Bitcoin Forum

Yes it's happening folks. It's a playground for the riches, for the narcissistic egocentric billionaires who don't give a * if you are getting rich or you're losing all your money.  They do it just because they can, to boost their stupid egos.

"Doge spelled backwards is egod" said Elon Musk once to reveal his god like narc personality. This guy likes being worshipped by the dumb sheep.

However, even if we're having a loss right now, more people are stronger than a few dumb billionaires and I'm sure BTC will come more powerful than before.

The history won't let Mr. Snake Musk escape with zero consequences.

To the Moon!

I wouldn't say "crypto" because not all cryptos are billionaires game and neither they are interested in all cryptos. But this is especially true for Bitcoin definitely. Being a pioneer cryptocurrency, bitcoin has always stayed in the center of attraction. So whenever billionaires or corporates have decided to go ahead with crypto investment, they have only chosen bitcoin, nothing else!

Jemie and Warren has already shown the way and Elon has taken it forward. But I think the crypto market will soon stop responding to these billionaires after learning from expensive mistakes.

Isn't it always been like that? We got McAfee, lots of hedge fund playing around on IDO/ICO/whatever they're labelling them with. It's not possible to be free from those big players, retail will always follow them. It won't last very long tho, when the hype dies it will die too. But doesn't mean they won't find a new way to mess the market.

When it comes to doge, it's indeed a highly speculative coin which is not so much the playground for the riches, but for one particular rich guy who's obsessed with it. As for his move with Tesla stopping accepting Bitcoin because of environmental concerns, I think it wasn't a fair thing to do. However, Bitcoin lost only 10% of value compared to its price a week ago, so it's not a huge hit, and I'm sure it can bounce back. Crypto prices are volatile, but it doesn't mean that the price is controlled by the riches or that these price changes are all there is to cryptos.

I'm not agree. First of all, it's not really wise to say that all crypto for rich now. There is a lot of cheap altcoins. And some examples that's not cheap but has really low fees. And you don't have to buy whole BTC. You can buy fractions of it especially on the dips.

It seems that OP is more affected on this current situation so he/she is more mad right now. How exactly do they mess the market though? That's the part that I don't quitely understand, is the messing involved manipulation.

There's always the new trend in crypto and that's why I like on it. Aside from bitcoin being volatile and its move can be influenced by those biggest names not only in crypto but in world's most known people and personalities.

It's not only crypto that they're playing with or influencing. I think they are everywhere just like in stocks when Bezos divorced, he dumped a huge amount of his stocks.

I have to agree with others, most probably you OP is talking about the recent game of Bitcoin and Elon. All crypto isn't for millionaires and all cryptocurrency couldn't make us millionaire as well. But I have to admit a few millionaires playing with a few cryptocurrencies. Especially with Bitcoin, the past few days we have noticed a few dramas. I will consider it as manipulation. Whales or millionaires just trying to control the market and taking advantage. But those we are very small cryptocurrency users just losing. Because we don't know what is going on. Who could realize whales play movements they could take advantage of and profits. But we are helpless here.

The latest events really made it look like their playground. Because I think that the main goal was no different than manipulating the market of course. I say this because I find Elon Musk's reasoning for Tesla's action really hilarious.

May be his ego is making him to tweet. But as you mentioned I doubt whether he is bothered if anyone follows him or not.

The market is over $50k and you think that it is not enough. It is good too see corrections once in a while and no one can manipulate the market for a much longer time.

what do you think will be the consequences, zero as he never leaked any insider information and he was doing these sort of market influencing tweets for the past few years and now he is more tweeting about cryptocurrency market and that is the only difference.

I think it's just befitting since at this point in time, only the rich can afford to go ham on crypto and still remain unscathed if worse comes to worst. They can risk the biggest $ in exchange for lucrative amount of profits without even sweating about it. But once the playground is heavily regulated, look at how these billionaires come pulling out their assets and proceed to put it somewhere else where they can do everything and anything that they wanted to. It is what it is, I guess; they will just get richer and us here at the bottom of the ladder will try to climb it with false hopes of reaching the top someday.

People are just riding the trend.  I wouldn't argue that crypto market is dictated by billionaires or whales, but I am sure that those who rides the  altcoin trend now will eventually sell their holdings and go back buying Bitcoin on its dip accumulating more BTC in their stash.

