It's not a good rise, actually it's bad

[serjent05]

What if Elon Musk said that he changed his mind and today bitcoin is bad and Ripple is better?

 I believe some Big community is just using Elon Musk's bullish sentiment to move the Bitcoin market.  In every industry, a group working behind the scene always look for a possible "figurehead" to hype the market.  And at this moment it is possible that they are using Elon Musk's popularity and bullish sentiment to move the market and working in sync with whatever Elon Musk says.  So,  I don't think Bitcoin will suffer too much damage if Elon Musk changed his mind,  instead, we should be worried about the big group that is working behind the scene on when they will let the bubble burst.

[Nunoluck]

That's really bad behaviour. In my countries there are some celebrities who promoted some companies in stock market and then they got warning letter from the comunity because he make the price in wrong way. So the price rise not because the companies performance is good but just because they promoted it ( suggest their fans to buy the stock ). But it seems that many of cryptocurrency trader like the sentiments that Elon Musk give to cryptocurrency market. I think Elon Must have good reason to choose bitcoin as investment, maybe he see good thing about bitcoin and blockchain technology. I just being positive thinking.

[3meek]

It's nothing new - it's the psychology of the crowd... Remember the last hype, back then McAfee manipulated different coins every day just by saying their names... Unfortunately this time it turned out to be Musk, who I respect... I think that in the end there may be a claim to him!

[Shasha80]

I agree that Elon Musk is too influential in the crypto world, we are grateful that Elon Musk supports Bitcoin. If Elon Musk changes his mind and turns to
hating Bitcoin, it will be dangerous that the Bitcoin price can be drastically dumped. But I am sure that people who have been investing in Bitcoin for
a long time will not be affected by anything Elon Musk said.

Because old investors buy Bitcoin not because of Elon Musk, but see Bitcoin as a valuable asset. The fear is that new investors will definitely be influenced
by famous people like Elon Musk, but we all can't control what Elon Musk will do. Hopefully Elon Musk will continue to support Bitcoin for the longest time.

[shoreno]

i can only agree on him when he says that btc is good but for other coins,  that maybe a manipulation or a shilling only and that is a bad thing .

 its also a bad thing when he changes his statement in btc from good to bad because we know that no one beats btc but that was okay if he do that to other coins because other coins next to btc are not really that good enough and their stats can easily outcome by the others .

[jasonjm]

I like the ambitions that Elon Musk has and the charisma that he carries but what's happening right now is very bad. One man has a huge influence on everything, one word of Elon Musk can destroy or rise the things like Phoenix. Tesla invested in Bitcoins and price went from 38K up to 44K in just some hours. Yeah, if Paypal, Visa or any other company bought bitcoin that would happen too but what happens around Musk is very different.
Elon Musk says that Signal is better and everyone moves on that.
Elon Musk says that Doge is a good coin and everyone invest.
Elon Musk says that Bitcoin is a good thing and it rises.
Elon Musk's company invests in bitcoin and it rises.

What if Elon Musk said that he changed his mind and today bitcoin is bad and Ripple is better? I'm saying that just for example. People can't think themselves, they think: If Elon Musk says that something is good, then it's good.

I don't think it's a healthy behaviour from people.

You highlighted a very important point, there are many influencers present in the world and Elon Musk is one of them. The reason why crypto market and other tech related things increased in value when Musk tweet could be, because he is a tech entrepreneur and people think if he is backing some technology then there must be something present. But definitely, this is not a healthy behavior. As far as BTC price surge is concerned I think, it is influenced by the positive news regarding crypto investment happened in the past as well.

[maculeth]

I like the ambitions that Elon Musk has and the charisma that he carries but what's happening right now is very bad. One man has a huge influence on everything, one word of Elon Musk can destroy or rise the things like Phoenix. Tesla invested in Bitcoins and price went from 38K up to 44K in just some hours. Yeah, if Paypal, Visa or any other company bought bitcoin that would happen too but what happens around Musk is very different.
Elon Musk says that Signal is better and everyone moves on that.
Elon Musk says that Doge is a good coin and everyone invest.
Elon Musk says that Bitcoin is a good thing and it rises.
Elon Musk's company invests in bitcoin and it rises.

What if Elon Musk said that he changed his mind and today bitcoin is bad and Ripple is better? I'm saying that just for example. People can't think themselves, they think: If Elon Musk says that something is good, then it's good.

