Bitcoin Forum

Once again the market has been manipulated after the statement of Elon Musk "Tesla will Re-accept Bitcoin" and this way based on the volume of accumulation one day bitcoin network might go completely into the hands of centralized powers.

It needs to be allowed for its real growth. Quite often these guys manipulating the market looks like an asset that doesn't have its own value, but depends on someone's words.

zoom out your chart

...
when something is to provoke a market it takes time for people to deposit funds and the make a market order.
so if you are looking at a 1hour-1day chart and think you see a large movement.. zoom out to the month view and you will just see its another simple wave in the same range of the other waves this month
10%
5% +- of a $31k medium

its been 31-32k for most of the last 7 days with   a lil dip down to high 29k
.. but thats all within norm range for july

in short. elon has not made any impact. so calm down and stop looking at the smallest scale movement and think they are huge because they fill up the whole gape of an hourly market

This is really nothing new. I really dislike how much power Elon has over the markets, but good/bad news have always moved markets to a certain extent. Even a good bullish article from the likes of CNBC can move markets. And how is someone being able to move the price of a certain asset make Bitcoin lose it's importance?

Forgot about the influence of Elon Musk in bitcoin market. What do you mean by bitcoin network going into the hands of centralized powers?

Chinese government are choking the Chinese bitcoin miners, meaning they could move outside China or some other nations leading bitcoin mining, taking it out of the hands of the Chinese, so clearly bitcoin mining should be more spread out and there will be no more manipulation and centralization.


Of course, bitcoin is so resilient that it will and can grow naturally without outside influence or manipulation from whales. Retail investors > manipulators.

I tried to search the Elon musk tweet but I couldn't find it.

Does it seem that you heard them from blogs, news, or articles? They already publish that news last month but that news doesn't have a big impact on the market.

The market is trying to decline but there is strong support on $29k-$30k. My bad I set my stop limit on $30k and it triggered and sold
I lost 8%-10% just now I thought that it won't bounce back. I look at the 1-month chart it's pretty stable playing at $29k to $35k just like what franky1 said above.

The statement was pretty much Elon Musk saying that Tesla will re-accept bitcoin for payments when mining reaches 50% renewables, which is pretty much old news by now and just restated by Elon hours ago on The ₿ Word[1] livestream.

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[1] https://www.youtube.com/watch?v=Zwx_7XAJ3p0

Musk meant that he would consider accepting Bitcoin payments again. His words are now red, skyrocketing, time after time, the market price is obviously affected again. He has said that Bitcoin's high transaction fees, low transaction volume and Bitcoin are not good for the environment. I don't understand how the media only report the good things he said, but not these. He still likes fast Dogecoin.

Well, we have to take everything with a grain of salt. He has been spewing negative statements against Bitcoin specially this whole 'renewable and green" argument of his. On the other hand, we can read between the lines, his company is selling solar panels, so called to produce clean energy.

So is he really fighting for green energy bitcoin? or just wanted to promote his products? You'll be the judge.

The "pumps" happened WELL before Elon even went live at the conference. Him saying that had NO effect on the market. Do not kid yourselves.

Hashrate is an important security guarantee, it can keep your money there safely for 100 and more years.

What in the world are you talking about? Bitcoin market is behaving exactly the same way as it has been behaving for the past 2+ months and price is also pretty much in the same tight range as it has been all this time.
Unless it goes above major resistance or fall below major support you can't say a random meaningless statement by an internet troll is affecting the market!

But I feel that the impact of certain personalities or good/bad news decreased a lot over the last five years. Apart from the impact Elon Musk had, which was obviously quite severe, the market reacted to news much more in the past than it does today. Think about the impact when China announced a ban for the very first time, the impact was quite significant. Now there is still an impact, but not anywhere near to what it used to be. Maybe I recall that incorrectly, but I think news became less impactful over time.

The Bitcoin price is moving in a -/+5% window(which is totally normal) and you are talking about price manipulation?Are you kidding me?
I don't know about any recent statements made by Elon Musk,but the Bitcoin price didn't react to these statements,which is a good sign.
Decentralization of Bitcoin has nothing to do with the distribution of Bitcoins around the globe.
The price of every financial asset can be influenced by "someone's words".What about stocks or currencies?
We can't stop the crypto whales from buying as many Bitcoins they want.

It's becoming really true. Elon tied to green energy and then mining Bitcoin will be regulated by governments and then stablecoins also cracked down and then FED will introduce the CBDC coin they have to replace these stablecoins. Is been manifested already in El Salvador, although many of us will think it's adoption but on the other side, it's also achieving the control of the people there.

