Elon fuels BTC rise 17% DOGE gose 8×

[tippytoes]

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.

I think Elon Musk is more careful than McAfee because McAfee is mostly after the money that he will get in promoting the project. Remember those days that projects were happy to attach the name of McAfee in their platform. Wonder how much they paid him just to endorsed and used his name. Whereas, with Elon, he doesn't need payment just to say something about crypto or any other currency. He is doing it for the sake of what he feels at the moment. So no strings attached so to speak. That's why people are following him because they know he doesn't need any more money just to say something to a project.

[FIFA worldcup]

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.

Yes, the shorter get punished severely both in the stock market and in the bitcoin market. I remember that bitcoin was around 32,000$ and everyone was thinking that bitcoin will go below 30K and there were many short position opened for bitcoin. That big pump in bitcoin made them liquidated and give them a lesson that do not short.

[MCobian]

This is good news in my opinion, because it is very difficult to make Bitcoin and DOGE prices go up.  But Elon Musk is very easy to make the coins
he wants go up. Hopefully Elon Musk does it often, so that it can make the price of Bitcoin and the DOGE pump even higher. But I do agree that
DOGE's ridiculously high price hike wasn't just because of Elon Musk's tweets, but there are other factors that make the DOGE pump price.

Elon Musk is only a trigger, another factor could also be whales who do pump and dump. Or even some trading groups that have quite a lot of members
to do pump and dump. But the increase in DOGE does not last long, now the price of DOGE is starting to drop dramatically. Therefore, don't be
panic traders, always buy and sell coins based on analysis.

[arufox]

Elon Musk is a big influencer or maybe he is the biggest crypto influencer. Every his writing is capable of influencing people, so many people in the same action like buy it's mean will pump and sell its mean dump. I think we must follow everything his tweet

[bluebit25]

He is like a child, acting thoughtless. But it's clearly positive from this market, I'm also a supporter of the movement they're creating, and I believe it's generating a lot of attention. But what if he goes against this market, as this can be released, but I'm just imagining the nonsense because Elon knows bitcoin and I believe he is buying a lot of bitcoins too.

[sarmrakib]

In the past 24 hours, Bitcoin (BTC) was trading between $31,161.96 and $37,990. As of 10:00 AM (UTC) today, BTC is at $36,692.81 (+16.51%), with much of that growth coming in the last three hours after Elon Musk changed his Twitter bio to #bitcoin.BTC





Meanwhile, Dogecoin (DOGE) briefly entered the top 10 crypto rankings, as it skyrocketed by as much as 800+% following a Reddit-fueled buying frenzy. DOGE reached as high as No. 7 before a market correction placed it just outside the top 10.





Your opinion about This changes

I can say they uptrend was happen recently for this news certainly .The market was suddenly moved up with a huge serge when the Elon Musk make it up on twitter on the other hand Doge was become rise so fast with a huge amount of volume .Now the market is started to fall down and look like stable .

[Slow death]

this whole situation shows that if someone influential does something it can cause bitcoin price to drop a lot or increase a lot. But we also have to admit that any exposure that Elon Musk creates for bitcoin can be advantageous... maybe more companies will enter this market if the rich are advertising bitcoin. so far few countries in the world have created good laws for bitcoin, we need more influential politicians to enter this market

[darewaller]

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  .

Well the deal is he is not the old type of rich people, back in the day when people got rich you wouldn't see them, you wouldn't really hear about them aside from some newspaper interviews and eventually that was television programs but many very rich people didn't talked to press let alone even the people. Hell Jeff Bezos who is a new rich person is still like the old ones, bill gates is a fun guy from what I have seen and make jokes but he is still not talking with the press all the time, let alone people, warren buffet and all others basically rich people do not chat with you or me.

However Elon became the world's richest person and yet he is on twitter retweeting memes and jokes and captions, he talks BS all the time and he just trolls around all day. That is why he is influence and has that much follower, because he is rich but he is also kinda like us as well.

[KTChampions]

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.