I don't think it's a healthy behaviour from people.

mostly retail investors and traders, small investors. they are still waiting for the trend to choose. and if it's elon musk who has invested a large amount of bitcoin, then those people will follow. and if elon musk said the opposite in the future, people would immediately sell it and the price would drop, if they weren't too late.

[Vishnu.Reang]

People believe in Elon Musk for reason. He is regarded as the master of technological innovation. When he made his investment in Tesla (in 2004?) no one believed that electric vehicles will have such a huge market. Then again, when he started with SpaceX, no one thought that it will be able to compete with the Russian space shuttles. Look at the success he had till now. I would say that Elon Musk to 21st century, is what Warren Buffet was to 20th century.

Even I am not very fond of his newfound love for DOGE. But I believe that he tweeted about DOGE just as a joke. If he was serious, then Tesla would have invested in DOGE and not in BTC. The problem lies with the people, who can't distinguish a joke from a serious tweet. Anyway, personally I don't care what are the reasons behind the current rally. My reasoning is that any sort of price rise is good for the cryptocurrency investors.   

[Altcoinsintel]

I always thought of Elon Musk as a leach. most of his claim to fame has been sponserd by government grants (or  so the news reports it) .
I'm ready to see him short the 1.5 Billion, and sell, leaving us ,the taxpayers who finance his companies ,holding the bag.
I think that goes with his personality /character !

I don't know a lot about Elon Musk's personality. What it seems to you that he is just a random speculator that makes short term investments? He has seen a few things in Bitcoin and made a huge investment. I am more interested to see what happens when Saylor sells, as this is the most matching personality to what you explain.

[ethereumhunter]

It's nothing new - it's the psychology of the crowd... Remember the last hype, back then McAfee manipulated different coins every day just by saying their names... Unfortunately this time it turned out to be Musk, who I respect... I think that in the end there may be a claim to him!

I think it is different because Elon can move the price after making a tweet while McAfee can not do that. But McAfee manipulated the coins, so the public does not trust him. But even if this is not a good rise, we need to enjoy the ride, and if there is a time for us to make a profit, we should do that before we are late to take profit. But deny or not, Elon gives a new hope the crypto by inviting more big companies to invest in bitcoin and other coins. If that can happen more than today, it will make the mass adoption will grow.

[pixie85]

It's nothing new - it's the psychology of the crowd... Remember the last hype, back then McAfee manipulated different coins every day just by saying their names... Unfortunately this time it turned out to be Musk, who I respect... I think that in the end there may be a claim to him!

McAfee did it only for his own gain and he was selling his support for fiat. He was never interested in crypto for other purposes than making some $$$ and dumping everything.

Musk on the other hand gave hints to people that he was about to invest. He added bitcoin to his interests on twitter so if you followed him you knew that it was a good time to get some bitcoin and maybe a week later he made his move. He did not do it to influence the market. He bought to make profit and this move influenced the market, which is great because more companies will follow him.

[Rruchi man]

 People can't think themselves, they think: If Elon Musk says that something is good, then it's good.

A man with results, is a man with a voice. It is a regular behaviour for people to listen to the advice, tip, warning, and whatever a man with results ( a successful man) has to say. Elon so far is a symbol of success, he has driven innovations and is the one of the world's richest men. Alot see him as mentor and till he no longer has results, people will continue to follow his thinking. (After all it is a $182.9 Billion dollar thinking, lol).

[pooya87]

If he bought XRP people would of course buy XRP but is that wrong? He's rich and smart and people follow such characters.

For me it's a great rise because he did not spread FUD, he really bought!

There is a big difference between bitcoin and shitcoins though. So you can't really compare the two cases. For example take both his tweets about both bitcoin and dogecoin for example.
Bitcoin price goes up and stays up
Dogecoin price goes up then drops down
It would be the same with any other shitcoin because hyping a shitcoin creates a pump and a pump is followed by a dump without an exception but hyping bitcoin leads to more adoption and price rises and real rises with real adoption never reverse back.

It is the same with FUD, the panic caused in bitcoin is temporary and any drop caused by FUD will reverse but a shitcoin that drops after a FUD can not recover.

[LogitechMouse]

~
I don't think it's a healthy behaviour from people.

This is the exact same scenario when McAfee is just shilling new projects and different coins/token in his twitter account.

He might tweeting something but he can freely do it since we have the freedom to do it. The problem lies with the investors not with Elon Musk at all. He can say that Ripple would pump in the next week and investors will not react into it. He can shill anything but it is the decision of the investor whether they will listen to him or not.

You can say it bad but see the other side of it too. Losing in trading is inevitable especially when you got FOMO'ed with things like this but on the other hand, there are traders who are winning because of these tweets. He can say anything but it will depend on the investors if they will react into it.

