Elon Musk adds #Bitcoin to his Twitter bio

[anthraxdk]

This will probably bring a big pump and dump, I believe in long term BTC and not in such moves.

Agreed.

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[FlightyPouch]

Is this triggering the price increase that is happening right now? It is not the same price increase as past week's but the price after that seems to be staying at $32K which go down at $30K. I thought it will be touching down again at $20K but checking it again, it is now at $36K and might even reach $40K tomorrow. This man is really influential.

[$crypto$]

It was surprising to me such as a huge pump within an hour. But later on, notice most likely Elon Musk's Twitter hashtag create a FOMO on the market. This news spreading around all social media, and of course, I noticed from Telegram. I was just wondering to create a thread then noticed this thread.

I'm surprised why people are making crazy investments based on someone's recommendation?

Same here. It's become a part of the crypto community. When the richest or famous person supports bitcoin then a few numbers of big investors think Bitcoin is potential and start buying. Or there would be another reason, whales are manipulating price bases on Elon Musk's hashtag.

Elon Musk's tweet is certainly a lot surprising about cryptocurrency even the current trend on social media with the hashtag Elon Musk, of course big investors will be sure what Elon Musk said they believe bitcoi will be a valuable asset even as an investment in the future but is this? the price will stick up to $40k?

Some famous people are also now eyeing bitcoin after Elon Musk wrote Bitcoin in his bio. Will this change the finances that hold crypto? or just part of it and it doesn't apply to altcoins? Ah this is a sharp increase in a short period of time.

[UserU]

Is this triggering the price increase that is happening right now? It is not the same price increase as past week's but the price after that seems to be staying at $32K which go down at $30K. I thought it will be touching down again at $20K but checking it again, it is now at $36K and might even reach $40K tomorrow. This man is really influential.

Tell me about it

Bitcoin spikes 20% after Elon Musk adds #bitcoin to his Twitter bio

Source: https://www.cnbc.com/2021/01/29/bitcoin-spikes-20percent-after-elon-musk-adds-bitcoin-to-his-twitter-bio.html

[semobo]

Musk's change is bio cannot be overlooked; he did it first with Doge coin; and after seeing the fomo worked perfectly; he literally did the same to bitcoin today; he merely used his influence on social media to create a fomo incidence which worked to certain extents; alot of bitcoin traders who are shorting bitcoin were liquidated due to the ripple effect of musk bio

Having someone as influential to cryptos this much then is not good for its future because they will simply use cryptos to bump and dump and will make their profits but people who believed in its future will get rekt. Hope people will realize who they are than simply following what other people do, because we have our own thinking ability so no need to be affected when someone decides what they want to do.

#BuyFUDSellFOMO

[Tolosi]

Same here. It's become a part of the crypto community. When the richest or famous person supports bitcoin then a few numbers of big investors think Bitcoin is potential and start buying. Or there would be another reason, whales are manipulating price bases on Elon Musk's hashtag.

I am not selling. They can manipulate at will.

[Ryker1]

This will probably bring a big pump and dump, I believe in long term BTC and not in such moves.

Agreed.

Well, just because he is the most influential people around the world. That is the power if you are the richest man on earth, you can influence people who follow you, and that brings a massive adoption of bitcoin. This will give a pump and dump with bitcoin price, as we can saw in the market, bitcoin was gained too much price increased. Perhaps just also because of Elon Musk dogecoin was increased too much and then at this moment it had a short correction. Indeed, more and more influencer will come to bitcoin will surely give awareness to people or potential big investors.

[RickDeckard]

While this is good for BTC in terms of being even more recognized in the industry, and while the price is also being affected by the attention generated, I don't know how much this will have an impact in the overall adoption of BTC.

Sure it's awesome to see that his using his twitter to spread the word, but I also would like to know that I can buy a Tesla with BTC for example. While there is another thread in the forum that discusses the cons / pros - https://bitcointalk.org/index.php?topic=5308132.0 - I know that it isn't a decision that we can do alone (I believe that if it it were for him he would already put it up as an option).

Still, hes spreading the word and that's always free marketing. I just hope that people see it as as a way of making trades besides being a way of investing some part of their wealth.

It's been a really wild week guys ...

[aoluain]

-snip-

Not just Bitcoin, but Dogecoin as well. I sold all of my DOGE last 2017 (I don’t know if the DOGE in my other “old” account is still there (gotta find my details in the email, but I don’t think there’s a lot if it).

I don’t know if he is just trolling or what, but no matter what, he still “advertised” Bitcoin and creates a lot of exposure to his followers.

So yeah, still a good thing though.

This kind of advertisement is great for Bitcoin, Dogecoin and the rest of the cryptocurrencies.
Nice move Elon  

If it is trolling, its only a matter of time anyway before he enteres
the Bitcoin space. "In retrospect, It was inevitable"

Dogecoin is just a "Pump and Dump" coin, it has no useage.
30 days ago is was less that $0.001c it pumped to over $0.05c.

