Bitcoin Forum

I discovered that there are people whose comment or tweet could increase or decrease the price of Stock; one of them is Elon Musk.
In two occasions, his tweets affected the price of some assets and entities.

1.   During the early days of bitcoin bullrun, Elon Musk tweet about bitcoin, and the CEO of Micro Strategy responded. This contributed to the further rise of bitcoin. This also happened to Dodge coin.
2.   During the WatsApp data piracy issue. Elon Said “use signal” . What happened was that the userbase of Signal increased exponentially.
The question I want to ask and I would like us to discuss is this:
Does popularity or fame has a positive correlation with wealth creation?

Here are some of his tweets.

 https://twitter.com/elonmusk/status/1347165127036977153?s=20

https://twitter.com/elonmusk/status/1340573003579617280?s=20
What so you think?

Not only wealth creation, but also wealth destruction,  ;D once he tweeted Tesla stocks were way too high in price and that led to plummet in prices of the stock :D well, popularity and fame can definitely influence people, that's why people love to have fame, because they have then this power over other people's mind and can manipulate it for good or bad :)

Wow, it can be likened to money whose purpose is amoral, it could either be good or bad, it could only be determined by the holders.
what do you think would happen if he harness and explore the power towards a positive usage? I feel, that he could possible amass an unimaginable wealth in a short time.

Yes, it does have an influence on the price.... because people follow the celebrities comments like sheep!

How many people will buy the same clothing, even if it is very over priced.. when they see their favorite celebrity or Sport star wearing that clothing?

The same thing happens when they say something on Social media and the impact depends on how many followers they have. Elon Musk was a pioneer in the "Payment system" scene ..back in the day before PayPal, so he should know what he is talking about. (Anyone else without the previous experience of payment systems, should not have such a big influence... but unfortunately they do)  ::)

To me, such behavior is personally very strange because I don’t care what EM thinks about anything, regardless of being at least publicly the richest person in the world. Those people who follow him aren’t just sheep, they’re very naive sheep who don’t realize that EM is actually making fun of them all the time. If anyone thinks this is not the case let them visit his Twitter profile, and they will see how EM communicates with his followers. Some are obviously amused by this, but EM is just another multi-billionaire who wants to become immortal by doing something that no one else has done before. Who knows, maybe he'll be one of the first to go to Mars🚀

NSFW: https://i.imgur.com/iw0bldz.jpg (https://i.imgur.com/iw0bldz.jpg)

[mod note: removed embedded NSFW image]

If it is possible to hypothesize for a moment to answer your formula, then yes, there is a link between popularity and wealth creation. This is because so far we have seen that it is not only influential in cyberspace, but every company under its auspices will obey and obey every policy issued by Elon. In simple terms he was able to move the market with just one word through his last tweet. how not, in my opinion, he is someone who is more famous than even the top artists.

Simply Elon knows the future of BTC and his people tends to believe on what he was saying because he already prove a lot by building his Tesla and SpaceX company which is very futuristic. He is also the current richest person in the world so his words is very powerful even though sometimes he is just trolling.

Being the latest person to reach the top one richest person globally, then become second, then become first again, it's the "consequence" or "blessing" depending on how you look at it. Whatever he touches now and whatever he creates has his influence, whether he believes in. It's the opportunity to bring his beliefs into the world just by typing 140 characters or something. I remember the Doge tweet and there is some speculation around it and I think it has reached highs.

He has his influence now in the world, and being able to target a goal to bring people to outer space is fantastic. With that himself, he is making a mark towards the world and making his positive thinking the correlation you are talking about.

I really admire his trait of being hardworking, ambitious man. He is very open in each possibility and new way that's why he is the first tycoon that I admire and the first one who made a giant influence among other. In just a tweet he made a coin pump so very much even that tweet is just a joke it made the market and people went crazy. I really like him because of he is into technology very well, he starts from nothing and now he got everything.

For me, yes it has.

I remember this tweet of Elon Musk about Ethereum two years ago and the Ethereum suddenly climbed up fast in the market.
https://twitter.com/elonmusk/status/1123033196642201600

And then the Twitter massive scam using the account of Elon Musk, there are too many victims of that tweet so if you think he isn't an influencer person people will not invest and no one will become a victim of what the scammer Twitted using his account.

It's natural that big names become influencers, even big celebrities also do the same as Elon Musk.

we forgot something, Before achieving it all Elon is a person who has high spirits and can achieve what he wanted until now. the difference with us is that we only see it with fame and influence. but we never follow the journey he has taken (eg we struggle in our own way, with passion and achieve success), we tend to want everything instantaneously.
So there is nothing wrong if Musk's influence is able to move his followers, be it Bitcoin, DogeCoin, SpaceX or Tesla.

So the question is, what have we contributed to the crypto world so far? is it just trading it? maybe your neighbors and relatives need to be informed about cryptocurrency. so we have our own influence and create as much popularity as possible. with the abilities we have.

It's pretty obvious that a famous personality like Elon Musk can have the power to pump or dump a certain coin (remember Mcafee?) but in my opinion, it's really for the newbies since most pumps (especially when it is artificial) will be followed by an inevitable dump. At least Bitcoin already is famous which is why tweets from Elon Must won't really have any significant changes because the marketcap is too high to pump from just a tweet.

It can. A lot.
It's different now. Social media is a basic tool to get information faster instead of newspapers.
With his high influence with large investors, he could easily manipulate the market.
Even small investors that are following him may ride the wave.
It's so powerful you cannot even understand how it is happening. It's like a domino effect.

Of course, the rich and the famous have undoubted power to actually make a move on the price, not only does Elon makes 'Elon' things, he's also a powerhouse in the crypto industry, you can definitely say that with the power of fame, comes the power of people idolizing you and following whatever you'll say, because of how famous and powerful he is, besides from being smart and everything, his influence itself can actually do a lot and manipulate the market, Elon is not only Elon, he has connections from other powerful people.

Of course it does.

People listens more to the people who are successful in life and has a wealthy living. But you can't dictate what Elon Musk can tweet. I've also remembered the pump and dump tweets of McAfee before but it was stopped then when he was noticed by the community and being chased.

And for Elon Musk's tweet, he's preferring to tweet Doge much.  :P

We can conclude the reaction from the public on influential person would reflect on the market at an instant, not much we can learn from that, it’s just how market has get into very paranoia, extremely bipolar, very quick to get panic and recovered from it, just as if we couldn’t believe bitcoin could possibly get ATH over 40k, and the next minutes our denial mindset turn into believe, denial —->believe —-> accept —-> denial again.

Elon Musk does have the power to change the world with his simple tweets (like Donald Trump before his account is suspended). Remember when he said Tesla's stock was too high? A big sell-off occurred immediately. I cant believe that he likes to do crazy things like that. No one has a ball to blow off their assets like him

And Elon Musk does have influences on bitcoin and cryptocurrency. However, I think right now he only focuses on his several projects which can change the world in a different way. His electric car and space adventures are fascinating enough for investors to put their faith in this real-life Iron man

There are a lot of things that we can learn from him:
1. Always follow your dreams and never let anyone to break you from following your dreams. You can turn a dream into reality if you are driven by passion and willpower. I don't actually get inspiration from this man but he really amazes me and I appreciate what he achieved, no one knew who was Elon Musk years ago, he wasn't even able to get a job in Netscape and now, the whole world talks about this man.

We should also learn from him that if we are different from other people and are driven by different passion, it doesn't mean that we are bad (When society is ugly, being beautiful is unacceptable).

There's no evidence that Elon's tweets affected the price of bitcoin. He tweeted about Bitcoin during a bull run and the price was already rising. Any extra effect is likely to be for a limited duration because someone famous saying something about a company doesn't change the fundamentals of the company.

Elon has an overarching feud with Zuckerberg, that's why he's blasting WhatsApp.  Since Signal isn't a publicly traded company, there's also no correlation with a stock price move there.  However, could someone famous touting a service lead to increased usage of that service?  Yeah of course, that's literally what advertising is built off.

People are admiring him because of what he achieved in life.
Remember the story that he once offered his Tesla to Apple?

https://www.cnet.com/roadshow/news/elon-musk-once-offered-to-sell-tesla-to-apple-but-couldnt-get-a-meeting/

Good that he didn't get that meeting. Look at him now.
So for me, he has positive influence to people. So his tweets or statements have certain impact to the market.
After all, he achieved his status right now because of his hard work.

About Signal in general, there was a funny story when, as a result of Musk's tweet, investors began to buy shares of Signal Advance and the share price increased 12 times. However, it turned out later, according to the developers, that indeed Signal is not placed on the exchange and Signal Advance has nothing to do with the messenger at all. Therefore, it is still possible to talk about the correlation with the movement with the stock price, but by mistake ;)

With the numbers of his followers, there's really a big impact once he shared about crypto project. It's been ride by those investors who don't want to missed the train, there are many events that after he shares information about the coin fomo's showed up and buy the assets, bringing good market movement and positive  benefits to those who catch the early ticket. 