I'm more and more inclined to think that Elon just trolls the crypto market and enjoys seeing how the markets react to his tweets. His latest tweets are really irrational, especially coming from a supposed tech genius. Bitcoin energy consumption FUD, then "working on improving Doge's efficiency" - both complete nonsense, yet it caused huge movements on the markets. Eventually everyone will tire of it and stop paying attention, but it could take months before it happens.

Thats it, the smart money is coming into Bitcoin, and staying in Bitcoin.

The weak hands bought Bitcoin on the rise and sell it on the fall.

There are also those who follow EM to the death in the hope that they
can follow his money making expertise...

While we see high wealth companies and individuals buying Millions worth
of Bitcoin, anyone can buy it too with almost any amount of FIAT, so its not
exclusively for wealthy people.

maybe EM is bored so he wants to create a small wave. And this actually has quite a significant impact, take a look at Doge.

the longer it looks like it's made up, there is a certain scenario at play. and a sizeable market sentiment is therefore bound to be affected. although there are other things that might have a more significant impact on the price drop, please stop playing around with this.

He is only out to make more money from all this consistent tweets, am saying this because he is a business man and his goal is to make profit by trying to manipulate the market in his favour. And if you are in his position you will do just same.

Exactly, crypto has now become a place where these billionaires have parked their billions already at very low prices and after adding a lot of liquidity to the markets, they started manipulating the minds of people by saying anything good about crypto so to make the prices boom. Now, when the times will come when these institutions will need their profits to be taken out to repay the investors who invested their money in these institutions, the price will be hit by immediate dumps just as we are seeing nowadays.

That's what I was scared when the first big institutional investors get in and made purchases in bitcoin they can buy a lot and that means that they can dump the prices but here we are also benefiting from all of this so I wouldn't say that it is really bad per se.

Maybe Elon is doing this for the rich men too. That once that can afford every dip.
But those who buy doge don't worship Elon, they just ride the train to make money out of it and they all help pump the market by shilling the coin that the dogefather is shilling. It's all collaborated that even the local news in my country featured Dogecoin. Money attracts everyone. When you hold a thousand of Doge, you will want to shill it for profits and the chain reaction starts. Once he stops supporting Doge, those who bought will also start buying BTC that he just rejected recently.

You sound a little bit butthurt. ;D
People like Elon Musk aren't supposed to give a sh*t about the "average Joe". When you are trading financial assets,the profit of one is the loss of another.There's no room for charity and compassion.
Unfortunately you are right about the crypto markets becoming a playground of a few rich people and companies.This is because the crypto markets are still relatively small,so a few crypto whales can still manipulate the prices.I was hoping that this will change,but it doesn't. 

All I want IS cheaper Bitcoin prices in order to invest more.....  
The crap that anyone says in order to achieve my goal is irrelevant: chinacoin,  consumes more power than Argentina, its the tool of the very wealthy , China & India forbids Bitcoin (for tenth time?) , Coinbase stock owners has sold all stocks and went for lifetime vacations ....... I don't know, why don't you try maybe to shut down ALL electricity production in ALL CHINA?

What ever , as long as it guaranties cheaper Bitcoin price......

Keep going fellas....

Yeah, the market is their playground nowadays really. The latest incidents had a bad impact on the market for example. But still I'm happy that Bitcoin price wasn't affected on a large scale. These people can affect the cryptocurrencies whenever they want and we have nothing do about it unfortunately.

I am fully agreed with this point. Crypto is a playground for riches. Specially, I noticed about their futures trading. They already have lot of Money and they want more lot of Money. That's why they enter on futures trading. To be honest, I followed their trading some days and my balance was liquidated many time.

He should care about "average Joes", because they are the main customers of his Tesla. Rich people buy Tesla cars just for a collection, but "average Joes" buys them, use them daily, buys every car merchandise and etc.
Thanks to "average Joes" so much information noise was created around Tesla, SpaceX, PayPal. These "average Joes" can create so huge negative hype around Elon, so that would ruin all of his companies. 