The only way we can stop this manipulation is by stopping from giving Musk attention at all. If it's someone's fault, it's ours. Markets don't move by themselves, people are just silly and buy or sell based off random tweets.. which is crazy but it's the era we're living in, lol.

This is how Bitcoin grows after all. Billionaires will never cease to manipulate markets because this is how they take advantage of the poor, and when you know you're gomna lower or bump prices by simply sending a tweet, it's hard not to use that to profit off the lower classes of the society.

Bitcoin is losing it value and importance to the hands of influencer like Elon Musk trying all possible best to control the activities of bitcoin using diverse ways to influence it price to their own direction without minding the risk that might be faced by micro investors with small amount of Bitcoin. It looks as if Bitcoin is being hijacked by Billionaire who are only interested in moving the market to their favorable direction.

The entire Bitcoin market has many forces that it pulling it in opposite direction, it takes greater force to move  the direction of Bitcoin to a certain level before being opposed by another force of either buying or selling it. The government had been looking for avenue to regulate Bitcoin market using the word ADOPTION to decieve traders of their love for Bitcoin while others will still continuing opposing it like the game of thrones. If eventually these influencers hijack Bitcoin, it will really have much effect on micro traders with limited funds.

I do not share the OP's pessimistic view at all. I think that with Bitcoin it happens like in the stock market. A certain tweet from a famous person or other events can make the price go up or down in the short term but if the fundamentals are good, the long term trend is always up, regardless of short term volatility.
Bitcoin will first reach $100K and then $1M. When exactly I don't know, but to reach those goals it won't matter what Musk says.

What matters is the decentralized, autonomous and supply-limited nature of Bitcoin. That's what makes it important and not what Musk says or doesn't say.

if we always believe in Elon Musk's tweets and always believe in the posts of the rich, with their negative posts, saying bitcoin lost its importance, we will always fall, and we will be weak, and we are forever under their control, whenever there is a negative post from certain people the market price starts to become unstable, and those of us who have weak hands start to waver, even though all of that is just their move to scare us, kuta leave bitcoin and rich people come to take profits, we have to learn from last year, don't fall into the same hole

we should not have to follow their every post, because I am very sure behind their posts there must be a certain purpose, they want to play in market prices, they are all the time, even every second they always monitor market prices, they will do everything possible to scare weak hands, their goal is only to make profit, if we always believe in their tweets, our lives will never change..

I agree with you that the Bitcoin market will not be controlled by Musk. If the bitcoin market price is affected by some announcements, it will become very fragile, but observing the market trend is not the case. The long-term bitcoin is rising and will become stronger and stronger.

"Bitcoin losing its importance"


Because it's declining in value or because its price is affected so easily by opinion?
Neither of those things can change the "importance" of bitcoin, its an extraordinary invention.
Blockchain is here to stay and people will continue to find expanded uses for it.

Major financial institutions and governments are copycatting the idea to create their own cryptocurrencies.
Everything that happens now is just a live experiment.

I'd venture to say that bitcoin has a permanent spot in history.

It was always inevitable. Now bitcoin acts more like Tesla&Twitter coin because these companies starting to act like they "own" the thing. It is not very obvious yet but it will happen. And then, like almost all the other big companies, they will come up with their own shitcoin because they will find some stuff that they don't like with bitcoin... it could be anything.

Contrary to you, I think that we should follow it, because these people can make trends and people that make trends should be followed because you know that they will be able to make waves that you can use to your advantage. No matter what your opinion is about the market and how you hate these trend makers, it doesn't matter because the public opinion will win no matter what.

I think that going from one tweet of one rich guy to Bitcoin network being completely centralized is very far-fetched. Some temporary manipulations by guys like Musk are indeed possible, but they don't lead to Bitcoin's centralization. Even if companies like Tesla invest in Bitcoin, they are all private businesses with their own interests, so it's not like they'll all act in accord with one another. Moreover, there are already dozens of millions (literally) of Bitcoin users which are individual people who don't consolidate to manipulate the market and usually don't even personally know each other. If institutional investors make a move on Bitcoin, trying to gain control over the market, the price will skyrocket, making it increasingly harder for them to reach their goal. So I think Bitcoin is doing okay, and Musk isn't a threat to its prosperity.

they dont care with the real value of the coin but whats important for them is they can manipulate it but we cant let that happen btc .
that is why we continue to hold and buy on our own without the need of listening to what ever those manipulators are saying because they will only get the most benefit at the end .
 for us true btc users btc does not loose its importance but its importance only keeps getting stronger .

