Tesla destroys bitcoin :-[

[hazenyc]

For me it could also have been a coordinated attack. I would like to know whether right before his tweet there were some suspicious shorts on Bitcoin in the market or whether he really posted that message against Bitcoin without letting anyone know in advance.

These things were planned well in advance and Elon is not some innocent little kid like many would like to believe. There is no point in looking at the orderbooks for Bitcoin, as BTC is very difficult to manipulate. If you really want to find out who benefitted from this, then I would advice you to check the exchanges where Dogecoin is being traded. For the past several months, whales have been accumulating DOGE. And the price was being kept artificially at a high level, even before this tweet. It is possible to manipulate a coin such as DOGE, which has very low liquidity. But the same is not possible with a cryptocurrency such as Bitcoin.

Why then did Bitcoin literally crash after his post that Tesla won't accept Bitcoin anymore? Isn't that manipulation per definition? I would say so. If some guys placed shorts with leverage 100x shortly before Musk made that Tweet, you can imagine how much they made from that. Bitcoin lost like 12% or so? 100x that 12% and give it a $10 million underlying... That's a lot of money!

[1715338287]

1715338287

[1715338287]

1715338287

[bakasabo]

Why then did Bitcoin literally crash after his post that Tesla won't accept Bitcoin anymore? Isn't that manipulation per definition? I would say so.

Why do people get manipulated so easily? Bitcoin is not about Tesla. Ok, people no longer can buy car with a Bitcoin. So was? Not everyone dreamed to do it. This is not a manipulation, but herd instinct. One dumb started making big deal from it, other pumped that, which caused to a panic sale. I dont even think that many has bought tesla using Bitcoin. From my point of view, this is not a manipulation, but shortsightedness of some individuals.

[eXtremal]

Elon Musk has been bessed to his true nature, his arrival with bitcoin was just to do a short pump, and in the end they broke him - this cost new people a lot of money. I hope the market recovers soon, or Elon Musk won't be trusted by many anymore.

[eXtremal]

It might be a big deal today but tomorrow it won't be.

You know why? because bitcoin is known to be one of the most resilient assets that we ever had. Just compare this when Microsoft had also announced the same before.

But what's with it right now? looks like nothing happened and bitcoin continued to thrive.

Bitcoin will continue to grow, even if Elon Musk stays out of bitcoin. I prefer healthy bitcoin growth, technologically evolving and then rising slowly, rather than a hard pump, and so will it. Elon Musk just came to hype. After a few days they suspended the payment of bitcoins and then they confirmed they had not sold any bitcoins. But, no one knows the truth, I hope the market recovers soon, and Tesla is right to support the development of bitcoin in the absence of an unhealthy strategy.

[eXtremal]

The decline in the price of bitcoin is not that big. you have never felt a decline in bitcoin price by 80 - 100% and followed by a decline in other altcoins. If you panic about today's decline, you should stop investing.

Before entering cryptocurrency trading we have been reminded that cryptocurrency investment is fraught with risk. They're the ones coming in because of Elon Musk, it's only natural that they're upset with Elon Musk. However, I have experienced bitcoin fall even Cut loss at 80% in 2018, I hope 2018 will never happen again.

[tabas]

Tesla pursues profits, Musk is manipulating the market, this is not good.

It is not good and there's another latest news about him being one of the richest.
Elon Musk is No Longer the World's 2nd-Richest Person After Tesla Shares Lost a Quarter in Value Since January

[Mika220]

Tesla pursues profits, Musk is manipulating the market, this is not good.

It is not good and there's another latest news about him being one of the richest.
Elon Musk is No Longer the World's 2nd-Richest Person After Tesla Shares Lost a Quarter in Value Since January

I wonder if he can add the option of buying Tesla for the DOGE he likes so much

[Shasha80]

As far as I can see, Bitcoin is not destroyed. It is still thriving, although the exchange rates have dipped below $50K. Elon should worry about his crappy Tesla EVs. From what I heard, a number of major automobile manufacturers are going to enter the EV sector in a big way. There will be more competition, and there is a chance that the overpriced Tesla cars will be destroyed soon by other manufacturers such as Toyota and Volkswagen.

He might just diverting and trying to collect more cheap coins if that competition is on it's way Musk are preparing for much
wider participations might be bringing something big to this industry.

