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

[Quidat]

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

He would surely be having a great influence considering that this guy is the richest man on the world where it is no brainer that there would be lots of followers and the words spoken by this guy would really be significant and would really be eyed out for those who do make out investment the bad thing here is that when he had tried
to stir up the crypto market on a non decent way then the community starting out to be sour against him.I don't know if there would be still some trust left for people
to believe into the things that he would try to say after all the things he had done? For sure he can still make out some impacts but wont really be that severe for sure.

[Sanugarid]

Just because he says some negative or positive stuff, why do people react so much?

Whatever the reasons, are people done listening to him now or what?

I remember when he first tweeted anything about crypto it was doge. He just had a simple rocket with doge on the shuttle and posted that.


SOmehow.... this made doge go from less than a cent all the way up to 7 cents! Wtf kind of power is that?

Then he did some more doge tweets making it go as high as 70 cents.


But then with just one simple tweet, he dumped the bitcoin price. HOW!?


But yeah, has he numbed peoples nerves enough yet or what? It seems like it considering his last positive tweets haven't done much to bump the price up. What gives? Is his power done with or is it just easier to crash a market instead of pump it?

The answer is simple, the more money you have means you became more influential in such a way where most people will follow your lead. If you have good social and financial status, people will believe in whatever you say and will take advantage when they've given the opportunity to do so.

[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.

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.

Maybe, but at that time, the market is at a bearish trend, making the crypto market at the lowest price and not moving higher. Maybe based on that time, Elon realizes that he can influence his fan to follow what he says. So he tried as what we saw and Dogecoin moves so high while many people are not predicted that coin can increase.

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.

But if he can change his behaviour before, maybe he can become more popular after what he did. People only see what he do and if he is doing something wrong, people will easily judge him because of his mistake. So hopefully, he can change for the better, not just because he loves money and crypto.

[Lorence.xD]

As long as people are believing him and he is still active on Twitter tweeting about his stuffs that he does then probably he still have a lot of power of the market, whether we like it or not.

[acener]

It would depend on how much people would give a crap about his post and how long they would tolerate it.
They are playing along his plans and enjoying it while they are gaining but once Elon wrecked it again those who are enjoying their crypto ride would starts to cry again.

[isaac_clarke22]

~

It is his power that affect his followers, not all people. Me? I don't even flinch to whatever he says about Bitcoin whether it'd be positive or negative. He is just a rich guy in the end and I won't do any decision to crypto just because a certain guy in Twitter says something.

His powers are over? As long as people don't do research and rely on these celebrities, I don't think it is over.

[Alert31]

Elon is a popular influencer and he has a huge social media followers who support him a lot. They believe in what Elon Musk said and because what Elon said about Doge really happened, the number of believers continuously increased. They always believe that whatever Elon Musk says, it will really happen. But if one day the words of Elon fail, it will also affect his followers.

[bitterguy28]

Just because he says some negative or positive stuff, why do people react so much?

Whatever the reasons, are people done listening to him now or what?

I remember when he first tweeted anything about crypto it was doge. He just had a simple rocket with doge on the shuttle and posted that.


SOmehow.... this made doge go from less than a cent all the way up to 7 cents! Wtf kind of power is that?

Then he did some more doge tweets making it go as high as 70 cents.


But then with just one simple tweet, he dumped the bitcoin price. HOW!?


But yeah, has he numbed peoples nerves enough yet or what? It seems like it considering his last positive tweets haven't done much to bump the price up. What gives? Is his power done with or is it just easier to crash a market instead of pump it?

He has no  much appeal in people now, many has changed since they find how trolling Elon Musk is doing the market.

the recent tweets of Elon has no much impact in the community look at it now , elon is losing sympathy little by little.

[ropyu1978]

In my opinion for now, it can be said that about 50% percent still has power in the crypto market, because we look at his wealth, I think he still has a lot of sheep who are still loyal to Elon, and there are still many who are loyal. Elon's followers. Musk, unlike us, we are not his followers, we are not his sheep..

[KeikoKitagawa18]

Elon's Power is not as strong as before. There are many people who are smart enough and start to not believe in him. I'm one of those idiots who really believed in his tweets when he first started tweeting about crypto. But, right now i think i smart enough to realize this man just trolling us.

