Bitcoin Forum

So is it safe to say that all this billionaires in the society controls the crypto market, because why's it that whenever they tweet about a project or just say a random words, the project start to pump?.

What's your opinion guys?

It's not controlling the market exactly, it's just that a large number of stupid minds are willing to be controlled, especially the followers.

This is such a Liz Truss kind of question: about the rich and if they really manipulate the market  :D

Most cases are as rat03gopoh mentioned: the welthy and influencial control the minds, more or less, of their followers and once the coin in question isbhyped enough they sell out and leave many bag holders in the process. And apparently this never gets old.

well i can say it make sense as they're known whales in the market, wherein once they contribute on the project its not surprising that there's always a progress afterwards .. But for a tweet or whatsoever it is that they posted in the internet ? No i don't think so.. Unless if all people who sees their post are literally investing on the project itself..

The same goes for influencers - people who have a strong following on social media or blogs and whose recommendations carry weight with their audience. Anyone can tweet something, but if it's someone who has a significant following, then it's more likely to be noticed and can get a lot more attention. If people see something on their timeline that they agree with or find interesting, they'll share it with their own followers. If enough people do this, then the tweet becomes more popular and is seen by even more people. Projects that otherwise no one would have heard of can now enjoy a burst of interest just because of a celebrity endorsement. It's a symbiotic relationship, benefiting both parties.

Half true. Sometimes they are buying early then do some kind of shill tweets to hype there blind followers to purchased the token that they are shilling. They didn't control directly the price but rather they just mind condition there followers to push them purchased in impulse using there hype tweets. Billionaires can easily manipulate the people thoughts since they have the money and people think that they can pump the price by there own money while reality peoples money is what makes the price pump including the traders that riding the waves just to feed whales when they are ready to take profit.

Those tweets have ruined may lives and have changed my lives too, not everyone is stupid in this space, when doge coin was shill my Elon Musk I was able to buy some and believe me I made gains that I've never made in crypto space before, all you have to do is buy early, do not be part of those that buys when the take off is already in play.

Safe or not actually being affected by so many factors. The era for such thing already passed. This time people didn't care anymore with BS tweet. if that's about a big update from developers or things that have relationship with the token and it may create a pump.
You shall se what happened with doge coin after elon was taking over twitter. There are so many rumours about doge being used as micropayment in twitter. The acquisition of twitter by elon has been increasing the chance for this rumour to be come true.
This is why the pump has been triggered. I think that there would always be a reason why a coin got pumped so hard. it's safe as long as you understood how it works like buy in rumour sell for the news

Somehow I believe that a people with influence can somehow manipulate the market. We have seen this on the last bull market when Elon Must tweets about DOGE, the price will suddenly went up and I think it is cause by massive number of people buying it because of that tweet. I've also seen this on NFT market where NFT influencers are shilling and suddenly floor price are also going up. NFT influencer also do project partnerships which somehow people are buying NFT because of some influencer being part of it. I believe that it can be manipulated but it will not last long and will not be effective compared to the first shill that these influencers do. Everyone wants to ride the wave.

In my opinion the influence of those super wealthy people is not as big anymore as a few years ago. A while back when elon musk made his first tweet about dogecoin, it did not only make dogecoin itself pump like crazy it also started the whole shit coin hype wave, which has brought us literally hundreds new shit coins each and every day for at least a few months. Now 99% of those shit coins are already dead again. Of couse big news like aquisation of Twitter still have an impact.

I do not believe that the billionaires and rich can somehow control the crypto market. Yes it's true we have seen several times Elon Musk tweeting about DOGE & SHIB since he has millions of followers and from there many invested in DOGE Coins.  So Doge Coin pumped a lot at one time.  But it didn't last long.  Its price has once again fallen far from its ATH.  At that time DOGE pumped high because this was Elon's first tweet about altcoins.  But now none of the coins pump much for Elon's tweets. So on this basis it does not imply that billionaires can control the crypto market

Are you referring to Elon Musk? Because he does such mischief mostly as far as I know.

