Making investmets based on Elon Musk Tweets

[carlfebz2]

those who invested in crypto because they saw Elon's tweet = newbie...

With more than 50 million followers on Twitter, I'm sure many are investing in crypto, especially doge because of Elon's tweets. they have absolutely no experience and definitely cut losses when the market is bearish, they are very stupid for investing based on someone's tweets.

One of the most common scenario that happened on where there are noobs who had eventually lost up their investment on this recent crash or price dump in the market.

Out of those number of followers then its impossible not to say that they are all knowledgeable about crypto which means majority of them are newbie and no surprise that they

get wrecked after this dump and for sure it would leave out negative impression once again in crypto as general but hopefully those fellas would able to realize on whats the truth.

[uneng]

Elon Musk has some influence in bitcoin price, but it is limited as we can see. Maybe he thought he could *kill* bitcoin if he wishes and resurrect it later when he wants, but in fact he was just able to drop the market in part with his FUD, which was followed by a deeper correction due to speculators cashing out, following the trend, as it's normal always the price starts falling due to an exceptional event.

Also, every newbie who comes along because of Elon has a chance to evolve into a lifelong holder. In the short term, it can be annoying but in the long term, it'll strengthen bitcoin.

I agree with you. Moreover, I think on long run people will get tired of his tweets, jokes and with so many unstable opinions changing every few days he is probably going to lose influence in crypto market. As investors become more mature and experienced they need less influencers' opinions each new day.

[adzino]

If you are talking about making instant profit when Musk tweets about bitcoin, then yeah you can take advantage of it. But its easier said than done. By the time you read the tweet, you will already see the pump happening. You maybe too late. Too risky, but if you can enter early and exit at the proper time, you will like make some good profit.

Also, every newbie who comes along because of Elon has a chance to evolve into a lifelong holder. In the short term, it can be annoying but in the long term, it'll strengthen bitcoin.

What are your thoughts?

True. He might create some volatility, but at least more people are entering the market and knowing how crypto currencies work. As more people enter, the stronger the market will be. The more the people learn, the less the market can be manipulated.

[finaleshot2016]

I agree that Elon is a great help to the crypto community. Imagine that he brings a large number of people or newcomers to the community, a new ATH of crypto members who are investing in it. The only thing I despise is that the majority of them become an offering for him to make a lot of money during the peak. My friends are among those offering; they became interested after learning that the CEO of Tesla and SpaceX is participating in this year's crypto bull run, but they didn't realize it was all a marketing ploy from the start.

Well, this may have a negative impact as well, as people may leave the community as a result of a significant loss. So if you have friends that want to invest in crypto because of a public figure, it's better to suggest TAYOR (Trade at your own risk) than TBET (Trade because of Elon Tweets).

[aoluain]

IDK, the jury is out regarding EM.

Is he good or not so good for the Bitcoin space? short term probably not so good,
too many U turns and contradictions, not knowing exactly what he thinks.

There are definitely people who act on his tweets, I would also like to hope that
1. The majority of people dont get burned and
2. The majority of people are able to look to the future

[imstillthebest]

Bitcoin is going to be like water to the fish that swim in it, and 99% of the people won't care about it beyond that.

fish cares in the water because this is where they live but for us humans some of us can care less in Bitcoins because we can still live without it but for most of the bitcoiners ,
 Bitcoin is already their life as it gives them wealth that they never had before  .
Musk is a threat to btc , that's why many bitcoiners are doing an effort to fight and stop musk  .

[MCobian]

Bitcoin is going to be like water to the fish that swim in it, and 99% of the people won't care about it beyond that.

fish cares in the water because this is where they live but for us humans some of us can care less in Bitcoins because we can still live without it but for most of the bitcoiners ,
 Bitcoin is already their life as it gives them wealth that they never had before  .
Musk is a threat to btc , that's why many bitcoiners are doing an effort to fight and stop musk  .