Really? Let's see what happens when the average Joe doesn't buy his cars anymore, doesn't support his actions anymore, starts boycott him and his products, let's see what happens then when the average Joe doesn't give a *. You're underestimating the power of the average Joes, because these are many. We will see how Musk's businesses will go from now on but he already lost a lot of credibility and many are starting to see who he really is. Things will not go as great as before for him. His businesses are not as unique as some may think, he can be easily replaced by better people; people who have better morals and build electric cars and rockets, I'm sure there will be such people in the future.

I think things should be seen in a much broader context than that EM may have angered people who support Bitcoin, because honestly we are still a minority if we consider how many of us there are globally. The average Joe (especially in the US) doesn't care too much about not being able to buy a car with BTC, so he won't boycott EM because of his moves - and if you look at his Twitter profile the current figure is 54.7 million followers - and maybe a month ago there were only 52 million. EM is very firmly connected to government structures and no matter what and how it works, no one will remove it from the throne so soon.

As for the rich starting to take over the game, that’s a fact, and we can’t escape it - but they behave like most ordinary people who didn’t believe BTC could get this far until it exploded in late 2017. Even then, they didn't start to accumulate, because they had to wait for them to be legally allowed to do so - and the whole thing didn't really roll until Q4 2020 when MicroStrategy made its first big move.

The question for you who have been in crypto since 2013 and all those who have been there for years is why didn’t we invest more and leave them less if we could have guessed what would happen? There isn't much difference in the minds of us and them, they just have a lot more money to invest without risking their own existence.

Just ignore those billionaires and you will never be affected by the consequences. They try to manipulate the price of cryptos because people like us (not actual like us, they are easier to be affected, trapped in FUD and FOMO) always follow their tweets or any sign they can find

I will keep holding my bitcoin without selling a penny

I wonder whether Tesla is still keeping the most of the Bitcoins they bought. I wouldn't be surprised if they sold again more than they announced before. The aim was to manipulate the market in the end. Maybe they sold most of their Bitcoins and they are preparing to buy some more from this level.

Let them do what they wanted , But keep your Funds on HOLD, This will save you and also others.
because the more we are selling while they are playing the market is the more they gatehring the chance to make bag our money.
Yups, Keeping the faith and Holding? this will not let them take anything from us.

why would they care to you ? they are only minding their own business .
when you invest you do care to others ? i bet you dont  and that can only affect your performance except if you are a follower of elon because your going to follow what he commands .
billionaires in the world are not few and if they work together they are stronger than us regular people but lets keep the fight going . dont give up

...and as for the average joe who is a big follower of EM, if he is promoting DOGE for
example they are going to believe he can make them wealthy, if he says Bitcoin
they will move, if he says no to Bitcoin, yes to DOGE, they will move accordingly.

Its true about this saying "Money makes Money" but as I said earlier low income
earners have a limit on what type of investments they can make but there are no
limits with Bitcoin.

My Brother and I are constantly saying, "if we knew then what we know now" !

It is very obvious now that Elon can't be trusted with the moves he just pulled and I am one of such people who believed too that they must have sold even more than what they said and this was as a result to accumulate more.
I believe it will come to a time when actions from people like Elon would mean less in crypto if they continue trying to manipulate the market because they feel this is a free space.

This is the logic behind the actions even though you know his motives or not;

He posted about doge or other coins = Logic dictates that market will follow as supporters will follow so you have options:

1. You believe that he buys before he posted so he can sell more after the market go bullish so you don't but thus making you have no profits nor loss
2. You ride with the wave. You buy after he tweeted something, then you make profit out of it. Yes he made profit, but you as well.
3. You buy longer than others, thus make you ride the wave late. Ergo you've loss

I agree with this statement it has indeed become a rich and influential persons playground.
And some are enjoying playing with them while others are afraid because of the fact that they might lose what they have if they couldn't play it right.

Yeah, so it seems, cryptocurrency space is a decentralize space which means people are free to get involve, invest as much as they have and probably try to influence the market in a way to favour them, 
Having big investors coming to invest can be of advantage and disadvantage, they bring in huge funds which is good for the market and also can influence the market with this huge funds, they are like the necessary evil  ;D

They might be playing market and take profit for doing that  but i still believe in karma whoever tricks people for their own benefits they will also had the same thing in future . as example doge coin scheme i still believe there is someone behind it playing market price.