Seriously. For whomever actually believes Bitcoin has lost its importance, or if there is actually another similar class asset of equal or more importance... If you don't like Bitcoin, then don't use it. There are literally thousands of other shitcoins out there to put your future on. You may never even get to experience the inferior security, usability, adoption, since you're probably not even a crypto user.

Bitcoin is an investment asset and buyers will be influenced by the words of those who have influence...

There are still many out there who are hesitant to buy Bitcoin because they don't have a role model and many of them look to those who have great influence as their role models. when Elon says positive things about Bitcoin then his fans will automatically be optimistic about Bitcoin and buy it, what a strange behavior for me :D

It is not necessarily a strange behavior. I think in one way or another we all have our role models that we trust in certain areas. We have our areas of expertise and we definitely know people listening to us as well. The circles we have influence on as individuals maybe smaller than those Elon has influence on, but we all look for someone with credibility to include that someone's opinion in our decision making process. I think that's normal because there are simply people who know more than us in certain areas, and if those people put their reputation on the line by talking publicly, it feels even more secure to follow their advice.

Well, the prices increase depending on supply and demand, and people like Elon can manipulate those system by buying a lot of bitcoin to cut short the supply and hyping it up making the demand go higher. Bitcoin isn't losing it's importance, it's just that we are on a decentralized platforn that it's possible for them to do this without implications and we are happy that they do it too especially when the prices are going wild.

First of all, we must understand what is the importance of Bitcoin? Global resource allocation and extremely low transaction costs. Bitcoin is still a decentralized currency, with the characteristics of anonymity, non-copyability and high security. Therefore, the price fluctuation of Bitcoin is not a manifestation of the value of Bitcoin. Price is not equal to value. If Musk's stupid approach is considered that Bitcoin has lost its importance, this statement is not valid, and the value of Bitcoin will not be changed by one person.

What does the author of Bitcoin mean as a means of payment?
If bitcoin is used as a means of payment I think this is still being done although at the moment it has not received approval by the world. If the author refers to the stable value of Bitcoin it will not be possible because it is decentralized. So I think it's still bitcoin with its original purpose. Maybe because the value fluctuates so many famous people take advantage of the moment to lead the opinion of the world to direct the bitcoin movement. I think this is an unavoidable spice of the development of the crypto world, and it should be there. So this has been a moment that is often used by traders to seek profit, including me.

yes I think you are right ,BTC has a pretty big influence on the voices of some people and it many times depends on what Elon Musk says . they see BTC as a toy and they want to give up is to give up want to come back is to come back. BTC becomes the toy of the rich, gradually losing its value.

Just because Elon has said favorably something about bitcoin again that Tesla might reconsider accepting bitcoin again, bitcoin isn't losing its importance. Actually, it's his right whether he say something positive or bad against bitcoin.

We just don't like him anymore based from what he has said. But I've realized that any company is free to express their acceptance or not towards bitcoin payments.

It is a free market and everyone has the right to express his/her opinions about any subject. The issue is that the majority of people place more importance on the words of successful personalities. That's normal, but in the markets, following other people's opinions is close to economic suicide. Proper financial education is the solution.

I don't think other professional investors follow Musk's mood swings and "manipulation". I think the casualties are mostly the retail traders as always.

Expertise users have given clear description on the market scenario. Particularly it is clearly stated about the growth that has begun even before the conversation from Elon Musk. I agree on it, but is there anyone to say the ongoing growth hasn't got a small influence from Elon Musk conversation.

I believe it has got influenced by the statement. The positive impact is really enjoyable, but if he had given a negative thought about bitcoin will we be seeing the market to be bullish at present ???

It is true everyone got a freedom to express their thoughts, and when someone's thoughts are making wild disturbance it means the particular asset is under his/her control to certain extent. This is the only reason Why I mentioned bitcoin losing its importance. From expertise view it is different and my way of thinking has differed from by them in some way.

I don't think that Bitcoin losing its importance. Crypto currency price can increase and decrease in any time. This is a normal attitude of crypto currency. Decreasing some price of Bitcoin can't show or prove that Bitcoin losing its importance. Bitcoin always a potential and popular coin and it will be in future.

The same person that criticized Bitcoin before was now trying to induce people to accept the use of Bitcoin. Elon Must would I say is real man that gat the swag. I think it's now he is seeing the need to embrace the use of Bitcoin compared to what he had say earlier on about how Bitcoin is affecting the world green house gases, increasing the risks of people getting sick. The market has been influenced by people, big firms inducing tension and trying to make the market go their own direction.