I feel Bitcoin is very important to my life, because Bitcoin has changed my life for the better. Therefore I am one of the bitcoiners who feel Bitcoin
has become a part of my life, and I am also sure that almost all bitcoiners think so. So ever since Elon Musk started wreaking havoc in the crypto
world by manipulating prices, this has worried bitcoiners. Because Elon Musk has a bad influence on Bitcoin at this time, so a lot of bitcoiners
started appearing to stop Elon Musk. Hopefully Elon Musk can understand with a lot of criticism against him, not to create problems again in
the crypto world. Because for Elon Musk, maybe crypto is just a toy, even though for bitcoiners Bitcoin is very important.

[virasisog]

Elen had publicized crypto and I think it had brought a lot of new comers into crypto market. However, people should understand that crypto investment should be based on your own research and not because someone tweets it. Elen had been a market changer due to its tweets this bull market. As we know, the market can still be driven by news, updates and knowing Elon as an influential man he had a huge impact in crgpto as a whole. Keep in mind, your money, your investment.

[harapan]

The big question with elon musk participation in crypto is if the users he's driving to crypto would be here for the long term or if they are just here for the short term gain and insane pumps and nothing more than that? So far, it's looking like the latter. I just told myself that I would do whatever I want to do with my Nitcoin not minding what the opinion of elon musk and others are. even all his efforts on dogecoin parade only has short term effects.

[pinggoki]

This is probably one of the bad decisions that people are making. Depending on other person your investment is really a bad idea because before you invest you are the one who will be able to find and do your own research in order for you to learn on where you should invest because at the end of the day the person you will trust is always yourself and at the end of the day it is your own money and you must be the one who will decide on where you should invest it.

[husnija]

i thought it would be a bad and incorect decision. indeed we can't stop him from making a tweet at least we are not swayed by what is said, because it will make him addicted and the profits he gets continue to flow

[WillieTruman]

The energy consumption of mining that Musk said is essentially a pretense to induce investors in the currency circle。
To measure the value of digital currency, you must have the following three points
1. Preemptive market consensus, such as Bitcoin, preemptive mental occupation + scarcity (mainly wealth storage, does not have many currency functions)
2. Digital currency endorsed by national credit, authoritative
3. It can bring convenience and practicality to improve the efficiency of human life
Investing based on Musk’s tweets is a joke。
If a currency does not have the scarcity, authority, or practicality based on consensus recognition, then the so-called low energy consumption has no meaning to the value of the currency, and it is more like an air currency attribute. Musk has only one purpose, using something like Dogecoin under the guise of low energy consumption，Give everyone a hope, and then this hope is ruthlessly obliterated。

[Pmalek]

...as we can remembmer at 2015 when ICO's where really popular campaigns which had some celebrities on them got some preety nice prices after the ICO and even I joined them, but they all went down in price unfortunatally but really obvious the expect that to happen time and time again media are really impactfull right now

Think about it: Why did those campaigns hire famous actors, athletes, or musicians to advertise their brands? It's because they are targeting people who follow the likes of Snoop Dogg, Floyd Mayweather, or Steven Seagal to tell them what is good, how to be trendy, and what to do. A powerful coin would focus on the strength of its services and use cases, not on the social media reach of its ambassadors.   

Back when McAfee was popular due to his challenges that he will eat his...thing, though I know that's just a joke, I never even thought that he was like pushing  or hyping people to invest in Bitcoin.

I wasn't talking about his statements on bitcoin. McAfee had something like the coin of the day where he tweeted about ICOs he thought (or promised) would change the world .   

[kryptqnick]

Unpopular take but this is inevitable as bitcoin grows. Say the ultimate theory of hyperbitcoinization comes to pass in 20 years or something. Do you think everyone owning bitcoin is anarchist intellectual fighting the good fight? No... Bitcoin is going to be like water to the fish that swim in it, and 99% of the people won't care about it beyond that.

People buying bitcoin due to Elon's tweets will come and go and cause volatility, but it's an inevitable step in the larger journey of this technology. Gatekeeping will only cause your own blood pressure to go up, so I'd just make sure I got my keys in a safe place, buy the dips that result from these sudden adoptions and go with the flow.

Also, every newbie who comes along because of Elon has a chance to evolve into a lifelong holder. In the short term, it can be annoying but in the long term, it'll strengthen bitcoin.

What are your thoughts?

