I coded a bot that buys bitcoin every time Elon Musk tweets about bitcoin and op

[CyberPunkMetalHead]

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What are your thoughts on this, would you try it?
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I definitely will try this.
could you please make a youtube tutorial for this?
I don't really familiar with metatrader software.
I want to try it just for fun.

also, if you could make it more mobile-friendly, it will be useful, for example, a telegram bot maybe.
hmm.. maybe you can set some parameters based on this article.

https://beincrypto.com/what-impact-do-twitter-influencers-have-on-crypto-prices/

Thanks, I will check it out. Yes I will eventually have tutorials posted on YouTube

[darewaller]

I still do not believe that sentiment could be understood like that, I think Elon could be more confusing than people realize and memes could be growing weirder as well. At the end of the day, I still do not feel that this is a good idea, we have seen the first example of Elon tweeting about how Tesla will accept bitcoin payments and then we saw a drop, that is a proof that not every time Elon tweets something the price has to go up.

Of course it wasn't Elons fault because of two things, one is that he is not in charge of everyone's feelings and decisions, he tweeted but people didn't care, and secondly there was 6 billion dollars cashed out of futures so that was a big deal. All of which means that this bot "may" work or may not work, I do not know which one will happen but I still think it is a dangerous mission that should not be done with a lot of money.

[FanEagle]

I didn't understand how that sentiment thing was applied. I am not a coder myself and I am not using this neither because I do not know how to use one even if I checked it, and I am not a coder so those codes do not mean anything to me, I tried to read the guide but the part about sentiment is a bit vague for anyone who doesn't know how to code.

If you were to explain this bot to someone who never coded a single line in their life, how would you describe it?

All the other parts make sense because I am sure you can find a method of buying bitcoin whenever Elon tweets that part makes sense to me, there is nothing too difficult to grasp about the idea, but when you add sentiment to it the shocking part is that there could be a code written to see if a sentiment is positive or negative with a code, that sounds remarkable that we are capable of doing that as humanity.

[Grafen]

I think that there will be no repeated excitement. The second time, nobody will not react to the words of Elon Musk as at first time

[tvplus006]

I think that there will be no repeated excitement. The second time, nobody will not react to the words of Elon Musk as at first time

A tweet left by Elon Musk on April 1 https://twitter.com/elonmusk/status/1377567762919292938 the pro that "SpaceX is going to put a literal Dogecoin on the literal moon" led to a 31% Dogecoin pump. So Elon Musk followers still react to his posts, despite the fact that he was dedicated to April Fools Day

[sana54210]

I think that there will be no repeated excitement. The second time, nobody will not react to the words of Elon Musk as at first time

A tweet left by Elon Musk on April 1 https://twitter.com/elonmusk/status/1377567762919292938 the pro that "SpaceX is going to put a literal Dogecoin on the literal moon" led to a 31% Dogecoin pump. So Elon Musk followers still react to his posts, despite the fact that he was dedicated to April Fools Day

Dogecoin? Sure. Bitcoin? I do not think so. I mean sure tesla buying 1.5 billion dollars worth of bitcoin was a big deal and I would assume anything like that again would increase the price. But I am not sure if he would be really increasing a ton of stuff for people if he just tweeted something like "bitcoin is awesome" or whatever, I don't know what is required to make it happen but I think he can't just write something cool about bitcoin and get it increase like crazy.

Doge on the other hand is a small coin, there is nothing that would make him really change a lot, it's going to be just doge and since it is easy he would tweet and it will skyrocket that's going to be the case for a long time. Obviously doge and bitcoin are different things, I think he could even pump ethereum if he wants and that's second biggest coin, but not bitcoin.

[Twinkledoe]

I still do not believe that sentiment could be understood like that, I think Elon could be more confusing than people realize and memes could be growing weirder as well. At the end of the day, I still do not feel that this is a good idea, we have seen the first example of Elon tweeting about how Tesla will accept bitcoin payments and then we saw a drop, that is a proof that not every time Elon tweets something the price has to go up.

Of course it wasn't Elons fault because of two things, one is that he is not in charge of everyone's feelings and decisions, he tweeted but people didn't care, and secondly there was 6 billion dollars cashed out of futures so that was a big deal. All of which means that this bot "may" work or may not work, I do not know which one will happen but I still think it is a dangerous mission that should not be done with a lot of money.