Cryptocurrency is a playground for everyone. Elon Musk is just manipulating the market because of his tweets, he will pay for what he did.
Everyone in the world can trade on an exchange 24 hours a day and 365 days a year as long as the exchange has no problems or maintenance for a minimum of 10$ (depending on each exchange). deal). People can trade on DEXs (AMMs) of different blockchains without declaring their identity. That shows that the cryptocurrency market is for everyone, not just for the rich.

Whales will never leave the market as they try to keep manipulating the market whatever chances they see. And with this fact that crypto becomes the rich man's playground, its really happening and i think we are also enjoying and riding with it just like the recent bull run we had for bitcoin and dogecoin bringing its price to the moon.

Rich men will always have the advantage if they want to come and invest in crypto and make it a playground but atleast we should also be smart to play our own game so we will not always the one being fooled at the end of the day.

DOGE is an exception in that the billionaire comes forward and shows is face (some might say his ugly face). I think most billionaires use crypto as a playground but certainly in the background without getting noticed. We won't see someone else of Musk's calibre step up and pull off similar shit.

Most of those Doge holders are just holding it because Elon Musk keeps pumping it.
Many of them don't even know why Dogecoin was created. Although Elon keeps saying that he's bringing new improvements to Doge, we should know the risks when the top 10 wallets of Doge holds the 60% of the supply. This is where the game changes.

Those billionaires aren't dumb, if they were - you wouldn't be writing this post. It's the followers that are dumb, I'm afraid. That's the only threat there is associated with these attempted manipulations. Not the whales, no someone powerful selling crypto (it only has a temporary effect), but the people, that follow the lead. And that's the main purpose.
If you follow the news it can be seen that the most significant changes in price are driven more often by the info on the media, someone's talks, rather than the actual sellouts.

I think some of the billionaires and savouring the popularity contest, I say some billionaires/rich folks because their should be some billionaires who had valued crypto-currency silently or some who crypto-currency made rich and still in it. I don't know if it's for meme, or for motivational quote or what so ever I think the rich are taking the spotlight of what crypto-currency is for, I got a call from a friend wanting to start cryptocurrency and she asked if Elon musk can make her rich, sounds stupid but this is what is it, well is all said in the post, I think a wise crypto-currency user should ignore games coming from game chasing billionaires.

This is, in principle, inevitable. Since the world of cryptocurrency is open and when a coin enters the exchange, anyone can buy it in any available volume. The attractiveness of the market is in itself a litmus test for capital that has borrowed only to multiply itself and get a return on investment. Another question is that investments need to be protected - and if you bought bitcoin at the price level of $ 50,000 - it is not profitable for you to have it lower, but on the other hand, you may not care if this is just a game for you.

You just realize that? Why you think people here that have accounts from 2013-2014 they defend Bitcoin with life? Because they already made money because you pay a expensive price than them, people is so fool...

I'm just amazed how there are always dumb people angry for falling for the same trap over and over again... What do they expect? An unregulated and volatile market full of "investors" without any comprehension or coherence who can be easily manipulated is a walk in the park for a businessman with a lot of money and influence in the social media. The problem is this won't be the last time it will happen and it will eventually be the downfall for bitcoin and the origin of the regulated cryptocurrencies.

If it is going to be true better to have some bitcoin to hodl because they will probably pump the prices really high and you have to be able to get as much bitcoin market pie when that happens because the dumps are going to happen really fast.

When we say rich, these are people who are smartly making money in crypto, yes, they are rich and they have the power to manipulate the market. It's a complete package if you are rich and popular at the same time, with that, making money is easy for you, one good example is Elon Musk.

I agree with your opinion. We are not required to invest or buy Bitcoin. There are coins with low value but also profitable. If you know how to invest, small investments also make you richer. But there is one thing you should admit if you want to stand on the crypto market, you have to be economically strong. Accept the risks if any.

There's opportunity in every action they made, and as "the poor" I am clearly taking advantage of it.

Though I won't tolerate this kind of behavior, but nevertheless, I don't have the power to do anything about it, so better be taking advantage of it instead of shiting something and something that won't do me good  ;)

I am in no way condemning the actions of the esteemed Elon Musk. But I also want to note, because with his help we have reached new heights of bitcoin price. Yes, he can manipulate the market, and he knows that very well. But with corrections like this, the market is only getting more interesting.