I think that as the market grows and more people use Bitcoin, it will eventually become less  volatile. Elon Musk's opinion is important to some people, but if there were significantly more users, there would be a  lower chance of his audience making a big impact because the community would be more diverse and people would admire different celebrities. So when one such guy says something bad about Bitcoin, his admirers will still sell their coins, but it will be insignificant for the market overall.
On a side note, buying and selling based solely on his tweets is a bad idea even nowadays when he has some power because many other factors contribute to price changes.

[traderethereum]

If you bought bitcoin due to Elon's tweets, you could lose your money, but as long as you can minimize the risk, maybe you can make a profit.
It is better to buy bitcoin because of your analysis and not because of other people because they can only suggest you without telling the truth.
But that can happen to new people who lack information about bitcoin and only follow without researching bitcoin.
That can be dangerous for them as they do not know much about bitcoin and can lose money.
I hope people can learn more about analysis to not depend on other people's suggestions.

[xSkylarx]

If you invest in something just because you are influenced by a rich and famous person then that is just basically gambling. Bitcoin is very volatile, if someone invest their millions to it without knowing anything about it then he could instantly lose a lot of money. We all know that market will always recover when bear season happens and holding bitcoin for the long term is definitely a good investment but what if some people thought that it is a quick-rich scheme because of the increase this year that they invest most of their money to it then suddenly bear season happens and they need money for emergency, these people will be forced to sell their bitcoin at loss. The equivalent value to fiat they will get will only be half or even less than what they invested.

[Kong Hey Pakboy]

i thought it would be a bad and incorect decision. indeed we can't stop him from making a tweet at least we are not swayed by what is said, because it will make him addicted and the profits he gets continue to flow

If you know how the market will move base on his Tweets then you will probably make a good prediction of what's going to happen after. Remember that the market moves where there is demand and Elon's tweet can make those demands, so it isn't that bad of a decision.

[davis196]

Unpopular take but this is inevitable as bitcoin grows. Say the ultimate theory of hyperbitcoinization comes to pass in 20 years or something. Do you think everyone owning bitcoin is anarchist intellectual fighting the good fight? No... Bitcoin is going to be like water to the fish that swim in it, and 99% of the people won't care about it beyond that.

People buying bitcoin due to Elon's tweets will come and go and cause volatility, but it's an inevitable step in the larger journey of this technology. Gatekeeping will only cause your own blood pressure to go up, so I'd just make sure I got my keys in a safe place, buy the dips that result from these sudden adoptions and go with the flow.

Also, every newbie who comes along because of Elon has a chance to evolve into a lifelong holder. In the short term, it can be annoying but in the long term, it'll strengthen bitcoin.

What are your thoughts?

I don't understand what exactly are you trying to say here.
People buying/selling Bitcoins based on Elon Musk's tweets have NOTHING TO DO WITH THE TECHNOLOGY BEHIND BITCOIN.Buying and selling BTC doesn't change the Bitcoin blockchain,it can only increase the number of transactions and increase the transaction fees and confirmation time.This doesn't change anything about how the BTC blockchain works.
Nobody is "gatekeeping" Bitcoin.Everyone is free to buy as mush BTC as he/she wants.
Newcomers are welcome to the crypto community.I don't see any gatekeepers around.

[777Jolami]

Anything without using your DYOR but relying only on beautifully embroidered pictures will become a double-edged sword.  What Doge has been through, even it is the focus against itself.  Elon is clearly a charismatic person in the community, and he is also just an influential person in this space, including the stock market before that.  But believe in yourself!

[Oasisman]

The big question with elon musk participation in crypto is if the users he's driving to crypto would be here for the long term or if they are just here for the short term gain and insane pumps and nothing more than that?

Well, the OP just said that this newbie investors might turn into or evolve into a long term holder. Of course almost everyone who jumped into the Elon Musk hype are looking to a short term gain at first, but as time passes by they'll eventually learn.
Especially now that Elon was showing inconsistency with his statements about Bitcoin. A wise investor will always catch up what Elon was trying to do with cryptocurrency market, and lastly a wise investor knows when to sell and hold, and it's safe to say that there are always wise investors in a group of new comers.