Elon Musk really has the ability to manipulate the bitcoin market

[YanBitMoney]

Haha, just like I said in the previous post, Elon Musk really has the ability to manipulate the bitcoin market, just follow him at least for the moment. But this wouldn't last long; they started to hate him.
At least if you go short, you also have some money. In this market, the more you panic, the more you lose money.
https://medium.com/snapbots-news/snapbots-news-review-elon-musk-suggests-teslas-sale-of-bitcoin-market-drop-again-cb7078dc8f00

[Rruchi man]

His one word reply "Indeed" has really sent the price further downward. A great opportunity for those who don't have enough btc in their hold to get more, investors on the other hand like this my friend on WhatsApp who is loosing money is screaming for Elon musk to shut up and stop tweeting.

[YanBitMoney]

His one word reply "Indeed" has really sent the price further downward. A great opportunity for those who don't have enough btc in their hold to get more, investors on the other hand like this my friend on WhatsApp who is loosing money is screaming for Elon musk to shut up and stop tweeting.

how much money did you just lose? lol

[ropyu1978]

with the large amount of money elon musk, it turns out that elon musk really has the ability to manipulate the bitcoin market, hundreds of billions of United States dollars are lost, after Tesla, Elon Musk announced the discontinuation of using bitcoin to buy Tesla electric cars ,,
but I believe this is only temporary ,, in the future bitcoin will definitely get better again, we just need to be patient bro, we bitcoin fighters will definitely not give up bro

[BayAreaCoins]

The "Bitcoin market" consists of about... 20 sketchy flip floppy Venture Capitalist  (minus the Winkle Voss twins).  Try trading Bitcoin today in person... it's basically impossible, but these services will swallow it up

That's not a great market despite being able to get rich off their gay stock market money.

Bitcoin was far better off $100-$1000 traded by a TON of hustlers and a few brave VC's trying to get rich off the drug and prostitution markets.

Bitcoin isn't designed to scale well for the hustlers (centralizedish mining spamming the network to juice people for their fees)... it's great for a few dumb ass people like Jack Dorsey and Co who are willing to pay for everyones fees to withdraw off their shitty sketchy half ass apps.

Bitcoin is long over due for a price correction and some principle changes that accommodate more users on the network without milking them dry miner fee wise.

[Sanugarid]

Haha, just like I said in the previous post, Elon Musk really has the ability to manipulate the bitcoin market, just follow him at least for the moment. But this wouldn't last long; they started to hate him.
At least if you go short, you also have some money. In this market, the more you panic, the more you lose money.
https://medium.com/snapbots-news/snapbots-news-review-elon-musk-suggests-teslas-sale-of-bitcoin-market-drop-again-cb7078dc8f00

Most people use Elon Musk's tweets as an indicator of where should they invest and how much a coin will pump for a short period of time. Technical analysis? There's no need for that, just always be notified whenever Elon tweets about Cryptocurrency lol. He's really influential to the crypto market just by his tweets BTC market price pumps to something unexpected so we should expect something like this would happen.

[Cryptomiles1]

Elon is just a potential investor and anytime he wanna make some profit he could come panic about a particular coin for him to make his profit and whenever he wanna buy he will also come make some silly play about the coin and people will dump then he buys at cheap price, after some months of hodl he will come make another post then people will jump-in then he sells. I don't follow his tweet anymore.

[LekksanderPerko]

Elon showed a lot but only fools believed it.

The best features are that bitcoin is not legally regulated against speculation like other markets.

He made an ad that showed what group of people have a large financial contribution to the bitcoin exchange. Which means you can get even more money from them.

[decodx]

Musk posted his tweet "Tesla hasn't sold any Bitcoin" today, just as $BTC tested the 38.2% Fibonacci retracement level. So, the price bounced perfectly of the major support.

Could this be a manipulation or just a coincidence?

[Hydrogen]

Markets are influenced more by news and recent events. Than they are by natural market mechanics. Its the reason market mechanic based paradigms like technical analysis, AI trading bots and stock to flow models are no longer considered valid in some circles. News stories published about quantum computers and tweets made by Elon Musk influence markets far more than traditional indicators like market cap, volume or P/E ratios. Its been this way for a very long time.

I for one don't have issues with Elon Musk posting on social media. Many of his posts are good information to those few who comprehend what they mean.

What do people think when they see Elon Musk pro bitcoin one week and anti bitcoin the next? There are good explanations for it that indicate ways in which the world is changing.

[hatshepsut93]

This isn't for long, sooner or later the market will tire of it. Also, he's only able to do it because the market is in bull run so it's sensible to the news. When Elon was tweeting about BTC in the past years, it barely flinched. This just shows how much of the price today is based on psychology and speculation rather than strong fundamentals.

Maybe after Dogecoin will crash, which is bound to happen soon, Elon will lose interest in crypto and we will all move on.

[Kasabus]

This isn't for long, sooner or later the market will tire of it. Also, he's only able to do it because the market is in bull run so it's sensible to the news. When Elon was tweeting about BTC in the past years, it barely flinched. This just shows how much of the price today is based on psychology and speculation rather than strong fundamentals.

