Elon Musk really has the ability to manipulate the bitcoin market

[tyz]

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

Elon Musk is a master at selling stories. The same thing happened with Tesla. Tesla's stock has been extremely expensive for many years and yet he always manages to keep investors happy and believing the big story. He may be right, the future will show, but he takes away the investors' fear of risk.
And the same thing is now repeating itself in the crypto market. Some call it manipulation, others an overdue development.

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[suzanne5223]

Elon Musk can manipulate the market but this ability won't last forever cause people only follow his tweet because of his spot in the world engineering and world richest man alive, I don't know if you have joined the crypto market during the previous ATH market when McAfee also have the same ability which he later looses when he started to abuses his ability the same thing will happen to Elon. Besides, I once read in an article that's losing his tweet power these days.

[Midy]

Most people do not analyze or think long about the negative information circulating in the cryptocurrency world, therefore many people like Elon Musk take advantage of moments like this to reap the maximum profit.
The biggest key to investing in cryptocurrency is patiently waiting for the right moment to buy and sell it

[conected]

Elon Musk can manipulate the market but this ability won't last forever cause people only follow his tweet because of his spot in the world engineering and world richest man alive, I don't know if you have joined the crypto market during the previous ATH market when McAfee also have the same ability which he later looses when he started to abuses his ability the same thing will happen to Elon. Besides, I once read in an article that's losing his tweet power these days.

- Agree, everyone's eyes and analytical ability are not a joke and have no value, behaviors are so frequent, it is always an easy point for others to suspect and when the hidden story is brought to light, these powers will no longer be valid. Finally,this world does not lack people who are full of elements such as Elon Musk, once Elon Musk's tweet has a collision and opposes the development of these people,they will do the same, attack back and erase the bad ideas of Elon Musk

[Ultegra134]

He is clearly a manipulator or facilitates other manipulators to act. Before he posted his first tweet about accepting Bitcoin as payment of TESLA value per Bitcoin over $60k. After the Bitcoin price drop happened, Elon Musk took steps to appease and the Bitcoin price surged again. I have saved some links of tweets in the links below, please follow along.

Talking about stopping accepting Bitcoin to pay for Tesla's electric cars
https://twitter.com/elonmusk/status/1392602041025843203

"The true battle is between fiat & crypto. On balance, I support the latter"
https://twitter.com/elonmusk/status/1396049547680391168

"Spoke with North American Bitcoin miners. They committed to publish current & planned renewable usage & to ask miners WW to do so. Potentially promising."
https://twitter.com/elonmusk/status/1396914548167233537

I just saw the third tweet, chances are, that he'll claim that Bitcoin miners are turning green, using renewable energy resources and Bitcoin is now environmentally friendly! On top of that, he'll soon return BTC as a form of payment for Tesla cars, not that anyone is going to use it, but it's going to be those important influential news that affect the market creating a huge hype. Yup, we've seen it in the past, and we're definitely seeing it again.

[bengsabeng]

he does not completely control the market with his money, but he also controls the market by manipulating the minds of his followers. this person has nearly 60 million followers on twitter, certainly not a difficult thing for him to do that.

[TheGreatPython]

Until now I had seen that the BTC market behaves that way, because from 2014 to 2017 I saw that there was an accumulation stage, after 2018 to 2021, but we are not in the uptrend at all because due to the corrections we could be talking. about a sharp drop before a possible reaccumulation stage is generated, which is quite ingenious, in this market we have not had reaccumulation yet.

But since it can be said that the Accumulation stage usually lasts 3 years, it is likely that by the 4th year benefits will already be obtained, this is what also differs from the Stock Market, since in the Stock Market the important movements are usually every 8 to 10 years, this is why the BTC market is so superior to regret that it has no backing. For now I don't think that Elon Musk has the same market manipulation power anymore, I think that he doesn't have that power.

Accumulation stage probably doesn't happen for that long, because we see a ton of drop during those periods as well and you do not see a ton of drops during accumulation stage. What we call accumulation is when people buy small and insignificant amount not to increase the price too much but do it constantly, so if you buy 500k dollars worth of bitcoin for 100 days you have 50 million dollars worth of bitcoin, do that for 300 days and you got yourself 150 million dollars worth of bitcoin (obviously price would change during that period as well).

