Is Elon Musk manipulating the market?

[mrdeposit]

Every time Elon Musk talks positively about Dogecoin on Twitter, price per coin goes all the way to the moon. The contrary happens if he talks negatively about it. Most recently, Elon Musk criticized Bitcoin's high energy consumption stating that it's harmful to the environment. This caused Bitcoin's price to plunge all the way to $42k in an instant. It's up to this point, where Bitcoin hasn't recovered back to the $57k - $58k range.

It looks like people make decisions based on someone else's opinion instead of doing their own research about it. Most people follow Elon Musk closely, so anything he says (good or bad) can directly affect the whole crypto market in general. I believe Elon Musk's true intentions is to manipulate the market for his own financial benefit. Who knows if he bought more Bitcoin after prices went down because of his tweet?

What are your thoughts? Do you think Elon Musk is manipulating the crypto market? If not, why? Will crypto carry on as usual without Mr. Musk in play? Or is it too late? Your input will be greatly appreciated. Thank you.

He tried every way to manipulate and managed to convince the mass to believe him. The majority began to believe that the doge is one of the strongest project on the market because of Musk. Those who want to invest now are looking for Musk assurance. lol

Most importantly he does everything consciously and still does not stop.

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[kayiboyu]

Most people will say yes to this. Because there are many actions of his which can be shown as a proof for it. I hope that he won't continue to manipulate the market forever. It hits the investors really hard.

[sadewa69]

Most people will say yes to this. Because there are many actions of his which can be shown as a proof for it. I hope that he won't continue to manipulate the market forever. It hits the investors really hard.

it could be that new investors are starting to get dizzy on a path they can't figure out. everyone has different predictions about the coins they hold so it is best if you have faith in yourself to hold onto what you have. although Elon Mask makes things like that maybe the knowledge that you can get. You can just filter out what to do for complete disbelief because it drives people crazy. like a creator who can correctly predict what will happen in the next year.

this is only related to market manipulation which happened to happen because of Elon and China. Meanwhile, for the trust assets that we can choose, I don't think it will change for top market assets or assets that have become our favorites. It is only a matter of time until we as owners of small assets wait for them to pump.

[Maslate]

Not only Elon but the whales who followed him.
 
Elon is very popular, of course, it's normal that people will follow his call or his favorite coin, which is DOGE.
Every time he talks, people follow, that's blindly investing and that's the reason why newbie investors lose money in a situation like this.

The only way to be able to manage the risk is to be smart, and it's not Elon's fault if people will follow as he also has his interest, for him this is just a game, and if we play his game, he will certainly be the winner.

[Bitstar_coin]

Elon is indirectly taking advantage of his followers and use his tweets to manipulate and influence their decisions towards crypto,  he wants his followers to see dogecoin as 'the peoples coin' even if it means discredit btc in the process, he may not be directly manipulating the market but his tweets are causing damage.

[Atang Sulaeman]

more and more days about elon musk's tweets it turns out that it is indeed to manipulate everyone,
it remains only for us to respond properly to whether to follow him or let him like the wind pass.

[Pelana vreo]

When the Bitcoin price reaches $35k, there will be lots of whales buying at this level. The situation is almost the same as in 2018, but for investors who have a lot of capital, brands will buy and we will see the price increase slightly as the number of requests continues to increase. Currently, the seller doesn't seem to want to lose due to Elon Musk's tweet, but as we know, the price of Bitcoin always goes up during the Bitcoin Halving.

[Golftech]

When the Bitcoin price reaches $35k, there will be lots of whales buying at this level. The situation is almost the same as in 2018, but for investors who have a lot of capital, brands will buy and we will see the price increase slightly as the number of requests continues to increase. Currently, the seller doesn't seem to want to lose due to Elon Musk's tweet, but as we know, the price of Bitcoin always goes up during the Bitcoin Halving.

This is really a big challenge to every investors and traders, holding if you got trapped from the peak

or cut your losses and try to buy back when there's another dip to grow your assets, it's up to your

good judegment from how you will see any opportunities in regards to this current market movement,

Musk or China all relied within your own decision making.