Actually on some point it is true that the crypto becomes the playground of the rich man because imagine that those who are rich and the one to purchase or buy cryptocurrency snd they becomes the big whales in which they have the power to control the market. That's the reality, the rich men are more powerful than the average person. Accept the fact that crypto nowadays becomes the playground of the rich men.

I started to see everything that has been happening in the cryptocurrency market lately as the rich man's games. Elon Musk has started to see crypto coins as a playground of his own and is constantly acting as if he is in the game. However, as a result, many people are negatively affected and the cryptocurrency market is suffering. elon musk did not good services this market at all.

While most of the ordinary investors are struggling their investment, the rich mans or the whales are just enjoying and playing around the market. It is quite unfortunate because no matter what we do, we cannot much the influence they have over the market as well as the money they are putting in. We got no choice but to wait till they get tired of playing in the market so that we can see it in balance and recover again. Let us not give up on our investments, maybe one day they will have the heart to help us out from making profit here in the market.

There's strong manipulation on the crypto market these days. Rich people like Elon Musk and Mark Cuban have huge influence over the crypto market, as people follow their moves. Prices could go up or down in an instant depending on what these public figures say about crypto (either good or bad). Dogecoin went all the way from being worth nothing to nearly $1 thanks to Elon Musk's praise through social media platforms. Bitcoin has also benefitted from Tesla's stance in accepting it as payment method. This is bad because it makes crypto dependent on a single person. It's like Elon Musk dominates the whole market right now. That's what you'd expect with centralized exchanges being the norm in the crypto/Blockchain space.

Nonetheless, people will ultimately decide whenever they'd want to allow a single person to dominate the market or all the other way around. No matter how the market is manipulated by rich people, crypto by itself will remain neutral thanks to the way it was designed. It's not about the price per coin, but rather how useful it is for mainstream payments. I'd just forget about how much a coin is worth in Fiat, and simply use it as a normal currency. Remember, 1 coin is always equal to 1 coin no matter what. Price volatility is only an issue when you use Fiat to determine the value of a coin. Just my thoughts ;D

This. Although whales are gonna be part to induce fear to some people so that they'll panic sell and they'll take their coins to bulk up further their hodlings for sure. I learned this back when Bitcoin dipped to 3k, and good thing that I didn't panic lol.
I'll emphasize what you said that a lot of blind followers follow their favored celebrities without doing any proper research.
This is why I am not staying for a long period of time in Twitter. There are many braindead followers of celebrities there.

there is no crypto benchmark for the game of the rich but many people who start crypto are not rich but after they play in crypto they become rich people and vice versa rich people who play crypto and they become bankrupt and become poor, this is the reality in the world of crypto.

There are possibilities that they will be market makers in a new variant. We had much better scenarios but it went completely bust leading to a breakdown in market sentiment, still FUD with China. Except, I'm not sure Elon was right to turn around at the fork with Tesla or he was smarter out of the game.
The wallets hold more than 10k BTC, it symbolizes power and what we have known in history. Lol

It is hard to deal with those big investors that are really manipulating the market without even thinking other people's feelings.

But what can we do? We are just going with the flow of the market and make technical analysis.

Hoping that they can make the market profitable for others, they should not play with the market during this pandemic.

I'm so agreeing with this, man. Rich men started liking to toy the market. And it really started frustrating us, the investors. And there is really nothing we can do about it which is sad.

It's true that we can't do anything to stop the rich man from manipulating crypto prices. All we can do is be patient and try not to be influenced,
as long as we believe in Bitcoin and don't sell it whatever negative news is spreading. I am sure that in the end we can become winners by getting
profit from crypto. I agree that anyone shouldn't play and manipulate the crypto market in this pandemic situation, because a lot of people will suffer
because of it.

