Has Elon Musk's twit caused the Bitcoin bubble burst?

[ethereumhunter]

I do not think much about Elon Musk tweet because I think bitcoin does not depend on him. This time, bitcoin gets a correction, which unfortunately makes the price go down deeper without what we can predict. But we can draw a line to predict how deep the price will go down. I think Elon Musk has made a noisy to the crypto market and maybe he wants to make people panic because of his tweet. But let's be positive regard for his tweet and it is better to prepare to buy bitcoin at a discount price

[zanezane]

Btc doesn’t depend only on what Elon Musk said

But look at what happened when he did that Tweet. You are right that it bitcoin doesn't depend only on what words come out of Elon Musk but we all know that an influential person can move markets, there is a reason why companies get celebrities to advertise their product and services, they can influence the public to buy their product and services which in turn moves markets.

[orions.belt19]

It is being speculated that some original miners and early adopters are dumping their coins since December. Why they are doing this is unknown. However, I speculate that they might become early adopters of another project. That project might be the other coin that theymos accepts for copper memberships hehehe. This coin has also received a donation that came from a coinbase transaction of an original miner.





Source https://twitter.com/n3ocortex/status/1364699416012222465?s=12

Article about that large BTC dump here, looks like there are several cash outs from a single mining output so kudos to that miner who waited for a decade. Its amazing to think how long these guys has been holding. I wonder why he cashed out one time? I bet there are a lot of other early adopters out there who are only cashing out now.

On another note, even while Elon definitely has some influence even through just a tweet, he's not the only factor that affects the market. There are so many factors that could have driven the price up and down plus we were very well due for correction so it doesn't look like a bubble burst to me. A bubble burst would have the price drop to drastic proportions, something like the bear pattern after 2017 ATH.

[Hippocrypto]

Has Elon Musk's tweet caused the bitcoin bubble to burst? Will it be the beginning of the bitcoin crash?

I think so this will start to crash, news and other speculations also started to burst right now. But if you wanted to ride on this trend, don't hesitate to sell in order to be at safer side. Most panicked holders now are shaking off their feet and really worried specially if they're holding huge quantity of assets.

[doomloop]

Btc doesn’t depend only on what Elon Musk said

But look at what happened when he did that Tweet. You are right that it bitcoin doesn't depend only on what words come out of Elon Musk but we all know that an influential person can move markets, there is a reason why companies get celebrities to advertise their product and services, they can influence the public to buy their product and services which in turn moves markets.

BTC doesn't depend "only" on what Elon says, that only means a lot. Sure he could increase it and decrease if depending on what he tweets, but if Elon doesn't tweet about crypto for a year, does that mean crypto prices will not go up or down?

Basically it would go up and down even without him, so the fact that crypto doesn't care about what he says is not true, everyone cares about what he says because he could spare a lot of money and buy bitcoin and increase the price, right now we are in a market crash around the world and basically we could have a bad situation for a while, if he comes out and says he will buy a few billion more that would be awesome BUT that is not the only reason bitcoin could go up, there could be other reasons.

[XCANA]

Has Elon Musk's tweet caused the bitcoin bubble to burst? Will it be the beginning of the bitcoin crash?

No one has the ability and capability to crash the bitcoin market with just twits, like in this case of Elon Musks. Although he twitted recently which made the said bitcoin experience bubbles but that doesn't mean he's solely responsible to the crash. These burst are not far from what we heard experienced in the past, take for example the 2017 up and down crises, so, we have been here before now even more worst.

[bbc.reporter]

It is being speculated that some original miners and early adopters are dumping their coins since December. Why they are doing this is unknown. However, I speculate that they might become early adopters of another project. That project might be the other coin that theymos accepts for copper memberships hehehe. This coin has also received a donation that came from a coinbase transaction of an original miner.

they are dumping since december but why there was no real drop happening in the past months . miners are also like us and the reason why we sell our coins because we want to profit . they are experts and they believe that the price of btc last time was the highest so they sell what they got and they also sell because like what you said they are investing on another new coin but was that coin not the mimble wimble coin something ? because afaik that was the coin that was introduced on this forum before or they might be a new addition in the team  . thats cool though

The project is called Grin and it is only a speculation. It might also be a biased one hehehe.

In any case, this does not appear to be or to cause a bear market. We can only speculate why the original miners are dumping their coins.

[electronicash]

Has Elon Musk's tweet caused the bitcoin bubble to burst? Will it be the beginning of the bitcoin crash?

Let's get real. It's very clear now that all this time Elon Musk was just an undercover puppet for a Shiba Inu dogs AI hive mind  

he is an investor and like every investor he wants profit. he made some comments like this one with peter schiff, it's likely the one that causes the selloff. somehow people sees elon's tweet as the basis of how they decide on what to do with their investments. you can't take that away from him because the guy really has a broader view.

peter:

According to elon  "Bitcoin is almost as BS as fiat money." So Musk regards both #Bitcoin and fiat as BS. I agree, I just think Bitcoin, which is digital fiat, is even more BS than the paper fiat issued by central banks. #Gold is not BS. It's real money and better than both!

An email saying you have gold is not the same as having gold. You might as well have crypto.
Money is just data that allows us to avoid the inconvenience of barter.
That data, like all data, is subject to latency & error. The system will evolve to that which minimizes both.

[KryptoKings]

Elon Musk must be cursing himself for making that tweet. He has suffered huge loss after that.
Sometimes it seems like it is all pre planned. Now he must be accumulating more.