This is a free market and its just normal that people do come out and go.Something manipulative?Yeah its a common one and better get used to it and act accordingly for your advantage.

Those news and sentiments are just common but doesnt mean that it is actually losing its importance. Decentralization is still there,they might able to manipulate on prices but

not on the full  scale considering that the supply isnt really just focused on them but somehow they could really make out some FUD.

Bitcoin losing its importance and values gradually, letting billionaire's control the flow and movement of bitcoin rising and decreasing, its aweful to see such... gradually the cryptocurrency market will lose interest in bitcoin if such actions are not been controlled by themselves.
I hope for the growth of bitcoin and cryptocurrency market, a whole lot haven't gotten to benefit from it, I'm looking forward for the improvement of importance and values.

At first I thought it was some kind of coincidence that whenever Elon Musk say something about bitcoin, the price eventually affected. But once again, why does it keeps on affecting everytime he said or tweet something?  This manipulation is kinda obvious, thus those followers were certainly believe that guy  no matter what he'll said.

For that importance of bitcoin, it wasnt fading or losing. The essense of being a cryptocurrency still use, that digital transactions are of great use especially this pandemic season.

I complained the same thing sometime ago. It is quite sad to see that part of a decentralized currency can be affected by centralized factors. Sadly, there is nothing that can be done about it. As far as an influencer of a big name (like Elon Musk) is involved, the market can be affected. But I don't think this generally makes Bitcoin lose its importance. People can also affect the price, not the decentralization part of Bitcoin.

From majority of the posts in response to the thread statement I find the meaning Bitcoin isn't losing its importance by the influencers. These influencers has got the ability to make variations in the market, but the same doesn't cause anything in its importance. The importance of bitcoin is much associated with the usage and the real-time application. These influencers can't make anything on the usage and real-time application of bitcoin, agreed on the fact.

I think the Musk effect is mostly gone now anyway. Of course when he first showed up and showed his sympathy with Bitcoin, then also announced the fact that Tesla is going to accept Bitcoin, all that had an impact, but it wouldn't have the same impact now if he repeated that in any way. Amazon rumors do have an impact and I can understand that. If the largest e-commerce platform on planet earth accepts Bitcoin, that's awesome and does have an influence on Bitcoin's viability and hence the price.

Influencers have influence and that is all they have. And to be fair,,, they deserve what they have, and the people they influence deserve what they get. But influencers cannot sustain and cannot last, especially if they do things to preserve self gain, eventually their followers get wise and stop getting influenced.

This is what I love about Bitcoin. No influencers. Only temporary fadsters.

This is not new, whenever the market is on the verge of rally it reacts to news like this especially when it is looking for a direction and now we hear some positive news and the market started rallying and there will be a time when we hear something negative and the market starts to fall and it is like that from the beginning, earlier it was news updates from China and now it is these major social media influencers.

I think it's all temporary, people are used to listening and buying , at first Elon Musk manipulated bitcoin and other cryptocurrencies well, but time passed and people realized that nothing good came of it and now Elon Musk's dependence on the cryptocurrency market is less and less.

It has the influence from these known people but the importance of bitcoin isn't depending on them, their words or any of their curse to the market.

Well, we have different point of view on this matter and the only thing that we can agree upon is that the influence that these people are giving to bitcoin is undeniable. But I hope that someday that it will come and there won't be any of its dependency from their words anymore.

it is clear that the market has been manipulated it happened several times when Elon musk made positive and negative statements the market suddenly changed this shows someone who has great influence will be able to make the price of bitcoin go down or up anytime he does can make the market deteriorate suddenly and then it can go up again this happens in a short time I think this is a manipulate that is done for quick profits indeed anything can happen but now the market has changed a lot since Elon Musk came.

I almost believed that a single person can move the market, but now my perspective have changed. I thought his words really does have impact but when I see it on a different and much brighter side, it really is just a small wave and nothing much  to worry about.

Bitcoin importance is not lost, in fact it is still gaining popularity OP, the whole crypto market is based mostly on the founder, the source and origin and every time a project is created, there is still a part of Bitcoin that moved or inspired it somehow and it will not be lost until someone uses it's source code.

although it left a bad experience about Elon, but at least he has exploded bitcoin so that many people learn bitcoin and know cryptocurrency. especially in the mass media a lot of news that makes people know him. but on the bad side, Elon sells his bitcoins when people are partying, until finally his influence is reduced

As long as crypto market esixts, Bitcoin will never lose its importance.
Forgot about the influence of Elon Musk in bitcoin market, there're always people or institutions getting in the way because they want to take profit from this. But the essence of Bitcoin remain unchanged.