This means price wouldn't crash all that much, but it wouldn't increase all that much, we have accumulators who keeps the price not too low but not too high. I believe we have one crash, one recovery, one accumulation, one profit cycle and it happens back to back as well, that's why I think we will have crash next trend, no idea when it will happen.

[nurilham]

he does not completely control the market with his money

Who said Elon Musk totally controls the crypto market? Till today, I never saw any member stated it. It is only on your preception, no one agrees that Elon has the ability to control the crypto market fully.

he also controls the market by manipulating the minds of his followers. this person has nearly 60 million followers on twitter

He can influence others because he is one of the popular people in the world. Moreover, he has millions of followers on his social media, especially on tweeter. But it seems not to happen a long time, bro. Right now, most people already realize if he has the intention to manipulate the crypto market with his tweets. In the future, what he tweets, people probably don't care about it.

[Dollar_Hunter]

he does not completely control the market with his money, but he also controls the market by manipulating the minds of his followers. this person has nearly 60 million followers on twitter, certainly not a difficult thing for him to do that.

You could say he really can control everything and indeed it's not something that is impossible for Elon Musk,
because indeed Elon Musk is one of the richest people in the world,
with what he did there seemed to be a lot of people who hated him

[bittick]

he does not completely control the market with his money, but he also controls the market by manipulating the minds of his followers. this person has nearly 60 million followers on twitter, certainly not a difficult thing for him to do that.

Any other influencer with such amount could influence the market but not as influental as elon musk. I see the scale of elon's influence in crypto is definitely abnormal, it reminds me of other billionaires that has commented about crypto and no one actually care but elon with just one word everyone going crazy, why? because he's deemed as someone who is proficient in technology, therefore many people who know crypto also follow him. Not difficult thing for elon but definitely not easy as well for other influencers. Elon just has the charm for this kind of thing related to technology due to his company tesla and spacex.

[romero121]

he does not completely control the market with his money, but he also controls the market by manipulating the minds of his followers. this person has nearly 60 million followers on twitter, certainly not a difficult thing for him to do that.

You could say he really can control everything and indeed it's not something that is impossible for Elon Musk,
because indeed Elon Musk is one of the richest people in the world,
with what he did there seemed to be a lot of people who hated him

It isn't Elon Musk, person with huge volume of holdings has the ability to manipulate the market. This is why at times there is controversy that bitcoin too is turning to be centralized.

Elon Musk being popular helped him manipulate the market with ease. As said in the above post there is lots and lots of hatred over him, same time there is lot of traders who were praising him. Because, the large scale fluctuation after a long brought them good profit in a short time period.

[Ultegra134]

he does not completely control the market with his money

Who said Elon Musk totally controls the crypto market? Till today, I never saw any member stated it. It is only on your preception, no one agrees that Elon has the ability to control the crypto market fully.

he also controls the market by manipulating the minds of his followers. this person has nearly 60 million followers on twitter

He can influence others because he is one of the popular people in the world. Moreover, he has millions of followers on his social media, especially on tweeter. But it seems not to happen a long time, bro. Right now, most people already realize if he has the intention to manipulate the crypto market with his tweets. In the future, what he tweets, people probably don't care about it.

I don't think anyone mentioned that he is controlling the market, that's the wrong word to use. Manipulating is the correct one. He's got millions of followers on Facebook and Twitter, who are closely monitoring what his next announcement will be, and then proceed to do what he says.

Supposing that he sends a tweet, as we speak, and announces that Tesla will now accept Dogecoin payments, then a large portion of his followers will blindly purchase Doge, just because Musk announced something positive about it. Does that remind you of something? Yup, exactly how Doge was pumped, Musk sent out a single tweet and BOOM! Dogecoin to the moon.

[ultrloa]

he does not completely control the market with his money

Who said Elon Musk totally controls the crypto market? Till today, I never saw any member stated it. It is only on your preception, no one agrees that Elon has the ability to control the crypto market fully.

he also controls the market by manipulating the minds of his followers. this person has nearly 60 million followers on twitter

He can influence others because he is one of the popular people in the world. Moreover, he has millions of followers on his social media, especially on tweeter. But it seems not to happen a long time, bro. Right now, most people already realize if he has the intention to manipulate the crypto market with his tweets. In the future, what he tweets, people probably don't care about it.