I think we can all learn a lot from Elon Musk, he is a great engineer and business man. He was among the first ones to make internet payment accesible for everybody. Paypal was such a huge company and made Elon Musk rich. Without that money he probably would have never started with Tesla and SpaceX. He needed a lot of capital to invest into both firms before he became the richest person in the world.

I think Elon Musk is a perfect example of what all of us are capable of achieving if we only managed our time better.

As a kid he watched tutorials on the internet and made a video game. Sold it. Watched more tutorials. Made an internet travel website. Sold it. Started another business. Eventually he was involved with paypal. Sold his stake in paypal. Used the capital to fund tesla and space x.

Remember $500 flamethrowers Elon Musk sold to raise money. He got that idea from spaceballs the movie. The scene where Yogurt is discussing merchandising at the end.

https://www.youtube.com/watch?v=vjB8XXw9y70

0:37  (Where Elon Musk got the idea for his flamethrowers  :D)

The internet offers many opportunities and learning experiences.

Elon Musk is the 1 guy in 5 billion who actually uses them.

While most of us trend towards taking them for granted.

I feel his powerful influence is also based on the recent stock performance of Tesla that had ranked him to become the world richest. So, I can say he weild more power, possibly more than the Wales can do.

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Yes, Elon Musk could be using his social media handle or Twitter handle to make jokes. Because, I know him to be a first Principle Thinker, which made him to be able to build SpaceX rockets.

Deductively, Elon is smarter than the content of most of his tweets

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There is an insight to be drawn from your comment. You mean the root cause of his power is because he is an authority, who has succeeded in may fronts.

That could be one of the reason, people respect authority.

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Overtime Elon Musk is one of the few people that reason using the First Principle Approach.

When he want to start space exploration, he discovered that the cost of rocket was huge.

He left Moscow and decided to build his rocket to be very affordable and at a price with a reduction by factor 10. He was able to achieve that because he ask some basic about rocket manufacturing, then he made an innovation from the answer.

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The answer is obvious mate. This is not a million-dollar question. When visibility increase demand follows it. But this effect, in the end, will be a short term effect. Be careful.

I wouldn't necessarily say that it is short term, it is more of a "at the mercy of the Hypeman" in this case it is Elon, if he were to change his standpoint then definitely others will follow what he says cause we all know, sycophants love what their idol says. This type of thing has been observed a long time ago, there was a concept created that was conducted where judges are rewarded for selecting the most popular instead of their personal choice, this is called a Keynesian Beauty Contest, which theorizes that the price fluctuations are based on popularity and not your personal choice which means that if Elon who is followed by millions of people say that something is good or bad then that can spell a disaster or a prosperity for the companies, services, products and things that he will mention.

That’s the play here. Big fat wallet makes the movement of most of the market.  This is true for crypto currency’s as well as Fiat market too. This is where the concept of whales started. But in case of famous personalities and their talks market is deeply influenced due to one major fact, people follow them and deep down everyone knows if they are speaking something then they are surely going to act on it in the future. This has become rich cycle of current market. It’s always helpful for common pips since they know when to enter into market and when you need to stop.

Fame always goes hand to hand with money.Just look at all the Hollywood movie stars or Instagram influencers.The more famous your are,the more advertisers will want to pay you for sponsorships and hire you for high paying jobs.If you are famous,you obviously have fans,and your fans have money to spend.
Fame is an asset,a very scarce asset in high demand actually.
Elon Musk has fame and money and he is also a role model.Of course that he will influence many people to do certain things.
News,opinions of famous people and gossips have short term impact over the financial markets.This isn't something new. 

Millennials nowadays wanted to become a streamer, vlogger, social media influencer, or want to be on television because they wanted to become famous, get paid for sponsorships, and make their merchandise. Popularity and influence are also one of the reasons why Elon Musk Surpassed Jeff Bezos for being the richest man in the world other than working hard in his company.

Nowadays, it is what all the so called "influencers" do: influence other people.

In the case of Elon, the differential question is the degree of influence. When a moonboy shills his bags on twitter, when is it considered legit and when could it lead to manipulation? let's not focus on shitcoins, we are all Bitcoin moonboys...

So, again, Elon's case has more to do with his ability to lead other people. It is a political/philosophical question whether it should be controlled somehow or let the freedom of expression flow freely.

Of course, but the most important thing is how do you become popular in that regard? Elon Musk is well known as a billionaire in the field of technology and also a business magnet. Elon is able to influence people's minds because Elon has relevance to what he says, and people also think that Elon must know very well what he is saying, not only as an endorsed random influencer.

We all know that social media and many platforms can really manipulate the people's perspective and mindset.

If there's a big personality who promotes bitcoin, then its fans or community will also have interest or curiosity towards that cryptocurrency. Elon Musk is really open for cryptocurrency and he is open-minded and confident that it will help him become the no.1 richest person in the world. Many people will believe in him because he is already a successful person and many people there are thirsty to become rich too.

You know why? Because he know how to adapt, how to invest, and to manipulate something that is full of potential and one of it is Bitcoin.

Must read books for 10 hours a day when he was a child, it is helpful for him to develop his work

The influence of Elon Musk affected the surge of users within the Cryptocurrency Industry but it really did not clearly state that he was one source of the price increase. Elon Musk can say whatever he wants because he somehow earned that influential title. His Father has taught him well because they own a Mining company which really is something that would get a lot of lessons from. Patience into that unending process of looking for valuables behind rocks is one of the best thing Elon Musk must have remembered throughout his whole business creations.

He has build an empire and taken Tesla to new levels with his intellectual skills and moreover he has influential behaviour which implies that whatever action he takes the other people thinks that is correct.This year his wealth has grown substantially with more than $100 billion alone in nine months which is quite large.This happened to due to Tesla share prices recahing S&P 500 index and trading above $850.So the point is there is hype about Musk everywhere which is why he can move the market accordingly and invest in those ventures himself and people follow him.No doubt people follow their role models and act in the same manner they told them to do but Musk is overrated at this by the general public globally which in turn can lead to Tesla bubble burst anytime soon.He is socially active and part of cryptomarket and his tweets turned the prices of dodgecoin and he who knows he might be having a portfolio of Bitcoin investment lying in his hardware wallets safe with him and he will show his cards when prices rise too high because he is foresighted person and knows the true value of Bitcoin.

Yes, it does. Can you imagine you have millions or followers and you tweets about a product in a positive ways, some of these followers of yours will go out and buy the products and they will likely recommend them to other people, this is why they called these people influencers because they have significant influence on their followers, so if I want to promote my new product instead of paying for adverts, I can pay influencers to help me write positive feedback and tweet about the product and that could make a significant difference in the life of that product.

A big yes. Popularity, fame, and even wealth can make a great influence to the people. The most common scenario for these is the T.V ads which products has been advertised by the popular celebrities, because the company knew people loves following successful businessmen, actors/actresses, and entrepreneurs. Elon Musk are no different from them, he could literally pump Bitcoin if he wants to and lure people to buy Bitcoin.
It is not the person who is the most powerful, but its the wealth. The rich becomes richer, because their influence will make people believe they'll become as wealthy as the people like Elon Musk if they keep following him.

Every dreamer or opportunist in the world will always want to learn from anyone individual that's rated as the richest man alive and I could I was once in that path before when Bill Gate was rated as the richest man in the world I wanted to be like him, get involved in things that make him rich. I guess explained the reason why Elon Musk tweet influence alt of people but most of his tweet about crypto investment shouldnt be digest without self research.

His a wise man with a great vision and he works for the world, that influence is a big thing in the market and if he endorse anything, I’m sure people will try it. Just look at how his Tesla company works right now, its very innovative and if the time comes that he totally support Bitcoin, I can’t imagine what kind of hype will happen in the market, Elon Musk is a big guy now but still appreciate good technologies.

Elon is seen as the new Jesus of our era. People like him because he's the science guy that is also cool with the current generation's humor. They liked him most when he hosted Meme Review, a show by a famous YouTuber by the name of Pewdiepie. That's why they gravitate towarda all that he would say. On the other hand, his words carry weight too, listen to his interviews, even the once who were turned into memes and you will see how inaightful the guy is.

diligent

People are already worth more than 100 million yuan, and they can still keep working so fully. What kind of spirit is this? Don't say over 100 million people, how many people can have half as hard as he is?

He's presence to any investment influenced the people behind. Supports flows out each time he say something about anything, an action coming from people who believes in him.

We can't deny the fact that he's very sucessful and most people who follows him are aiming to get something from him. They are blindly idolize his words, as even in a small way he's been praise and followed. Though his works are the evidence of his success and that's the big thing that people supports him.

