Bitcoin Forum

No single individual has that much influence over the price of Bitcoin to cause a price crash. Price corrections and dips are expected during a bull run; these does not indicate it's a bubble which was getting to burst.

People thought Bitcoin was a bubble at $1k, $10k, $20k and now at $50k, it however still grows higher regardless of price retractions

What bubble, what burst? We are still trading at 50% above the price BTC opened the year at.

Corrections like these are always in play. A "crash" is always around the corner too. If you can't handle these corrections (big or small), Bitcoin is not for you.

This is why people need to understand the market before they invest in Bitcoin, otherwise we see panic induced posts like yours.

There was also a tech stock sell-off today.

Tech investors may have also sold Bitcoin affecting the price in the short term.

However, others may be looking for somewhere else to put their money now so might buy into Bitcoin in the medium term.

Elon Musk, Bill Gates, Janet Yellen, the Tether drama by NYAG. You can keep seeking for coincidences. Truth is that the price skyrocketed to 58K and, as always, a correction was expected. Is this the one that will close the bull season? The next few days will tell. Meanwhile, if you made a profit with the Dec/Feb raise, take some.

https://www.abc.net.au/news/2021-02-17/bitcoin-record-high-crypto-bubble-sceptics-fomo/13158596 (https://www.abc.net.au/news/2021-02-17/bitcoin-record-high-crypto-bubble-sceptics-fomo/13158596)

https://www.barrons.com/articles/the-bitcoin-bubble-could-be-popping-its-a-headwind-for-some-high-flying-stocks-51614105457 (https://www.barrons.com/articles/the-bitcoin-bubble-could-be-popping-its-a-headwind-for-some-high-flying-stocks-51614105457)

https://pursuit.unimelb.edu.au/articles/behind-the-bitcoin-bubble (https://pursuit.unimelb.edu.au/articles/behind-the-bitcoin-bubble)

https://www.wired.co.uk/article/bitcoin-value-price-surge (https://www.wired.co.uk/article/bitcoin-value-price-surge)

https://markets.businessinsider.com/currencies/news/bitcoin-outlook-price-not-ready-mainstream-3-reasons-ubs-warns-2021-2-1030068586 (https://markets.businessinsider.com/currencies/news/bitcoin-outlook-price-not-ready-mainstream-3-reasons-ubs-warns-2021-2-1030068586)

If Elon was what determined success in crypto it would already be over whatever he said, its not reliant on one person.   Perhaps the straw that broke the camels back but I dont think markets work that way and the sell off in BTC is not even especially dramatic compared to how much larger it could be after such large rises.   The market seems pretty moderate relative to the size of the move in the last year, that alone makes it bullish over the longer term and suggests further gains are not unreasonable.    Bubble burst is a popular analogy but this is a market adjusting, its not a correct fit and I'd say that even if I knew the price would drop the rest of this year.

If you think that it's start of the crash, mostly will just disagree to you. We may have seen a couple of flash crashes but that doesn't mean that the bubble has burst, because again if people still think that bitcoin is a bubble then you're going to be out earlier than the new comers.
The rise and fall will give you an idea which is favorable and how much was the total gain of bitcoin, if it has burst's its bubble then the question that will be asked next by most people that worries about flash crashes, is when will be this secondary layer of the bubble will burst.

First, it amazes how some naive cryptocurrency investors/traders believe Elon has the final say to determine the next momentum of the crypto market using his tweet.
OP, Elon doesn't have anything to do with the last market dump at price and I believe it the Wall Street but the dump in price is just a market correction wish shouldn't be seen as the beginning of the Bitcoin market crash

The tweets of Elon Musk is making ripples all the time, his recent tweet might have broken many bubbles including his personal worth as a valuation of over $15 billion was shaved off from his asset after the tweet and his position as the richest man is gone because of one single tweet and this is not the first time he is making these costly tweets and he is one hell of a character  :D.

Don't worry, OP everything is still in normal there's no bubble being burst yet it's just the way how the market works it's probably the price correction did its job to make a dip. It's a blessing in disguise if you would ask me because you can actually buy during this dip and wait for the right time to sell.

Elon Musk is just feeling like a celebrity or something to troll the market with his tweet and those fools believed in what he was saying and that actually causes the dip because they think it's dumping time. What a weak handed people.