Big investors certainly don't care if other people lose when they are able to manipulate the market, therefore the rich have more power, everything can be easily done.  Their main goal to get involved in crypto is of course serious enough to be able to develop the wealth they have.  But in fact, when the whale is able to manipulate the market, of course there will be people who will benefit from the action it does

In fact, some rich people can't put fixed criteria on this playing field, too many other rich people have different desires and are against these criteria, so poor management and living in loss orders for too long can still turn them into poor guy instantly, the poor in some magical way and they can acquire some assets in this case, they can still step into the position of the rich guys. The rich are also quite nervous in their decisions and survive here, they may have more money than many people but that is never a very real advantage, volatility is a wink

Yes, you are right. But why this is happening? Who helped them to play? Both answer is "we the Crypto investos, holder and traders". Because we follow every richest person. If they tell anything then without judging we follow them. For this reason they can make hype easily among us. And they take advantage of this. I think we should unfollow them. If we do so then the rich mans cant play with Crypto.

Everything concerning Elon musk am tired, because i don't really know his objectives into cryptocurrency, if actually his ambitions is to focus or channel cryptocurrency into the Rich's, everyone is reacting consciously towards his aim into one coin, which is doge coin, so what is really important into doge that's not in any other coins that made him to carry much promotion and advertise via doge, actually if he wants to stabilize other coin or castigate the importance of any other cryptocurrency, he should make it to be known to the society and also portray positively while Doge is much valid than any other cryptocurrency.

In the end it's all investors' fault, because no one was forced to sell bitcoins and help the whales to dump the market, nevertheless investors did it for fear of loss or just because they wanted to follow the big investors and influencers' steps. Unfortunatelly few investors who think outside the box aren't enough to stop the crash that is caused by investors who move the biggest chunks of money in crypto market and their sheep.
All we can do is to hold and wait until the market starts recovering again. I would like bitcoin didn't need these big investors to be able to rise, but that is just impossible.

Def not all crypto,  Maybe Bitcoins but there are still a lot of alt coins which are cheap to buy and you can still make profit from them with out spending huge amounts of money.

 ;D ;D

I don't think the whales need help from retail investors to dump the market. If they decide to dump the market and throw 500,000 Bitcoin onto the sell order book, that's definitely a high enough number of Bitcoins to get a crash going as we have seen it now.

I'm not sure whether it's for a meme, a motivational quotation, or something. This forces me to think the wealthy are stealing the spotlight on what crypto-currency is for. I got a call from a friend who wanted to start cryptocurrencies and she asked whether Elon Musk will make her rich, which sounds ridiculous, but that's what it is, as mentioned in the article & believe a smart crypto-currency consumer can disregard games coming from game chasing.

I think that it is not worth demonizing such investors, even though they own large resources, they are the same people as everyone else. Possessing great opportunities, they have the opportunity to more strongly influence the processes in the markets, this applies to any market where something is freely traded. Especially if these people are also public figures with influence on the masses, such as Elon Musk. It is natural that they play their games and it is difficult for us to understand them, but if you imagine that you yourself have such opportunities, do not be cunning, you would do something similar yourself.

Due to having power as well as resources, it seems like rich people have been able to take into theor hands how does things must work out depending on what they like because of their money. We can conclude that it is the reality happening wherein crypto is being manipulated in terms of price by those influential and having lots of money turning things to be favorable with them. But rich people are not the only one who manipulate the market because we also do as normal people whenever we tend to get along on the trend we are already supporting their movement for we think it is the right thing to be done specially for newbies. All investors as well as traders can also be a participant for the price movement and not just only those rich people.

"In hindsight, this is inevitable"-Elon Musk
Just as what he tweeted, wherever money is, you know the rich is bound to wallow on it and make it their breeding ground. Sadly the fact that bitcoin is accessible to everyone means it is also accessible to the 1% of the society. So when they hoard this stuff you know for sure we can't do much about it other than to follow their lead since they practically control the market now.

Probably whales don't need help to dump the market, you are right, but smaller investors participate the dump anyway and regret about it later when they see bitcoin price suddenly skyrocketing. So they blame the rich investors for manipulating the market and taking advantage of everyone else. Actually somehow they are right, so the best antidote is to keep holding, since we can't predict exactly when bitcoin will turn the tables.

Of course, rich people who already in crypto knows everything and they know that they can manipulate the market. Crypto is their playing grown and they play with all the investors, and traders but at the end of the play, still the rich man wins. Specially during the sudden dropped in bitcoin and altcoins price, rich man already there waiting for all the weak hands to dump their tokens.

