Elon fuels BTC rise 17% DOGE gose 8×

[KTChampions]

On the one hand, it is very funny and interesting to watch such events (and some were able to make good money on this), but on the other hand, it creates an image of some kind of frivolity. I don't think that the fact that one person can change the bitcoin rate by 15+ percent with one action on a social network is a good argument in favor of bitcoin, rather the opposite. Even if this man were the president of the United States.

[pixie85]

Crypto is Elon's new playground now?

What will happen when the tweets "Bitcoin as shit as FIAT" like the last time he did?

Reminds me of McAffee too. Since he is in jail now, somebody had to fill his spot. If Elon keeps doing this, he might be cell mates with McAffee.

It would be strange if he tweeted about it for a year and had nothing in his pocket when 1 bitcoin for him is like dust. He spends more on food than 1 bitcoin is worth.

It would also be pretty stupid if he changed his status before buying unless it was just a joke. People are hoping he will pump bitcoin but what if he's already in and taking profits from this pumps?

[KTChampions]

It would be strange if he tweeted about it for a year and had nothing in his pocket when 1 bitcoin for him is like dust. He spends more on food than 1 bitcoin is worth.

It would also be pretty stupid if he changed his status before buying unless it was just a joke. People are hoping he will pump bitcoin but what if he's already in and taking profits from this pumps?

I do not think that he does it for selfish motives (for his ambitions this market is small, it seems to me), he just likes to have fun. As far as I remember, there were already court hearings and he was somehow limited to topics for commenting on Twitter (if I remember correctly, this was when he was talking about what he wanted to make Tesla a private company and thus influenced the stock price).

[Botnake]

Wow! this guy must have hold a lot of BTC, the tweet was very simple yet people are riding with it.
This popular entrepreneur are really influencing the market, and I love the approach of Elon Musk because he is not so vocal, people love that.

Nice timing by the way, because bitcoin has been struggling before that tweet, and we saw what happened.

[Shasha80]

Many people were influenced by what Elon Musk did on twitter platforms, because coincidentally the prices of Bitcoin and Dogecoin went up
dramatically. I think this is a good thing for me, who really HODL the two coins, I can make a short-term profit. Especially the increase in Dogecoin
has been extraordinary, I, who have been collecting Dogecoin for two years, are lucky to get a large enough profit. Hopefully the same applies
to Bitcoin, so that Bitcoin can return to over $ 40k again.

[Inspiron14]

On the one hand, it is very funny and interesting to watch such events (and some were able to make good money on this), but on the other hand, it creates an image of some kind of frivolity. I don't think that the fact that one person can change the bitcoin rate by 15+ percent with one action on a social network is a good argument in favor of bitcoin, rather the opposite. Even if this man were the president of the United States.

Elon Musk looks really nervous to me lately. Almost like if he was feeling Wall Street was about to short Tesla to the ground and beyond 

because Elon is not just anyone, Elon Musk has 44 million followers of mate, it is only natural that many people follow what he thinks,
it looks funny, but that's a fact that's happening now, doesn't that also give us all free signals?
And of course it's a chance for us traders get a lot of profit from an influencer tweet, honestly I want to see her tweets again,
even if possible Jack Ma should also make tweets hehe  .

[cryptomaniac_xxx]

On the one hand, it is very funny and interesting to watch such events (and some were able to make good money on this), but on the other hand, it creates an image of some kind of frivolity. I don't think that the fact that one person can change the bitcoin rate by 15+ percent with one action on a social network is a good argument in favor of bitcoin, rather the opposite. Even if this man were the president of the United States.

Elon Musk looks really nervous to me lately. Almost like if he was feeling Wall Street was about to short Tesla to the ground and beyond 

because Elon is not just anyone, Elon Musk has 44 million followers of mate, it is only natural that many people follow what he thinks,
it looks funny, but that's a fact that's happening now, doesn't that also give us all free signals?
And of course it's a chance for us traders get a lot of profit from an influencer tweet, honestly I want to see her tweets again,
even if possible Jack Ma should also make tweets hehe  .

I doubt that Jack Ma will do that, in fact he has been missing for months from the limelight after he critised the Chinese government and his IPO being shut down.
For Elon, yes his simple tweet causes a mad rush to buy bitcoin and in minutes the price goes to more than 10%, amazing how this guy is the poster child for pumps and dumps. But Doge seems to be dumping right now though, 20% down in the last 24 hours. Sign that maybe WSB are looking for the next coin to be pump.

[LoyceV]

Crypto is Elon's new playground now?

Just a reminder: Elon Musk says $40m tweet was 'worth it' after being fined: he's rich enough to get away with market manipulation, and he seems to enjoy the power he has over the market. He's now extending his influence to other markets.
I've never liked "influencers": people don't follow what they say because they believe it, they follow it because they expect other people to follow it too. And that makes anything he says a self-fulfilling prophecy.

Elon Musk is a billionaire troll

Well said! But trolls have power, and billionaire trolls have a lot of power.

6 hours later, and most of the gains from Elon's pump are gone.

We've seen Bitcoin price swings from the words of bankers before, but in the end, they don't matter. Bitcoin works with or without the support of bankers and rich guys. Bitcoin doesn't care.

[ultrloa]

A single word Bitcoin getting added to the bio of Elon Musk has made such a big change in the market. This has getting changed to be the big boys game. Elon Musk always try to be the game changer, from program development to the present days technology he has been getting on the top. Maybe we can soon get to see his own cryptocurrency, which will be under big hype without reason.

