What We Should Learn From Elon Musk Influence

[hatshepsut93]

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

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

[just_Alice]

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

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

[Lordhermes]

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

[Inkdatar]

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

[FlightyPouch]

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

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

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

[heyhat]

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

[Sithara007]

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

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

[xSkylarx]

Influencer people are trusting to them and they can manipulate market because they are very famous which is their advatanges.
Those business who are failed they can turn into successful and that is reality happening right now in our world once you are rich and famous people it is your advatanges and you can manipulate the people and what ever they say they follow it.

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

[RealMalatesta]

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

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

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

[oHnK]

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

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

[enhu]

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

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

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

[bekti3]

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

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

[oHnK]

this is why doge is a perfect toy for these whales.
He made himself popular in every market from stock market to crypto market, he definitely have a huge follower that he consider to run for president.

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

[Cling18]

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

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

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

[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?

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

[ashmodeus]

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

[blckhawk]

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

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

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

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

[ice098]

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

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

[pinggoki]

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

[oHnK]

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

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