I think when he first started talking about it, the market really experienced a big move forward as he is someone the world listens to. He is a high tech guy, the richest on our planet when it comes to technology. If someone like him says something positive, it does have an impact, but over time people get used to it. So if he keeps talking about it nonstop or tweeting, and he even opposes his own position he had a week ago, the impact of his words diminishes rapidly. That is what we are seeing now when it comes to Musk.

Talking about Elon Musk's influence, he is indeed very influential on price increases that are able to reach new ATH. Elon is indeed full of controversy in every tweet he makes. But bitcoin will never lose its importance, it will never lose its main purpose and function. Market manipulation and speculation can happen to any coin not just bitcoin, it is very common. Bitcoin is not centralized and not regulated by anyone, Bitcoin of the community and for the community.

Well I really don't agree with you on this one, Elon Musk statement didn't pull out any big move on the market, so I can possibly say it's Elon Musk who has lost his tweets Power, back in the times where prices where booming people did believe in him because once he makes a tweet it kinds of reflect a bit in the market this is because people trusted his words and follows what ever he say but now that doesn't work any longer so you shouldn't panic.

unfortunately we have to know how to admit that the guy was responsible for yet another price increase when he spoke at this conference a few days ago, remember that he was responsible for the big price increase and then the big price drop and now he's back to to say that it didn't sell bitcoin and the price went back to above $39,000, elon's declarations brought more security to people


this time he didn't twitter, he spoke in the live they did a few days ago

And this type of post just help to confirm that btc is not perfect and can not be perfect as long as such manipulation exist,  a currency should be free of such manipulation and influence, but till now few people have such power to influence the market greatly,  many people still base their decision heavily on this few influential individuals, and this is why it seems btc is losing its importance because of this few individuals who have control over the entire crypto market, if this is a decentralize space then it should not feel like a centralize place where some few individuals are in control of the system.

But the volume of accumulation has nothing to do with its decentralization. It feels weird to reply to a 22nd July post, but Elon didn't achieve anything by that tweet; he can surely manipulate the market with his multi-billionaire company, but that has zero effect upon its decentralization.

Generally, Bitcoin is decentralized, not because it has a $740B market cap. It's the hash rate that keeps the validation distributed to each miner. You're almost correct, it's just this last phrase that ruins your text.

It is highly fluctuating. Anything more than that characterization is an exaggeration.

Indirectly btc is somehow concentrated in the hands of centralized body, most of the big players putting huge funds into it have the power to control, imagine what happened when Elon announced Tesla sold 10% of its btc holding,  imagine again the little scenario with Greyscale, even if their intentions are not for control but since they have huge funds invest and known to the crypto community, any move they make is a threat to the growth of the market, hence, in a way btc is already in the hands of centralized power.

I think nowadays is not really different with what happened in past when "china accept bitcoin", then price pumped and then "china ban bitcoin, or maybe big countries ban bitcoin" then price will really fast to get dumped. Can't resist market is really affected by something like that like news that come or maybe influencer who talk about it, if me maybe i will just accept that fact, or maybe if i can, i take it as opportunity to made profit.

Thats just how the world of investing works , I think its the strategy that elon use to to manipulate the market cause its definetly easy to manipulate and he just trying to get a good entry for big profit. You can see it oftenly when the market is down, people trying to put gasoline into the fire to make it more down and when it goes up they just trying to make it higher and higher by praising it.

Because BTC has become the best assets this year, out phasing stocks or even golds as far as growth is concern. So if you are a serious investors or just average joe looking for you and your families future. Then bitcoin is the go to investments. Although is has a wild ride this year getting in a new all time high then subsequent fluctuations resulting to a massive decline, still you can make money out of it in the long run. Just look at the future and maybe we can see bitcoin getting in the 6 digits pattern at the end of this year.

The fact that Bitcoin markets are being manipulated is a concern. But it is also true that his (Elon's) manipulatory tactics failed in the long run. The prices collapsed by almost 50% from the ATH levels (although this was not entirely due to the stance from Elon), but Bitcoin has showed remarkable resilience in making a comeback. Now once again, the exchange rates are close to $40,000. Personally, I would refrain from using the exchange rate as a parameter to measure the popularity of Bitcoin. Let's stick with the basic parameters, such as user base and daily trade volumes.

How can we achieve this “allowed”.  In fact, the market base surrounded by volatility, is still the driving force of perception and equality.  Are you just naming Tesla/Elon, Grayscale, MicroStrategy...?  I don't think so, more than 10 years bitcoin has not received more from the law, it is the above factors that are creating the frictional forces.  Bitcoin has a long way to go to full reality, they have turned speculation into a store of value.  Of course, I think there are downsides to any problem.  Accepting it or not is the format that may or may not be appropriate.