But to some extent, he is still useful as he brings knowledge about cryptocurrencies to popular culture. It is much easier to attract people to the cryptocurrency field when they have already heard something about them than just with zero first knowledge. In addition, a figure like Musk creates a positive image for the things he advertises.

[exstasie]

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.

I noticed some replies pointing to that comparison. I'm not sure short selling and consignment operations (or whatever you would call it) are an appropriate comparison. Short selling is speculation, whereas Tesla has an ongoing business operation with real cash flows.

I disagree with him fundamentally though. Stock owners should be able to do whatever they want with their shares, including lending them to short sellers.

[KTChampions]

I noticed some replies pointing to that comparison. I'm not sure short selling and consignment operations (or whatever you would call it) are an appropriate comparison. Short selling is speculation, whereas Tesla has an ongoing business operation with real cash flows.

I disagree with him fundamentally though. Stock owners should be able to do whatever they want with their shares, including lending them to short sellers.

I completely agree with you, but with a small (but critical) caveat - any transactions must be made with 100% reserve of funds, i.e. every shorter must have the full share when he sells it. But in fact, we are constantly dealing with fractional reserve operations, for me this is something very close to a scam.

[rdbase]

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.

New?

No, He has been tinkering with the idea of it for awhile now when he became the former ceo of doge back in 2019.

But what I see with dogecoin rising to such heights is interesting because I have always seen it at $0.02 on any given day and it rising to $0.07 for anyone holding millions of this meme coin could of been super rich over night with the help of WSB of course.
Last I checked earlier today it was trading at $0.05 so still hanging on from the hype that reddit group caused it to spike in price.
The next thing I hear they are planning on pumping is silver so keep an eye on that one as they were saying:
"From $25 to $2000 overnight!" on the WSB forums.

[exstasie]

I noticed some replies pointing to that comparison. I'm not sure short selling and consignment operations (or whatever you would call it) are an appropriate comparison. Short selling is speculation, whereas Tesla has an ongoing business operation with real cash flows.

I disagree with him fundamentally though. Stock owners should be able to do whatever they want with their shares, including lending them to short sellers.

I completely agree with you, but with a small (but critical) caveat - any transactions must be made with 100% reserve of funds, i.e. every shorter must have the full share when he sells it. But in fact, we are constantly dealing with fractional reserve operations, for me this is something very close to a scam.

I tried to word it so I wouldn't be justifying naked short selling. I agree that naked shorting is unethical and shouldn't be done. As a matter of fact, the SEC made it outright illegal in 2008.

[danherbias07]

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.

I like that idea. What could they be talking inside that cell when they are together?
I am sure the other cellmates will go crazy first before them.

It's sad that everything top in crypto will move just because of them. I don't think that is the purpose of bitcoin at all.

[error08]

The power of a hashtag from one of the richest men, ff course it might have an impact on the interest of the market because people think that Elon Musk supports and buys bitcoin. He is a fan of bitcoin and announced last month he is open to being paid in bitcoin as he considers that bitcoin will get wide acceptance in finance. No wonder why the price of bitcoin can persist above $30k and predicted that it will reach a new ath this month, hopefully could exceed $60k.

read more

[sana54210]

The power of a hashtag from one of the richest men, ff course it might have an impact on the interest of the market because people think that Elon Musk supports and buys bitcoin. He is a fan of bitcoin and announced last month he is open to being paid in bitcoin as he considers that bitcoin will get wide acceptance in finance. No wonder why the price of bitcoin can persist above $30k and predicted that it will reach a new ath this month, hopefully could exceed $60k.

read more

I do not really believe that at all, first of all this is not market manipulation because crypto is not seen as market right now, it is just a play money for many people at the politics level and they do not care about it too much, but even if they do, they don't control the market like they do with nasdaq or nyse because those are real markets they have control over versus this one where they have zero control over.