We can't conclude what inside is mind for now we are seeing impacts from whatever move he's doing along the way, but sooner
or later it will reveal what his real position.

It is possible that what Elon Musk and Tesla did not to destroy Bitcoin, because even Elon Musk certainly understands that it is impossible
to destroy Bitcoin. According to my prediction Elon Musk did that to make the Bitcoin price fall, and it proved that what he did worked,
because the Bitcoin price fell below $ 50k. So Elon Musk will take advantage of this moment to buy Bitcoin at a low price, as you say sooner
or later it will reveal Elon Musk's true position.

[iTradeChips]

As far as I can see, Bitcoin is not destroyed. It is still thriving, although the exchange rates have dipped below $50K. Elon should worry about his crappy Tesla EVs. From what I heard, a number of major automobile manufacturers are going to enter the EV sector in a big way. There will be more competition, and there is a chance that the overpriced Tesla cars will be destroyed soon by other manufacturers such as Toyota and Volkswagen.

He might just diverting and trying to collect more cheap coins if that competition is on it's way Musk are preparing for much
wider participations might be bringing something big to this industry.

We can't conclude what inside is mind for now we are seeing impacts from whatever move he's doing along the way, but sooner
or later it will reveal what his real position.

It is possible that what Elon Musk and Tesla did not to destroy Bitcoin, because even Elon Musk certainly understands that it is impossible
to destroy Bitcoin. According to my prediction Elon Musk did that to make the Bitcoin price fall, and it proved that what he did worked,
because the Bitcoin price fell below $ 50k. So Elon Musk will take advantage of this moment to buy Bitcoin at a low price, as you say sooner
or later it will reveal Elon Musk's true position.

Do you think that after the dip, he will be able to manipulate the market further and made a change heart now saying nice words about Bitcoin? I mean there is this chance that he will buy bitcoins at this dip and then after the dip he will try to do things so that bitcoin's price will increase? I mean people, many people doesn't like what he did in the market. So I think there will be another person who will suddenly say good things, another billionaire or maybe the Queen of England perhaps, all of them might be in the same game and bought bitcoins, then one will tweet and the whole world will scramble again.

[iwantmyhomepaidwithbtc]

As far as I can see, Bitcoin is not destroyed. It is still thriving, although the exchange rates have dipped below $50K. Elon should worry about his crappy Tesla EVs. From what I heard, a number of major automobile manufacturers are going to enter the EV sector in a big way. There will be more competition, and there is a chance that the overpriced Tesla cars will be destroyed soon by other manufacturers such as Toyota and Volkswagen.

He might just diverting and trying to collect more cheap coins if that competition is on it's way Musk are preparing for much
wider participations might be bringing something big to this industry.

We can't conclude what inside is mind for now we are seeing impacts from whatever move he's doing along the way, but sooner
or later it will reveal what his real position.

It is possible that what Elon Musk and Tesla did not to destroy Bitcoin, because even Elon Musk certainly understands that it is impossible
to destroy Bitcoin. According to my prediction Elon Musk did that to make the Bitcoin price fall, and it proved that what he did worked,
because the Bitcoin price fell below $ 50k. So Elon Musk will take advantage of this moment to buy Bitcoin at a low price, as you say sooner
or later it will reveal Elon Musk's true position.

Yes I 100% agree with you. He will do the same with DOGE one day.

This guy is just looking for some $$$ more. In my humble opinion, that's ridiculous to manipulate markets with the goal of earning dollars, when you are actually one of the richest man on earth.

[tabas]

Tesla pursues profits, Musk is manipulating the market, this is not good.

It is not good and there's another latest news about him being one of the richest.
Elon Musk is No Longer the World's 2nd-Richest Person After Tesla Shares Lost a Quarter in Value Since January

I wonder if he can add the option of buying Tesla for the DOGE he likes so much

Probably won't happen. Because if he loves Doge so much, it would be the first to be added as an accepted cryptocurrency. But it seems that it's the best option that he can make.

Yes I 100% agree with you. He will do the same with DOGE one day.

This guy is just looking for some $$$ more. In my humble opinion, that's ridiculous to manipulate markets with the goal of earning dollars, when you are actually one of the richest man on earth.

