Is Elon Musk manipulating the market?

[Bitum]

I think Buterin said everything correctly in his interview, and I agree that as time goes on, Musks tweets will have less and less impact on the crypro market. Something like that can't last forever, Musk is lucky that crypto markets are an unregulated market, otherwise he would be in jail

[Digital_Lord]

Basically, Elon musk was damaging cryptocurrency and also have damaged little reputation of BTC. He was saying Tesla will not accept Bitcoin anymore and he also wanted to accept dogecoin (meme coin) as payment sources in Tesla. So I think there are many shitcoins because of his tweets. He promoted some shitcoins, so many now many shitcoins are creating nowadays.

[777Jolami]

I think we can compare Elon musk to McAfee in 2017! People listen to those they regard as successful in the world.  Elon is a billionaire and his endorsement of Cryptocurrency goes a long way in people's mind.  As long as Elon continue his tweets,  there will be reaction to it.  Those reaction may be positive or negative!

Positive or negative, he will be a smart guy who makes tons of money from his tweets.  There are left countless people who will complain and lament about him.  Everything has two sides, Elon is the shepherd, the other is the woodcutter.  That's the irony and it creates value for Elon!  Paradoxes always exist.  Elon will be boycotted if he sells all his Doge!  I'm pretty sure on that.  Lol

[tomisinade]

He knows what he us doing and I really think he is manipulating the market because there is no way i see making a loss because he is a very strategic man… he really helped with his hype on bitcoin which gave more light to crypto currency and prices when to the moon when her started accepting bitcoin for tesla products but now he has turned back on his word and he is against bitcoin which has now seen the market decline

[smyslov]

He is good at manipulating people market and situation and he is a profit-hungry entrepreneur unfortunately people are following his leads and that leads many of us from losing a lot of money and making huge money from Doge Coin, and since he made a lot of people from making money it will take some time for them to unfollow Musk, they are waiting for the next coin that he will pump.

[dongyi17]

I think Elon Musk can possible manipulate crypto market, because many richman like Elon can invest in crypto and hodl them and also can manipulate the price. Elon Musk have big influence in crypto world, because anything he announce something happen in the market.

[perfect999]

I think Elon Musk can possible manipulate crypto market, because many richman like Elon can invest in crypto and hodl them and also can manipulate the price. Elon Musk have big influence in crypto world, because anything he announce something happen in the market.

Yeah, when tesla made their announcement, bitcoin was around 42k or so and suddenly went to over 48k in a day I would give him credits for 42k to over 50k and that's it, anything over 50k was still the people who wanted to buy bitcoin and insanely hyped about it so they bought and increased the price. That's what I think he deserves to get recognition.

I however do not give him the blame during this fall neither, sure he had a big play on the initial drop, we weren't at 60k+ neither, we were a bit over 50k and dropped under 50k and that was probably what Elon started but that's about it, rest was other news and people who get panic and sold and also there were tone of liquidations that caused the huge drop as well so it wasn't just him.

[LittleBitFunny]

-snip-

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.

Elon Musk and China Both of them are tried their best to manipulate the Bitcoin market, But they failed miserably,

Together they were announcing negative news about Bitcoin one after another in a row. But they were not able to bring the price of Bitcoin below $30K. At $30K zone Bitcoin has been stabilized very well and is preparing for the next bull run. Now a days people don't care about Elon Musk's tweets anymore because everyone knows his tweets are valueless, And Elon Musk has now become a laughing stock for social media influences.

[Stalker22]

Elon Musk and China Both of them are tried their best to manipulate the Bitcoin market, But they failed miserably,

Well, I wouldn't say Musk failed miserably. We don't know how much bitcoin he bought before Tesla's investments became public. With his twitter posts, he obviously tried to drive bitcoin's price to even higher levels.
When bitcoin was on ATH, he could have comfortably dumped large amounts and now is filling his bags again with cheap coins.

[flagpara]

I don't think so. at first glance it seems true that he was manipulating market prices. Actually that is just the effect of Elon Musk's Policy. Unfortunately, people too go with the flow that Elon musk creates

Do you think he does this on purpose? After all, he has a whole marketing team, why does he need so many tweets about cryptocurrency?
It is likely that the first tweets about dogs were nothing more than regular tweets, but looking at how they affect the crypto market, Elon might have decided to experiment.

If the cryptocurrency market falls again in 4-5 months, whom will you blame for that case? Stop acting you are nothing and become part of Elon Musk. Because behind your comments, you are supporting Elon musk tweets. Elon musk is trying to manipulate the market. What could be the reason to pump cryptocurrency without Elon musk tweets? So stop acting like Elon Musk everything.

[jjdub7]

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.

Undoubtedly, the crypto market is quite sensitive to manipulation and people who have a great influence on the masses can easily take advantage of this.

