Elon Musk really has the ability to manipulate the bitcoin market

[Pamadar]

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.

Its traders action who influenced the movements inside the exchange, the value always rely on supply and demand,

The more who will hold the more the value will go stronger and increase, while if there are pressures of selling and weak holders are being move the value

surely falls, Musk participation is how he treated the market and bring his opinions, those who continue to follow him are the one who's responsible with the market movements.

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[TheGreatPython]

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

Even the richest person in the world can't control "everything", he would eventually be ignored. Bitcoin (or in general crypto) is a market with over a trillion dollars marketcap, so whatever he can do himself it will not be enough to change the market too much, in a world where there are tens of billions of dollars per day in volume he doesn't have the power himself to make it go up or down. So, what does he have? How did he changed so much? His tweets, dude managed to tweet and gain a lot of attention to dogecoin and subsequently to bitcoin and other coins as well.

It means if he can tweet and convince others to change the price and buy or sell then he can do it, but if we ignore him then he can't do anything all by himself.

[lixer]

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.

Anyone can manipulate the market as long as they have a strong influence on people. They might not have that kind of huge amount of money to invest and manipulate the market, but if they have the influence, they can easily do that.

Just like Elon Musk, he's able to do this because he has a very strong influence on his huge followers on social media, especially on Twitter. So that's the thing, anytime he tweets good about Bitcoin the news spreads immediately and a lot of people start to buy bitcoin and that causes the market to go up. And whenever he tweets bad about it, the same thing happens as well, the news spreads immediately and a lot of people start selling their coins and the market will crash.

[bittick]

Its traders action who influenced the movements inside the exchange, the value always rely on supply and demand,

The more who will hold the more the value will go stronger and increase, while if there are pressures of selling and weak holders are being move the value

surely falls, Musk participation is how he treated the market and bring his opinions, those who continue to follow him are the one who's responsible with the market movements.

most of traders nowaday are just seeking profit, they don't care about market condition as long as they can make good profit out of it, the thing is they trying to repeat the same history by following sentiment from elon tweet that way they trying to ride the pump and dump train as well making the market always unstable everytime elon tweeting something related to crypto
but can we really blame the trader for following elon? maybe but i think elon is the one who responsible, i think elon isn't dumb to not know that his tweet bring impact, instead he's trying to use it to his advantage.

[infarterr]

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

That's true, because basically the ups and downs of the bitcoin price are not fully affected by Elon Musk, because there are still many investors out there who still store large amounts of bitcoin, but currently the biggest influence on Elon Musk's role is Dogecoin because he has bought Dogecoin in very large quantities

[fullhdpixel]

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

That's true, because basically the ups and downs of the bitcoin price are not fully affected by Elon Musk, because there are still many investors out there who still store large amounts of bitcoin, but currently the biggest influence on Elon Musk's role is Dogecoin because he has bought Dogecoin in very large quantities

I do believe that the whales do not care about Elon Musk that was never something that should have been a thing that we should care about neither, I am not a whale but I do not care about him neither, that is a fine situation for me, I do not have to care about him at all, why would I care about him?

I mean he is talking and tweeting about stuff but that's about it, someone yipyapping about crypto is not the reason I buy or sell something, I do that because I care about what people do with fiat, yes that is right what I do with my crypto depends on fiat and not on crypto. Why? Because simply I am basically caring about crypto depending on how terrible fiat is doing, the more terrible fiat gets the better crypto gets and that is a fact.

The world is doing horrible in economy, many people are trying to excuse the current situation but reality is that we are doing much worse and there are a lot richer people, get the top 10000 richer people and drop their wealth by 25% and we have a 2x better world for ALL the people. Crypto will get only better and better in the future.

[Issa56]

With the kind of influence Elon musk his having and his money I believe he has the ability to to manipulate the market, he can pump any coin at any moment because he has the money to bag lot's of the coin and will definitely pump the price of the coin and if he can Tweet about a coin definitely people following him will start baging the coin which will lead to increase in price. But the only thing I believe is that if he those not stop posting anyhow he will definitely lose his value and respect if will reduce the way people will be listening to him so he just have to reduce the way he post anyhow.