Which tweets?
Elon Musk is a funny person sometimes. Some of his tweets are purely just for fun or meme purposes, some may sarcastic.
Even how Elon Musk will make some tweets in the future, people will start to adopt it, people will learn and start to treat it normal, one example is the FUD spreading on random news articles or sources a few years ago.

I like how every time there is a dip in the market some people think "the bubble burst!" haha


Bitcoin will be back to pushing new highs in March and will hit $100k this summer. Hard to not have a bit of a support finding dip when you go up by >50% in like two weeks!

First I will say that we are definitely in a bubble, but we are not yet on top, so there's no bursting or whatever. We are still going up or at least just started to form a bubble, so Elon Musk tweet didn't cause any bubble. What we have seen is just the normal cycle of a bubble, we need to see some price correction in order for the bubble to move forward. We need to wait till the end of the year to see if we have reach the top of the bubble or not.

As much as we can call Elon Musk an influencer, his tweet can be the reason for bitcoin to be burst. Everything still boils down to supply and demand. If traders and speculators see that we are in an overbought zone, the demand will go down and obviously the price will dip as well. There will be a big catalyst that will bring the market down similar to 2017's burst, but I don't think it will be Elon Musk tweet.

But the good thing here is that, it will not go down hard as it used to be. This is because there are so many stakeholders now. It is not just because Tesla was the only one who bought bitcoin, but there are so many financial institutions that are already into bitcoin. So even if there will be crash, it would not be that low. The situation today is different than couple of years ago.

It is being speculated that some original miners and early adopters are dumping their coins since December. Why they are doing this is unknown. However, I speculate that they might become early adopters of another project. That project might be the other coin that theymos accepts for copper memberships hehehe. This coin has also received a donation that came from a coinbase transaction of an original miner.



https://i.ibb.co/xzL31Kt/A7-C9-CDC7-03-A7-4-DC4-AA96-F454-F3981-F02.jpg

Source https://twitter.com/n3ocortex/status/1364699416012222465?s=12

I don't think Elon caused BTC to start the decline I think it was more people like Lindsay Lohan, Snoop Dogg, SouljaBoi, KISS, Tai Lopez, etc. They pretty much either got paid to tweet about crypto or they just gave crypto a bad image. Especially with what happened with Doge coin.

Later on it was the laser eyes that everybody started to use. All over twitter and even on CNBC we see people with red laser eyes including the two Winklevoss twins. Another top signal could of been those NFT arts selling for like $100K. Which seems like complete repeats of ICOs. Another top signal can be all these DeFI coins which get 10x gains in a manner of days.

I find it funny that the price is above 46k and people are worried about a crash, the correction was important, that was undeniable, but this is not a crash and even if it is so what? A person does not have the power to just crash the markets, also we must remember that Elon Musk has bitcoin, why would he crash the market on purpose? He will be affecting himself negatively in the process, so most of the time it is impossible to adjudicate an important movement to a single news or event like the OP is trying to do.

they are dumping since december but why there was no real drop happening in the past months . miners are also like us and the reason why we sell our coins because we want to profit . they are experts and they believe that the price of btc last time was the highest so they sell what they got and they also sell because like what you said they are investing on another new coin but was that coin not the mimble wimble coin something ? because afaik that was the coin that was introduced on this forum before or they might be a new addition in the team  . thats cool though

I do not think much about Elon Musk tweet because I think bitcoin does not depend on him. This time, bitcoin gets a correction, which unfortunately makes the price go down deeper without what we can predict. But we can draw a line to predict how deep the price will go down. I think Elon Musk has made a noisy to the crypto market and maybe he wants to make people panic because of his tweet. But let's be positive regard for his tweet and it is better to prepare to buy bitcoin at a discount price ;D

But look at what happened when he did that Tweet. You are right that it bitcoin doesn't depend only on what words come out of Elon Musk but we all know that an influential person can move markets, there is a reason why companies get celebrities to advertise their product and services, they can influence the public to buy their product and services which in turn moves markets.

Article about that large BTC dump here (http://here), looks like there are several cash outs from a single mining output so kudos to that miner who waited for a decade. Its amazing to think how long these guys has been holding. I wonder why he cashed out one time? I bet there are a lot of other early adopters out there who are only cashing out now.

