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RE: Bitcoin (BTC) Morning Update: Wedge Recount and Label Shows Another Lower Low Today Likely...Could be Almost Done!
You mention change in your video. I wonder if sentiment will be changed as a result of the G20 meeting that begins tomorrow? It seems that we are coming close to a crucial juncture in bitcoins short to medium journey. What (if anything) is announced by the G20, how that is picked up by news reports and traders around the world and how that may impact on price is of course anyone’s guess.
Why is the value of the bitcoin so susceptible to news?
Look into groupthink. Bitcoin is a social experiment so ny default the thongs thay drove social discourse will drive price.
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Because news can instill fear or confidence. With something like btc, if the news is laced with fear it will likely prevent newcomers coming into the market and mass adoption.
I agree with @accra and @h00pla85 - With Bitcoin we also have to remember the major influence that social media including platforms like Steemit can have on the way people think and this only heightens the fear or confidence mentioned above. However, as I said in my OP it's very difficult to really measure what impact an individual news story has on the price of bitcoin because it's impossible for us to know how individuals will interpret the news and then act on it.
I used to be @Haejin's #1 fan. I no longer believe anything #Haejin post here on #Steemit.
You even upvoted me one day & then removed it. That really made me upset!!!
https://steemit.com/haejin/@born2crypto/haejin-predicts-bitcoin-will-be-usd270-000-by-2025