I don't think anyone mentioned that he is controlling the market, that's the wrong word to use. Manipulating is the correct one. He's got millions of followers on Facebook and Twitter, who are closely monitoring what his next announcement will be, and then proceed to do what he says.

Supposing that he sends a tweet, as we speak, and announces that Tesla will now accept Dogecoin payments, then a large portion of his followers will blindly purchase Doge, just because Musk announced something positive about it. Does that remind you of something? Yup, exactly how Doge was pumped, Musk sent out a single tweet and BOOM! Dogecoin to the moon.

Manipulating = controlling so we can also call that since the purpose on what he do is to control the market by making his follower follow what he likes for the day and he's successfully doing a great job on this so expect more shit comes to him in future since he already see the potential to earn millions of dollars for just a single tweet made by him.

[LogitechMouse]

The total market cap of the US Stock market is ~$95 trillion base on a quick google search.
If you will see that, that is a very huge market cap but still there are some who can manipulate it like what happened in Gamestop and AMC.

This just shows that the market cap of the cryptocurrency is smaller by ~95 times compare to the US Stock Market. A few whales is what we need and they can do whatever they want. That is how powerful they are. Add also the power of Elon Musk. He is a rich businessman already and aside from that, he is also a huge influencer to the point that his tweets have very huge effects on the market. Elon has the ability to manipulate it because he has the money and the fame to do it. That is one of the downsides of a young market like the crypto market .

All of that disappeared when he went against Bitcoin and just one tweet changed everything . I assume that the number of people following him decreased drastically.

[Ultegra134]

he does not completely control the market with his money

Who said Elon Musk totally controls the crypto market? Till today, I never saw any member stated it. It is only on your preception, no one agrees that Elon has the ability to control the crypto market fully.

he also controls the market by manipulating the minds of his followers. this person has nearly 60 million followers on twitter

He can influence others because he is one of the popular people in the world. Moreover, he has millions of followers on his social media, especially on tweeter. But it seems not to happen a long time, bro. Right now, most people already realize if he has the intention to manipulate the crypto market with his tweets. In the future, what he tweets, people probably don't care about it.

I don't think anyone mentioned that he is controlling the market, that's the wrong word to use. Manipulating is the correct one. He's got millions of followers on Facebook and Twitter, who are closely monitoring what his next announcement will be, and then proceed to do what he says.

Supposing that he sends a tweet, as we speak, and announces that Tesla will now accept Dogecoin payments, then a large portion of his followers will blindly purchase Doge, just because Musk announced something positive about it. Does that remind you of something? Yup, exactly how Doge was pumped, Musk sent out a single tweet and BOOM! Dogecoin to the moon.

Manipulating = controlling so we can also call that since the purpose on what he do is to control the market by making his follower follow what he likes for the day and he's successfully doing a great job on this so expect more shit comes to him in future since he already see the potential to earn millions of dollars for just a single tweet made by him.

I'd say that manipulating is an indirect way of controlling the market then, I mean by definition it's something different, but I get what you're saying. Of course and he is doing everything on purpose, he is both trolling and making money at the same time, on top of that, he might be laughing his a$$ off with the current situation.

I don't think crypto is done for Musk either, he'll return soon enough, in an effort to manipulate the market once again.

[carlisle1]

he does not completely control the market with his money, but he also controls the market by manipulating the minds of his followers. this person has nearly 60 million followers on twitter, certainly not a difficult thing for him to do that.

You could say he really can control everything and indeed it's not something that is impossible for Elon Musk,
because indeed Elon Musk is one of the richest people in the world,
with what he did there seemed to be a lot of people who hated him

His followers are the one who moved the market, Musk sparks it up then his readers are the one who really responsible.

If those people behind him are just thinking and not doing things blindly, even he's one of the riches person in the world,
he can't do nothing.

Any action that investors and traders are doing is there responsibilities and not by anyone,
Always do your DYOR it will save you a lot from people like Elon Musk.