On another note, even while Elon definitely has some influence even through just a tweet, he's not the only factor that affects the market. There are so many factors that could have driven the price up and down plus we were very well due for correction so it doesn't look like a bubble burst to me. A bubble burst would have the price drop to drastic proportions, something like the bear pattern after 2017 ATH.

I think so this will start to crash, news and other speculations also started to burst right now. But if you wanted to ride on this trend, don't hesitate to sell in order to be at safer side. Most panicked holders now are shaking off their feet and really worried specially if they're holding huge quantity of assets.

BTC doesn't depend "only" on what Elon says, that only means a lot. Sure he could increase it and decrease if depending on what he tweets, but if Elon doesn't tweet about crypto for a year, does that mean crypto prices will not go up or down?

Basically it would go up and down even without him, so the fact that crypto doesn't care about what he says is not true, everyone cares about what he says because he could spare a lot of money and buy bitcoin and increase the price, right now we are in a market crash around the world and basically we could have a bad situation for a while, if he comes out and says he will buy a few billion more that would be awesome BUT that is not the only reason bitcoin could go up, there could be other reasons.

No one has the ability and capability to crash the bitcoin market with just twits, like in this case of Elon Musks. Although he twitted recently which made the said bitcoin experience bubbles but that doesn't mean he's solely responsible to the crash. These burst are not far from what we heard experienced in the past, take for example the 2017 up and down crises, so, we have been here before now even more worst.

The project is called Grin and it is only a speculation. It might also be a biased one hehehe.

In any case, this does not appear to be or to cause a bear market. We can only speculate why the original miners are dumping their coins.

he is an investor and like every investor he wants profit. he made some comments like this one (https://twitter.com/elonmusk/status/1363007438455074825) with peter schiff, it's likely the one that causes the selloff. somehow people sees elon's tweet as the basis of how they decide on what to do with their investments. you can't take that away from him because the guy really has a broader view.

peter:

Elon Musk must be cursing himself for making that tweet. He has suffered huge loss after that.
Sometimes it seems like it is all pre planned. Now he must be accumulating more.

Although he did crash in the past Tesla's stock price with a tweet, I believe that in Bitcoin's case he cannot do that.
Whatever some guys want to correlate, there's no such relation.
The current dump correction was long due, all what Elon Musk did was to "buy some time" before the crash coming anyway.

I don't believe Musk tweets was responsible for the slump in Tesla stocks but I believe his tweet made so much pump in bitcoin and doge coin. His position as the world richest man could influence many of his followers into FOMO. The height of this pump from the expect result in the dip of dump as well

Yeah, he is funny. He just posts jokes/memes on Twitter but people react to it like it's the message from god. That's the real problem but as I see, people are slowly adapting on it. I think they hear proposals from friends like: Hey, this man just jokes and have fun with it, why do you seriously follow him.
On last tweet about dogecoin where the flag of doge was on the moon and his statement was: Doge on the moon, actually <-- I thought that dogecoin would skyrocket again or at least have 50% and more rise but seems nothing significant, price went a little bit higher despite the fact that BTC was falling (just some percentages) and then went down again, so, his tweets are losing value on every following attempt.

Still it affects more or less, elon current influence is actually quite big enough to cause scene in the market it's like how institutional investor affect the market as a whole, his words kinda carry weight in the ear of most bitcoin holders. Though such thing shouldn't happening actually, feels manipulative.

It is true that Elon Musk has an influence on the increase in the price of Bitcoin and Dogecoin, but we can't blame Elon Musk if the Bitcoin price falls
in the end. When there was FOMO since Elon Musk wrote the tweets, that is what is wrong is the investor himself. Besides, I don't agree that the decline
in the price of Bitcoin is now referred to as a bubble burst, because the decline in the price of Bitcoin is still relatively normal. It is very different from
what happened in 2017, so I am still optimistic that the price of Bitcoin will rise again in the near future.

Or he had sold already then planning on buying back when the price crash.  I got the feeling that the tweet made by Elon Musk is just a signal for sell-off,  they short and gained profit, people followed and weak hands shaken to sell their stash, the price goes down, they buyback.  Now they have more money and more BTC and acquired a huge influence in manipulating the Bitcoin market.  Isn't it a brilliant strategy as a businessman?