It is difficult to manipulate the value of Bitcoin, but it is still happening. I think the reason for the fall in the price of Bitcoin was manipulation so that they could buy it cheaply and sell it again at a higher price.

however, at least I'm not much worried. because I hold Bitcoin for the long term and such small pump dumps are nothing to me.

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Exactly, the popularity of bitcoin is increasing, al's Its use is increasing day by day. Which is a good thing.

I think many people have been associating the 'fall of bitcoin' to its price on the market. Though I do understand that it is the main indicator, many still have been taking for granted its actual use- removing third-party intermediaries.

The blockchain technology will be the key in the future of transactions. As long as BTC remains relevant in the years to come (which I truly believe so), then we can expect a shift to digital transactions in the far future.

on what basis do you say bitcoin lost its importance,,?? we all know bitcoin is never controlled by anyone, and the price of bitcoin falling is also not affected by the negative posts of bitcoin haters, because from the beginning of the emergence of bitcoin there have been those who hate and post negative things about bitcoin, but the proof is that the price of bitcoin until now can still said to be high in the market,, I totally disagree if anyone says bitcoin has lost its importance..

If bitcoin eventually gets to the hands of the centralized government it will loss it's transperancy and automatically it would become a private source no longer open source and a more deceptive manipulation would set in from government authority even altering the anonymous nature of bitcoin which might even make it decline more

common practices of those big whales who understand how the market works and how they can easily move

those people who are trying to ride with them, once the market is down more money being thrown to put it

to much deeper value, then when known personalities start to call and praise it then expect the next move

to favor the market back.

And how do you think would that happen? How is a government going to get its hands on Bitcoin other than buying it or starting mining operations that are so huge that they control the majority of the network? That is not going to happen. Governments can only try to indirectly stop Bitcoin. I am not sure what exactly OP is referring to and whether he is talking about Bitcoin's decreasing dominance in market capitalization, but we have seen that happening in the past and at some point Bitcoin bounced back. That might happen again as Bitcoin is on the rise again.

people who are very influential and very easy to turn things around in the crypto world.. let's wait and see what will happen with Elon's previous steps with the doge of many people who are starting to be stunned by that move..

correct and that's why they can always manipulate the market without doing anything wherein just few a words and thoughts through social media they can easily make investors and traders going crazy especially weak hands..
Actually for me if we will learn the leason from what they all have done with bitcoin and doge perhaps they can't make manipulation again like what happened previously that seems the most worst situation of the market.. What i mean yes they can give impact in the market but they cannot make the situation worse when they dumped if all of us also will gonna keep hodling to protect the market from manipulation..probably it's possible right?

You are talking about linkages between corporations and celebrities that are creating an increasingly high profile based on the impact of the community.  I'm not sure but if there is a chance they can do so to make a big gap, bitcoin is still decentralized, only its owner wants to reform its net worth.  I think bitcoin will still be sustained by the sustainability without the celebrity structure (Michel Saylor, Elon Musk...) of the market.

Bitcoin needed to have good news in those days to stimulate the market. I remember that at that time the bitcoin mining businesses were receiving a negative bombardment from China in relation to their exit.
The price of bitcoin fell due to the migratory process of the miners.

A bit to change the gloomy atmosphere that was drawing and not to lose confidence towards bitcoin I think that the conference organized by Jack and others was timely for Elon Musk to talk about his position in relation to Tesla and his bitcoin investment, it is not because nothing but Tesla being the second company to own 43,200 bitcoin.

In my opinion, the virtual conference The B Word was key to change the course of things in bitcoin and what was gained was the confidence of investors to continue advancing in implementing the technology.

https://twitter.com/Coin98Analytics/status/1419930894823944195?s=19 (https://twitter.com/Coin98Analytics/status/1419930894823944195?s=19)

Elon Musk's strategy of moving the market is very strong. I wonder why the crypto market is so affected by Elon Musk. Actually this has a positive and negative side to Elon Musk's chatter. but I think it has created a mass panic in crypto

Rather than panic, now he's the trend setter of the crypto network. Because more people have started to follow Elon Musk. Earlier it was only the traders who have an eye over his statements. Based on what he does will be the market changes, and they try to make some good profit through it. Now common people wait to buy at the dip which happens based on his reactions.