With crypto still on the early stages, I will agree with what the OP has said that crypto has been a playground of the riches.
Is there anything that we can do about it?? None but to just rant on social media, saying bad things to them but in the end they have the power therefore they will do it at anytime they want to.

On the other hand even though we've seen market manipulators, FUD's and some people bashing crypto, the market is just going up and up and as more and more people are coming into crypto, there is lesser chance that the market will be manipulated at least.

We can say what we want to them. We can talk shit about Elon or any whales or manipulators out there but that is it. The rich will be richer and those below them? Well, they might stay on their current positions right now or they will become rich too but not enough to be a whale :D.

Cryptocurrency is a tool for wealthy people to make money. Chasing profit is the only belief of merchants, not Bitcoin's consensus. It is undeniable that Musk does sometimes control currency prices, but I don’t think this cat-and-mouse game will continue. Staged, the rise and fall of digital currencies, especially the current sluggish price, may be that the market is too hot and does not comply with economic laws. Junk coins, air coins, and various animal coins should leave the market.

There are indeed many wealthy businessmen in the Bitcoin field, and they do have a certain influence on the Bitcoin market. However, in my opinion, in this bitcoin market, only smart people will survive and they will be able to get the benefits they deserve.

In any field, wealthy businessmen always have a certain right to speak, they will have a huge impact on the market, and ordinary people like us will also be very concerned about their speech. We must enrich our blockchain knowledge, Don't become a loser in the market.

Since the world of cryptocurrency is open, anyone can buy it. The rich make money smartly through cryptocurrency. They are rich people and they have the ability to manipulate the market.

To a large extent, cryptocurrency is a playground for the rich. The resources they possess can control the price of cryptocurrency, and only a small number of people can make a small part of the money. Most people lose money in this game.

In my point of view, bitcoin is being more recognized by rich people and for me it is not so bad. We always hope that bitcoin will get more recognition by people around the world and I think little by little it keep going. Those rich people are usually have smart brain, they are just try their best to gain profit. I believe that they will not leave bitcoin, I think what they do is just a strategy to gain more profit. In my opinion bitcoin with it's deflation is the best cryptocurrency, this is my first priority for investment. You will not loss your money until you sell bitcoin at lower price, if someone don't understand about cut loss or opportunity selling then just hold Bitcoin is the best decision.

The Bitcoin market is not a playground for the rich. I admit that the rich have a great influence on the Bitcoin market, but the Bitcoin market also brings great benefits to ordinary people. Therefore, Bitcoin is a manifestation of our progress.

In any financial industry, it has to be admitted that the rich have far greater influence on the financial industry than ordinary people. Their assets can manipulate the rise and fall of the industry, and there is no difference in the bitcoin industry

Cryptocurrency is a game of the rich means that the rich can manipulate the price of cryptocurrency. In fact, not only Elon Musk, but also the CEOs of exchanges such as CZ have done this. However, 1BTC=1BTC, Bitcoin and blockchain technology will surely sweep the world, allowing investors to get off the car and evangelists to get on the car. Even if it really fails one day, I am willing to take all the bitcoins and return to zero together.

The rich have been able to master the theory, they have the power and resources, and investing in the crypto market makes them profitable.

The cryptocurrency space is a decentralized space where people can participate freely and invest as much as possible, and they are influencing society in a way that is beneficial to them.

At present, this is indeed the case, because many exchanges are still centralized, causing Musk’s tweets to become the market’s vane. The rich are having fun and constantly harvesting the wealth of retail investors. It is indeed disgusting, but it is also violating. The nature and laws of the blockchain, I don’t think it will be long, it will return

The games of the rich are also the dream paradise of the poor. They themselves always think that they can make money in this way. The fluke is always there, and a steady stream of speculators come in. They are not believers in Bitcoin. And value investors

For the users who have been into the cryptospace during the initial days of cryptocurrency existence have turned successful. Right now it has got turned to be the rich man's playground, pure example for the same is the Elon Musk. Now he's shattering the market and making money out of it.

We can say that crypto has been a rich man's playground where big money comes and all small investors money pulled off in profit by bulls. At present time there are many investors comes in cryptocurrencies field from arround the world so no one manipulate market as they like. In the end I like to say that rich man always has an effect on any share or crypto.

