How much power does Elon still have over the crypto markets?

[Coyster]

He doesn't have any power or control over the Bitcoin network, instead his control is on people who can be easily manipulated by FUD, if the Bitcoin network didn't have users who don't do their research and are thrown into confusion just by a single tweet, then even his manipulations wouldn't be possible.

Elon's tweets though can pump coins that are originally pump and dump coins, but his influence can't control such shitcoins and keep them up, cause with time they plunge/dump, in conclusion, if less users heed to whatever it is Elon has to say, the lesser his power/influence can be in the crypto network.

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[cryptomaniac_xxx]

Why are people so interested in trying to talk about Elon when other institution like Microstrategy are also one of the biggest companies that have backed bitcoin with big investment?

I would speculate that it is because Elon is such a famous personality globally. He is so enigmatic that people tend to follow his every move.

Elon's effect in investing in bitcoin and meme coin is more accurately described as part of the price monopoly he created. He is a smart man whose power of money can play with price. $1.5 billion is a sufficient number to call it a bitcoin whale. While he is also eager to make something big out of his investment despite his supportive stance through news of his adoption as a mean of payment at Tesla. Now his influence in the market is much less than it was a few month ago and maybe that is because of his carelessness in disclosing inaccurate fact about bitcoin mining which is not environmentally friendly.

I agree, even if his company invested billions on the market, it slowly dawn to us that he is trying to manipulate the price. That's why his influence has dwindled a bit, not before when every tweet he said will have a drastic effect on the market. Now crypto investors is seeing Musk as playing with us, with the market.

[romero121]

He doesn't have any power or control over the Bitcoin network, instead his control is on people who can be easily manipulated by FUD, if the Bitcoin network didn't have users who don't do their research and are thrown into confusion just by a single tweet, then even his manipulations wouldn't be possible.

Elon's tweets though can pump coins that are originally pump and dump coins, but his influence can't control such shitcoins and keep them up, cause with time they plunge/dump, in conclusion, if less users heed to whatever it is Elon has to say, the lesser his power/influence can be in the crypto network.

Other than Satoshi none have control over the bitcoin network, but lot many people have control over the cryptocurrency market. This is all because of the massive holdings of cryptocurrency. Elon is very much active on the cryptocurrency market in the recent days after finding the massive fluctuation. Now he tends to make use of the market for wealth generation making common people suffer.

Each and every tweet of him is taken into discussion. As he have got the ability to fluctuate the market there arises a big follower network that take buying and selling strategies based on his activity. In recent days it is the only possible way to profit. So, he have got good influence on the market.

[Coyster]

Other than Satoshi none have control over the bitcoin network, but lot many people have control over the cryptocurrency market. This is all because of the massive holdings of cryptocurrency. Elon is very much active on the cryptocurrency market in the recent days after finding the massive fluctuation. Now he tends to make use of the market for wealth generation making common people suffer.

This is not true. Satoshi has no more control over the Bitcoin network than yourself, meaning he has none, cause you don't as well. Satoshi created Bitcoin, but control and freedom of personal funds is in the hands of it's users. Whatever manipulation Elon has over the network is only down to people's naivety, if some newbies to crypto are better informed, then we'd never even have to mention Elon Musk in matters concerning Bitcoin manipulation or control.

[goldade]

In reality, Elon Musk has no real power over the market. What he has is the power of influence he has over his followers. And it is important to know that his followers are individuals who have a say in the market, however small. When these lot of people listen to whatever Elon Musk says and dance to his tune, it is as though he is the one controlling the market. Control the people and you control the market.
Personally, I hardly ever listen or follow Elon Musk although I do understand how powerful his influence can be over his followers and how disruptive of the market his tweets can be.

[TribalBob]

I think the "EM" tweet is no longer valid for bitcoin CS owner after he played the market by revoking his decision to buy Tesla with bitcoin, yesterday seeing new tweet but that the impact was smaller than his first few tweets,

[JerryKin]

Elon musk's power on the crypto market is dependent on his social media influence and interests not that he is in direct control of how the market raises or falls.. He has a big social media platform so also an huge influence on almost anything especially crypto market.