In short, his popularity got uses and worthy. Popularity with good reputation. Unlike other who are just popular but no use at all or reputation is not good.
That's why a lot of people are fan of Elon Musk. This guy is intelligent and have brilliant mind. I will not surprise if in the future that one of his companies will announce that they included Bitcoin on their balance sheets 8).

that's true. If an eminent says he thinks Sushiswap promising. Then throngs of people might buy sushi, then sushi rises. stock follows the same rules

Yesterday was another interesting day as EM proves this hypothesis again. he bought a gift from Etsy for his dog, and he then twitted "i gonna love Etsy" within two minutes the stock price of etsy skyrockected that the market capitalization rose by Billion of dollars. There is real power in the words and opinions of Elon Musk.

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I beg to disagree with your statement that E M is just an ordinary billionaire, no Elon is an extraordinary entrepreneur and billionaire who is doing what his equals can not do or will never think is possible to achieve.

When we analyse him with objectivity and without bais, we shall come to a conclusion that he  is really extraordinary. To add to t, how many billionaire have such degree of influence that Musk has? How many billionaire have such degree of ambition that Elon has?

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What we should learn from him is something that the thinkers have been telling us a long time ago, that someone with enough followers can influence the chances of an event from happening. Elon's influence is not that different from any other celebrities, they are all on some degree an influences people, the only question is how big is the scale.

I believe that is correct for some certain things but shouldn't be financially unless you are known as a business person in the finance world. Like yeah Warren Buffet declares he invested heavily into one company and everyone suddenly starts to buy that company, go check out every single EVERY single time he declared how he invested into some company and you will see that exact same day and next day that stock gone up.

However that makes sense, he is a person in the investment world and the best of it really, so it is not a shock. Still, what I will never understand is the fact that some Hollywood stars, some guy that builds cars and spaceships, any unrelated famous celebrity having that much power over others finances. Sure be famous and get paid for it, but being famous and telling others what to invest is a bit weird, that shouldn't really happen.

I followed his account in social media, and this person left me an awe because he really influence people. When he post something about crypto the price rise rapidly. So I can say Elon Musk has a big impact on crypto industry.

I don't want to go off-topic, but previously scammers had used Elon Musk's Twitter account to promote scams. Check this:

https://www.theverge.com/22163643/twitter-hack-bitcoin-scam-july-2020-elon-musk

The hackers tried to push a crypto-based Ponzi scheme and a lot of unsuspecting users lost their money after clicking the link. Even before that, there were several attempts to use Elon's Twitter account for scams and I had posted a thread detailing it here:

https://bitcointalk.org/index.php?topic=5234450.0

bryant.coleman, scammers use all celebrities to deceive as many people as possible, but EM is especially interesting to them because it often has very strange tweets - and they use this fact on all social networks. I’ve written this before, but the fact is that at the moment, ordinary crypto users lose a lot more through all the scam associated with his name than the crypto community benefits from his tweets.

Therefore, the answer to the question in the title should be - we should learn not to be slaves to the opinions of people like EM and those like him, because they are fighting for the interests of themselves and those at the top of the pyramid. While 13% of people live without electricity in the 21st century, and more than 40% do not have access to the Internet, EM wants to go to Mars to dig through the dust and look for the meaning of life...

not all that this guy posted is real and we must confirm it first outside before believing or clicking ln his links because that could be a threat to us but elon musk ( the real guy ) is verry influencial and lots of citzens idolize him for what he have acomplished in his life and if what he contributed to the world to make it a better place .
he can make the price go up or go down and we can follow his accounts to stay updated if what move are he planning next .

I think you mix up the cause and the effect. Musk didn't cause a Bitcoin bull run, he tweeted about Bitcoin because there was already a bull run. Just like now he is tweeting about GME which already goes to the moon. His tweets could have in short term pumped DOGE, because it's such a small coin, but he has not enough influence to move Bitcoin.

And of course his tweets could move Tesla, because it's his company after all, but this doesn't mean that he can move any market.

Popularity and fame alone have only potential to create hypes, which has nothing to do with wealth creation in a solid and sustainable way. But in Elon Musk's case it's not only about popularity and fame, but also technology, knowledge and a potential investor and developer who could make the difference in the market.
So in this case I think he could boost crypto market gains and growment if he has projects to develop on this field, althought two tweets are very far from this... Maybe in some years we could see plans of using bitcoin as a galactical currency to transact between Earth and Mars.

I cant deny hes successful and people follow to learn through him maybe they can get some knowledge which will multiple their fund but hes abusing the respect people hac for him and if care is not taking he will end just like McAfee which loose the confidence people had for him when he started giving false information to the people.
@goaldigger, hes not wise but an opportunist.

Elon Musk action through meme shouldn't surprise us cause he has once claim to be dogecoin logically he holds a huge part of the dogecoin and if he doesn't a negative message about Bitcoin a lot of cryptocurrency investors won't dare to invest in Dogecoin.
Having said that, Elon shouldn't be considered as principle thinker just Satoshi was said not to be that brilliant cause he files together every what some people thought

It would be best if you learn how to monetize his tweets :)

I remember recently when he recommended switching to Signal how the stocks of 'the wrong' Signal jumped 400+%: https://www.cnbc.com/2021/01/11/signal-advance-jumps-another-438percent-after-elon-musk-fueled-buying-frenzy.html

We have a new example of Musk Effect here https://twitter.com/elonmusk/status/1354174279894642703?s=20

This time it is against Hedge Funds and I like it :)

Elon Musk Influence is so scary.. I remember when he Tweet about "Doge" and the price of DogeCoin up nearly 20%.

Most of us knows about this shit coin and One tweet from Elon Musk instantly changed everything. For me Doge is shit coin because of the Supply is infinite and based on Shiba Inu dog meme.

Oh yes! Famous public people and especially Elon Mask definitely have great influence on crypto. Even after Elons’ small tweet "One Word: Doge." Dogecoins price increased on 20%, however than doges again dumped in several days. Was that phrase ("One Word: Doge.") also “signal” or no? Maybe some traders know how to decode that “signals” correctly?…

Absolutely the answer is yes, especially celebrate like Musk. Many people will blindly trust him and believe that what he said is right, and the most important thing is that his wealth is enough to make his speech into reality.

I have a different view about this, which is Elon's Effect could move any financial assets in either an increasing or decreasing manner. I believe aside from institutional investors that would take btc to the next ATH, the next person who can single-handedly take btc to the next ATH is Elon Musk.

Watch and see, his influence is more than 1 billion powerful people.

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You see proper marketing can transform a less quality product into a quality product or a shift coin into a real crypto. All that needs to be done is a good publicity, because at the end of the day the value of a product is determined by the users.

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Well, this became very interesting that we need to learn what's happening in the market in a reflective way.

When the unconventional trends starts taking place, investors should be quick to BUY and quick to sell, that's the only way to maximize profit.

I feel this would become a principle.

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He is a meme guy that can generate memes that can influence any market. We are living in wonderful time

Yes, there is no proof that his tweets have surged the prices of the stocks upwards but we all know that it is true because the prices went up right after his tweets.

One thing I have learned from Elon Musk is that no matter how you treat your employees and what you do in your personal life but once you achieve success that becomes the biggest tool for fame. There are countless articles about how rough he treats the employees and juice out maximum potential from his employees but because he is successful no one really cares about his attitude and behavior towards his employees. I am not saying he is rude or wrong just learnt that success can overshadow almost any mistakes in past.

You have 2 options, either ride on it or just ignore it.

I remember the time where McAfee aka Dick Boy literally doing the same as Musk right now, saying some stocks or cryptos in twitter. There is a bit of a difference but the point is the coins/stocks that they are saying will go up in price in just a matter of time. How influential they are :D

it's not signal or something complicated like that, he's just like doge as a meme.
It's like the case of watching movie, people always overthink about a scene then making conspiracy theory out of it meanwhile the movie creator don't even have idea what people talking about their movie. same with celebrities like elon musk which every words get taken seriously although most of the time he's trolling.
It's just happen that many people assume it's some kind of signal and start buying. more like self fulfilling prophecy  ;D.

One thing we can learn from Elon Musk influence on crytpto currency is that it cannot last forever. Why do i say this ? Once upon a time there was John McCafee who was throwing similar stunts albeit a different way, causing fomo and fuds in the heart of newbies nd the market in generally. I say enjoy this stunts while it last. But keep your investment safe.

Elon Musk is too OP (over power) in the tech industry. Plus, he is the richest man alive in this world.
But, I won't say that he influence the price.

I read an article about the correlation of Twitter influencers and crypto price on Beincrypto,
According to the data and analysis, they can say that influencers follow the prices, not create them.
You should read the explanation here: https://beincrypto.com/what-impact-do-twitter-influencers-have-on-crypto-prices/

Right and one reason why everyone loves and respects him so much is because he would not take money and promote a product instead he would tweet or promote something when he really feels he should do. His reaction on becoming the richest person was like yeah fine let's get back to work which shows you the mindset he has towards his work and his passion to achieve even more.

