Is Elon Musk manipulating the market?

[Abiky]

Obviously Elon Musk was manipulating the crypto market with his tweets, just wondering why a grown up person will make a decision to buy or sell a coin based on one person's opinion, it's really stupid honestly, his followers literally take every tweet from him as a financial advice which isn't the way it should be, Elon Musk needs to stop manipulating the market with those tweets, it's getting some people rekt.

Exactly. People are foolish enough to follow one person for all of their crypto-related investments. Elon Musk may be a multi-millionaire but that doesn't make him smart. He doesn't seem to know much about crypto/Blockchain tech these days. Investing in Dogecoin without doing a research about its technical aspects is more than enough proof that Elon Musk is a newcomer in crypto land. He's only been manipulating the market with his comments across Twitter for his own financial benefit. Newcomers into crypto will become "rekt" once their investments go all the way down the drain.

Dogecoin may have benefitted from Elon Musk's comments, but the effects won't last for long. Anything above 1 cent (USD) per DOGE is considered overpriced these days. Imagine if Dogecoin hits $1 with Elon Musk's constant shilling. It'd be insane! I'd suggest anyone to stop following Elon Musk and just follow a cryptocurrency project's development progress. Concrete results is what matters above all else. Just my thoughts

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[imamusma]

I think Elon Musk will have a bit of leverage with his Twitter maybe to lower the Btc price but if we get carried away by such news then we will lose and lose a lot of money you invested.

Then what is the solution so that everyone is not affected by the tweets on Elon Musk's twitter account?
because most of Elon Musk's followers today still really believe in the words of Elon Musk.

[Traderbtcc]

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, Elon Musk is messing around with the crypto market, he first started with just tweeting dogecoin meme which he used to pump up the price of dogecoin, same thing with bitcoin when he announced that his company (tesla) has started accepting bitcoin it helped bitcoin pumped to over $50,000+, then after that he made a fud tweet about bitcoin mining affecting the environment, that tweet plus China fud made bitcoin plunge down to $30,000 and its really annoying, the crypto market should never depend on what one person thinks about it, he's really manipulating the price abd sine people are getting rekt for it.

[Kez1817]

Yes he does, he want to try to manipulate it, many people ride on his hype about doge and bitcoin, but as many of us can see that he's intention is to control the market, well we're all change our course about him, he is like John MCafee now, who are nothing in the crypto's space.

Is that true that Elon Musk has the capability to control and manipulate the whole crypto market? I doubt it. I think there are other whales behind it and not just Elon. Good to ride on what's happining in the market. Buy more now and hold because market start recovering again after a few dump. It's not a bearish market yet, so hurry up and fill your bags.

[CaVO32]

I think Elon Musk will have a bit of leverage with his Twitter maybe to lower the Btc price but if we get carried away by such news then we will lose and lose a lot of money you invested.

Then what is the solution so that everyone is not affected by the tweets on Elon Musk's twitter account?
because most of Elon Musk's followers today still really believe in the words of Elon Musk.

I think the best way to approach this matter, is if you can't beat them, join them type thing. We can't stop Elon from tweeting what he wants, so why not take advantage of the market whenever he tweets something about crypto? Though he can't manipulate the market because no one can, but he has somewhat big influence in the market and influence how people think about it. And if you are a long time crypto user, I guess by now, how to react on this kind of hype.

[Faxmate]

I think Elon Musk will have a bit of leverage with his Twitter maybe to lower the Btc price but if we get carried away by such news then we will lose and lose a lot of money you invested.

Then what is the solution so that everyone is not affected by the tweets on Elon Musk's twitter account?
because most of Elon Musk's followers today still really believe in the words of Elon Musk.

I think the best way to approach this matter, is if you can't beat them, join them type thing. We can't stop Elon from tweeting what he wants, so why not take advantage of the market whenever he tweets something about crypto? Though he can't manipulate the market because no one can, but he has somewhat big influence in the market and influence how people think about it. And if you are a long time crypto user, I guess by now, how to react on this kind of hype.

that's what i am thinking about, as a long time crypto user i could say that just keep an eye on his tweets also, that can be the cause of biggest profit for most of the people. We should adjust ourselves to the situations and prepare for every up and down.
Also I think that crypto up and down related to his tweets will be for a little time as people will insult their minds from his tweet with time.