No worries, people/his followers have stopped paying much attention to his tweets and I am sure one day, no one will buy or sell on his tweet.

The answer to your question is. No, he does not control the market, if he had control over the market, his company tesla wouldn't have sold their bitcoin at loss.

The best way to have peace of mind is to stay away from such personalities and influencers because not because they control the market, but because they influence their followers, they easily get attached to whatever comes from such individuals.
Take Elon musk, for example, his tweet has helped dogecoins to raise popularity but I know that is done just to protect his investment in the project.

Not all billionaires into crypto but it's safe to say that there are billionaires indeed in this space. And they're getting that crowd attention when they tell something good which is making the crowd and the community active. It's just the reaction of many that wants to be like that.
But when these influential people realizes that, they're using their fame to manipulate the market into their favor and advantage.

That's how people do when influencers say something about their interest subject. They will just follow whatever crap those influencers tweet/say in social media which makes everything run that is not supposed to see at that day. It's so easy to be manipulated these days by those big person especially when the subject is involved with money and investment, they will for sure follow it.

That’s their influence but still they have no control over crypto.
Huge investors of Bitcoin though can affect the whole market as they move their funds, there’s a risk following those Billionaires and better to monitor the trend because a simple announcement that they make, it can change the whole trend. Elon for example shilling other projects, many will take advantage of that to create another hype and probably the public will follow many will make profit while many will suffer a loss.

Indirectly taking it to be media personalities or influencers, there are only few people who could speak about any upcoming crypto or coin and it has a great effects on it, I could clearly remembered when a tweet was made about dogecoin, babydoge and more, within few days there was a massive turnout about those projects because they believe all tweets from such people have a great effects maybe after a while it could turned to pump and dump.

Maybe it's because they have such a huge following that it can trigger to move the market that it looks like the coin is getting a big pump. So when those billionaires say something about a particular coin, their followers immediately think that the coin will be able to get a pump. But the followers drive the price because they think that way and the billionaires, in the end, just wait at the peak price and close the trade by earning huge profits over their followers. If his followers could think long about what the billionaires said, they would not think short but would analyze further and act calmly.

Not atll my point of biew is Money control the crypto market and as you mentioned that Billionaires have money to control market dear in crypto market the maximum capital is of the distributed investors as me and you small investors gather maximum capital in Billions and Billionaires spend millions in the market capital. Simple point is Billionaires own maximum money in economic cycle but they own less spending power as compared to their net worth.

Maybe there are some who can at least manipulate the market for a short amount of time, but there are some who has no effects on the market whenever they are posting on social media.

It isn't directly controlling the market, but they are just using their influence and popularity to lure the dumb money. Lure the investors who can easily fall into their trap. Remember when Elon pumped DOGE. Yes, many made money because of it but I still believe that many lost their money more than the number of people who gained profit to it. The project sometimes starts to pump because of investors believe that when they state a particular coin, they believe that they are supporting that coin and they believe that it will pump because of that thus, they will start to buy and as more people buy, the price increases.

Whether it is a billionaire or an influencer or a Youtuber, don't follow what they are saying and just follow your strategy.

With the current conditions, we must be careful and must be wise in making decisions.
always consider before trading and sometimes people forget about it,
With the current market conditions, it is certainly not that easy to increase the price of Dogecoin

Not all billionaires can manipulate the market, only a few are interested in the crypto market and can say they can manipulate the market for a short enough period of time for them to make a profit. Before that, we have seen John McAfee manipulating the market and more recently Elon, the richest billionaire in the world.
Last year, with just a few tweets, he was able to make the bitcoin price correct in the short term, especially dogecoin, the coin he manipulated the most, with just a few tweets he made the price doge increase several tens of percent.

I don't think billionaires control crypto. How many billionaires in crypto do you know apart from Elon Musk that made himself known to the world about Dogecoin? It was before that a billionaire can easily influence their followers on crypto. People are learning to become wiser not to moved by every tweet a billionaire made about crypto without carrying out their research on the project. The billionaires you do see in their tweets about a particular coin are paid for that promotion.