[NeuroticFish]

Elon Musk must be cursing himself for making that tweet. He has suffered huge loss after that.

Although he did crash in the past Tesla's stock price with a tweet, I believe that in Bitcoin's case he cannot do that.
Whatever some guys want to correlate, there's no such relation.
The current dump correction was long due, all what Elon Musk did was to "buy some time" before the crash coming anyway.

[ololajulo]

I don't believe Musk tweets was responsible for the slump in Tesla stocks but I believe his tweet made so much pump in bitcoin and doge coin. His position as the world richest man could influence many of his followers into FOMO. The height of this pump from the expect result in the dip of dump as well

[shield132]

Which tweets?
Elon Musk is a funny person sometimes. Some of his tweets are purely just for fun or meme purposes, some may sarcastic.
Even how Elon Musk will make some tweets in the future, people will start to adopt it, people will learn and start to treat it normal, one example is the FUD spreading on random news articles or sources a few years ago.

Yeah, he is funny. He just posts jokes/memes on Twitter but people react to it like it's the message from god. That's the real problem but as I see, people are slowly adapting on it. I think they hear proposals from friends like: Hey, this man just jokes and have fun with it, why do you seriously follow him.
On last tweet about dogecoin where the flag of doge was on the moon and his statement was: Doge on the moon, actually <-- I thought that dogecoin would skyrocket again or at least have 50% and more rise but seems nothing significant, price went a little bit higher despite the fact that BTC was falling (just some percentages) and then went down again, so, his tweets are losing value on every following attempt.

[VanDeinsberg12]

Btc doesn’t depend only on what Elon Musk said

Still it affects more or less, elon current influence is actually quite big enough to cause scene in the market it's like how institutional investor affect the market as a whole, his words kinda carry weight in the ear of most bitcoin holders. Though such thing shouldn't happening actually, feels manipulative.

[Shasha80]

It is true that Elon Musk has an influence on the increase in the price of Bitcoin and Dogecoin, but we can't blame Elon Musk if the Bitcoin price falls
in the end. When there was FOMO since Elon Musk wrote the tweets, that is what is wrong is the investor himself. Besides, I don't agree that the decline
in the price of Bitcoin is now referred to as a bubble burst, because the decline in the price of Bitcoin is still relatively normal. It is very different from
what happened in 2017, so I am still optimistic that the price of Bitcoin will rise again in the near future.

[serjent05]

Elon Musk must be cursing himself for making that tweet. He has suffered huge loss after that.
Sometimes it seems like it is all pre planned. Now he must be accumulating more.

Or he had sold already then planning on buying back when the price crash.  I got the feeling that the tweet made by Elon Musk is just a signal for sell-off,  they short and gained profit, people followed and weak hands shaken to sell their stash, the price goes down, they buyback.  Now they have more money and more BTC and acquired a huge influence in manipulating the Bitcoin market.  Isn't it a brilliant strategy as a businessman?

[fadhilz123]

Has Elon Musk's tweet caused the bitcoin bubble to burst? Will it be the beginning of the bitcoin crash?

There is no any personal or any company that can make bitcoin crash or bubble Because Bitcoin is decentralized and uncontrolled. And like I said before "Elon Musk's tweet is unhealthy for the crypto industry, He should stop making tweet like that

Do you know his last tweet about Doge? But no effect anymore. People are learned from past

[arufox]

Has Elon Musk's tweet caused the bitcoin bubble to burst? Will it be the beginning of the bitcoin crash?

Do you know what happens in 2017?? After Bitcoin pump massive and Huge correction comes for about 2 years?

2 years correction and no Bubble occurred

And you say the last correction that happens only less than 10 days will bubble?? because Elon Musk?? Elon Musk will make Bitcoin Bubble? I think before you make this thread, you should learn about what Bitcoin is.

[bbc.reporter]

It is being speculated that some original miners and early adopters are dumping their coins since December. Why they are doing this is unknown. However, I speculate that they might become early adopters of another project. That project might be the other coin that theymos accepts for copper memberships hehehe. This coin has also received a donation that came from a coinbase transaction of an original miner.





Source https://twitter.com/n3ocortex/status/1364699416012222465?s=12

Article about that large BTC dump here, looks like there are several cash outs from a single mining output so kudos to that miner who waited for a decade. Its amazing to think how long these guys has been holding. I wonder why he cashed out one time? I bet there are a lot of other early adopters out there who are only cashing out now.

It might because they want to invest on another cryptocoin project, I speculate on its mining infrastructure, or maybe also some project that is not in the cryptospace that needs urgent funding.

However, yes they appear to be acting very fast to have their coins sold.

[Ludmilla_rose1995]

I believe that Elon Musk tweets have influenced the rise in asset prices on crypto exchanges, but I don't think it's a bubble. An increase in the price of an asset is dominated by demand and supply. when market demand increases, the price will increase. So, when Elonmusk talks about bitcoin or doge, their fans will buy-in, and investors will also take advantage of the trend to make a profit.

[Wilhelm]

I believe that Elon Musk tweets have influenced the rise in asset prices on crypto exchanges, but I don't think it's a bubble. An increase in the price of an asset is dominated by demand and supply. when market demand increases, the price will increase. So, when Elonmusk talks about bitcoin or doge, their fans will buy-in, and investors will also take advantage of the trend to make a profit.

Pump & dump
Elon is using Doge as an accelerator.

Buy Doge stealthy then promote it and make instant 800% over it.
Inject into Bitcoin and wait for that to go 400%.

So 1M becomes 8M becomes 64M... that’s how you make huge profits...