[J1mb0]

What are your thoughts? Do you think Elon Musk is manipulating the crypto market?

It is clear that elon musk is trying to manipulate the market through his Twitter, and there are a lot of people who believe in it.
If the market still has people investing on the advice of others, elon musk is still going on

I also think about you, the popularity that Elon has is enormous, he has influence and a large following who is always monitoring what he is doing, and he sees this opportunity to manipulate the crypto market, with the more people affected the greater the profit he will get.

He recently announced that he is in favor of crypto if there is a war between crypto and cash.
But this doesn't make the market as bullish as Elon Musk wrote on his Twitter, perhaps people have started to be wary of what he says.

[memyselfandi]

Some of it yes but not totally. I mean, he has huge btc because of tesla so he is considered as one of the btc whales and as we all know most of the coins in the market are interrelated with btc so if telsa will sell atleast half of their btc asset, I think it will have an effect to the market generally.

I have this feeling now that we are at the mercy of Elon Musk, he has a huge supply of Bitcoin and he can crash the market if he wishes, we are not in a good position right now, a man shilling a meme coin and FUDDING the mother of all coins this is the reason why Bitcoin and the market is going down, we are following a wrong guy, who is doing harm to the community.

Actually I am already thinking this for a long time. Time will come that a certain person (it doesn't need to be Elon Musk but on our current scenario, he is) will have a controll of the huge part of the market and will totally dictate what market status will gonna happen. If that will happen, the market we know will not gonna be the same anymore that is why I am always not in favor of capitalism.

[Hannahanto]

Every time Elon Musk talks positively about Dogecoin on Twitter, price per coin goes all the way to the moon. The contrary happens if he talks negatively about it. Most recently, Elon Musk criticized Bitcoin's high energy consumption stating that it's harmful to the environment. This caused Bitcoin's price to plunge all the way to $42k in an instant. It's up to this point, where Bitcoin hasn't recovered back to the $57k - $58k range.

It looks like people make decisions based on someone else's opinion instead of doing their own research about it. Most people follow Elon Musk closely, so anything he says (good or bad) can directly affect the whole crypto market in general. I believe Elon Musk's true intentions is to manipulate the market for his own financial benefit. Who knows if he bought more Bitcoin after prices went down because of his tweet?

What are your thoughts? Do you think Elon Musk is manipulating the crypto market? If not, why? Will crypto carry on as usual without Mr. Musk in play? Or is it too late? Your input will be greatly appreciated. Thank you.

Yes I agree with you. Most people take decisions without making their own research
Elon musk is influential and has high power on the crypto market any decision he makes either positive or negative will have an effect to the market.
And recently he has been manipulating the market and I think this is his own tricks to buy more coin. Once he manipulates a coin to drop the other investors will panic and sell off and that's the time he buys. The rich getting richer.

[TheGreatPython]

Every time Elon Musk talks positively about Dogecoin on Twitter, price per coin goes all the way to the moon. The contrary happens if he talks negatively about it. Most recently, Elon Musk criticized Bitcoin's high energy consumption stating that it's harmful to the environment. This caused Bitcoin's price to plunge all the way to $42k in an instant. It's up to this point, where Bitcoin hasn't recovered back to the $57k - $58k range.

It looks like people make decisions based on someone else's opinion instead of doing their own research about it. Most people follow Elon Musk closely, so anything he says (good or bad) can directly affect the whole crypto market in general. I believe Elon Musk's true intentions is to manipulate the market for his own financial benefit. Who knows if he bought more Bitcoin after prices went down because of his tweet?

Your last question shouldn’t even be a question. How can you be asking whether the cryptocurrency community can carry on without Musk? It hasn’t been long that this guy joined the crypto community, so with or without Elon Musk, the community is definitely going to keep moving.

Yes, I do know that while he’s here as part of the community he can be doing things that can be influencing the market in one or the other, and that’s because he’s a celebrity and he has lots of followers which we all know very well that a lot of them are into cryptocurrency, and anything he says the news are going to spread it as well. But that doesn’t mean that if he leaves the market is going to fall, nah we will still be going strong.