It's the followers.
Most of them are people who can afford to buy a large sum of coins that the billionaires are advertising.
One example was when Elon Musk talked about Dogecoin. Think about the circle of friends that dude has. They will all try to follow what investment strategy he is doing and that's a freebie when he tweets it to the public. Because it is not done just for mere fun, basically, they analyzed it first and it worked out just fine.
But not every billionaire will have the same ending as he did.

This is how the power of social media works. Everyone knows that when, for example, Elon Musk speaks positively about some crypto, its price will increase by xxx% in a moment. The snowball effect is created. Agree that it can be a dangerous phenomenon and it definitely bears the hallmarks of market control, but there is not much that can be done about it. You always need DYOR, because it happened many times that various celebrities and influencers were paid for promoting various types of scams.

Money is one of the identities of a successful person, anybody with a lot of it commands respect and naturally has people who will take their word seriously seeing that they already have a lot of money and it must mean that they have taken a lot of right financial decisions to become billionaires. People who are not yet billionaires but are hoping to be one someday will always be curious to know the financial decisions these billionaires are making, and it can make people quick to believe and follow whenever they tweet about a project or give a hint that they are into a certain project. The idea that since these billionaires are involved means it is a good financial decision, make people rush to it.

Billionaires can do impossible things to possible and of course, they can manipulate the market if they want to but not to the point that they are controlling the entire market. Once these people buy more coins, the volume will increase instantly and making the price pump and making small investors think it went high and buy as well. It literally influences the mindset of the small market players and just like how Elon Musk did, with the help of social media he made it clear moving Dogecoin at a huge spike that nobody is even expecting to it.

They don't manipulate but it is only those people who blindly followed then whenever they tweet something about crypto who are making the price increase. We cannot blame them because they know that those billionaires are wise when it comes to money decision makings and they will quickly followed them whenever they see their new tweets regarding investment. But nowadays people are smart, they don't quickly jump into the hype because they always learned their lessons from last time.

The point is that the masses are influenced by the decisions of the elites. In the case of cryptocurrency, it's a game of numbers and everyone is striving to take advantage of the market. Billionaires have followers who are ever ready to act on impulse and that has contributed immensely to the pump and dump we've been having.

They basically just manipulates the market for their own benefits. They choose a coin or project at first and buy as many coins as possible, then they just create fake hype, which leads to more hype among larger masses and this leads to increase the demand of the coin or project. As we know when something is limited in numbers and demand increases, then it leads to price increase. Now the whales just sell their coins and made quick easy money just by using the people and market. So yes the billionaires do control the crypto market.

We don't know how many billionaires are in crypto market, but there could be many of them investing anonymously or through their partners. Since they have money to spare, it is pretty possible they create fake hype by heavily investing in random altcoins, so other investors follow the trend pumping the altcoins' prices even more. After a while, initial investors who created the hype sell their holdings, recover the investment, make profit, while late investors are caught by surprise by a dump and lose money. That is how the ponzi scheme works in crypto market, possibly boosted by billionaires or whales.

Elon Musk likes Meme so much that he was more inclined towards Dogecoin and he tweeted Doge Coin as one of his favorite coins and he still raves about Dogecoin but now people don't invest anywhere depending on Elon Musk's tweets like before . because  Those who invested in Dogecoin during the pumped and hold doge to depending Elon Musk's tweets are now in for a big loss.  Doge price was once above $0.70 but now it is down to only $0.11-0.12.

But please notice that DOGE has an unlimited supply, but demand is increasing rapidly due to Elon Musk's influence, so the hype going on for DOGE won't see limited supply as it works on different systems. Whales or billionaires have the influence to continue to manipulate prices, but Elon manipulates only through his tweets.
But even if those with a lot of money were able to manipulate it, it wouldn't last long, they weren't able to completely control it.

These billionaires are not controlling the market directly, it's through their followers who believe everything they say either to create hype or spread awareness to the people following him.