There is no any personal or any company that can make bitcoin crash or bubble Because Bitcoin is decentralized and uncontrolled. And like I said before "Elon Musk's tweet is unhealthy for the crypto industry, He should stop making tweet like that

Do you know his last tweet about Doge? But no effect anymore. People are learned from past

Do you know what happens in 2017?? After Bitcoin pump massive and Huge correction comes for about 2 years?

2 years correction and no Bubble occurred

And you say the last correction that happens only less than 10 days will bubble?? because Elon Musk?? Elon Musk will make Bitcoin Bubble? I think before you make this thread, you should learn about what Bitcoin is.

It might because they want to invest on another cryptocoin project, I speculate on its mining infrastructure, or maybe also some project that is not in the cryptospace that needs urgent funding.

However, yes they appear to be acting very fast to have their coins sold.

I believe that Elon Musk tweets have influenced the rise in asset prices on crypto exchanges, but I don't think it's a bubble. An increase in the price of an asset is dominated by demand and supply. when market demand increases, the price will increase. So, when Elonmusk talks about bitcoin or doge, their fans will buy-in, and investors will also take advantage of the trend to make a profit.

Pump & dump
Elon is using Doge as an accelerator.

Buy Doge stealthy then promote it and make instant 800% over it.
Inject into Bitcoin and wait for that to go 400%.

So 1M becomes 8M becomes 64M... that’s how you make huge profits...

Tbh. there's no single person or any person that may said that the bitcoin will down even though your a famous and big investor of bitcoin, because at the end of the day there are no any people who is controlling the bitcoin. Is it just because Elon Musk tweet something, it may crash bitcoin? NO! Maybe there's a little impact on the market but yet there's no one who can says that the bitcoin will crash and as I am seeing right now he is just doing this to manipulate the market and to obtain more bitcoin in a very cheaper price.

When these people do say out some words then we cant really deny that they can really make out significant effects on the market but it would really be enough to crash it down to the floor.
Bitcoin doesnt only talk about Elon Musks itself considering on how many people had been owning bitcoin in the first place.He can spread up manipulative words as he like but this
market will recover no matter what and thats inevitable. One thing on where i do believe that Elon is busy off is on with Dogecoin.He had been hyping this
meme coin a lot in past weeks or months.

There are more celebrities that have actual influence in their analyst skills in what bitcoin sector is in.
And that is the financial district such as Mr. Wonderful who just added those laser eyes to his twitter profile picture while tweeting about bitcoin which he added 3% of his total portfolio with just yesterday.
So instead of taking financial advice from a amateur crypto-dummy like Musk and his musketeers who follow him on that platform and hanging by every word he has to say, rather take a queue from Kevin O'leary who actually has known history to make "The right call!" on what to look out for that will make you money.
He is one of the sharks on Shark tank after all.
Him and Mark Cuban are both pro bitcoiners right now.
Take what they have to say about it to heart and just see what Elon has to say about nothing he knows absolutely nothing about as just a joke.
As he has been crowned the meme master on the internet a while ago. ;D

I guess no, Elon Must has attracted many people to join and support bitcoin. If bitcoin crash, I have no reason to blame Elon Musk, the price crasshed it just because the investor or holder thing that bitcoin should meet a correction as a healthy movement.

Yeah, we should be carefull if there is investment place who continously increase without any correction. We will expect the its price movement will dump eventually, so I don't want to see it in bitcoin price movement. Taking profit is really important for short term investment, so if the bitcoin price drop it doesn't mean it will be crasshed but it is just meet a correction.

I don't think Elon Musk deserves to be blamed if Bitcoin suddenly drops in price, because Elon Musk never forced people to buy Bitcoin in the first place.
So the person who decides to buy Bitcoin is indeed done with full awareness and without coercion from anyone. So if we do experience a loss, the risk
must be borne by each person, don't blame Elon Musk.

Don't just want to profit, but we have to be prepared for the risk too. The mistake of many people when investing in Bitcoin, is not learning about
Bitcoin first, before finally buying Bitcoin. So a lot of people panic when the price of Bitcoin suddenly drops, and end up blaming other people when
they experience losses.

No doubt Elon has a lot of influence ever since he was named the world's richest man but his tweet only don't actually influence the price of the cryptocurrency market and this is the fact major of people in crypto don't notice. He have the money so what he usually do is to make the announcement through his Twitter account, invest in the coin just to create traffic and since the most investors of this day are opportunist they join the trend and every go boom.