This is the challenge for the OP's bot. By the way, is he going to update the community if he finished this project and tested it already? And since the tweets are not so often, his bot has a lot of idle time to think about.  Curious if this bot will get at least one right decision when the opportunity comes up. Can this bot makes him rich?

[fullhdpixel]

The bot will open a buy position on bitcoin every time Elon mentions bitcoin in his tweet
Take profit is set to 10% and stop loss to 5%
The bitcoin bot will not place another trade if there is already an active trade (can be adjusted)

Not a bad strategy at all but if you ask me, I would rather prefer to do this manually. I mean I would want the bot to intimate me once Elon Musk has tweeted something about crypto and then I can quickly check what the tweet is, based on how positive or neutral the tweet is, I can then invest and cash out later once the market is hyped up.

But overall a very good idea and indeed the market moves up every time he makes a comment about crypto in general and dogecoin is a prime example of how words and tweets can disrupt the market.

[Oceat]

I don't know if this kind of application would be popular with the masses, since I have a doubt about how it works. Since you are depending on the sentiment of the people with just a single tweet of Elon Musk, you already concluded that the market would work that way. In this kind of market where it's impossible to guess the right price of this unexpected market.

But I prefer the manual method instead of depending on a bot but be cool, someone might use your bot if they see some potential about it.

[tvplus006]

The bot will open a buy position on bitcoin every time Elon mentions bitcoin in his tweet
Take profit is set to 10% and stop loss to 5%
The bitcoin bot will not place another trade if there is already an active trade (can be adjusted)

Not a bad strategy at all but if you ask me, I would rather prefer to do this manually. I mean I would want the bot to intimate me once Elon Musk has tweeted something about crypto and then I can quickly check what the tweet is, based on how positive or neutral the tweet is, I can then invest and cash out later once the market is hyped up.

But overall a very good idea and indeed the market moves up every time he makes a comment about crypto in general and dogecoin is a prime example of how words and tweets can disrupt the market.

You can expect a good profit from such a transaction only if you respond to Musk tweet in a timely manner by opening an order. And if you expect that you will be able to open a trade within a few seconds after Musk writes a post, which is unlikely, then you will still not have an advantage over the bot.

[7788bitcoin]

Doge on the other hand is a small coin, there is nothing that would make him really change a lot, it's going to be just doge and since it is easy he would tweet and it will skyrocket that's going to be the case for a long time. Obviously doge and bitcoin are different things, I think he could even pump ethereum if he wants and that's second biggest coin, but not bitcoin.

I do agree that a tweet from Elon Musk will not make any changes to the bitcoin market and the only time the market rallied is when Tesla invested over a billion dollars and i have not seen the bitcoin market rallying because of his tweets as the market is too big for his funny tweets to get a reaction but as you said Doge will increase whenever he tweets and that cannot be said about ETH as it has a much investor base as well. Only coins with lower market cap can be manipulated with a simple tweet.

[perfect999]

I think that there will be no repeated excitement. The second time, nobody will not react to the words of Elon Musk as at first time

Yes, the excitement and pumping will be lesser but you cannot deny that still, he has a massive impact when he says anything about Bitcoins and people still follow his tweets like crazy so I like the idea of making such a bot. I myself was buying some dogecoins everytime he tweeted about doges so an automatic bot is even better.

A tweet left by Elon Musk on April 1 https://twitter.com/elonmusk/status/1377567762919292938 the pro that "SpaceX is going to put a literal Dogecoin on the literal moon" led to a 31% Dogecoin pump. So Elon Musk followers still react to his posts, despite the fact that he was dedicated to April Fools Day

Wow, wasn't quite aware of it. Thanks for informing. I agree that he still has good hold on the followers although there is no denying that it is getting lesser with each tweet.

On a side note, making April fool's jokes about something he is already shilling hard only makes he think that although it was a joke, he really wanted the price to pump.

[bittick]

I think that there will be no repeated excitement. The second time, nobody will not react to the words of Elon Musk as at first time

This holds truth, can't expect the next tweet would be as impactful as the first tweet, and in each every pump caused by that tweet people losing money aswell because get FOMO'd and they could be elon's tweet lurker aswell. I would not consider using bot to monitor elon's tweet and invest based on it as a serious trading, it's mostly just testing the water.

