What We Should Learn From Elon Musk Influence

[Ridwan Fauzi]

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

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

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[Gyfts]

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

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

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

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

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

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

[jostorres]

    It ain't just fame at all. You also need to be credible enough, and has shown a lot of good business decisions that led you to unimaginable heights of success. If you achieve this, then you probably would have such influence also on the markets even when you're just joking or making fun of some things. Even with just memes you can move numbers on the market. That's just it works. That's why elon musk has lots of influence.

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

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

[franco123]

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

[10_sjdovn_10]

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

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

[magneto]

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

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

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

[jrrsparkles]

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

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

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

[Webetcoins]

Elon’s Mask experience taught me that a lot of meme's can do a great disservice. Just remember, when Elon Mask made his first announcements about Doges that made an incredible furor among his fans and price on this crypto in moments started surging to the moon. Now, he everyday advertises Doges in Twitter, Instagram, buy them to his little son, posted meme's about "Doges are money of the Mars" and so on but nothing more happens. People got fed up of meme's.

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

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

[whyrqa]

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

[mezzaluna]

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

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

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

[ven7net]

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

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

Here are some of his tweets.

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

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

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

[carlfebz2]

snip

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

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

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

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

[adzino]

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

[virasisog]

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

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

Here are some of his tweets.

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

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

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

[Noctis Connor]

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

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

[Ozero]

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

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

[In the silence]

-snip

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

[Quidat]

-snip

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

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

[Sithara007]

If indeed we are interested in following Elon Musk to buy altcoins. make sure you buy when the tweet has been created. You must be able to buy quickly. because it can be ensured that if we are late and join in buying, we will be trapped in conditions of already high prices. actually for those who like this kind of trade with a high risk they like the elon musk figure to be able to pump with a strong influence which can make prices rise or fall quickly

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

[Kittygalore]

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