I've heard that he said cryptocurrency might be the future of currency for space exploration but I don't know whether that's true or not. But, considering the technology we gonna have if we reach that far, cryptocurrency definitely suitable for so many purposes. I think that's what elon musk follower speculate as well when he put that bitcoin word in his bio

Remember Elon is a businessman so anything statement might be released just for his own benefits, this is hyping works and his so successful for pumping those coins he want to hype.  Just believe on things when there's a news on media coming up since by that we can determine on how the turn of events goes.

[exstasie]

Elon could only pump 17%. I expected way more tbh.

LOL. Elon was only good for a 3 hour short squeeze. How disappointing!

Actually, on second thought, that gives me some faith in Bitcoin markets.

Maybe a little short squeeze was all he was after. He does seem to really hate the idea of short selling. This is him 12 hours before he added BTC to his profile:

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

https://twitter.com/elonmusk/status/1354890601649610753

[LoyceV]

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

https://twitter.com/elonmusk/status/1354890601649610753

It's not entirely true: if someone pays me to sell my house/car/jet, and promises to give it back next month, we can work something out if the money is good.
I'm pretty sure most new car sellers don't even own the cars they're selling: they can only afford to pay the manufacturer after they've sold the car. The entire fiat economy runs on debt.

The problem with shorting is that it creates a positive feedback loop. If you buy something, you push the price up. But if you sell something, you push the price down, which is what you want because you want to buy it back cheaper.

[STT]

The sold stock is borrowed from those who own it, thats fine and the rights of the legal holders of that stock.   The problem many have is their brokers who are using the stock behind the backs of purchasers in online accounts, they are nominee owners and the broker is double dealing and selling what they are basically trustees for.   Really they should be paying or giving an option to the account holder and purchaser of the stock.   That is pretty murky business but we can go one step further and some short sold stock never existed, naked short selling of stock nobody owns hence how the company has more stock sold then was actually available and it gets ridiculous.
    They cannot really ban straight short selling, it was considered in 2008 but actually discourages a market, reduces liquidity and restricts the freedom of holders but naked short selling is hard to justify as anything but corruption and deceptive practise.

https://www.investopedia.com/terms/n/nakedshorting.asp

BTC has an uptrend here on the lows despite the spike and sell.  Elon did setup Paypal not BTC and did have the intention to create an online currency originally apparently, obviously its not that now despite now handling BTC kinda.

[KTChampions]

On the one hand, it is very funny and interesting to watch such events (and some were able to make good money on this), but on the other hand, it creates an image of some kind of frivolity. I don't think that the fact that one person can change the bitcoin rate by 15+ percent with one action on a social network is a good argument in favor of bitcoin, rather the opposite. Even if this man were the president of the United States.

Elon Musk looks really nervous to me lately. Almost like if he was feeling Wall Street was about to short Tesla to the ground and beyond 

I heard that literally today or yesterday some kind of investigation was initiated against him. Quite funny, as soon as he somehow took the side of the people (I mean that Wall Street scandal), he immediately received a response from politicians in the form of another investigation.

[coin-investor]

What he says and posts will have an impact on the market because he has the influence and the money to back it of, we should be glad that we have the richest man in the world in our industry, it can influence like-minded people like him to take a dip in the Cryptocurrency, this is what the pioneers dreamed about to happen and it's happening right now, soon we will have many more Elon Musk tweeting about Cryptocurrency.

[jjdub7]

This is what returned me here = WSB & Elon's tweets

After the DOGE pump I urged myself to check what forgotten wallet I have. Unfortunately didn't find any significant amounts, but it is fun to watch the whole soap opera.

[robelneo]

It goes with the name and everything attach to him, Elon Musk is a man with a Midas Touch, just see what his tweet can do to the market, I just hope he will not do what McAfee promoting shitcoin to the community, Elon Musk should just concentrate on the top and proven coins in the market, there will be developers that will come to him to promote their project, he should reject these people and don't let them tarnish his reputation.

[pooya87]

I disagree. What happened to bitcoin was a short squeeze that is very similar to what happened to GME stock where people crushed the shorters who have been betting against the market and were crashing the price of that stock. The same thing on a small scale happened in bitcoin to bankrupt the shorters.

What happened to Doge was a simple pump and dump that happens regularly and is not just limited to Doge. In fact Doge pump was a very small one compared to most of these pumps we see in altcoin market. This is also not the first time Elon is hyping the Doge pump either.

[LoyceV]

we should be glad that we have the richest man in the world in our industry

It's an illusion to think your interests align with his interests. A 3-day pump&dump doesn't do crypto any good.

[ipanks]

Maybe another day for dogecoin to increase because the price is already hit the highest price. Dogecoin now needs to rest for a while and gather more supports so that the price can start another rally. Besides that, dogecoin has already increased, and I think it will be better to stabilize at the current price for a while. Dogecoin can have a chance to grow to $1 in the future, and if that happens, many people will be happy to sell at that price.

[Oasisman]

Doge coin has been pumped and will eventually dump real hard. I believe the Elon Musk tweet is just an accessory of it. Some articles has been saying Doge coin has been pumped by a reddit pump group. Elon might have fueled this pump, but the intentions behind is obviously a pump and dump, so I don't think everyone has benefited from the pump.