That's right, if he knows best about bitcoin, he's doing it accumulate more or there could be the other truth that he's just really here to manipulate the market if he cannot entirely destroy it.

[PeRo]

That hasn't even made tha much of an impact on the price, it did make a drop but what is decreasing the price rapidly is the panic made when it dropped after that event. People started panic selling and made the price drop even lower than it could have. It would have dropped at some point no matter what, so this isn't a big deal it just made it faster and earlier than expected.

[TastyChillySauce00]

Is Tesla to blame for this? Or is it really something else?

I think partly deserve the blame but honestly if we're being real here, the market shouldn't be that easily manipulated by a company, I mean the market cap of bitcoin itself is really high as well as the bitcoin volume. most of the time that allows whales to manipulate the market is when they build opinion on many people on how the market should be whether bearish or bullish and that's unbearable for us who just following the market. Tesla dumping 1.5billion should leave some kind of dump in the market but shouldn't be as big as the current dump, after all the current dump heavily influenced by elon making some opinion against btc.

[repear7]

What a title buddy! Just listen, BTC is a strong and popular cryptocurrency. Tesla can't destroy btc. Tesla and musk invested on btc for making profit and they hit on their target.

[Fredomago]

Is Tesla to blame for this? Or is it really something else?

I think partly deserve the blame but honestly if we're being real here, the market shouldn't be that easily manipulated by a company, I mean the market cap of bitcoin itself is really high as well as the bitcoin volume. most of the time that allows whales to manipulate the market is when they build opinion on many people on how the market should be whether bearish or bullish and that's unbearable for us who just following the market. Tesla dumping 1.5billion should leave some kind of dump in the market but shouldn't be as big as the current dump, after all the current dump heavily influenced by elon making some opinion against btc.

Partly indeed and what about China's banning crypto? for sure that really create impacts to what happened, lots of investos fears to lose more money so they rush selling their assets.

Fuds really hurting this market, if you failed to work with your research you'll also feel the same way, fearing that the crashed will damage more from your investment, cutting losses will also came to you as back up.

Forget about those news if you are into long term investment, Bitcoin already gained interest from more people around the world
expect that it will bounce back and rise for more.

[Mika220]

Tesla pursues profits, Musk is manipulating the market, this is not good.

It is not good and there's another latest news about him being one of the richest.
Elon Musk is No Longer the World's 2nd-Richest Person After Tesla Shares Lost a Quarter in Value Since January

I wonder if he can add the option of buying Tesla for the DOGE he likes so much

Probably won't happen. Because if he loves Doge so much, it would be the first to be added as an accepted cryptocurrency. But it seems that it's the best option that he can make.

Yes I 100% agree with you. He will do the same with DOGE one day.

This guy is just looking for some $$$ more. In my humble opinion, that's ridiculous to manipulate markets with the goal of earning dollars, when you are actually one of the richest man on earth.

That's right, if he knows best about bitcoin, he's doing it accumulate more or there could be the other truth that he's just really here to manipulate the market if he cannot entirely destroy it.

Today he again manipulated the market with a post about DOGE

[nightrider]

Right. The owner of Tesla said that he did not accept electric car transactions with Bitcoin, immediately this virtual currency lost thousands of dollars in value. By making a big impact on the bitcoin market, Tesla is destroying this market when it can let bitcoin peak and go downhill without brakes. It is dangerous to let Tesla control the bitcoin market. We need to have a proper solution against Tesla.

[tabas]

~snip~

Today he again manipulated the market with a post about DOGE

Just as the usual routine he goes. He'll always do that because he enjoys it and there's an advantage for him. And the market is just going with it and reacts the way he wants it.
It's better to stop following him if you are quite exhausted with what he does.

[samsul1234]

Bitcoin Plunges as Tesla Halts BTC Payments Over Environmental Concerns
Inexplicably, after this event, Really after this event, I feel shaken; if only relying on media to grow, bitcoin will collapse at some point!

https://www.coindesk.com/bitcoin-tesla-50k-environment-concerns

hello sir, this is bad news, I see bitcoin is still bleeding and always going down will bitcoin repeat its gloomy period, we all hope and hope bitcoin is fine, some of my assets are still in bitcoin and now bitcoin is sick

[wmark]

Incredible how much of an impact one man can make on a whole industry