If I was the richest person I would be on holidays and spending money but the guy has different ideas and his passion towards work is everything to admire. That is the reason we are here and he is the richest because he chased his dreams rather than money or fame.

Nobody scared about this at all? I mean we are talking about one person having a big power over finances of so many people, isn't that a bit scary to anyone? This is not technically centralization considering Elon could be ignored if you want to, it is a personal preference that people would care, but there are so many people who care what he says and jumps in.

I know it is acted as a "joke" but doge was up 600% at one point which means there will be some people who will lose money from it, this is the classical pump and dump looking situation right now and when it starts to dump there will be people who will not be capable of selling at the right time. This is why I find it very scary, sure we are having fun right now and yes the price is high but at the end of the day there is no reason for it to be high and it may drop to lower levels very quickly.

You can't learn THIS from my respected Elon Musk :)
He is a classic example of the modern world's Opinion leader. His word and post can both bring down the market and create a pump! Looks cool, right? One person, a few words - and the whole world shook! :) But one must understand that this is all - a collective and accumulative position - you cannot immediately take and become Elon Musk! With all due respect to him personally, I understand very well that this image has been formed for many years, before our eyes. But you have to understand Elon Musk himself - this is the tip of the iceberg. One should not underestimate his charisma and will to win, technological flair and rich imagination, but the "final image" is the work of many people about whom we do not know and do not guess ... And not only people - it is possible that entire companies. But in any case, we must admit that the result of this work exceeded all expectations - a man is a legend, a man is a symbol of the new millennium!

And most importantly - PEOPLE adore such leaders, and will blindly follow him without even thinking much - and this is already from the field of mass management and human psychology

I truly appreciate his characteristic of being dedicated, driven man. He is exceptionally open in each plausibility and better approach that's why he is the primary head honcho that I respect and the primary one who made a monster impact among other. In fair a tweet he made a coin pump so exceptionally much indeed that tweet is fair a joke it made the showcase and individuals went insane. I truly admire him since of he is into innovation exceptionally well, he begins from nothing and he change the world and can own what he want.

He is an open-minded person. He knows that everything has a chance to grow in any market. Unlike, Buffett, he closed himself to crypto as he doesn't believe in it. This is why Elon is liked by many people. He is open to new advancements around him and doesn't treat a new technology as nothing. He already earned great respect from the community so whatever he tweeted or say to the media, people are buying it. After all, he will not reach his status today if he has no good disposition in life.

Yes his perseverance makes him to the top list of richest and well known in the market ahead to Bill Gates and Zuckerberg, it all makes sense now what he work hard for the past years. He is very influential, his broad mind makes him different and unique, that's what I learn from him, we should take all the opportunities especially when it will help us to the future. Do not afraid to take risk, do not take shortcut, if it is for us, it will be given to us, we have a plenty of time now make it valuable.

Of course popularity or fame can have a huge effect on anything. Including the bullish price of Bitcoin and Dogecoin, because the influence of
Elon Musk did prove effective. Therefore the lessons that we can take from this incident, always be on the lookout for famous people doing
something. Especially if that person mentions Bitcoin, we will see if he says positive things we can rest easy for the Bitcoin HODL we have.
But if the person says negative, don't forget to put a stop-loss. In case the market suddenly dumps. In conclusion, don't underestimate what
a popular person like Elon Musk has to say.

Elon Musk honestly different than how John McAfee approach crypto like by a lot. Elon musk doesn't advertise any projects just because money, he's making tweet or tag by his own will and not money driven whereas John McAfee usually speaking about the projects that paid him some share. The factor that contributes to mcAfee fall is how he recklessly sponsoring every projects that want him in like very frequently, once most of them tanks he's the one gonna lose the reputation.

You bet that’s why a lot of people wants to be famous, because when you’re famous you have a lot of people that follows you and most of them are always ready to do as you say, whatever you say as a famous person will usually trend and if you tell your fans to do something they will listen to you and do just that.

Although another thing you have to know is that it’s not all about being famous, you also need to have a good name, because that’s what’s going to make a lot of people to like and do whatever you say, than when everything about you is negative.

It's not surprising that comments or speech of famous people affects a lot of things even wealth creation. The influence of famous cannot be underestimated. You should however know that this can happen in both ways. It can have positive and negative effects depending on who is talking or what is being said.
I think the only thing to learn is to pay more attention to comments and words of influential people like Elon Musk who can affect wealth creation and destruction.

You just look on doges now. They bullish “to the moon” like crazy, again and again getting new ATH. Moreover recently Elon Mask added #Bitcoin to his Twitter bio and after this price suddenly surged to 38K. Think, this is coincidence? I have an afterthought that he earns money in such way..

He is behind Dogecoin now and he is not stopping whatsoever. I don't understand if he has some big chunks of DOGECOIN or what that he is promoting it so badly. Have a look at the way he is promoting it: https://twitter.com/elonmusk/status/1357241340313141249 It's absolutely hilarious to see the world's richest man doing such things. Moreover, he wrote #bitcoin a few days back giving BTC a huge pump while now he has removed that hashtag from his description. This means even that was a pump and dump strategy by him. Question is that should such manipulation by influentials be allowed? On a serious note, it's pretty dangerous for traders. I sometimes doubt if Elon Musk is Satoshi himself.

Today Musk tweeted about Doge again and caused yet another pump as expected, and users on reddit actually started calling him out for market manipulation. He's not profiting from it in any way as far as anyone knows, so it's not illegal, but still he is intentionally shaking the DOGE market "for the lulz".

I think it's actually positive for crypto, because it opens eyes to the fact that most coins can so easily be manipulated and don't have strong fundamentals that would give them more stable value.

Most certainly, influential people have an impact on the stock market and cryptocurrency prices as well. People tend to listen to public figures. That's why it wasn't a good move from Elon Musk to post on his Twitter about 4 covid tests in one day with different results (if you remember that one) - it immediately put doubt in many people's heads. But no matter, there's something more interesting.

Last month I've noticed something rather odd about Bitcoin and Musk. It is well-known that he's a big supporter of Bitcoin, but what can we tell about his actual assets in BTC? I remember that for some time Elon was all over the news in rankings, that he headed the list of richest people on Earth and it was exactly at the time when BTC has increased in price (Jan 7-8) and beaten its all-time record! And then..a couple of days later (Jan 11-12) media tells us that Elon Musk ISN'T the richest man anymore, and that happens concurrently with the drop in BTC price!! Can't be a coincidence, don't you think? What thoughts do you have on this matter?  

IMO, the Elon musk influence in crypto assets will definitely have negative and positive effect on crypto assets based on the following reasons.
1. Cryptocurrency price movement is based on demand and supply, meanwhile Elon effect and influence basically failed such rules of market disorder.
2. His influence might lead to manipulation in the case of bribing and policltical corruption on the market, meanwhile he may bribed to perform some social media action, I mean swiping in the market before bribing.
3. Positive effect of bringing up the price from bottom lines for easy gains for investors.

Every time Elon Musk posts something many followers listen and followed his advice. We can say he has a big impact on the crypto industry. And many followers are also thankful about him because of the benefits they can get when they enter the market. He already earned great admiration from the community that’s why people buying it whatever he post on social media.

Why would someone think of this as a coincidence when we all know that Elon Mush is an influential figure and another thing is that people thought of this as a signal of the reason why people invested after that tweet. I think we will be seeing more of these kinds of tweets that would manipulate or maybe influence the market.

Elon is regularly trolling us. Crypto investors should stop watching him or should criticize his attitude on Twitter. He may be rich and clever man but does not have a better personality than any person here. I started hating him.

Any comparison with John McAfee would be the utmost insult for Elon Musk. The former is a criminal who caused losses of hundreds of millions of USD to cryptocurrency investors, by promoting scams. He used his reputation to promote scam projects and ponzis and as a result caused a lot of heartburn to the users and ultimately tarnished the reputation of the cryptocurrency as a whole. Elon Musk on the other hand had a positive impact on the cryptocurrency market. Why we are even comparing the two? If you want to compare McAfee, then compare him with Bernie Madoff or Bernie Ebbers.

This is something similar to the brands that we are using in our daily life. If a famous celebrity endorses this particular product we are enticed to try that product too. These influencers should not abuse their popularity causing some people to ruin their life. Like Elon's influence, some people panic buy something even if it's too late. Being an influencer has a responsibility because your followers can be easily affected by what you do or say.

Influencers are basically the root of all commercials right now and bad things about spending money on useless things. There was a great quote in the show mad men (show about advertisers) "love is something we created to sell nylons" and basically it is making things quicker because there is more depth but that has been the case for a lot of years and I think it is kind of true.

Do you know how "proposing marriage with a big diamond ring" started? Guy who  created literally worthless diamonds because diamonds are just compressed coal, decided to market his worthless and useless diamonds as something special to give to ladies, when you buy it from them it worths shit ton of money but when you want to sell back it is worthless and you do not get 50% of your money back, probably more. Basically people turning cheap stuff into very "wanted" expensive stuff is what influencers do.

