Bitcoin Forum

Is Elon musk still market booster and markit crusher or markit just moving on news and Elon musk investment in Bitcoin or just published news about that

Elon is yesterdays news, no one cares about him anymore and he cant move market the way he was for the first time. He went into crypto because he was bored and to ride the hype so thank god that he finally left.

Op kindly correct your spelling mistakes. Not markit it will be market and Elon musk is a crypto influencer and he already manipulated Dogecoin 's price for the several times. Many crypto traders follow his movement. So I can say Elon must can manipulate crypto market shortly and it will be stable within a short time. So we should research by own by not being manipulated by anyone if we want to be safe.

He was the one who influenced the market very strong. In the future, with Twitter, it will be again, but i dont think it will be as strong as before. Elon Musk has a huge fanbase and also a lot of money/power, so he will eventually come back into crypto space. I hope that Twitter will become a kind of crypto exchange, because binance was involved in the deal of Twitter/Musk. The name could be twittbin. Since binance is currently under attack by the American state, CZ could look for alternatives.

On a tweet a few days back, Elon said “I used to be in crypto, but now I got interested in AI"  (https://twitter.com/elonmusk/status/1631720134636367872)
This statement alone did some damage to the market. On march 4th the price went down. You can see that in here :

https://i.postimg.cc/qRyhnm11/screenshot-174.png

As shown in the picture, you can see it did suffer some drop, but it got up eventually. There are some people who still follow Elon Musk, and they think that he still got some influence on the crypto market. But in reality, they are just temporary. The price went higher than before, as you can see.
So you should never follow any influencer in order to stay strong in the market. Do your own research and if you think you are good enough, then stick to it no matter what.
We know what Bitcoin is and what it holds for us in the future. These kinds of news and FUDS are not going to harm it in any way. Stick to your plan and have faith in what you believe.

He is one of the influencers who have quite a lot of followers and they will definitely be heard of but I think he will not be as strong even though there is an impact but this will not change much in terms of the market especially bitcoin.
He is one of those people who are pretty much followed but also not the least bit hated. I still think Elon's words are utter nonsense because his words will not be consistent and he may say bitcoin is an asset that he will adopt "again".

It's important to note that you shouldn't always expect a surge in price when Elon Musk tweets about a cryptocurrency. While he has undoubtedly had a significant impact on the price of Dogecoin in the past, it seems that his tweets are not always as influential as they once were.

It's possible that many of his followers are already aware of how he has been able to manipulate the market in the past to make a significant profit. Therefore, his tweets may not have the same impact that they used to. There are still many blind followers who are quick to react to his tweets, regardless of their actual impact on the market.

It looks like the influence of Elon Musk influence diminish.  People have enough of his manipulation so many tends to ignore his announcement and statement just like the late McAfee influence.  There is this rule called the law of diminishing returns.  So every time an influencer practice and use his influence the impact to people will become less and less especially when it is used to manipulate prices that make lots of people lose money.

Aside from that I think his influence is greatly focused on Dogecoin and not on Bitcoin so people within the Bitcoin community don't  care at all.


We used to have a strong impact on the crypto community but I think he doesn't have that much impact now.

Not a booster since he could also be a crasher because on whatever sentiment or tweet that he do make, it do really make out some significant effect or movement in the market.Lots of people been telling that we shouldnt really be going along in regarding on what he says but still it do really make out some movement and hype whenever he do make out some tweet which is connected into a particular project.
If you are in doubt then try to look and check out whenever he do make out some tweet on a particular project, you would definitely see on how it do really behaves when it comes into its price which is something not
really that shocking to see anymore and people are really that trying to engage on project or hints that he would be giving out.

He isn't that effective now obviously. Most of the people who earlier used to respect him now feel him more like a dumb ass who speaks a lot of random things on social media. So obviously his reliability has gone down a lot. Especially the meme coins saga has hit his credibility as well. But obviously he is world's richest billionaire so obviously anything he say isn't going to go unnoticed, so it will effect the market but only not that largely like it used to do at some time.

I think that he's attached to it as a pumper in the market and that's why everybody likes him whenever Doge or meme coins get a buff from him and every time he includes it on his Tweet. But then, if the market is bearish there's a little boost he can give to it but that's not guaranteed. Anyway, we see that only has little impact he's contributing to the market now because the market is working on its own and we're getting closer to the time that bitcoin will halve. So it means that he may take advantage of that event again and will make it look like it's his doings whenever bitcoin's price increase somewhere in the future.

I think he exposed himself already in the BTC market as just riding the popularity of it. When he initially announced that his company Tesla is going to buy bitcoin as a reserved, obviously it was a big news to us, as the price goes up instantly. However, in 2022, in their Q2 earnings report, it was revealed that he sold 75% of their holding. And he said that they loss their investments (because of the bear market) and that Bitcoin has a negative impact on them.

And with that, we understand that it's more of a business moved for him to sell and most likely that he is just riding the bandwagon early.

So Bitcoin investors knows what's up with Elon and so we lost "trust" on this guy. Now he is not that influential to us and everything he says with Bitcoin on it is not going to affect us. He also attack Bitcoin mining and said that it is harmful to the environment which we know is very wrong in the beginning.

Elon musk was never a booster for Bitcoin. What Elon musk did was to use the popularity of Bitcoin to appear cool and futuristic for his investors. He never actually cared about Bitcoin and from how he talks you can see that he has no deep technical knowledge about Bitcoin. I hope he stays away in the future from Bitcoin since he attracts the wrong people.

I don’t think Elon FUD can harm bitcoin any more (well not harm, but affect price short term). I think the market has matured even since he was spewing rubbish about mining energy use.

I do however think that if Tesla started accepting bitcoin again for payment the price would have a short term pump.

Elon can probably still pump shitcoins with silly immature tweets. Low liquidity coins are a lot easier to pump, I do think he enjoys doing that.

It can't deny that he was a market influencer due to the number of his social media followers but it wasn't really enough to control the market. He could somehow encourage people to invest in crypto and all of his tweets also affect how these followers take on it. However, investors are not just following without searching as I believe they had also changed. He talks about AI and people think about it for hype and even though there is no Elon Musk saying about it, this probably happens.

While it is difficult to predict how the market will react, coin pump is not always a factor of influencers. It is possible that Elon Musk's influence could also spread to others because human psychology follows similar patterns. The cost of pumping a coin is very high, and people with that much wealth can do it with ease

To begin with, naive cryptocurrency investors always see Elon Musk and other influencers are market boosters whereas they are playing a mind game with your investment that's why they flock to their recommendations or see their tweets as investment advice. However, they later make a loss and blame cryptocurrency instead of blaming it on their naivety.
The real market booster is you, me, and others that choose to accumulate more Bitcoin because of the banking crisis and the opportunity that comes with the upcoming halving market.