However at the end of the day if we could have some sort of unregulated market that means Elon or whoever influential could say anything they want and they would not be in trouble for market manipulation. Yet I also think that they do not have that kind of power, sure they increased it but when they promote it price would go up but when they end up saying something bad it will not drop it too much. The difference is when they promote it new people come in and buy, when they say bad things people already have it won't sell since they are involved and know it.

[Baofeng]

this whole situation shows that if someone influential does something it can cause bitcoin price to drop a lot or increase a lot. But we also have to admit that any exposure that Elon Musk creates for bitcoin can be advantageous... maybe more companies will enter this market if the rich are advertising bitcoin. so far few countries in the world have created good laws for bitcoin, we need more influential politicians to enter this market

Yes, and to dump as well, so it's a perfect tweet from an influential person. Fortunately though, for bitcoin it was over, the effect was no where to be seen now, and the move to $36k-$37k is but normal. I can't say that with Doge though, clearly it was being pump by manipulators. So I wouldn't be surprised to see bitcoin attempts to break the $40k this week. We don't need influential politicians the enter the market as the increase might not be natural.

[Botnake]

this whole situation shows that if someone influential does something it can cause bitcoin price to drop a lot or increase a lot. But we also have to admit that any exposure that Elon Musk creates for bitcoin can be advantageous... maybe more companies will enter this market if the rich are advertising bitcoin. so far few countries in the world have created good laws for bitcoin, we need more influential politicians to enter this market

Yes, and to dump as well, so it's a perfect tweet from an influential person. Fortunately though, for bitcoin it was over, the effect was no where to be seen now, and the move to $36k-$37k is but normal. I can't say that with Doge though, clearly it was being pump by manipulators. So I wouldn't be surprised to see bitcoin attempts to break the $40k this week. We don't need influential politicians the enter the market as the increase might not be natural.

DOGE might not hold anytime soon but bitcoin will and even if it will dump at $20k, it's still likely to rise again. The manipulators can always play the game whatever coins they want to pump as with sudden price movement, that means instant profit in their pocket. If you wanna join the party or enjoy the party, always make sure if you are buying altcoins, it should be a coin with a good liquidity like DOGE.

[Hamphser]

this whole situation shows that if someone influential does something it can cause bitcoin price to drop a lot or increase a lot. But we also have to admit that any exposure that Elon Musk creates for bitcoin can be advantageous... maybe more companies will enter this market if the rich are advertising bitcoin. so far few countries in the world have created good laws for bitcoin, we need more influential politicians to enter this market

Yes, and to dump as well, so it's a perfect tweet from an influential person. Fortunately though, for bitcoin it was over, the effect was no where to be seen now, and the move to $36k-$37k is but normal. I can't say that with Doge though, clearly it was being pump by manipulators. So I wouldn't be surprised to see bitcoin attempts to break the $40k this week. We don't need influential politicians the enter the market as the increase might not be natural.

DOGE might not hold anytime soon but bitcoin will and even if it will dump at $20k, it's still likely to rise again. The manipulators can always play the game whatever coins they want to pump as with sudden price movement, that means instant profit in their pocket. If you wanna join the party or enjoy the party, always make sure if you are buying altcoins, it should be a coin with a good liquidity like DOGE.

When tending to play with the market then you should really took up these steps and of course you should really be wise on playing the game and choose the best ones rather

than risking into something which isnt really even worth for your money. Manipulation is always present and we didnt even expect that we would really be reaching these numbers.

Next step? Secure profits while you can and dont let yourself get caught with the dump.

[Saisher]

In the past 24 hours, Bitcoin (BTC) was trading between $31,161.96 and $37,990. As of 10:00 AM (UTC) today, BTC is at $36,692.81 (+16.51%), with much of that growth coming in the last three hours after Elon Musk changed his Twitter bio to #bitcoin.BTC


Your opinion about This changes

Investors have this follow the leader or whales mentality, since the one promoting or making a hype happens to be the richest man on Earth it will definitely have an impact on the market and will make positive movement on the price, Elon Musk will have a big role on the bull run now, I hope many more people like Musk join the party.