I don't think that an influencer is always responsible for what happens to their followers.  The ones responsible are ourselves.  Why if you feel wronged, you blame other people.  Is not that choice in your hands.  You are the one who decides everything, why should we look for scapegoats for our own behavior.  Even choosing an influencer has an impact on you is you.  Has he ever asked you to always believe his words?  No, no!  Accept the risk of every decision we make.  We have to think about it carefully.

People will find someone to blame when things happen to them but then they will also thank Elon if the price of Doge skyrocket while they hold thousands to millions of the coin. Elon has it all from popularity and wealth, it wouldn't affect him even if doge crashes back to $0.001 this is why doge is a perfect toy for these whales.
He made himself popular in every market from stock market to crypto market, he definitely have a huge follower that he consider to run for president.

Yes, we must have a stand in this matter, because not everything that is said we have to follow continuously just because we like the person. because our foundation with these influencer is not the same. we really have to be smart to be followers. because if not, addiction will not be good for the future.

Talking about the whales' toys, isn't it always like this.  They use the same method to make a big profit.  Buying at the low price and selling at the top uses the same issue.  If we as penny traders could be more careful in responding to existing issues and not too greedy, maybe we could think much more realistically.  I am open to traders who easily believe the words of influencers, because for me the fundamentals are the result of my own experience.  Not another person's statement.

Most people are just following the trend and they couldn't even notice that those influencers are starting to manipulate things because of their followers. We should have our own principles and decision especially when it comes to investing so we wouldn't have regrets in the future and we won't blame the influencers that we're following because of our actions.

I believe that the influence of people like Elon Musk is really great and any word from such people can shine, as we have already seen, on the growth of one or another cryptocurrency. Also, as you noticed, it can have the opposite effect. Now I would say we are witnessing a battle between influential people and communities that compete with each other. For us, this is a signal that we need to be on the alert in order to be able to benefit from this, however, we need to be careful as we already know that these statements can have different results. In any case, if you are careful, you can make money on it. Personally, I hold BTC and ETH, as well as some other cryptocurrencies, and I am confident that it will be possible to make good money by the end of this year.

first time when i see that , i just wOw , the richest person just come to the party, even he created a new party , but , well , as the time goes, he kept doing it, isn't that strange ? i just believe he a smart guy , and i just believe this wasn't a spontaneous act that he just did , firstly probably i just too much thinking about it, but well , i am wrong, TESLA just bought huge amount of bitcoin yesterday.

I would say having your own principle and decision is the best thing to do but not all the time it will be applicable in this kind of market where the price can be manipulated by big investors or influencers. Influencers like Elon can totally sway the minds of people and even create a trend. In a Crypto investment trend is all matters, you oppose the trend then you are likely to lose, follow the trend and there will be gains. That is why you should always follow the trend.

He is just a businessman or an investor after all, so he will follow the trend and invest in a high potential stocks. It is just so happen that he has a great name in the technology world and business world so showing his appearance in any project that he wants makes it more popular and many people follow his steps. It is not strange to me, it is normal to people to follow those influencers, it is up to us if we believe and feel the FOMO or we will make our own trading plan.

What we need to learn from Elon Musk influence was the thinking outside the box because believe it or not he is the one who is having an interest in bitcoin and cryptocurrency, he is seeing another point of view on bitcoin and another thing is that the good opportunities that might give to him by investing in bitcoin and as well as making it as a payment method for them. The attitude and the positive thinking was the great thing that we need to acquire from him.

People who always blame other people are the kind of people who will never succeed and always become followers.  Elon Musk is just a human who only shows what he thinks.  Why is the market responding so busy?  because Ellon is a pioneer who never blames others and becomes a successful and powerful person.  Learn from this trend, learn from Ellon to be powerful and learn not to be a follower.

In past centuries, wealthy people were large landowners and holders of gold.  In later times, the richest people were industrialists. 

Wealth these days is a large number of people who trust the information you generate.  Marketing has become more important than manufacturing.  The world has become less real and more virtual.  A successful blogger makes more money than a talented engineer. 

Yes, a person's popularity and fame allows him to create wealth practically out of thin air.

he is not following trend instead the trend its self is himself. well , after a short interview i've see on youtube, he clearly say , crypto can be the future currency, but doesn't mean u must put it all. so i guess, he just try to create a trend to all people in the world to have a crypto currency in their portfolio , even with a small allocation.

One way or another, Elon Musk has a fairly large authority in society and judging by the active discussion of this issue, many trust everything he says. And it seems to me that everyone expects from this person a real assessment of the prospects for bitcoin, and therefore there is a shok among users who saw not entirely clear tweets of Ilona Mask on the social network.

sometimes behind one's fame there is another person's suffering. as you mentioned this is valid and real if Tesla stocks soar while other stocks have decreased. this is like the marketing pattern carried out by influencers, and elon musk successfully played this strategy by cooperating with bitcoin and coins in crypto. So I think Elon Musk was very successful in playing this promotion and made the crypto price and Elon Musk's name soar at the same time

I believe it has direct correlation to making or breaking wealth with popularity because population behind celebrity makes popularity and where some sort of influence is involved where people blindly follow somebody, this will surely influence values of something they discuss about. So if Elon Musk says something about BTS tomorrow, the price of BTS will even reach $1k if he's got some paranoid followers who just take his discussion as signals and when he knows that he can influence markets, he can even break the big names out there through just spewing out some shit about it.

Elon Musk has many arbitrary thoughts and it is difficult to understand what he is doing. However in the way he has come up with for Doge's worth with a tweet or iconic photo. Everything has begun. Anyway, wealthy and famous people like Elon Musk always make things special for any market. However, crypto is really very sensitive to media and news.
Catch the fomo trend, see the moon soon. Lol

It is a feeling of pride for me when I read a guy who is supporting and even pushing Bitcoins is now the richest guy on earth. There were times when big guys used to call Bitcoin as a bubble. His recent actions are questionable as of why he is support doge coins so much without any logic behind it but I trust him he is doing for good cause.

Yeah, his ability to think into multiple directions because any billionaire or rich guy who not even think or consider understanding what is Bitcoin and how it works but Musk has that attitude to learn and invest into multiple sources. Even being so rich now he is still investing into new coins like doge coins and recently Tesla bought a big chunk of BTC as well.

It is not really just setting a trend but more like doing what people like and being in there. So, this is a circle, he follows a trend so people would like him but people like him because he creates a bigger trend for it. Is there like a word for something like "it was always a thing but when he got in that thing became bigger"?

Because he didn't created the trend let's face it we were 30k+ way before any of this started, we were already huge, we went from 5k last march to 30k+ this year, making 6x or even 7x returns way before Elon musk ever said anything, so basically he didn't created the trend at all. BUT he also did helped as well, it went to nearly 50k after he started talking about bitcoin, which we should probably see as something nice and cool, don't know if there is a word for taking something big and making it even bigger but that is what he did.

Good cause? I believe his only good cause is to manipulate the markets and make money. It's not just him but WSB (WallStreetBets) as well who chimed in the Doge drama and pushed its price to over 10x, what a pump (and dump) scenario as it got back to 66 SATs which liquidated many big players out of the game. This is called - Short squeeze and then get out with profits while you can. They simply did it to show us that they are in it and this is psycho mentality which will definitely ruin the whole markets soon. Believe me, you'll see worst than what you saw in 2018 and we can't see big effects in BTC because it'll take a lot of efforts for them to show such big move and they know they can't do that because they've just now started.

I agree that it goes both ways.

The reason on why the tweet on Dogecoin was very influential is because of the timing. During the pandemic, people are exploring and looking for alternatives to earn income. Elon Musk took the opportunity to tweet about his 'support' in Doge coin, which is a meme coin, and some questioned his intention on this. Others may share the sentiment that he is shilling the whole project while some thinks that he will definitely support it.


The influence on Elon Musk is really that strong. Imagine, a billionaire which once took the spot for the number one richest person in the world shared his knowledge about investing and earning money by purchasing this share of stock. No wonder, people would definitely follow the same as they believe that his decisions are correct.

What we should all learn about this is the fact that people are easily swayed and persuaded when given the opportunity. Elon being a very rich guy and an overall internet personality took this chance and helped bitcoin pump in price, he did the same with DOGE but it obviously was just for laughs since we all know DOGE isn't that profitable. Not the first person to realize its potential but is the most influential guy out there that can help bitcoin grow.

Popularity, wealth, big companies, will always have influences and they are a very good influencer.
many people will listen to them, will be easily influenced by them
Money is like everything, and people believe that if someone like Elon Musk does something, it will be something big, worthy, and also not a game. It will be always a business and Elon Musk.

However, it will also give a negative impact where many newbies are getting here only by reading the tweet without any research. Whereas, it is great enough if DYOR. And following this tweet only likes following hype and FOMO. So, be careful in this situation, you may be at risk also, buying at high and price goes down because the hype ends.