[pawanjain]

Creating such a bot is quite easy but it is better to get a notification instead of directly buying BTC at that time.
After getting the notification we can decide whether we want to buy bitcoin or not depending on the trend and other factors.

Personally, I think that Elon's tweets just provoke a pump and dump strategy.
I don't take part in pump and dumps which is why I would never use such a bot.

[dimonstration]

I think that there will be no repeated excitement. The second time, nobody will not react to the words of Elon Musk as at first time

This holds truth, can't expect the next tweet would be as impactful as the first tweet, and in each every pump caused by that tweet people losing money aswell because get FOMO'd and they could be elon's tweet lurker aswell. I would not consider using bot to monitor elon's tweet and invest based on it as a serious trading, it's mostly just testing the water.

I do follow him but not in the sense that I will instantly buy everytime he tweeted something, it for sure not to cause much impact than it was before but some may still follow his tweets provided they will watch their fully since it's Elon strategy to create a hype and then dump later on. It will benefit many who do day trading but not those who have bot.

[sayaya17]

Good job because you are very creative and innovative. They make many strategies for trade not to waste opportunities
in gaining profit in trading.  All strategies would be good if it could get a high profit.
Of course everyone will try to create a strategy in order to get a good return in this crypto market.

[2double0]

Creating such a bot is quite easy but it is better to get a notification instead of directly buying BTC at that time.
After getting the notification we can decide whether we want to buy bitcoin or not depending on the trend and other factors.

I second that. Why should I give permissions to a bot to buy BTC without understanding the risks and rewards of that trade when I can be notified anyhow and can take the trade myself? Well, I can also get notified via Twitter if I set push notifications on. 

Personally, I think that Elon's tweets just provoke a pump and dump strategy.
I don't take part in pump and dumps which is why I would never use such a bot.

Agreed to this. Elon Musk is an inspirational person but since he came in crypto, he has changed to becoming a clown of the town as every few days he does something funny like saying something about dogecoin and it pumps up, same for btc. I like when he tweets, not to long but to short those coins because they come back where they begin the show from.

[poodle63]

You can expect a good profit from such a transaction only if you respond to Musk tweet in a timely manner by opening an order. And if you expect that you will be able to open a trade within a few seconds after Musk writes a post, which is unlikely, then you will still not have an advantage over the bot.

True, when it comes to executing code and make order like this bot is like unparalelled by manual work, and assuming if most of people also using bot to create order based on elon's tweet it's easily overtake those peolpe who manually make order after few minutes they heard the news regarding elon tweet.
Overall, to do thing like this, using bot is essential, otherwise be ready to always late in the game.

[doomloop]

This bot is designed to buy bitcoin every time Elon musk tweets about bitcoin with the following parameters:

The bot will open a buy position on bitcoin every time Elon mentions bitcoin in his tweet
Take profit is set to 10% and stop loss to 5%
The bitcoin bot will not place another trade if there is already an active trade (can be adjusted)

Well, this is really nice but everyone has their own ways that they are trading cryptocurrency, not everyone would like to buy bitcoin just because Elon Musk tweeted about it, there are a lot of people who would prefer that they dig in properly and be sure that they are actions they are about to take in their trading is accurate.

But, you still have a good idea and I know you did this because a lot of us believed that Elon Musk’s tweets were part of what pushed bitcoin up. What about this time, does it still work, and has the price been moving up all this while? There are so many things that are being considered when talking about the price of bitcoin and I think you should build your bit in a way that all these things are out into consideration.

[bittick]

Creating such a bot is quite easy but it is better to get a notification instead of directly buying BTC at that time.
After getting the notification we can decide whether we want to buy bitcoin or not depending on the trend and other factors.

I second that. Why should I give permissions to a bot to buy BTC without understanding the risks and rewards of that trade when I can be notified anyhow and can take the trade myself? Well, I can also get notified via Twitter if I set push notifications on. 

I think it's more targeted for people who just want to automate the trading since not all people are in the same time zone like elon musk, his tweet could pop up like in the middle of the night while the person aiming to follow the tweet are in deep slumber. I think notification like that gonna be great as a side feature aswell.