Thus, if this particular billionaire has a huge followers that can be easily influence, then you can expect them to follow specially if they're not a kind of people who verify first the information before making a decision.

It's called "influence". It's the same reason why churches hold a lot of power at times if you want a comparison. They're not even doing it themselves really, they're letting people who are influenced by them do it themselves or people who want to take advantage of that influence to make things bigger. Even millionaires without much fame could still influence the market by paying off other people with said "fame" instead. It's not only limited to millionaires though, as I've said it's influence that sways people, money can just be one part of said influence.

Because they have fanatical followers who sometimes don't use their brains to find out the truth about what these people are tweeting, but there is another thought that Elon Musk's exemplary tweets are used by other groups to spread optimism or fear so that the market will move quickly according to what they want.
Everywhere the rich will dominate when it comes to money but not all of them who plunged into the world of crypto are involved in the manipulation of crypto price movements.

Because the billionaires can provide temptation for many people who become their followers so that they can comply with the wishes of the billionaires without much thought, it's not necessarily profitable for the people who follow it. If they want to find out what makes billionaires tweet about a project before making a decision, they'll see if it can help them make a profit.

It depends on what we do after reading their tweets and not taking hasty action so we don't feel cheated afterward. In addition, we must be careful in acting because not all billionaires are willing to help us.

Well normally, you would expect those kinds of wealthy people to have a huge number of followers and those people will always want to do what their influencers are doing or talking about most of the time without verifying, and sadly, that's what fans do. So if these billionaires should for any reason tweet about a crypto projector or something remotely close, their followers will try to take advantage of that to get ahead and I don't think this happens only to crypto projects.   

I think the same, billionaires alone don't move markets. It's better to say how billionaires with their funds are capable of starting waves! Of course, those who start the wave and jump out before others get smashed on some rocks are the ones who take all the profit. I guess we have seen that happening a zillion times in crypto... that's probably something common that happens more often than we think, I don't really follow those stuff except in case something big happened and it becomes viral.

I know what you mean is Elon Musk, Elon Musk made a big impact in the crypto world, it wasn't long before he really fell in love with crypto in 2020,
of course with his enormous followers from all over the world, of course it will have an impact on something he tweeted, for example Doge and Bitcoin,
is very reasonable but indeed we also have to be careful with the pump, because it could be a fake pump.

He’s a billionaire who publicly exposed his support to a certain crypto and yes he influence the market a lot but when it comes to control I think he can’t control the market alone, this may take a lot of billionaire before they actually control the whole cryptomarket. Let’s see if Elon will continue to hype DOGE especially now with a help of twitter acquisition, that could be the start of it.

Ypu are specifically talking about dogecoin. It's such a useless coin that's why it pumps when it gets elons attention.  Billionaires talk about bitcoin all the time good and bad.  It's not affected in any way.  Shows the true progression of the bitcoin market.

it's not only happening in cryptocurrency market but in stock market, whenever billionaires are bagging some of the stocks, immediately the value for this stocks increase because there are waves of people that follows the billionaires, so if it's cryptocurrency that's being shilled and it increases its value, I think it's rather normal, after all, that's just how big of an influence these billioniares have in their words, that could literally brings in huge waves of bullish investments flow.

What goes down with this tweets is the reactions of buyers. Most holders of a particular project base their research on the tweets of this influential Billionaires in that if the same price will pump they all rush in and buy and price eventually pumps and when those so called billionaires get a satisfactory profit the pull out their funds and gradually price begins to dip until it finally crashes in most cases.

This is just one way for them to benefit by making it look like a project will be great in the future. In addition, they make it seem as if the price of the coin or token is very good and will eventually skyrocket quickly, but this is where their real goal is, they just want to get high profits. If they feel they have had enough, then the price will slam again and drop drastically. And who is harmed? Again, small investors are the victims of the hype.

That is why it is better to avoid this kind of new hype project fi you don't know when exactly the best time to enter and out. This will be about the market manipulation in which is very risky for moreover newbies to do. Noting is safe for this.