More than once we have witnessed famous people who have been prosecuted for their proven participation in manipulations on social media such as Twitter and gaining dividends from it.

I think that's part of the game, and whether Elon Musk does it on purpose or not to gain benefits, we don't know.

[bitterguy28]

Elon Musk and China Both of them are tried their best to manipulate the Bitcoin market, But they failed miserably,

Well, I wouldn't say Musk failed miserably. We don't know how much bitcoin he bought before Tesla's investments became public. With his twitter posts, he obviously tried to drive bitcoin's price to even higher levels.
When bitcoin was on ATH, he could have comfortably dumped large amounts and now is filling his bags again with cheap coins.

We really don't know ,Elon is good on fooling people so we can't really find if he is not  serious about all His statement against bitcoin.

I think Elon Musk can possible manipulate crypto market, because many richman like Elon can invest in crypto and hodl them and also can manipulate the price. Elon Musk have big influence in crypto world, because anything he announce something happen in the market.

that means he is not the one who is manipulating market but he is one of them?

[rahmathidayat93]

If the cryptocurrency market falls again in 4-5 months, whom will you blame for that case? Stop acting you are nothing and become part of Elon Musk. Because behind your comments, you are supporting Elon musk tweets. Elon musk is trying to manipulate the market. What could be the reason to pump cryptocurrency without Elon musk tweets? So stop acting like Elon Musk everything.

Sometimes nowadays a lot of funny things are happening all of a sudden, Elon Musk acts about him looking like a hero who can save anything in cryptocurrency, but that doesn't last long now because not everyone comes from Elon Musk in this regard.

[Hovarda]

Yes, he is definitely manipulating. I think I'm starting to get hairy now. I used to respect him and his work. I guess I have less respect for him now.

[domoy77]

Yes, he is definitely manipulating. I think I'm starting to get hairy now. I used to respect him and his work. I guess I have less respect for him now.

Almost everyone is like that now, because when Elon Musk liked Bitcoin, everyone respected him, but when he said Dogecoin for everything, everyone started hating him because it could tear down the cryptocurrency market by selling Bitcoin to most investors.

[Henrobakkara]

Isn't it obvious that Elon Musk is manipulating the Market? Everything he has done or said about any cryptocurrency is in a bid to make a profit. Everything about his support and eventually oppose of Bitcoin was market manipulation and all the Hype of Dogecoin too.

If Elon hadn't hype Dogecoin, this wouldn't have happened. Coinbase Pro opens up to dogecoin after cryptocurrency’s 6,000% gain this year

I want to believe that there are many more well-developed crypto projects than Dodecoins that could have been listed on Coinbase pro that is still not traded there now but open to Dogecoin. These are all market manipulation and are all interrelated.  

[imamusma]

It is very clear now, a big businessman like Elon must be when he creates a sensation about something, and this time it is crypto, he must be doing a strategy to make a profit, by taking advantage of his popularity so that people will easily believe it, but sooner or later he will met a black point where people will no longer believe in the sensations he made, you and I are one of them.

True, Elon Musk will fall in time, but not anytime soon because he is a very smart person in building his own business at the expense of everything through the trust and fame that he already has now.

[Mauser]

Isn't it obvious that Elon Musk is manipulating the Market? Everything he has done or said about any cryptocurrency is in a bid to make a profit. Everything about his support and eventually oppose of Bitcoin was market manipulation and all the Hype of Dogecoin too.

If Elon hadn't hype Dogecoin, this wouldn't have happened. Coinbase Pro opens up to dogecoin after cryptocurrency’s 6,000% gain this year

I want to believe that there are many more well-developed crypto projects than Dodecoins that could have been listed on Coinbase pro that is still not traded there now but open to Dogecoin. These are all market manipulation and are all interrelated.  

I fully agree with you, he did the same with Bitcoin as he did with Doge Coin, first he buys the coins himself and then he starts being optimistic about it on social media. The biggest problem here is his large fellowship and his reach on social media. People think he is a god because he will bring us to Mars, so they start believing in everything he says. Unfortunately he still has is own agenda and doesn't care about the common man. We should all stop trusting Elon Musk.

[Maslate]

most likely true, but in my opinion Elon Musk is not completely manipulating the crypto market, because until now crypto is still running as usual, the problem is that the price goes down doesn't mean Elon releases negative news, and prices go up/down, often in the crypto space.

Of course, that's it, however, you can't blame the newbies to point all to Elon as some of them are here investing because of Elon's shilling on the DOGE, but later drop BTC on Tesla as a payment method, and we know that when bitcoin drop, altcoins drop even worse.

Elon is now the center of attraction for criticism, his charm seemed to be gone already.

[lexkiee28]

I think not only Elon Musk who manipulate the market and the flow of the cycle of the market but also some big whales such as billionaires in order to shaken' the market.