Maybe after Dogecoin will crash, which is bound to happen soon, Elon will lose interest in crypto and we will all move on.

Things really change when Elon entered crypto. But still we should be thankful because  he made bitcoin hyped before and so it reaches another peak price. But when Elon tweeted on Dogecoin, bitcoin price has suddenly dropped. And so haters for Elon have started to appear.

But they say all these things are temporary. Just like how unpredictable this crypto market is. Elon will soon to stop all these messy things and all those crazy manipulations. Crypto will be back to normal again and bitcoin will soon to regain its strong fundamentals.

[Darker45]

This is still the wild wild west, after all. And Elon is so influential a figure that his statements, whether true or not, mean a lot to the market. Not to mention that he's got the money, too, to actually direct the price movement to a certain extent.

But it cannot be like this forever. Whether or not Elon would continue to blabber over Twitter, people would soon begin to see how ridiculous things are doing and whatever Elon says would have less and less effect to the market.

[magneto]

Haha, just like I said in the previous post, Elon Musk really has the ability to manipulate the bitcoin market, just follow him at least for the moment. But this wouldn't last long; they started to hate him.
At least if you go short, you also have some money. In this market, the more you panic, the more you lose money.
https://medium.com/snapbots-news/snapbots-news-review-elon-musk-suggests-teslas-sale-of-bitcoin-market-drop-again-cb7078dc8f00

At least Musk is generating publicity for BTC and brought it somewhat mainstream with retail investors, which will only be for bitcoin's benefit in the very long run.

However, in the short run, I don't think there is any point in following what he says anymore. He's gone a bit rogue much like Trump's tweeting.

It's not a great look for him, or for TSLA and its shareholders, that he's constantly singing a different tune on various speculative investments. How he can go from investing $1.5b in BTC one day to rejecting it as an environmental antagonist is beyond me. The only explanation is market manipulation.

[Sithara007]

At least Musk is generating publicity for BTC and brought it somewhat mainstream with retail investors, which will only be for bitcoin's benefit in the very long run.

However, in the short run, I don't think there is any point in following what he says anymore. He's gone a bit rogue much like Trump's tweeting.

It's not a great look for him, or for TSLA and its shareholders, that he's constantly singing a different tune on various speculative investments. How he can go from investing $1.5b in BTC one day to rejecting it as an environmental antagonist is beyond me. The only explanation is market manipulation.

I am in two minds about this. First of all, Bitcoin has moved past that stage, where any sort of publicity was good. Now cryptocurrency sector is worth $2 trillion plus and we can afford to be more selective. That said, it will be good to end this manipulation by Elon once and for all. This time he has managed to crash Bitcoin prices by 25%-30%. But the dip is a temporary phenomenon and I hope we will be back to $50K very soon. The next time Elon's tweets won't have much impact on the market, because we all know about his intention.

[buietaw]

Someone should stop this guy   I think a serious sanction should be applied. He seriously manipulates the market because. He will find other projects soon. I believe it. He must have shelved all his projects. Because he found a faster method of earning 

[Xinarae*]

Elon Musk raises its price through bitcoin investments but does not have the power to make the bitcoin market effective because no one can control bitcoin. Tesla mainly makes electric battery and solar powered cars the demand for alternative powered cars is increasing day by day due to global warming and rising oil prices in the international market tesla's assets are also increasing with it. With the company's income by investing in bitcoin there is nothing to be disappointed about if the demand for bitcoin increases the price will go up.

[electronicash]

all he needs are the money and the followers to fool around the market but where does it go after this? because in the end it just creates popularity for Bitcoin. if he messes around for long, he could just bring more people in the market that he is interested in trolling. look around how the media covers dogecoin and bitcoin.

he can hurt the market of course, he may be winning for now but in the long run, it will get better since BTC had come a long way to achieve the biggest network.

[AniviaBtc]

His one word reply "Indeed" has really sent the price further downward. A great opportunity for those who don't have enough btc in their hold to get more, investors on the other hand like this my friend on WhatsApp who is loosing money is screaming for Elon musk to shut up and stop tweeting.

Chill bro, you have nothing to do with that but to wait, he is a big investor compared to us.

It is okay to rant about him playing with the market and parting ways with bitcoin but we just really need to deal with it.

Elon Musk will probably do anything for himself just to make his investment profitable for him. He can setup a hype, he can play with market, and also he can make us suffer.

[iamsheikhadil]

with the large amount of money elon musk, it turns out that elon musk really has the ability to manipulate the bitcoin market, hundreds of billions of United States dollars are lost, after Tesla, Elon Musk announced the discontinuation of using bitcoin to buy Tesla electric cars ,,
but I believe this is only temporary ,, in the future bitcoin will definitely get better again, we just need to be patient bro, we bitcoin fighters will definitely not give up bro

Nope, the reason given by Tesla/Elon on why they will discontinue accepting crypto is very strange, they said it's for environmental issues and energy losses due to mining, which is kind of direct attack on the fundamental of Bitcoin itself. Technically, I think OP is right, Elon was probably manipulating all till now and have no vision on it for future, which is just my opinion though seeing their statements and analysing them.