[andriarto]

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

That's true, because basically the ups and downs of the bitcoin price are not fully affected by Elon Musk, because there are still many investors out there who still store large amounts of bitcoin, but currently the biggest influence on Elon Musk's role is Dogecoin because he has bought Dogecoin in very large quantities

Of course, with a very large purchase, it will have an influence on market movements. and this is very natural in the market. so after that a few words from Ellon can influence many other traders to move in unison. And in the end, Ellon is the one who benefits

[zanezane]

I think a lot of people with a lot of money is going to be able to manipulate any market if they want to, they have the influence and money and I think that not using it to their best interest is a pretty stupid way of handling power. I would be more surprised that Elon doesn't manipulate the market because he feels bad for the people in the market that he doesn't even know exist.

[lienfaye]

I think a lot of people with a lot of money is going to be able to manipulate any market if they want to, they have the influence and money and I think that not using it to their best interest is a pretty stupid way of handling power. I would be more surprised that Elon doesn't manipulate the market because he feels bad for the people in the market that he doesn't even know exist.

The words of Elon is powerful to his followers thats why whatever he says they're taking it seriously as their sign of what can happen in the coming days.

Its not only about his money, but more on his popularity as an entrepreneur and as a ceo. Rich people can manipulate the market but its a plus if you're also an influencer and popular especially on social media because thats where you can attract other people to follow you and believe on what you say.

[zanezane]

~

The words of Elon is powerful to his followers thats why whatever he says they're taking it seriously as their sign of what can happen in the coming days.

Its not only about his money, but more on his popularity as an entrepreneur and as a ceo. Rich people can manipulate the market but its a plus if you're also an influencer and popular especially on social media because thats where you can attract other people to follow you and believe on what you say.

Influence comes with money so I am stoic with the fact that Elon has a lot of money, that's why he can manipulate the market, the influence is just a bonus add to that his outgoing and approachable personality, you get yourself a lovable sociopath that knows how make money in the market.

[RealMalatesta]

The words of Elon is powerful to his followers thats why whatever he says they're taking it seriously as their sign of what can happen in the coming days.

Its not only about his money, but more on his popularity as an entrepreneur and as a ceo. Rich people can manipulate the market but its a plus if you're also an influencer and popular especially on social media because thats where you can attract other people to follow you and believe on what you say.

That's the problem that we are talking about right? I mean there are people who are willing to let him be the king of what he is doing and that is not something we should be allowing him to do. We are talking about something that is dangerous to crypto world and somehow we are all fine with it? I do not believe that he should be that much powerful and we should stop caring about what he is saying.

Unfortunately he has a ton of followers that listen to what he says and does what he says and that is why it is a very dangerous situation for me and all the people like me, we do not give crap about what he says but we have to live in a market where he dictates things even if we ignore it because others won't. Just because he is a rich business person doesn't mean that he should be cared, being a rich business person doesn't mean you are great at market or coins.

[dmamigo]

The words of Elon is powerful to his followers thats why whatever he says they're taking it seriously as their sign of what can happen in the coming days.

Its not only about his money, but more on his popularity as an entrepreneur and as a ceo. Rich people can manipulate the market but its a plus if you're also an influencer and popular especially on social media because thats where you can attract other people to follow you and believe on what you say.

That's the problem that we are talking about right? I mean there are people who are willing to let him be the king of what he is doing and that is not something we should be allowing him to do. We are talking about something that is dangerous to crypto world and somehow we are all fine with it? I do not believe that he should be that much powerful and we should stop caring about what he is saying.

Unfortunately he has a ton of followers that listen to what he says and does what he says and that is why it is a very dangerous situation for me and all the people like me, we do not give crap about what he says but we have to live in a market where he dictates things even if we ignore it because others won't. Just because he is a rich business person doesn't mean that he should be cared, being a rich business person doesn't mean you are great at market or coins.

Elon Musk has huge credibility in the market regarding new innovation and technology. As he is viewed as one of the top leaders in the business/industrial sector including technology, people tend to follow him. This is just human psychology. We cannot change this as the number of people who follows him blindly is huge though this is stupid.

Though I doubt he wants to destroy the crypto industry as he is likely inclined towards this technology. Previously also he did something which made the price of his own company shares fall drastically.
Also, the fact that people are thinking that he is a whale in this crypto field is inevitable, which is somehow misleading and making people think that he is the only one who can change everything but there are many whales who are impacting the valuation. I hope people take their own decision regarding anything, the actions of influential people should be limited while taking decisions.

[carlfebz2]

~

The words of Elon is powerful to his followers thats why whatever he says they're taking it seriously as their sign of what can happen in the coming days.