For me there is a lot I can learn from what happened after Elon Musk tweets about Bitcoin and Dogecoin. It turns out that being the richest person
on this planet can have such an impact, because it was proven that after Elon Musk shilled the two coins the price immediately skyrocketed.
And discussed by many online media around the world, what Elon Musk has done is still having an effect until now. I really hope that not only
Elon Musk supports crypto, but other famous people can do the same. As more and more famous people promote crypto, it should accelerate
the massive adoption of crypto.

Obviously the richest person will have the biggest impact on financial aspects because not just he is tweeting about cryptos like dogecoin but also buying himself which means the price is bound to go up. HE even went ahead and said he will pay holders if they are ready to void the big amount of coins they hold.

Never been appreciative of such moves though because the investors will suffer in the long run in these kind of tricky situations. I mean how long can Elon musk alone keep the price big for dogecoins without some development actually happening, maybe a few months but at certain point the market will crash and people will curse him.

Yes. Being noted as the world's richest man makes him one of the most influential person on earth too when it comes to financial aspects. His tweets will make a sudden move due to his influence.

many are saying that elon musk is not serious or in other words a troll guy . other than that i dont know if elon musk have done serious things in the past that we can copy from him in order for our lives to get better .

instead of trusting people that we really dont know why cant we just trust and idolize our own self ? because we fully know our selves and we cant wrong with that but if we arent confident enough thinking that we lack domething , we can still learn and work that out .

The recent surge in BTC price after Elon Musk tweet is a very good example of price manipulation and is the reason why it is still accepted world wide. People follow the influencer blindly and will not question any thing they say a good example of that is Musk's tweet about Doge coin and after that people started investing in Doge coin but he ultimately ended his support by saying that Doge holders have to sell there coins of they want full support. This kind of behavior is very toxic for BTC and crypto market.

Interestingly it is about a "niche" situation because he could talk about how everyone should buy apple mobile phones and it wouldn't really change too much if you ask me. Sure it might had a small spike in sales for few days but that's about it.

You know what is the difference? Well in crypto world it is not something you buy and use and it ends, many products are like that, you get it, you use it for either maybe one day or maybe 10 years but eventually it becomes nothing again, here in crypto you get in and you have it.

It would be like Elon saying we should all go into gold, and buy physical gold as well not just digital numbers, that would have little impact as well because gold market cap is like 10x higher than we are right now, so it wouldn't be that easy to move it. Long story short it is really not that easy to make these kinds of things happen but Elon did it for something "nice" , which is first doge, then got that hype and move it over to bitcoin.

I don't mind Elon promoting Bitcoin because obviously it's in the best interest of crypto if a billionaire that's one of the richest in the world gets behind BTC, but I also see an unhealthy obsession of Elon Musk. The guy is weird as hell, and he's a bit unstable. Him investing in BTC might just be a publicity stunt for TSLA share holders so is there anything to actually learn here?

Its double purpose for him and I'm sure he do it for his own benefit since imagine he can get a free advertisement for his own brand as well he can earn from cryptocurrency by successfully influencing people to buy bitcoins and pump it, and I'm sure right now Elon is not counting his profits from bitcoin and on the other coin he hype recently.

And the only thing we should learn from him is to buy when the news heat up since this is the most ideal thing to follow right now to gain, his tweets is so powerful in terms of influencing people that's why we need to be watchful on it.

A popular person can change bitcoin price or all investment stuff prices movement. Elon Must tweet has been spreading in the market since a few years ago, even I have heard a story that bitcoin will be made as payment system when the human is living in Mars.

Also, by Elon Musk tweet there are some companies who interested to join in the crypto space. They have decided to accept bitcoin as mean of payment system even some of them have spended their capital to invest in bitcoin, that was a good thing right? I think 2020-2021 is a history that bitcoin is more popular and being used by most people.

And.....this is exactly why no crypto enthusiast should look towards any person, a billionaire no less, to be the face of the bitcoin movement:

https://twitter.com/elonmusk/status/1362600676174557186

He basically rips on Bitcoin and only cites unstable fiat as the reason Tesla bought any to begin with, calling BTC "bs". Hearing this is a bit ironic considering Tesla is probably one of the most overinflated stocks out there right now.

Honestly he wasn't really amazing at making business decisions, he was just good on insisting on business decisions that turn out to be great for him, he could have easily failed as well if the world didn't helped him and trends didn't go the way they did.

How? Well, he was already a super rich guy when he was born, and he created a paypal type of business that eventually combined with paypal and got out early, paypal worths a lot more now if they didn't sell, but let's say that he did a good business decision there, then he did solar/space/tesla and those business are all "bad" business if people didn't started to realize we are killing earth right now, all his business is in regard to world being in danger and climate change is helping his business to grow, also let's not forget the tens of billions of dollars he got from government to keep going, if government didn't give him 20+ billion dollars, he would have failed a decade ago.

Personally, what I learned about this is that big personalities can have a big impact to the price changes. Not only that the Bitcoin spiked up its prices, but also the other alts specifically DOGE. With that, Bitcoin may not be controlled and affected by the government but it can be influenced greatly by these people. This is why it is important also to watch out for your trades and positions as we may see the rise of prices now, there is a potential crash also when people starts to pull out money and take profits. This is where we should also learn to apply different studies to determine if a price surge is just a hype or if it will be sustainable. We can not always relay to the hype trades as these trades may also crash in the most unexpected time as well.

Every genius man/woman, want to take advantage from her/his fame and benefit first.
Because they are successful, people think their method or idea would be best.

Elon musk is an example of successful person in the age of technology, so it would be natural that he can effects on new technologies.

What we should learn is that markets are incredibly irrational, and there was no reason for them to jump on the bitcoin bandwagon just because Elon Musk tweeted about it.

The retail adoption that bitcoin is getting right now is mostly from these people who don't necessarily want to adopt BTC over the long run. They are not thinking for themselves, and they are going to be the weak hands that will get flushed out of the market when the imminent corrections come.

As a side note, I also wonder if the SEC is eyeing Musk right now as someone who they can potentially prosecute - it clearly seems as if he is going a bit far with the influence that he has over markets.

He is successful doesn't mean everyone should be like a slave to him with no pay, people are doing it for no reasons which can become advantageous for Elon musk not for the people who are investing on it. Even such kind of celebrity exposure may increase the bitcoin known to more people still it maybe harmful in long term.

The funny thing about the current situation is that, even though he promotes it even more, doge is not going up like it did on the first try. The fact that someone who is famous and was the richest person in the world (now second I think) told people to buy doge is something else, but telling them to keep buying constantly is something else, that first one made a lot of profit but that was it.

Now he can tweet 10 more tweets about it today, and the price will probably not change much, it could go up a bit thanks to it but not huge like the first time it happened. It is not really a healthy thing, who would want something like this, I wouldn't want some rich people to have power over my portfolio, that is the reason why I ran away from fiat, if rich people can do whatever they want here, then what is the point of being in crypto to begin with? Hence I dislike this situation but there is nothing you can do to stop him neither.

I believe that we should always actively monitor the statements of popular and authoritative people like Elon Musk, because each of us can get some benefit, as was the case after the publication of Elon Musk's famous Tweet about Dogecoin cryptocurrency. But Elon Musk is also a man and can be wrong, not taking into account the different moments in the market. Even Tesla this week lost the value of shares in the price of more than 200 units (619.48), like bitcoin, but since investments in Tesla are rather preferable, then again this moment can be used for profitable investments.

People saying that Elon is not serious does not know his story at all. Elon Musk has been always a visionary and he puts his vision into reality with his determination to create things. Elon Musk is confident and people following him are copying that confidence because having that same confidence lets people do something or get something done with it. Elon created PayPal with a vision and before selling it, he already had something in mind that he will now focus on and I guess that is why Elon is a great man, he puts his ideas to reality (its also because he has the capital to launch this ideas by himself, they own a mining company).

Of course, the information that is voiced by people like Elon Musk can have both positive and negative effects. It is difficult to say that this is good, since all this can look like manipulation, and manipulation in itself is very bad. However, as we can see, strange things have been happening in the world lately, primarily in informational terms, and this trend may continue. It is very important for us not to succumb to everything they say, the main thing is to highlight the necessary and correct information for ourselves.

And with some mix of risk taking factor too when you do make out decisions varying or basing into those tweets or words that do came out to their mouths.

The difference when these popular people do make out some sentiment is that people or the community do really took it seriously and apply it into their investment decisions.
When it comes to manipulation side of things then its very plausible thats why we should really watch out.

Secure profits when you do see gains and dont mold up that kind of FOMO where you do wait up for the peak because if market turns to flip out
then you would really be missing out those potential profits that you should have able to gain earlier.