Elon Musk has over 50 million followers on his account on twitter more than 20,000. Of those people are millionaires. They are directly influenced with what he tweets, posts or even say. That's the ideology of the bad influence he has on the market. I believe most people have started to ignore his shallow way of fudding on the market.

I used to have doubts about the works of Elon musk on Bitcoin, I still have some little doubts down there somewhere but all the happenings after Elon musk's statement or Tesla actions on Bitcoin is no longer a joke, it's dangerous to have a future about bitcoin in the hands of billionaires and business men, regardless I don't think Bitcoin importance is at stake, but the fact that greedy and selfish interested people can control the bitcoin market.

Yah right. In recent days, Bitcoin growth is manipulated by many aspects, especially, with tweets of Musk. I feel, after Musk's tweets about crypto, we can observe large number of investors have stepped into crypto. And his tweets, enlarged bitcoin awareness among people. Bitcoin growth had always remind manipulated by one or the other stuffs like news and whales. Bitcoin is closely watched my all now a days. Its really the one we expected.

I fully agree that Bitcoin shouldn't be at any kind of I influence of people like Musk, however sometimes that is inevitable. On the other hand their interest for Bitcoin is temporary and only if they see some profit or promotion for themselves but that usually doesn't last for long and it's pure manipulation.
Anyway, I don't think that diminish the importance of Bitcoin and on long term it will only become bigger and more influential.

For now we are all rejoicing to see price go up but this is going to backfire on us like it did with the mining and its negativeenvironmental impact in some areas.

In the build up of bitcoins price, it seems these guys always have a hand in its performance and there is nothing we can do as cryptocurrencies aren't regulated.
But in the long run this has to stop, we need btc to prove itself that it can grow on its on without one man's influence.

I believe you shouldn't worry about bitcoin losing importance because it will still hit much higher prices. Billionaires are trying to manipulate the market because they know how strong bitcoin is, especially on long run, so sometimes they have to lead people to lose interest for it, what causes a drop in prices, giving themselves the opportunity to buy cheaper coins and pump the market again in the next moment.
The strategy these guys use is to make common investors lose interest for bitcoin, so they accumulate more coins and consequently have more influence in crypto universe on long run. That is why many people here advice others to not sell their coins, to not be weak hands.

I don't think Bitcoin is losing it importance, it have been there since 2009, and it known to be the king of Cryptocurrencies. Some people actually wanted to control the price of bitcoin, but it seems impossible, because Bitcoin is decentralized. It can't be controlled by anyone. Bitcoin indeed have a bright future, and investing in it would be a great decision.
I agree with you. With time, the words of these men won't have a single effect on the price of bitcoin. Bitcoin have proved itself to be a strong cryptocurrency. Despite  the fall in price and the negative words been spoken about Bitcoin. Bitcoin is still strong. I believe the price will soon rise very high.

Like how? Is it because its price that you saw in the market is not that high compared these past few months?

Be patient my friend, bitcoin is always important for those who invest and studied it. There are things that needs time so that it can fully recover and retain its price.

Bitcoin is not like what you think that have a stable upward movement in its price because cryptocurrency doesn't work that way.

The decline in the price of bitcoin is also due to accumulation and some speculation and negative rumors circulating. Bitcoin continues to thrive. To reach the highest price, a price correction is needed. New ATH will still be achieved by Bitcoin. Bitcoin is the king of cryptocurrencies to date. Bitcoin continues to have importance for many, for many in the crypto community. The main benchmark for altcoins is still Bitcoin.

it is true, just a tweet for Elon Musk affects the price of bitcoin which also leads to affecting almost all the crypto market, but i don't think it will get to a point where they fully control it, some small ups and downs like this just happen because of people trying to make some profit out of his statements, we didn't see a really big affect on it, but maybe after some time it could go "into the hands of centralized powers" as you said which is really concerning.

The need for power, greed and control would in some years to come cause Bitcoin and other cryptocurrencies to become "centralized" if not entirely but partially. Definitely. Personally I don't believe in Elon's / Tesla's power to wholly manipulate Bitcoin's price as other factors are present. On the other Bitcoin isn't losing it value, it's rather just getting started. According to an article on statista, "The number of Bitcoins processed on a single day reached its highest value at the beginning of 2021, as more people displayed interest in the cryptocurrency." Numbers don't lie

https://www.statista.com/statistics/730806/daily-number-of-bitcoin-transactions/

As far as Bitcoin is concerned the wealthy and rich individuals will continue to influence, control and manipulate it price I am not surprise with Elon Musk sudden positive remarks on Tests reaccepting Bitcoin he is trying to test his influence on the price and truly the price responded and turn bullish thus disrupting the decentralized feature of the coin unfortunately the manipulative influence of wealthy individuals like Elon Musk on the price of Bitcoin is becoming very obvious and indirectly swinging it to a centralized property, of course nothing can be done to reduce their influence.