[Oneandpure]

Elon Musk make many trader and investor panic and he can manipulating of market price, after his tweet many people will panic buy or sell depend what kinds of Elon Musk tweet, I see here many trader can't hold and keep waiting when Elon Musk make bad tweet about bitcoin, they look panic for selling assets although loss much, just few trader keep holding and waiting until Elon Musk back make good news.

[ahoenk]

He is not manipulating the market, market manipulator is whale. Whale use his tweet as a news to dump their token.
When elon tweet something then whale dump or pump the market base on the tweet. So people will blame elon and its tweet. Another matket dumper probably silk road seller who just going out of jail considering there are many transactions happen from 2012-2013 wallet in May.

[kenelmark]

He is not manipulating the market, market manipulator is whale. Whale use his tweet as a news to dump their token.
When elon tweet something then whale dump or pump the market base on the tweet. So people will blame elon and its tweet. Another matket dumper probably silk road seller who just going out of jail considering there are many transactions happen from 2012-2013 wallet in May.

Elon Musk made changes to his tweet. First he said that Bitcoin is a digital currency that can be used in Telsa companies. Then he left Bitcoin and sold it in bulk, and by saying that Dogecoin could buy Tesla cars, so people raced to buy Dogecoin, and sell Bitcoin. So what do you think about this kind of tweet?

[KennyR]

Elon Musk make many trader and investor panic and he can manipulating of market price, after his tweet many people will panic buy or sell depend what kinds of Elon Musk tweet, I see here many trader can't hold and keep waiting when Elon Musk make bad tweet about bitcoin, they look panic for selling assets although loss much, just few trader keep holding and waiting until Elon Musk back make good news.

But it can't last long, can it?sooner or later, his tweets will lose their power and influence on the cryptocurrency market,and besides, many already have a negative attitude towards him, as they understand that apart from manipulations, he does not bring anything good to the development of cryptocurrencies.

His tweets loss power within few days, and soon after the same he does something else adding the term Bitcoin to it. This way he tries to keep the market moving upward and downward. At some point people have started to make their price predictions based on his statements. This has caused more users to have a better earning out of trading. Now also his statements have impact on the market, because we can't say he's been unfollowed by the cryptocurrency users.

[Spack17]

There is not even a need to ask a question like this.    Of course, he is manipulating the market and I bet he is enjoying it as well. Besides, Tesla has made an incredible amount of investment into Bitcoin. I assume that Elon Musk isn't happy about the current situation. And he wants to make things easier for the market to rise again in the recent times.

[pixie85]

No, he doesn't manipulate the market through his tweets but all those ideas made several people rant on their assets.

OH, so that's why the SEC is after him and that's why he had to pay a fine to them 2 years ago, because he doesn't do anything wrong and it's all people saying bad things about him. 

Elon was only speculating, and I believed that he also holds bigger quantity of cryptocurrency.

Yes, he was speculating for his own benefit and at other people's expense.

[tabas]

There is not even a need to ask a question like this.    Of course, he is manipulating the market and I bet he is enjoying it as well. Besides, Tesla has made an incredible amount of investment into Bitcoin.

He is enjoying it because it's very beneficial to him. He's aware of what such words coming from him do in the market.

I assume that Elon Musk isn't happy about the current situation. And he wants to make things easier for the market to rise again in the recent times.

He is happy in the situation that he's manipulating the market. He might have bought a lot but later he had sold 10% too.

[Republikcoin.com]

Elon musk must get karma for his treatment in the cryptocurrency world which is clearly manipulating the DOGE market by taking personal gain.
He deliberately targeted the cryptocurrency market because of the very high volatility and also the economic percentage against the USD is not too large.