What we should learn is that people like Elon Musk can easily have an influence on the market. So far he has done nothing wrong, but what if one day he says "bitcoin is not what I thought it is" or something cynical about the usage of the bitcoin? He might be able to tank the price. But wait, didn't he tweet few days ago something about bitcoin being almost like fiat bs? Probably he was testing if he could still influence the market. We did see a slight drop after that. But I doubt this happened because of his tweet. This was more like a price correction.

Elon is influential since he is well-known in technology and has a huge amount of capital. Some assume that whenever he makes a tweet, Elon is making a financial advice, or that he is planning to invest on it. That is oneof the power of social media. Not to mention the number of people following his tweet which really has a huge factor when it comes to the market. Just imagine the pump it brought to dogecoin when he tweeted about it.

Well we can't say that about bitcoin though as Elom Musk trying to say is "Crypto Currency is for the people" Even though he said that it almost become fiat however he was the one always in the news investing those profit from tesla into bitcoin this can be a huge impact to those business owner's or companies that doubting about bitcoin every one can be a influence depends on how you can handle people now are optimistic not just by risking their money they want to have a good future someday and i think this is why people have power or contribute into price correction now only those big names.

Recently, Tesla share prices have risen sharply again, in one day Elon Musk became rich by several tens of billions of dollars and once again became the richest man on our planet.
Elon Musk is very purposeful and very successful in choosing promising business areas in his activities, which made him the richest. At the same time, it is also obvious that at the same time he is engaged not only in a useful, but also in his favorite business, which in our time is not so common.

We should learn that we must know where to put ourselves in regarding on tweets of a wealthy man who puts cryptocurrency on trends. On the other hand, it's like elon musk promotes or advertises cryptocurrency which is a good thing on crypto but the down part is that it cost pump and dump on a certain altcoin or even bitcoin. That's why we should always consider risk management regarding on trading. The power of influence affects the market just like how a popular celebrity promotes a certain product.

Lets always remember that we shouldnt really be always attached with Fomo, once you do get caught yourself in the middle then you would really be having a hard time on catching up.
When it comes to sentiment then we should really know on when to get in and when to get out because not all positive sentiments or words would always accompanied with rise.
You wouldnt know if it turns out to be deceptive or real one or just simply a personal own views but people do take it seriously from time to time specially if it came from a popular person.
It can really influenced out the market considering on how this man is capable in terms of financial.

Apart from Bitcoin, Elon hasn't explicitly asked anyone to invest in any other cryptocurrency. If you look at his tweets related to DOGE coin, it can be seen that he has never asked his twitter followers to invest in it. Neither has he claimed that DOGE is a good speculative investment asset. But as you said, Elon is like a double edged sword. If he can pump the prices with his tweets, for sure he can cause a drop as well.

What I have learned from Elon's influence is that I should follow the crowd because what Elon is going to preach is definitely going to go up, this is an observe phenomenon for a long time and I think that with the current population being fanatics of celebrities, I think that that phenomenon is more evident more than ever. So next time, Elon says that you should buy Doge or Bitcoin or any coin for that matter, buy it even though by the time the tweet was posted, the prices were already climbing, you can still get some money out of it because a hype won't die that easy.

Very often, in the direction of Elon, Mask now speaks negatively, as if he is speculating with his tweets and deliberately by his actions interests people in investing in one or another cryptocurrency. Of course, Elon Musk's tweets do not directly call for certain actions of cryptocurrency users, but at the same time, each of us makes a choice on our own and no one is to blame for certain results, except for the favored person himself.

Elon Musk is simply using his influence to gain more profit in cryptocurrency market, to have much more funds to support his project. We have to understand that his company including SpaceX are spending a lot of money to achieve their goals but at the same time it has the possibility to lost lot of its funds in just one mistake. We all witnessed how his rockets failed, and I'm sure its a million dollar rocket. And what do you think is the easiest way to retrieve what was lost if you have the power to influence people and control the market? Trading, I guess that's it.

Influence is power and he is using most of his. That is his strategy, and now that we know, let us take advantage of it and make profit.  ;)

Sure, but without speculating on how much he has invested in Bitcoin, I doubt that it can cover the vast amounts that get burned through space x. And even his hype will not affect BTC that much because the fluctuations rely on much more than just one factor. It can cause a slight spike, but that is short lasted and really don't think he is counting on that to finance his endevores.

Actually it depends on which coin that you buy, if you buy an altcoin like Doge coin then your statemnet will be right, you have to buy quickly because its price movement will be more volatile. And if you have got a high return then you have to sell the coin because the drop price will come as soon as possible.

So as you have to be carefull when you buy an altcoin, it will be different if you buy bitcoin. I guess if Elon Musk or other person who has a popularity buy bitcoin then there is a chance for the market movement will be held for long time. You just need to be patient to hold the coin and ignore some bad suggestion.

- Well, we don't have the same influence as Elon Musk but we do know his method of influence, as long as we follow his line of thought, we will capture the next trend, I know this is the thought you are calculating but if I can such calculation, many others also not an exception, and if the crowd follows a line of thinking, no one will benefit in this situation, this market needs losers. Some other influencers will probably generate the opposite flow of thinking or the big investors will steer this boat in their favor, therefore, Elon Musk's opinion is not always to be followed

There were many who benefitted in Elon tweets especially in BTC and Doge. If we wanted to ride on the hype we better be updated but when it comes to BTC or ETH there is no much impact now since there are already who invested in it but if ever he will tweet again new alts, it can definitely give an impact and many followers will sure to follow.

Actually, we don't need to follow in the footsteps of Elon Musk's tweets. I'm afraid it will be a risk for when you are late in buying and selling, sometimes they just make it up to create new hype so this can lead to the altcoins that have been created in the hype to the best of your ability. maybe when buying altcoins you have to be quick when the pumping happens therefore I think Elon Musk is now more and more looking forward to with his new tweets.

It is true we have to be careful in this case not to follow the direction of others while the risk is borne by us. The movements are indeed very active and fluctuating, but that can be made by us how to see the real market.

Unfortunately this is the trend that is happening.  Influential people make a big impact on the price of crypto.  Due to the current high price of Bitcoin it is also their big role and their tweets.  Without Elon Musk, maybe at this time Doge is still at a minimalist price.  The power of influence was immense.  Can move whatever he influences.  That's how it works today.

People are getting more and more attracted to hype because they might be able to turn a profit quickly once the hype is created. EM's influence on Doge is huge and people are looking forward to his new tweet. This is a very risky but also lucrative situation. It is a habit that something that is driven by hype has a very large degree of fluctuation. If people bought at that high price then they would be stuck for the day if they still held on to it.

Remember that the hype is only temporary and it is still very possible that EM will choose another altcoin to be mentioned in its tweet and of course it will affect the altcoin price that was tweeted earlier. Do it with caution because everything is the responsibility of yourself.

There are followers who are blindly supporting those known personalities, they able to bring

huge impacts to thier chosen project and make it move the way they wanted it to happened.

With those addition to this industry, bgi names like Elon Musk really affects the entire market

each time he tweeted about cryptocurrency.

Yes, he played around his tweets very smartly. He created polls and asked followers whether dogecoin to the moon or other cryptos to the moon which ultimately created an image among investors and traders that he is putting dogecoin against all other cryptos which sounded like something big is going to happen with the dogecoin.

It's similar to asking chips vs the fast food poll, then although not promoting you are consciously pushing the value of chips ;D

People went crazy because it was a kind of domino effect, when one buys a coin, others follow and hence the price keeps rising because everyone is buying looking at each other until the trend stops and the dump starts. I have no doubt that EM musked the price for dogecoin for whatever intention he had.

Yeah, this is a good example of idiots who just ignorantly jump on whatever Musk says without the smallest inkling of what they're doing. The fact that a totally unrelated company got pumped so hard by investors who mistook it for something Musk was talking about is exactly why his cult of personality is dangerous to lemming investors.  Musk is not emotionally or mentally stable enough for people to be basing investment decisions on things he says, so I don't feel bad any of those people FOMOing into Signal Advance got burned.

What actually can someone learn from the influencer is to know and understand that his influence wouldn't last for ever, on a serious note, his influence on doge helps the coin to a greater high but in future, the hype might stop and the doge coin start depreciation.
But in the long run, the crypto community might get a new influencer that would be more richer than Elon musk.

Yeah you are right whatever he tweeted will create a huge impact but not a long-lasting impact if he is going to tweet or follow a coin that has a huge impact on the community for a long period of time, he should have tweeted Ethereum first, the Doge Coin ha a hidden agenda behind it, there are investors who lose here, of course, there are long term holders that made a huge profit here

I am not saying that he is ONLY counting on that to in order to support his endeavour. Of course, if you're a wise man you will not depend yourself on just one financial thing, least you forget, it's Elon Musk.