[yat97]

His power can be restored, just need a little time. Hopefully his tweet will be bullish next time.

I'm really hoping he tweets about doge again in a positive light. I just fear he has no more ability to pump markets, only to crash them. Seems like people were looking for any excuse to sell.

[Leviathan.007]

In my own idea, time after time when market becomes bigger, older and Elon tweets more, we will see less effects from his tweets. The first time he did a tweet the effect was too much because it was his first tweet about bitcoin and people were too emotional and this emotional atmosphere made the price rise rapidly. I can see currently, his tweets are not effect the price like he did months ago because people know him and his goals better than before, in the other hand the market is still young and after a few years will see less effects by these people in the market.

[Kong Hey Pakboy]

As much influence and bitcoin that he has, I am pretty sure that is how much his power over crypto market is and I don't think that he won't relinquish any of that power anytime soon. And to everyone who hates him, think of stuff that you can do while he manipulates the market, you can still make some money out of it.

[serjent05]

Elon's influence over the crypto market comes from his large social media following and the fact that a lot of his followers believe in him almost religiously and will follow his whims blindly without questioning or taking the time to really research and understand it for themselves.

Actually, it is from his achievement and position.  Due to this, his social media accounts have lots of followers thus, anything he says has the power to influence the belief of those who admire him.  People look at him as a successful icon when it comes to financial things.  So whatever he suggests with regards to investment, many will follow it blindly.

[dhemasm]

I think the "EM" tweet is no longer valid for bitcoin CS owner after he played the market by revoking his decision to buy Tesla with bitcoin, yesterday seeing new tweet but that the impact was smaller than his first few tweets,

Yeap not as much as his first tweet but still have some little impact to the market especially moving their followers and Tesla fans, He deserve it anyway when basically people already trusting him then he just wasting that. Basically He can change the traditional market since he have some big impact before but yeah now i see Elon as another McAfee.

[DarkDays]

Elon's influence over the crypto market comes from his large social media following and the fact that a lot of his followers believe in him almost religiously and will follow his whims blindly without questioning or taking the time to really research and understand it for themselves.

Actually, it is from his achievement and position.  Due to this, his social media accounts have lots of followers thus, anything he says has the power to influence the belief of those who admire him.  People look at him as a successful icon when it comes to financial things.  So whatever he suggests with regards to investment, many will follow it blindly.

Yes, he is definitely an influencer. his action influence what other do and don't. So overall, yes, Elon Musk still does have a large influence on the market monopoly, you can see this from a few weeks ago. Nothing has changed since.

[22bits]

In the long run I think Elon will have less and less power as he seems to spout off without really thinking it all out first.  It is probably good when it drops any way as the weak hands are looking for a reason to exit. 

[ShowOff]

I agree, even if his company invested billions on the market, it slowly dawn to us that he is trying to manipulate the price. That's why his influence has dwindled a bit, not before when every tweet he said will have a drastic effect on the market. Now crypto investors is seeing Musk as playing with us, with the market.

You also have to admit that Elon Musk's interest in bitcoin is to increase Tesla's popularity. His strategy is to adopt bitcoin as a mean of payment at Tesla and has prompted quite a number of other investor to invest. There are positives from Elon Musk's effect on bitcoin, but he also create negative effect in it. While the reaction of trader and investor to his tweet are starting to wane at this point, it look like he's not done yet.

[k@suy]

This is not true. Satoshi has no more control over the Bitcoin network than yourself, meaning he has none, cause you don't as well. Satoshi created Bitcoin, but control and freedom of personal funds is in the hands of it's users. Whatever manipulation Elon has over the network is only down to people's naivety, if some newbies to crypto are better informed, then we'd never even have to mention Elon Musk in matters concerning Bitcoin manipulation or control.