[Ultegra134]

he does not completely control the market with his money, but he also controls the market by manipulating the minds of his followers. this person has nearly 60 million followers on twitter, certainly not a difficult thing for him to do that.

You could say he really can control everything and indeed it's not something that is impossible for Elon Musk,
because indeed Elon Musk is one of the richest people in the world,
with what he did there seemed to be a lot of people who hated him

His followers are the one who moved the market, Musk sparks it up then his readers are the one who really responsible.

If those people behind him are just thinking and not doing things blindly, even he's one of the riches person in the world,
he can't do nothing.

Any action that investors and traders are doing is there responsibilities and not by anyone,
Always do your DYOR it will save you a lot from people like Elon Musk.

Musk was the spark of the hype, but let's get real here. A lot of people profited from this hype, especially Dogecoin's, it skyrocketed and possibly made people millionaires within a few days. Musk of course, is a market a manipulator, I do not disagree on that, but what he did wasn't solely negative nor a direct product of his own actions, he's not evil by any means.

After posting about Doge, people rushed to buy, driving the price to unbelievable levels, some might have lost money during that time, but I guarantee you that many have made quite a few grand.

[nurilham]

I don't think anyone mentioned that he is controlling the market, that's the wrong word to use. Manipulating is the correct one.

Yes, you are right. No one mentioned Elon Musk has controlled the crypto market. He has no ability to control the crypto market or crypto industry. It is a decentralized system, so no institution or no one can control the crypto market. The changes in crypto prices should be based on the supply-demand in the market. It is purely the impact of traders' activity in the market. So, what Elon Musk does, is only trying to manipulate the crypto market.

[Gunday_07]

Yes it's true that Elon Musk have the power to manipulate the whole crypto market but mind you it will get to a stage where by every investors will not take him serious anymore and his almighty tweets won't make any impact on the market again, we've seen this happened in the past years, once people noticed that he is manipulating the market for his own gains it's over

[LUCKMCFLY]

Until now I had seen that the BTC market behaves that way, because from 2014 to 2017 I saw that there was an accumulation stage, after 2018 to 2021, but we are not in the uptrend at all because due to the corrections we could be talking. about a sharp drop before a possible reaccumulation stage is generated, which is quite ingenious, in this market we have not had reaccumulation yet.

But since it can be said that the Accumulation stage usually lasts 3 years, it is likely that by the 4th year benefits will already be obtained, this is what also differs from the Stock Market, since in the Stock Market the important movements are usually every 8 to 10 years, this is why the BTC market is so superior to regret that it has no backing. For now I don't think that Elon Musk has the same market manipulation power anymore, I think that he doesn't have that power.

Accumulation stage probably doesn't happen for that long, because we see a ton of drop during those periods as well and you do not see a ton of drops during accumulation stage. What we call accumulation is when people buy small and insignificant amount not to increase the price too much but do it constantly, so if you buy 500k dollars worth of bitcoin for 100 days you have 50 million dollars worth of bitcoin, do that for 300 days and you got yourself 150 million dollars worth of bitcoin (obviously price would change during that period as well).

This means price wouldn't crash all that much, but it wouldn't increase all that much, we have accumulators who keeps the price not too low but not too high. I believe we have one crash, one recovery, one accumulation, one profit cycle and it happens back to back as well, that's why I think we will have crash next trend, no idea when it will happen.

You are right, one of the reasons why I know that there is no downtrend stage is because of the millionaries wallets, since they have not moved much, at least those of 100-1000BTC, in the uptrend of 2017- In 2018 , these percentages reached almost 80%, that's when I realized that we were already in an uptrend and then the Distribution stage passed, which was very fast and eventually entered the downtrend stage, of course this happened portfolios millionaires is not a guarantee, but it is a way to verify when in doubt.

Mainly when Elon Musk made such an announcement I checked the millionaire wallets and nothing, they haven't moved much in percentage, which is a good indication, what if Elon Musk made a waste of his own power, since I'm sure what? when I make another of the eventual tweets of him they will not have the same acceptance as him, because there is a lot of disappointment, that is, his manipulation power will not be much.