitcoin by accusing the environmental issues and recently, he attempted inspire the bullish trend of BTC market telling something like Tesla will be reconsidering BTC if there is 50% overall usage of renewal energy to mine BTC but how would he know the miners are using renewal energy or not 😂 ! 

Anyway, all about Musk and his tricks as a influencers to deviate market's sentiments and now let's move on El Salvador.

On 6/25/2021 at 9:26 AM, kyoukage01 said:

El Salvadorans' nationwide adoption of Bitcoin is going to take some time now that the IMF gave the country a cold shoulder over assistance with the cryptocurrency's implementation.

Now, I am searching so many aspects of El Salvador. Looking like the world is gawking to see how El Salvador take BTC as the practical usecases. That's why your opinions do make the sense here 😉

On 6/25/2021 at 9:26 AM, kyoukage01 said:

In the meantime, crypto-haters are giving us a bad time here and there. I think the worst of all bad news is China's crackdown on crypto miners. China not being dead serious enough? **** just got real.

https://www.scmp.com/tech/tech-trends/article/3138342/chinas-bitcoin-crackdown-mining-equipment-and-carbon-emissions

Looking like China is not creating the FUD 😂 Rest of the world is still thinking, China is still the player.

[kyoukage01 3181]

22 hours ago, Whited35 said:

Now, I am searching so many aspects of El Salvador. Looking like the world is gawking to see how El Salvador take BTC as the practical usecases.

In another topic, I posted an update with a shared link where other South American countries are now trying to emulate El Salvador even though it hasn't been fully implemented yet. Listed are Guatemala, Panama and Paraguay (with even a couple or so African nations). When it comes to national policy on crypto, El Salvador can be said to be creating FOMO on a continental scale 😂 .

 

22 hours ago, Whited35 said:

Looking like China is not creating the FUD 😂 Rest of the world is still thinking, China is still the player.

Even when I was still learning about crypto, I was shaking my head at why crypto (BTC) mining is too centralized on China. But with the latest crackdown, maybe this time crypto mining can become more decentralized. Crypto experts (at least what I've read so far) also agree that this will benefit the crypto industry in the long run, but for now we should brace ourselves first for what this situation is currently causing the crypto market.

 

23 hours ago, Whited35 said:

Certainly, he is doing this even now to purchase a huge amount of Bitcoin. His trick is to grab conventional money off Bitcoin by accusing the environmental issues and recently, he attempted inspire the bullish trend of BTC market telling something like Tesla will be reconsidering BTC if there is 50% overall usage of renewal energy to mine BTC but how would he know the miners are using renewal energy or not 😂 ! 

All the more reason why Musk's alleged crypto market manipulation via Twitter is something to watch out for. Traders can take advantage of the FOMO/FUD Musk is causing whenever prices become volatile due to him 😂 .

 

[Whited35 15285]

On 6/27/2021 at 8:59 AM, kyoukage01 said:

Listed are Guatemala, Panama and Paraguay (with even a couple or so African nations). When it comes to national policy on crypto, El Salvador can be said to be creating FOMO on a continental scale 😂 .

It is gonna be interesting to see the trend and hope rest of south American countries are not creating the chaos 😊 and, even the FOMO is for the continental scale, let's check how El Salvador tackles the every obstacles. I was getting the news, the country is airdropping $30 worth of BTC to the citizens fulfilling the certain requirements. 

On 6/27/2021 at 8:59 AM, kyoukage01 said:

Even when I was still learning about crypto, I was shaking my head at why crypto (BTC) mining is too centralized on China. But with the latest crackdown, maybe this time crypto mining can become more decentralized.

Hmm, check this news https://decrypt.co/74584/bitcoins-hash-rate-recovers-from-chinas-mining-crackdown

On 6/27/2021 at 8:59 AM, kyoukage01 said:

Traders can take advantage of the FOMO/FUD Musk is causing whenever prices become volatile due to him 😂 .

But due to this man, I have negative impacts in my BTC and the ETH portfolio. I used to think like BTC is still moving forward. 