Lets give a credit to Satoshi for creating bitcoin because if it is not to him I don't know if the cryptocurrency will exists. Today bitcoin is a community driven type of market where I do believe that everyone of us have a control over the market, in individual means it is just a small impact but as a whole we are the life of crypto that fuel it to the fire. But when it comes to Elon Musk I know and in my own opinion he is above the individual member of crypto market, he doesn''t have control over the crypto market but he can influence the mind of people on whatever he's saying.

[michellee]

Before Elon enters crypto, he is a popular person with his Tesla and he has a huge fan of Twitter. And he thinks that he can use his popularity to influence the crypto, so he tweets about Dogecoin. His plan worked and made many people panic and buying Dogecoin in the rally of the price. And he did that again with Dogecoin and Bitcoin and boom. People seem not to care about his tweet again and do not like Elon.

But we do not know how big Elon's power still has after this and maybe Elon has something that we do not know. But I hope Elon will not do the worst thing like before because that can make him in trouble.

[OcTradism]

Before Elon enters crypto, he is a popular person with his Tesla and he has a huge fan of Twitter. And he thinks that he can use his popularity to influence the crypto, so he tweets about Dogecoin. His plan worked and made many people panic and buying Dogecoin in the rally of the price. And he did that again with Dogecoin and Bitcoin and boom. People seem not to care about his tweet again and do not like Elon.

Before 2020, Elon Musk tweeted about Dogecoin a few times and his tweets affected Dogecoin demand. Elon tested the market and he saw he can do something big with his twitter. I can't remember his first tweet about Dogecoin but perhaps it was in late 2018 or in 2019.

I don't see it as coincidence. It is test from Elon indeed. He tested and prepared things before he actually entered the manipulation games in 2020.

But we do not know how big Elon's power still has after this and maybe Elon has something that we do not know. But I hope Elon will not do the worst thing like before because that can make him in trouble.

Elon loves what he does in crypto market and he will not stop. He has love with money so he will not leave the crypto market. When one loves crypto, he can not leave it.

[$crypto$]

I agree, even if his company invested billions on the market, it slowly dawn to us that he is trying to manipulate the price. That's why his influence has dwindled a bit, not before when every tweet he said will have a drastic effect on the market. Now crypto investors is seeing Musk as playing with us, with the market.

You also have to admit that Elon Musk's interest in bitcoin is to increase Tesla's popularity. His strategy is to adopt bitcoin as a mean of payment at Tesla and has prompted quite a number of other investor to invest. There are positives from Elon Musk's effect on bitcoin, but he also create negative effect in it. While the reaction of trader and investor to his tweet are starting to wane at this point, it look like he's not done yet.

Not only did it increase the polarity of bitcoin on Tesla, but Elon Musk also had the opportunity to take huge profits even with his first tweet being able to break down traders and investors who were deceived by him so that in the end it caused a negative session because he had destroyed bitcoin in his tweet. Many don't care about him anymore because his behavior makes a lot of people upset.
And I heard that Tesla will also adopt bitcoin as a means of payment, will this be repeated again with the scenario that has been made? or will create more hype, I'm not sure Elon Musk can move investors again.

[conected]

In reality, Elon Musk has no real power over the market. What he has is the power of influence he has over his followers. And it is important to know that his followers are individuals who have a say in the market, however small. When these lot of people listen to whatever Elon Musk says and dance to his tune, it is as though he is the one controlling the market. Control the people and you control the market.
Personally, I hardly ever listen or follow Elon Musk although I do understand how powerful his influence can be over his followers and how disruptive of the market his tweets can be.

- In my personal opinion, he has a great influence on crypto followers and participants, it should also be called the power of the ruling class, the class of a whale giant, many people and including me can feel he is abusing his powers excessively but sometimes it is a jealousy, envy of his ability to control psychology and manage the crypto market, this may only happen for a few weeks but it is enough to speak to the power of Elon Musk. Currently, his campaign in crypto is probably under maintenance, after a successful fix, it is also another boom