[Abiky]

If not then why is he doing this? I’m sure he’s manipulating the market and there’s no billionaire that would waste his time tweeting about cryptocurrency without a valid reason, he’s making a lot of money on his every tweet. I wonder what would be the next tweet of Elon, it could be “DOGE is useless”, watch out closely.

We may have fallen into Elon Musk's own game, as he manipulates the market with his tweets. Each comment (either positive or negative) has a direct effect over crypto prices these days. DOGE went from being worth nothing to nearly $1 after Elon Musk's praise. Similarly, Bitcoin went down after Elon Musk criticized its high energy consumption. How long will this keep up, will depend on how far people are willing to believe Elon Musk's comments. The current dip in price is great to accumulate coins before the whole market goes back up again. Sooner or later, Bitcoin will go to $60k while ETH will hit $5k per coin. Dogecoin might go to $1 if Elon Musk continues to "shill" it across social media platforms.

What matters is that crypto stays as decentralized and censorship-resistant as possible. The market may be following a single man, but the core Blockchain technology is not. Regardless of the price, crypto works well as censorship-resistant money for the world. The main issue here is the centralization of the market. If decentralized exchanges were in the lead, this wouldn't be a problem. The market would carry on as usual regardless of what Elon Musk says about crypto. Let's see how long it'll take before Mr. Musk becomes bored of crypto in favor of the next big thing in the mainstream world. Just my thoughts

[fahmimajannat]

Yes maybe he is manipulating.
He has invested lots of funds in the crypto market.
So maybe he is the real whale or on of the big whale behind THIS market manipulation

[Dexion]

From the very beginning and starting to tweet about crypto, I thought there would be turmoil in the crypto market, and it is true what I thought, strangely people who have been in the crypto world for a long time believe what Elon said, this makes me a little annoyed, he has managed to manipulate the market only with his popularity, he is a professional businessman, there is no way he would tweet about crypto if not for personal gain.

[chikading2016]

From the very beginning and starting to tweet about crypto, I thought there would be turmoil in the crypto market, and it is true what I thought, strangely people who have been in the crypto world for a long time believe what Elon said, this makes me a little annoyed, he has managed to manipulate the market only with his popularity, he is a professional businessman, there is no way he would tweet about crypto if not for personal gain.

I agree on that Elon really manipulating the crypto market, because everytime he tweets the market moves he is using his popularity and his believed to manipulate the market and i think it is for his own to make more profit and to full his bags I think that is the main reason.

[CryptoLogo]

In fact, it is not completely clear why he generally posts tweets of this kind.
To be honest, I think this is some kind of long-term strategy, but its true motives are not clear to me.
In any case, he must understand that the responsibility for his words lies with him.

[Kasabus]

In fact, it is not completely clear why he generally posts tweets of this kind.
To be honest, I think this is some kind of long-term strategy, but its true motives are not clear to me.
In any case, he must understand that the responsibility for his words lies with him.

Elon Musk has its own hidden motive and for sure, to make advantage of this market for his own benefit. And whales are also riding this market activity so that when people start to panic sell, they will buy those coins and hold them until their price d recovers. This is truly a market manipulation.

However, people start to see the true identity of Elon Musk and if he continue to make negative tweets for bitcoin, this market will be gradually affected. And i think people will never love that. So they start hating Elon Musk and unfollow him. This is jus the same with McAffe before. He will be ignored in the long run and he will make no impact on the market anymore. The crypto market will be back to normal again.

[inanilujimi]

I think it is too late to change the market like it used to be, now people are too affected by the tweet made by Elon Musk, whatever he says always makes a big reaction in the market, if this continues it could be that the market can be completely manipulated by a few people, this is very bad for the growth of the crypto market.

[WalkerIVIV]

In fact, it is not completely clear why he generally posts tweets of this kind.

he has his own agenda and that must be true. there lots of theories about this but we didn't have strong proof. The sense rumour is about elon owned lots of doge coins and that's why he was manipulating the market to make his portfolio in doge coin goes crazy. that being said that if the doge coin can be considered as a way for him to make money from the market.

I think that you can also find lots of discussion related to that thing.