And I disagree that it won't affect BTC price that much. We should not forget that the market is being drive by human emotions too, their greed and indecision, that is why some Technical Analysis is strongly backed by psychology, some are derived on how people would react in certain market movements. And therefore, Elon Musk will attract lot of greedy and indecisive people and will surely put them in the market. All in all, we're talking about money here, and who wouldn't want it?

But still let's see what will happen...  :)

Great read throughout the thread. Well we have live example one more time. After his recent tweet about the doge and bitcoin where he compared bitcoin with his company named TBC, the course of bitcoin changed one more time. It is going crazy all over again.

I have kinda started to think it’s a pattern here. For each 5k USD slot there is up surge when Elon tweets something. It is but obvious that bitcoin is now headed for the 65k USD target.

Slowly this man only with his tweets will bring bitcoin price to the level of 100k. Mark this post.  :D

But when it comes to investing investors should be wise enough to follow their own research, it's your money that you can lose if you made the wrong move, compare to clothing, investment is a fortune that you have to take care of and you should not depend on celebrities and make them your judge where to put your money, you can listen to them but never follow them blindly.

Indeed, Elon Musk is tweets are influencing the market.
He is a humorous person and I always think so on every front.
Ever since Elon Musk supported SWB and became more interested in this market, i started to follow him more :) , i gradually forgot my work experience in the industry.

When someone like Elon Musk (who is the second richest person in the world right now) tweets about Bitcoin and his company (Tesla) invests in it, there will be a big boost in the exchange rates of BTC. This is the reason why people are investing in BTC, and not solely because Musk tweeted about it. Also, there are other factors such as institutional investment and acceptance by major corporations such as Mastercard and Microstrategy. Musk/Tesla had their role in the recent bull run, but there were other factors as well. 

If you can see that this would really be beneficial for you then its not really a bad thing for you to follow him and its no denial that he can really affect the market movements

out of those tweets even though those are just a bit of trolling or just for fun but still people or the community do really make serious out of it which they do make use of their
fundamental analysis.

Learning is part and as you do observe up then this will really be putting you in realization on how these tweets or influential talks could really make the market move.

How to use brain to take profit via my followers. In my opinion elon mask plays a games with us. He knows lots of people, biggest, smallest investors follow him because they know elon mask is a wealthiest man and they are interested to know where elon must put his income to make more profit. Thats why we Follow him if he give a signal to us then we will invest that company so that we can also make profit. I think elon take that chance and after his investment he is playing with his followers by saying about bitcoin and doge . And then we saw the huge price pump difference and then maybe he take his profit then we saw a dump again in doge. Its my opinion.

Actually I did not listen to him because for me they doing this for his own purposes they tweet a coin that he wanted to increase the price because they have investment on it and they need to rise the value of the coin so he can sell his assets to earn more money and that is the purpose behind his tweet and the people will suffer from in the end because for sure if dumping happen they already sell their assets they have.

manipulating the market, well that's the real goal...
I follow Elon's Twitter and his tweets have an impact on the market, I don't know if the buyers are newbies or whales who deliberately manipulate Elon's tweets as having a big impact, *Who knows! but I like his tweets 'lol'

Also what makes it more attention worthy is which crypto he is promoting, if he was promoting BTC, which he does though, I have no problems at all. But, promoting a dead coin like dogecoin is something I never thought he would have done, not entirely sure for what reason he did that.

This is where we need to use our intelligence and appreciate what he does right and ignore/oppose what he does wrong or shady. Promoting dogecoin is shady and there is no doubt about it, just ignore buying because he is promoting it. Promoting Bitcoin and announcing Tesla accepting Bitcoin payments was a great and appreciable move and worth buying some because these kind of news certainly help the price and the overall value of Bitcoins.

It isn't about the wealth. Elon Musk's popularity gave him an ability to manipulate other people's opinions and affect some events. 21 century - the era or influencers.

It's best to stay away from such tweets to preserve your assets, especially for those who are trading on margin. Elon Musk has caused many people to lose money and he is his own victim. He's famous and rich but he's also a market riot. His influence is enormous and the way he uses it is something to worry about.

Elon Musk as the richest person can really influence a lot of people, even though a simple tweet from him can make the market moves too much, I remembered before when he used the #bitcoin on his bio, and then suddenly the great movement for the price of bitcoin goes up, the same thing as he tweeted about the dodge coin which gives so much value to that altcoin.

I totally agree that it should not be something like dogecoin, but dude is not doing it for investment advice, and if anyone listens elon musk for investment advice, isn't that sort of their problem? I mean there is really nothing wrong with anything elon musk does because he is just saying he likes some coins, I say the same thing as well, I say I like this coin or that coin but nobody listens, which means he is doing something we all do but since he is famous that becomes a problem for him.

Instead of him ignoring everything and start not acting like a regular person, we should all treat him like he is a normal person because he is, just because he has money doesn't mean that he would be smart about which coins to pick, people act like he can decide which coin would go up, all because they think he may buy a lot and increase the price as well.

He doesn't technically "burn" money in spacex, he is building a new technology and that costs money, consider it like R&D because when humanity can go to mars and even live there, all of the things he has achieved right now would be a great help, he is making that a closer possibility.

I dislike the guy as much as the next one, I think he is the one that signs checks and just allows engineers to do what they want, so he is like a rich kid building a toy for himself while there are real workers behind it, not like he builds anything at all, but the reality is that dude is as good as it gets when it comes to helping humanity get better. So long story short, he could find money some other way, it doesn't have to be space x, in fact his tesla shares are so much that he could sell some of them and help space x be funded 10 more years with his networth, hence I think money is not the reason.

Those are one of the problem that we face nowadays, just because some certain huge individual mentions that a coin is a good one, they will follow them right away. That's what happened with Dogecoin wherein as Elon Musk kept on advertising it on twitter, the value of the coin went high and many started expecting that it will reach $5k on the next 5 years. There's nothing wrong with that actually but sometimes we are being blinded or given false hope that often leads us to falling into their traps.

What I learned from Musk's influence is that whenever someone who has the influence that can move market, I better get in early on that market they are shilling because the market moves base on trends and if they can make it trending, you better be an early adopter because their influences wane and if you are just part of the crowd, it will be too late to make a profit.

Instead of chasing your choice, I choose other quiet parts of the market because for an influencer, they never let us know that we have come sooner or later, we cannot act solely on such a trend, looking at the value of the projects that the market pursues, quite a few investors have lost money to Elon Musk just because of one of his decisions. Today, a sad day for many people when they want to follow the crowd, learning from Elon Musk is learning how to control the game.

You aren't sure about the quiet parts of the market though, read the Keynesian beauty contest, it's an experiment that is trying to understand the psychology of the masses and it can be applied with the market.

"Bitcoin plunges to $50,000 after Elon Musk's tweet sent price down 17%" Source: https://www.businesstoday.in/markets/commodities/bitcoin-plunges-to-50000-after-elon-musk-tweet-sent-price-down-17/story/438935.html (https://www.businesstoday.in/markets/commodities/bitcoin-plunges-to-50000-after-elon-musk-tweet-sent-price-down-17/story/438935.html)

After reading this I think of Elon as a hypocrite! And in case I am wrong, he is just another manipulator! Yesterday he earned hundreds of millions from crypto, today he is saying how Bitcoin mining and transactions are creating "the worst emissions of any fuel!" Why he didn't say that before he made a little fortune from this?!

Anyway, just another rich guy that wants to be richer... he is racing with Bezos, and I guess that race is more important than anything else...

So now when the price is down, will he buy this bottom and make even more profit in the future despite his words now?!

Maybe the word hypocrisy is a parable from you, I dont see from hypocrisy but this is the true nature characteristic of the whales in investing.  We should have realized from the start, there will be no one who supports it openly without any clear purpose.  Creating issues in a highly volatile investment environment is one of the best weapons for conquering the market.  This is one proof, crypto investors and traders must have a tough soul and high intellectuality in responding to many changes.  The market that has dropped more than 10% because of issues is a clear form of the high volatility that crypto has.  So, don't just believe for beginners that with a capital of 1 $ you can make 10,000 $ in just a few months.  That's the saddest bullshit.

Since I generally don't watch news or TV, I don't get exposed to statements from the likes of Elon Musk--everything I've heard him say has come from reading threads about him on this forum.  That doesn't mean I don't have an opinion about his influence, however.  Anyone who can cause dogecoin to skyrocket to the moon with some SNL skit/monologue (I'm not quite sure what he did) wields way too much influence over people, and specifically what they do with their money.  I'm sure the announcement that Tesla is accepting doge as payment helped as well, but he's so inextricably linked with Tesla that it's basically his endorsement of doge, not Tesla's as a company.

That doesn't mean I dislike the man--I don't really know that much about him.  Right now it seems like everyone is looking to get rich quick off of one scheme or another, whether it's Gamestop stock, doge, or DeFi.  Maybe in another time his word wouldn't have such an effect, but right now it's clear that a lot of people look up to him and want to emulate his success.

I prefer to lionize Warren Buffett myself, but to each his own, right?