He's been jerking off over to the price of BTC when it went up too high because as he mentioned it "later" that Tesla bought $1.5 billion USD worth of BTC, some fools (according to his mentality and as he thought) believed that he bought at a high of $45k. Freak, did they really believe his shit? He must have bought it already during the accumulation phase of around $10k and $19k and have sold it over at $57k-$58k and then started tweeting about the price of BTC being so high, just in case to test it out that his tweet does the job for him or not (which it probably did because this bastard has a wide network of high-end investors whom he can easily influence and move the markets to his desired direction). Now, he's the only one who is in huge profits and is still going to make a move soon once he accumulates back at a specific support area.

Elon Musk has turned himself from bitcoin hero to someone similar to John McAfee in less than 1 month hehehe.

However, is he doing this to pump and dump or is he doing this as a distraction? Tesla was summoned by Chinese regulators on the day the news about Tesla’s bitcoin purchase was announced. I speculate that it was not a coincidence.

He made some profits with his previous tweet so did the same and got the reap as well because price again went to 50K from 44k, and it shows that cryptos prices cannot be controlled even by the richest people on the planet.

So are you telling that it is possible for a single person to manipulate the market or is it impossible to manipulate the market  ;).
Bitcoin is not controlled by anyone but if you are having a huge bank balance then you have the capacity to manipulate the market and since it is not regulated you wont be facing any issues.

This scenario only happens if you buy at the dip and sell at the peak, and I think no one cant do it, if people see the price increase 100%-300%, they will sell it immediately, no one waiting until become 800%, Even Elon Musk can make doge price become 800% but it's not mean all people will gain 800% profits

Elon is just a figure head of course, more important news really is about dollar yields which are a bearish indication for massive monetary flow and this does have an effect on Bitcoin outlook.   Elon commands billions and sure its news but a one off isnt that much, dollar news is about trillions so almost anything there is a big deal and when its a trend then it alters everything.

you misunderstood it...
elon's tweets only make the market livelier, those who don't believe in Bitcoin will definitely not dare to buy Bitcoin but those who believe in Bitcoin will definitely buy it and HODL even though the price drops. the point is whether Elon tweeted about Bitcoin or not, the number of Bitcoin lovers and haters is the same.

Buy before you hype it. Then during the hype buy some to fake your position and start the upward momentum.
Then when everyone is buying GTFO...

I don't really think so mate becasue Elon Musk's bought from the top and for anyone sitting out there saying that he caused the bubble burst with his twits i disagree. Basically he trying to sturdy the entire Bitcoin market before another action of him, so, let wait for something good twits from Elon Musk's. Possibly we are experiencing some little correction which are needed for another forward match.

Honestly, people like Elon can be conning sometimes, difficult to predict and it hard to know when he actual invested in Bitcoin because we can only know when he publicly announces his investment.
In my opinion, this people will always use us to achieve their pump and dump procedure but I also disagree Elon was the reason for the dump in price either.

You might see elon to have that kind of behavior but doesn't mean that he is really truly engaging with bitcoin with outmost sincere or does have that kind of support.

The intent of seeking out for profits is always there in spite of being the richest man in the world but still looking for more profits would be still in priority.

Now, people had been eyeing on his next possible tweets about recommendations.This guy is been hyping up that much on DOGE but it seems people are
still on that observing mode yet it didn't really move up much nowadays.

I actually don't expect people like Elon to engage in Bitcoin with utmost sincere which is something we have once seen in McAfee, Ver etc that's the reason why I said earlier that people like him can be conning sometime.

The rich will always be thirsty to make more money and fame which is the reason why I don't believe mostly in everything people like them say.

I still don't know why some people will never learn or face the genuine fact about the disadvantage of the hype created by him.

Casual manipulation? This isnt something new and thats the typical movement on where these people do buy when the market is silent or doesnt have any news or events
and then they are trying to hype it out and buying to make some realistic movement to fool up the community and would be doing the same.Those people arent
really that dumb to hype a market and wont be considering on making profits with it.Those are wise bastards as usual.

I think yeah it might have an effect as seen by the tweets he's made but for him to cause a compete bull or bear market on a trillion dollar asset by merely tweeting something is kinda rediculous.  I'd say for the day it has a positive or negative mark on bitcoin but not for long stretches, too many players involved at this point