[Ridam 7455]

On 6/22/2021 at 8:52 AM, Whited35 said:

Why his single tweet playing a crucial role in the crypto markets than the crypto adoption announcement from a state nation?

From this information it is clear that the big players are playing in the backend and are leaving the blame on the head of the news and the influencer like Elon Musk who enjoy making people homeless.

And personally, I think the decision of El Salvador has really big impact on the demand chain of the Bitcoin. Even if we don't see any big pump in the price of the coin, in long term it will impact the price causing the spike in the demand. 

2017-2018-Institution, 2021-2022-Governments, 2025-2026-???

[Whited35 15285]

On 7/8/2021 at 6:17 PM, Ridam said:

the influencer like Elon Musk who enjoy making people homeless.

He played the crypto games to make people homeless 😁? At least investors had to be aware, even the popular figures can play the games 😉.

On 7/8/2021 at 6:17 PM, Ridam said:

2017-2018-Institution, 2021-2022-Governments, 2025-2026-???

Not clear but most likely, there will be the aalternative solutions against PoW-based blockchain networks to encourage the wider adoptions with the extended blockchain based applications. I think there will be all sectors to use blockchain technology at that time. 

[Dagamand007 12021]

On 22.06.2021 at 06:07, Whited35 said:

Everyone knows, El Salvador was the first state nation in this world to adopt Bitcoin as the legal tender(No matter whatever the current situation in El Salvador is). It was not a normal announcement if we are talking about the crypto's real-world adoption but that news did not create potential impacts to inspire the bullish sentiments in the crypto markets. You know, Elon Musk is a famous figure who creates repeated crypto-related Tweets and his single Tweet can massively influence the cryptocurrency markets no matter he has been doing such activities for a long time.
So my question is,
Why his single tweet playing a crucial role in the crypto markets than the crypto adoption announcement from a state nation? 

Unfortunately, El Salvador's recognition of bitcoin as a means of payment has not affected the growth in any way. But when the ETF was launched, then bitcoin began to grow very well. Now many experts predict growth, up to 100k $.
elon Musk is a brilliant man, but it seems to me that with the help of his tweets he manipulates people and he likes it.

[Whited35 15285]

On 10/25/2021 at 11:50 PM, Dagamand007 said:

elon Musk is a brilliant man, but it seems to me that with the help of his tweets he manipulates people and he likes it.

Exactly. This clever man has been using the techniques of influential marketing to manipulate the price. His most famous role is seen on Dogecoin's gameplay. I guess, he is still using BTC trade as the convential money 😜 ! Wait, BTC bullrun is initiated in the market, let be careful before the Christmus 😉

[Dagamand007 12021]

17 minutes ago, Whited35 said:

Exactly. This clever man has been using the techniques of influential marketing to manipulate the price. His most famous role is seen on Dogecoin's gameplay. I guess, he is still using BTC trade as the convential money 😜 ! Wait, BTC bullrun is initiated in the market, let be careful before the Christmus 😉

Still, it is interesting to follow Elon Musk when he is immersed in an owl business unrelated to cryptocurrency, he is doing well there.
Before Christmas, traders will start transferring cryptocurrencies to fiat in order to celebrate the holidays. I think in December we will see a decline in the price of bitcoin.

[Whited35 15285]

On 10/31/2021 at 9:52 AM, Dagamand007 said:

Before Christmas, traders will start transferring cryptocurrencies to fiat in order to celebrate the holidays. I think in December we will see a decline in the price of bitcoin.

So adjusting the stop-loss prior to Christmas by tracking the current market trends can be the smart ideas. Previously, I missed the bullish trend to liquidate my holdings and compelled to wait the whole one year. Now, there will not be the same mistake. 

But dude, it is not spoken wildly but there is an interesting connection between U.S. stock market and crypto markets. For example, whenever you notice aa huge sell of on the U.S. stock exchange, Bitcoin market is generally collapsed. 

[Maaz sultan 265]

Ant the end we are seeing that the republic takes loses because of a very high dum of bitcoin but they seems to be positive about the future of crypto field and thats the point that Bitcoin need to become No 1 financial asset amoung all the finances .