本文作者:maria.ka

Heres How Public News Impact on the Crypto Price Change

maria.ka 5个月前 ( 02-07 ) 117
Heres How Public News Impact on the Crypto Price Change摘要: ...

Heres How Public News Impact on the Crypto Price Change

16 hours ago via Coinspeaker

  • Bitcoin
  • China
  • Cryptocurrencies

Bitcoin (BTC), Cryptocurrency News, Guest Posts, News

Bitcoin price changed time and again with bull runs or bearish moves occurring after certain news about an economic or political event, government regulations, hacks on crypto exchanges, among others. But lets take a closer look at each of these scenarios and how the news about these events had impacted the prices of cryptocurrencies.

US-Iran Conflict Spikes Bitcoins Price

Tensions surrounding the US-Iran war influenced the prices of digital assets. Bitcoin, for instance, surged by 5% after the U.S. killing of Iranian General Qassem Soleimani on January 3, 2020.

The leading cryptocurrency also spiked on January 8, 2020, after Iran unleashed ballistic missiles at two American bases in Iraq in retaliation to General Soleimanis assassination. However, the market traded sideways when news surrounding the conflict between both countries began to wane.

Photo: CoinmarketcapUS-China Trade War Influences Bitcoins Price

As is the case with the US-Iran war, news that the US will increase tariffs on Chinese import goods impacted on the market price of Bitcoin. Bitcoin trades also surged by 284% between May 19, 2019, and August 19, 2019, when the trade war between both countries was in full swing.

Again, heres another scenario that is worth noting. When the U.S. President, Donald Trump stated on July 12, 2019, that he is not a fan of Bitcoin or other cryptocurrencies, the media went haywire and so did the price of Bitcoin. Bitcoin recorded an 8% loss barely hours after the tweet.

Why Public News Causes Leaps and Falls in Crypto Price

At this juncture, you may be curious to know why public news impact on crypto pricing. If thats the case, here are some possible reasons.

1. Panic Sell:

Public news can cause a wave of panic in the cryptocurrency space. Investors who speculate that an event may negatively impact the prices of these assets might dump them even before the news makes the rounds. Many do this to minimize losses. Accordingly, a massive sell-off across the crypto space will drive down the prices of these assets. The same applies to positive news emerging, which increases the buy orders in the market, thereby leading to an increase in crypto prices.

2. Investors Mindset:

Most investors monitor the latest events to ascertain where the market is headed. An instance is the case of Japan which recognized Bitcoin as a legal currency in April 2017. The news caused Bitcoin to spike over $1,000, trading as high as $4,000 by August of the same year.

Photo: Coinmarketcap ...

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Tags: Bitcoin, Price, Cryptocurrency, United States of America, Iran, News, War, Bitcoin Price, Qasem Soleimani, Donald Trump
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