[vintages]

I totally agree with this, I am beginning to dislike his approach on the whole thing. Bitcoin should be growing because people want to invest in it naturally, not because 'one' man makes a statement about it.
Tomorrow, when he wakes up and says otherwise, the price will dump on us, especially for those who purchase at a higher price.
I really like him but this manipulation isn't right or healthy for the growth of bitcoin.

[verita1]

The approach that OP has presented is interesting. While the events around Elon Musk were passing, I had also noticed the charismatic leadership that he possesses.

It should be noted that Elon Musk with his style is defined as transformational, he knows as a leader that he has a great role in directing his ideas to success.

My thought that his decisions were not made free will they were made after being studied and were approved because they are totally viable.

The best that his decisions were made by joining the ideals of another man of science such as Michael Saylor. There was no selfishness, there was a great consensus in favor of the future of the generalized economy that will benefit everyone.

Because now we are a great active community that is manifesting and Elon Musk as a leader is passionate about interacting with the masses.

[oliviarobert]

In the years 2019 and 2020, Tesla certainly had a bitcoin like bull run. It was truly staggering. Tesla spent most of the past two years out bitcoining until this fall.

But Tesla, by market cap, is now one of the largest companies in the world. The market cap is already many times higher than where it should be based on its business, but people like it because Musk is well known and Tesla is the leading edge of EVs. It only has no much higher it can go. It can definitely continue to go up, But investors will begin to ask themselves at some point why Tesla's market cap is larger than all the other main car companies combined, despite doing a tiny fraction of the business they each do. Now, of course, the stock market is not really based on economics, but o the psychology of what you believe everyone else is going to do. But instead, it's just based on the psychology of what you think everyone else is going to do, but people are still going to start getting scared at some point of holding onto Tesla at such astronomical prices, while bitcoin won't have that issue.

On the other hand, bitcoin is just beginning its ascent. In the next few years, Tesla may still be able to double its market cap, but bitcoin may be 10 times its market cap in the next few years. There's no comparison really. Tesla had to act like bitcoin for a few years, but it's at the end of the period, while bitcoin is just beginning to heat up again. Since the bottom of the covid crash and the bottom of the bear market, we have already seen an order of magnitude gains, and we're likely to see another order of magnitude over the next 2-3 years. To keep up with bitcoin over the next few years, Tesla would have to become like a $6 trillion dollar company,haha.

[mariayaz]

I think its amateur buyers who are to blame, Elan said doge is people's coin and people started buying without even knowing that it's a meme coin. If people dont look up for a quick cash and use some logic before buying good couns, these things wont happen.

[lovesmayfamilis]

Based on what Elon Musk himself said, then, according to him, he regrets that he did not buy bitcoin eight years ago. But he also clarifies that he does not have good knowledge of other cryptocurrencies. And even from these few phrases, it can be assumed that these one and a half million dollars were for Elon a joke and additional PR.
But just as competent analysts say today that with a lot of excitement, many large corporations will not loudly declare investing in bitcoin, realizing that they will not be able to buy it at a profitable rate. From here, we see such a rush with prices, because many companies are in a hurry to acquire bitcoin, trusting such individuals as Elon Musk.

[salty]

I like the ambitions that Elon Musk has and the charisma that he carries but what's happening right now is very bad. One man has a huge influence on everything, one word of Elon Musk can destroy or rise the things like Phoenix. Tesla invested in Bitcoins and price went from 38K up to 44K in just some hours. Yeah, if Paypal, Visa or any other company bought bitcoin that would happen too but what happens around Musk is very different.
Elon Musk says that Signal is better and everyone moves on that.
Elon Musk says that Doge is a good coin and everyone invest.
Elon Musk says that Bitcoin is a good thing and it rises.
Elon Musk's company invests in bitcoin and it rises.

What if Elon Musk said that he changed his mind and today bitcoin is bad and Ripple is better? I'm saying that just for example. People can't think themselves, they think: If Elon Musk says that something is good, then it's good.

I don't think it's a healthy behaviour from people.

In the world of big corporations, there is no place for ordinary people. I don't think that his advice was followed by ordinary people. Most likely, bitcoin began to be bought by millionaires and companies that are focused on innovation and who want to still have time to get in the boat. This is both good and bad. It's good that people pay attention to bitcoin, but the bad thing is that large companies enter the cryptocurrency market that are likely to undermine the very spirit of freedom that cryptocurrency implies.