Created by Satoshi Nakomoto in 2009, Bitcoin is the first decentralized cryptocurrency that is not affiliated with any official organization. Cryptocurrency is a digital asset, a virtual element, that uses cryptography to secure transactions, the way it works is designed as an alternative medium of exchange to cash. Crypto coins are a kind of digital currency and virtual currency.
Crypto money is not a currency that has been produced by any state. Decentralized cryptocurrencies therefore do not work depending on any bank. Bitcoin’s price movements vary according to Bitcoin transactions on the exchange.
There are fundamental elements that directly affect Bitcoin prices. The biggest element of these is that large institutional firms have started to invest
in Bitcoin . MicroStrategy CEO Michael Saylor made a statement on his Twitter account after the $ 400 million Bitcoin investment and Tesla’s permission to sell cars with Bitcoin and the companies that announced the $ 1.5 billion Bitcoin investment Bitcoin bull prices going upwards and the subsequent announcement of Bitcoin investments in other companies positively affected the price of Bitcoin positively. Following these statements, the Bitcoin price reached 43,968 prices. Goldman Sachs is known as the giant of the banking industry, and the ongoing news feeds with its clients investing in Bitcoin are very influential on Bitcoin. In the same way, these positive flows reflected in the market have pushed up the prices in the market, Tesla has stopped buying and selling cars with Bitcoin and Tesla CEO Elon Musk’s statements on the tweet have created a panic atmosphere on bitcoin and pulled the market down with panic sales. These statements and institutions are also interpreted as wanting to panic sell investors in order to sell from high and collect from below.
For this reason, negative news flow is provided to the market. With these news flows, the rising market is again affected by these negative news flows and passes into a downward trend. However, just as these news flows are negative, when they come back positive and consecutive, the market continues its upward movements again and rushes to new records by coming to the place where it is tested. In this case, we see that news flows have a great impact on the price of Bitcoin. With the regulation of states and the official recognition of Bitcoin, we can see a much more priced Bitcoin. Although Bitcoin prices have shown movement differences depending on the news flow, it continues its pricing in a gradual way and spread over time in its journey from its birth to the present day. This may allow us to see upward price movement.