It is right that Bitcoin market has some what affected by the words of Elon Musk. This situation may temporarily break the discipline of the bitcoin market but I think it can't decrease the importance of Bitcoin. Now the question is manipulation. Who is responsible for manipulation? I say, the investors are mostly responsible. The investors should be more practical and should have proper knowledge about market. Why the investors sell and buy depending on the words of Elon Musk. They should act on the basis of the market, not on the words of Elon Musk.

Not all rich people have the influence in the market, Elon Musk is somewhat different from others knowing that he was been in a known and growing business that makes him very popular. He can really manipulate the minds of innocent people as they never know what really is the intention of EM. It really finds to be disappointing how that it happens but they have the freedom and rights also, so they are free to do that. But for those who know the hidden agenda of EM, manipulations won't work. Unfortunately, still, a lot of people think about instant returns and they will also think that Elon could help them and so they will follow what he says.

We've been through the market year after year and are used to watching market manipulation by big whales, we've been strong with bear markets because eventually the big whales want the market to go up and they will continue to push the market in a bullish market.

I bet OP feels stupid himself now while BTC regains it's position.

Some of influencers words impacts the price of Bitcoin. This situation is breaking the decipline of Bitcoin. There is no manipulation in Bitcoin company. I have little doubts about Elon musk's statement and Tesla action is not a joke. It is peril for future of Bitcoin.

It is not only the influence of those big people on why bitcoin is starting to lose its importance. It is also because of how people view bitcoin nowadays. They are doing their investment wrong most of the time and they rely on the views of people like Elon Musk. It has been a long while already ever since Elon entered crypto and made a huge impact in it nevertheless, all of this should already be over as we get to understand what he is trying to do and how selfish he really is. Make your own speculation, listen to crypto experts, not on billionaires that are planning to make bitcoin centralized.

For them to be able to manipulate will take a lot of people listening to their words. And moreover a lot of people are already stopped like Elon Musk for what he did before, so they stopped following him and listening to whatever he has to say. Although I know for sure that there are still people who follow every word he says, and those people will always make a move based on whatever he has to say.

What these influencers do is to manipulate people in their favor, they look for one thing and say and it either puts people into fear to start selling or greed to start buying. Though I wouldn’t say that the last move was because of what Elon has said. Sometimes we are the ones that are always attaching price movements to whatever actions these people take and making it seem like they are the ones behind every move.

Elon Musk's announcement in the second phase of Tesla's acceptance of Bitcoin has not diminished but increased Bitcoin's acceptance.We think that in the distant future, different countries of the world will recognize Bitcoin as the acceptable currency of that country. Then the approval and acceptability of Bitcoin will be equally appreciated by all.

Elon Musk tweets that tesla will not accept the Bitcoin. Bitcoin losing its importance as a result of Elon Musk's market moving tweets on environmental issues. After that as a result of concerns over the cryptocurrency's usage in the colonial pipeline ransomware attack.   

Elon Musk might be trying to centralize Bitcoin but it is impossible and would be a waste of effort. Bitcoin has not lost its importance this was a reaction to the price dipping after the Elon announcement but since we have seen Bitcoin regaining its value. How has it lost its importance? Bitcoin is still providing a way for people to become their own bank and decentralize their money Bitcoin never stopped doing that and is not losing its importance. 

Elon Musk lost some of his importance because a lot of people are now seeing that he tried to manipulate Bitcoin and Bitcoin has started to recover after the dump that happened after his episode.

I'm not sure that bitcoin's current performance is positive and up more than 5% because of the announcements of Elon Musk and Tesla accepting bitcoin, what's happening now is certainly a normal thing for bitcoin, especially since it's near the end of the year where the trend for bitcoin usage is usually increasing.

You're a bit delusional about it OP, it's quite the opposite, it's becoming more important than ever, people are looking for it and trying to accumulate it because they know the capability of bitcoin and how it's a really good way to invest in the market and testimonies from different people who made fortunes out of bitcoin are too many for the other people to just ignore it.

Bitcoin is never losing its importance. Bitcoin's popularity is slowly increasing. We can see that Bitcoin is now very well known and popular all over the world.Bitcoin is widely used around the world. As the day goes on normal The importance of Bitcoin will increase a lot all over the world. So I'm saying that the importance of Bitcoin has increased a lot now and will increase as the days go by.