[m.rifki]

The anger of the residents of the crypto market has peaked and this is the effect of Elon's tweets arbitrarily manipulating the market in his favour, this deserves to be accepted by Elon as a consequence. He's clearly glorifying doge and trying to bring bitcoin down, he's even tweeted that butcoins are a bad thing.

[Dr.Osh]

There is not even a need to ask a question like this.    Of course, he is manipulating the market and I bet he is enjoying it as well. Besides, Tesla has made an incredible amount of investment into Bitcoin. I assume that Elon Musk isn't happy about the current situation. And he wants to make things easier for the market to rise again in the recent times.

well, he has the power for it. the most real coin being manipulated is the Doge. however, currently the price of doge is also decreasing because the price of bitcoin is falling quite deep. well, for now, there has been no significant movement from Elon to make bitcoin prices or doge dumps or pumps. however, it's very clear that the coin's price hike is currently being driven by the posts updated on his twitter.

[Noruka]

There is not even a need to ask a question like this.    Of course, he is manipulating the market and I bet he is enjoying it as well. Besides, Tesla has made an incredible amount of investment into Bitcoin. I assume that Elon Musk isn't happy about the current situation. And he wants to make things easier for the market to rise again in the recent times.

well, he has the power for it. the most real coin being manipulated is the Doge. however, currently the price of doge is also decreasing because the price of bitcoin is falling quite deep. well, for now, there has been no significant movement from Elon to make bitcoin prices or doge dumps or pumps. however, it's very clear that the coin's price hike is currently being driven by the posts updated on his twitter.

DOGE now lost nearly 70% of its value from its ATH when Elon Musk was actively shilling it. If I were him I would feel bad, but that guy doesn't feel bad. He also doesn't feel bad for his thousands and thousands of employees who work under bad conditions, low payment and an atmosphere of psychological pressure. Too bad he made fun of people in the crypto scene because some of them are from poor countries who may have trust his words a bit too much.

[virtualdn]

There is not even a need to ask a question like this.    Of course, he is manipulating the market and I bet he is enjoying it as well. Besides, Tesla has made an incredible amount of investment into Bitcoin. I assume that Elon Musk isn't happy about the current situation. And he wants to make things easier for the market to rise again in the recent times.

well, he has the power for it. the most real coin being manipulated is the Doge. however, currently the price of doge is also decreasing because the price of bitcoin is falling quite deep. well, for now, there has been no significant movement from Elon to make bitcoin prices or doge dumps or pumps. however, it's very clear that the coin's price hike is currently being driven by the posts updated on his twitter.

DOGE now lost nearly 70% of its value from its ATH when Elon Musk was actively shilling it. If I were him I would feel bad, but that guy doesn't feel bad. He also doesn't feel bad for his thousands and thousands of employees who work under bad conditions, low payment and an atmosphere of psychological pressure. Too bad he made fun of people in the crypto scene because some of them are from poor countries who may have trust his words a bit too much.

The guy is a narcissistic clown, how do you expect him to feel anything? I've lost every bit of respect for this clown, I saw his true character and I tell you this guy is a dangerous dude, hopefully people won't forget this because his agenda is long, he still has many things to "implement" for the human race and plans to deceive many.

[iTradeChips]

Is Elon still manipulating the said coin? Many weeks have passed since he actively engaged in both Bitcoin and Dogecoin. But I have not heard anything other then the SpaceX coin ads there are frequenting Youtube ad space. If it is true that he is developing his own cryptocurrency, then it will be sure that he will abandon Dogecoin and will be concentrating on his own coin. We can see a massive drop in DOGE and those who bought during the ATH will suffer greatly.

[imamusma]

The anger of the residents of the crypto market has peaked and this is the effect of Elon's tweets arbitrarily manipulating the market in his favour, this deserves to be accepted by Elon as a consequence. He's clearly glorifying doge and trying to bring bitcoin down, he's even tweeted that butcoins are a bad thing.

There's no need to blame someone for this even though it's clearly a very bad effect, because the Chinese state has also issued news to limit Bitcoin so that the downside effect can be bigger as it looks now, so stop blaming just one person, even if he has ability for it.