[posi]

People like Elon cant be trusted when it comes to investment especially in cryptocurrency I have said it on several occasions because they mostly abuse their influential status to lure people into wrong decision making through FUD so they can enrich their pocket and if you guys check most of his tweet yesterday or the day before you'll see that he make FUD statement about stocks that

"u *can* sell stock u don’t own!?
this is bs – shorting is a scam
legal only for vestigial reasons"

I guess he has achieved his aim on Bitcoin and stock is the next move.

I was about to create a thread about the recent change in Elon Musk Twitter account before I saw this thread.

[tinopener]

The price probably spiked due to the fact that many hodlers were biding their time waiting to buy the dip at the lowest point, so quickly bought as they feared Musk's tweet would send the price higher.

Sort of a self-fulfilling prophecy.

[blckhawk]

The price probably spiked due to the fact that many hodlers were biding their time waiting to buy the dip at the lowest point, so quickly bought as they feared Musk's tweet would send the price higher.

Sort of a self-fulfilling prophecy.

Yeah, I'd say that it would be the case. Imagine Bitcoin was just hovering around $30k-$31k and after Elon's tweet, the price suddenly zoom and now about to reach $40k once again. It is true that Elon was an influential person, his enter might not be the major cause of this sudden move but this became a trigger for everyone to come and do the same. This is proof that an influential person can manipulate the whole market. I knew the rally wasn't over.

[TedMosby]

I can confirm that the google trends graph is absolutely true.
because the numbers of people that used my affiliate link to register on a crypto exchange increased significantly today.
seems like the "GameStop, Doge, and Elon Musk" collaboration becomes today's fuel for bitcoin.
also, you guys will see more scammers today that tell you that Elon Musk host a bitcoin/eth/crypto giveaway on a fake site.
just be aware of it.

[Welsh]

As the saying goes, correlation does not equal causation. Although, undoubtedly Elon musk putting that hashtag inside his bio likely had a positive contribution to the adoption of Bitcoin, and certain people would be more inclined the look at Bitcoin favorably, it likely didn't have enough of an impact to impact the market. Of course, some people who see someone like Musk who's probably viewed as a genius, and pioneer by many are more likely to believe in a technology that he appears to support. Although, these will likely be fans, and general users rather than the big cash cows that it requires to be able to manipulate a market.

Having said this the longer he keeps it up, and the more people that see it, can only do good things for Bitcoin's adoption. Honestly, its nice seeing someone like Elon, actively pushing Bitcoin in front of the masses, in a more positive light than the news usually does.

[Mbitr]

His tweet has just been included in the bitcoin blockchain 



https://twitter.com/documentingbtc/status/1355109827878543361?s=21

[Viscore]

I can confirm that the google trends graph is absolutely true.
because the numbers of people that used my affiliate link to register on a crypto exchange increased significantly today.
seems like the "GameStop, Doge, and Elon Musk" collaboration becomes today's fuel for bitcoin.
also, you guys will see more scammers today that tell you that Elon Musk host a bitcoin/eth/crypto giveaway on a fake site.
just be aware of it.

Are they making the hype now? That seems quiet to see how Elon Musk does this, with the hashtag Bitcoin? Well, that simply creating hype and use his popularity to encourage people to buy Bitcoin at a high price.

But wait, I don't think is really enough to make a huge spike for the hashtag line. Probably not the case why we have this surge, just a coincidence, Elon Musk didn't do anything with the market, nor he is playing around but to suspect this as another drama from different people and uses Elon Musk's identity.

[tomahawk9]

You're totally underestimating how much influence Elon Musk has. There's a reason why $TSLA is astronomically overpriced.

this guy gets it. here's a merit

The only thing that can explain this price movement and that will make literally tons of people FOMO buy btc in the upcoming hours/days is that Elon Musk tweet and his new bio. Anyone denying this + the fact that the richest man in the world can have this type of power through social media is a plain fool

fasten your seatbelts ladies, expect another pump once USA wakes up. Thank u, Elon 

[killerfrost]

I like his personality and I believe he is helping this market go up, look at WallStreetBet you will see when Elon Musk's interest in this account has grown to nearly $1m follower. I believe these people are helping this market even more, they've given us the market's crazy ups and downs.

[voyager23]

This is one of the flaws in crypto.... it's open to "market manipulation" like this......

Elon puts 1 million in a 0.005 coin.... Hypes it... Sells it...

Am I right?

[semobo]

This is one of the flaws in crypto.... it's open to "market manipulation" like this......

Elon puts 1 million in a 0.005 coin.... Hypes it... Sells it...

Am I right?

When you got such influence then for sure he can invest in a cheap coin and hype it like what happened now and dump it once he sees a fancy bump.

But this may not work all the time so investment equal to the risk and even people who are manipulating knew it.