Its not only about his money, but more on his popularity as an entrepreneur and as a ceo. Rich people can manipulate the market but its a plus if you're also an influencer and popular especially on social media because thats where you can attract other people to follow you and believe on what you say.

Influence comes with money so I am stoic with the fact that Elon has a lot of money, that's why he can manipulate the market, the influence is just a bonus add to that his outgoing and approachable personality, you get yourself a lovable sociopath that knows how make money in the market.

He does have the money since he wont really be able to claim that richest man in the world if he doesnt have those funds even though is ranking slapped out on lower but still considered to be financially capabled on influencing whatever market he would tend to engage on.

You can do everything if you do have the money and its indeed true that popularity and influence would just a bonus and this is why we should be mindful on how to take those shills and calls that he do in the market.

Its neither it would be beneficial for your part or would turn out to be manipulative. Impression would really vary on how he did make an effect on you and if it turns out to be negative then for sure you would be giving out criticisms.

[arallmuus]

Though I doubt he wants to destroy the crypto industry as he is likely inclined towards this technology.

I've always said this but personally I think that its pretty much a one night stand for Elon in crypto ( bitcoin especially ) rather than a long term relationship. He will eventually cut his ties with bitcoin after he get enough from it by making several lame excuses again. This guy has tons of projects and in need of a cold hard cash so selling bitcoin is one of the way to generate that.

You can do everything if you do have the money and its indeed true that popularity and influence would just a bonus

Popularity, if it is all about money then most of those folks would follow Microstrategy instead because they hold alot more bitcoin

[nightrider]

According to experts, Musk's influence on the cryptocurrency market is far from over as Bitcoin's fate is still tied to the Tesla CEO's tweet.

Elon Musk has helped make crypto more mainstream in the eyes of Wall Street investors. However, now every share of Musk on Twitter scares them.
The price of  Bitcoin  was blown by about 25% in a week, partly due to Musk's attention-grabbing tweets as well as the harmful effects of Bitcoin mining, and later in favor of Dogecoin.

[Peanutswar]

Elon musk a big name and as you can see he handles a lot of different investments, organisations, companies and those are the keys to gain popularity and trust of the people by this kind of strategy he can easily manipulate the market by making different actions recently we saw what I do to the market dump of the coins because not supporting of the bitcoin payment to their tesla at the same time we accept it again he is just trolling the market many people get affected on this. We can't do anything if we are just a small-time investors so always keep aware of the market news and other things so to prevent losing for an unexpected dumps.

[sana54210]

Elon musk a big name and as you can see he handles a lot of different investments, organisations, companies and those are the keys to gain popularity and trust of the people by this kind of strategy he can easily manipulate the market by making different actions recently we saw what I do to the market dump of the coins because not supporting of the bitcoin payment to their tesla at the same time we accept it again he is just trolling the market many people get affected on this. We can't do anything if we are just a small-time investors so always keep aware of the market news and other things so to prevent losing for an unexpected dumps.

I have said this before, I will say it again, and probably will keep saying it in the future. It is not about how rich he is, it is not about his business, it is not even about his fame that he is capable of manipulating the markets, it is his suave with people that allowed him to be like this. What do I mean? We have heard Warren Buffet talk about how bitcoin is bad for the past 5 years, dude is one of the richest people alive and at one point he was the richest person alive, he is known all over the world, and his company owns companies, he has a finger in every nation, and yet the price didn't fall just because he doesn't like bitcoin.

It means someone who has exact the same stats as Elon couldn't manipulate the market, and Elon was capable of doing it, why? Because on twitter dude managed to rise himself up to a level where he is listened, that is what made him capable of manipulating, sure his fame and money and success played a HUGE part because without any of that he wouldn't have the chance, but he didn't just said "there is this dogecoin and I like it" on an interview in good morning america and manipulated, his twitter talents brought that manipulation to a new level.

[bocyaj]

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

He may holding huge amount of bitcoin.He had a good social exploture.It's reason for his visibility compared to other manipulators.But we should not follow such manipulators.We all should avoid his words,instead of blind accepting.We are the market,not the Elon alone the market.Crytocurrency was lead by market and not by manipulators.

[Spack17]

Elon Musk still can manipulate the market very easily. And he did it some days ago. But surprisingly, it wasn't too affective this time. I started thinking like his power was weakening. And I hope it is. Because I'm really fed up with his manipulations like many people.