It is not a Richman playground but a foolish and losers choice.

Imagine investing in a market that they don't really understand?

and when they lose will Blame the cryptocurrency market< and that is not a right manner to treat things.

Rich will be rich and poor can become rich if will only study first before putting money.

crypto is a toy for the rich, and billionaires, in my opinion there are some too, but not all crypto, according to my research, they only play in bitcoin, because they already know the advantages of bitcoin, and they have made a lot of money. profit ,,

Maybe the poor need cryptocurrency more.

They already have the money to invest and make more profit out of it so what can we do about it, they have the advantage even though the race started a long time ago. I wouldn't say that it becomes the rich man's playground but I believe that any market will soon arrive at that point.

The expectation in the beginning was we need adoption and investors will flock in and that is what we are seeing and huge investors will look for profit and they do not care about the underlying technology or care about anything else, all they look for is to make a huge profit and that is what they are making in this market and there is nothing any one of us can do about it.

Elon Musk is not the sole reason for the market crashing there are several other institutional funds in the market and they will book their profit as well and since their investment is in the billions and if they are selling in the open market it will affect the valuation.

Bitcoin is a good investment direction for most people. Although some giant whales control a large amount of Bitcoin, in a sense, Bitcoin is more suitable for long-term investment, and many people make a lot of money from it. Therefore, don’t always say that it is only suitable for the rich to hold, ordinary people can’t hold it, and ordinary people can also get profits from it.

Bitcoin has been declared "dead" 414 times, most of which appeared before and after the 2018 crash. If you can't kill him, it will eventually make it stronger. The trend is irreversible. We have to choose to embrace it.Not a game for the rich, but also an opportunity for the poor to stand up

"rich man's playground" - why not "miners playground" ? They do control all the market. They stop mining and there will be no market. They set huge transaction price and the market would immediately react. Someone switches off one significant miner (like China's government) and there is already a panic. Other set high electricity price and every cryptocurrency owner will feel the results of it. Rich men are only pawn on the desk, they sure play a strategy role, but they dont control the game.

Unfortunately there are more and more bored rich people manipulating the market, they have infinite economic power and as of late they post a tweet and people fall for it like sheep.

We small players, meanwhile, can only be adept at taking advantage of these dynamics.

I don’t know for you guys, but I don’t even have time for Elon Musk and I don’t even follow him on any social media platform, not to talk of seeing his tweets. I don’t even want to convince myself that Elon is the one that caused the price of Bitcoin to crash, I am just going to believe that it was just the right time for the market to crash and that’s it and nothing more. It’s a normal thing we see after some years pass, a bull run that will push the market to a new ATH price and then later it will come crashing to another low price.

But, I do know for sure that there are billionaires like Elon who are always trying to mess up the market badly. It’s up to us as the people to stand against these and stop them ruining the market that we have struggled to build over the years and that’s it.

They are rich and they are one of the people who can manipulate the market, if they stop, that will not make the market stop as mining is money, there are still other small miners that will do the job for them. That's why the decentralization thing is very attractive to investors as the market is non-stop 24/7 in operation.

In the first place, we never see that Elon Musk had a bad plan in crypto, we think he will never mess up but unfortunately, it shows how greedy he is. I think we all are getting tricked with him, we supposed to believe and trust him as he was a promising person and higher personal credibility but it all just gone after he tries to fool us.

I'd never think that we can stop this thing, rich people will do anything for the sake that they will succeed. So what we gonna do is to prepare, nothing else.

for me, everything has 2 sides, negative and positive. The phenomenon where the rich man attracted to the crypto world means they thought that crypto will bring them a bunch of profits. They can attract more people to know and invest too. Proved, more people join the crowd and invest in crypto. Let's forget about how blockchain technology will bring the new future and bla bla bla, I think the main reason for them is money.  But, the negative side is the manipulation. Knowing that they have the power to move the mass, they playing with it like they're own it in their hands. Furthermore, apparently, these people who joined the crowd are only followers, they joined without trying to learn further and get wrecked at the end. Personally in Musk's case, I don't know why he chose to hype doge instead of Bitcoin. Probably because it's easier to manipulate, kidding.