[swiftbits]

There's a consequence in his influential move, the community trusts him.
He can't make up something not reflected on what really is going to happen in the market.
It would be detrimental to his reputation if people deemed him a fraud

[maxreish]

Lets say ELon is one of the most influencial person that everything he said has been recognized by his followers. There are tons of people who tend to believe in whatever he will tweet even those who are high profile and  big investors are following his statement over cryptocurrency.

The fact that the crypto market moves whenever he talked about it seems he enjoyed to manipulate the market.

[meanwords]

Just because he says some negative or positive stuff, why do people react so much?

Whatever the reasons, are people done listening to him now or what?

I remember when he first tweeted anything about crypto it was doge. He just had a simple rocket with doge on the shuttle and posted that.


SOmehow.... this made doge go from less than a cent all the way up to 7 cents! Wtf kind of power is that?

Then he did some more doge tweets making it go as high as 70 cents.


But then with just one simple tweet, he dumped the bitcoin price. HOW!?


But yeah, has he numbed peoples nerves enough yet or what? It seems like it considering his last positive tweets haven't done much to bump the price up. What gives? Is his power done with or is it just easier to crash a market instead of pump it?

I think he still has some sort of influence in the crypto industry but I don't think it's as strong as before. The moment he made Bitcoin dump because of this absurd research paper, the majority who follows him are probably staying away from him now as much as possible. I can't imagine people following him even though he made them lose a lot of money.

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[bakasabo]

Elon Musk still has a huge influence on people that can make huge investments, but group of small investors or regular cryptocurrency holders (guys like us) have fewer fate in him that it was several months ago. He still creates hype, as we still see a lots of Elon Musk related topics here, but forum or regular users stopped to praise him. We no longer buy like hell immediately every alt he mention in his tweet. Trust is gone.

[Cling18]

He isn't as powerful as before because some of his tweets failed to impress lots of crypto users. It was clearly for his own good which disappoints lots of investors who are following him. However, we can't hide the fact that there are still people who follow him because he's too influential.

[nightxglow]

Why he could do that? Simple. That's because he has such a huge number of followers, and has a big influence, enough to make people do or follow what he said. He's well known as a figure related to bitcoin, and that's why people believed and put trust in him, especially those who don't really understand about crypto, and finding out about crypto from him. They will follow what he said, and make him like a rule. If he tweets good, they follow, he tweets bad, they also follow. That's how influencer works. But now many people are mad of him already, so maybe that's why his power are getting lessen already now.

[masterrex]

Just because he says some negative or positive stuff, why do people react so much?

Whatever the reasons, are people done listening to him now or what?

I remember when he first tweeted anything about crypto it was doge. He just had a simple rocket with doge on the shuttle and posted that.


SOmehow.... this made doge go from less than a cent all the way up to 7 cents! Wtf kind of power is that?

Then he did some more doge tweets making it go as high as 70 cents.


But then with just one simple tweet, he dumped the bitcoin price. HOW!?


But yeah, has he numbed peoples nerves enough yet or what? It seems like it considering his last positive tweets haven't done much to bump the price up. What gives? Is his power done with or is it just easier to crash a market instead of pump it?

The previous events that you quoted are clear pronouncements on how the crypto market behaves, and for me it's dangerous, Elon's tweet is just simple there's nothing special about it. But the message of that tweet depends on the one who reads it. (interpretation) suddenly many speculators and risk-takers are buying that 1 cent tweet and driving the price of the corny "joke" to what is now. but sorry for those people who bought it on the peak.

[electronicash]

Just because he says some negative or positive stuff, why do people react so much?

Whatever the reasons, are people done listening to him now or what?

I remember when he first tweeted anything about crypto it was doge. He just had a simple rocket with doge on the shuttle and posted that.
SOmehow.... this made doge go from less than a cent all the way up to 7 cents! Wtf kind of power is that?
Then he did some more doge tweets making it go as high as 70 cents.
but then with just one simple tweet, he dumped the bitcoin price. HOW!?
But yeah, has he numbed peoples nerves enough yet or what? It seems like it considering his last positive tweets haven't done much to bump the price up. What gives? Is his power done with or is it just easier to crash a market instead of pump it?

The previous events that you quoted are clear pronouncements on how the crypto market behaves, and it's dangerous, Elon's tweet is just simple there's nothing special about it. But the message depends on the one who reads it, suddenly many speculators and risk-takers are buying that 1 cents tweet driving the price of the "joke" to what is now.

it's part of the manipulation. i don't think the simply bitcoiner with just a fraction of BTC will start selling right after elon tweets negative about BTC. but when a big amount of BTC that moves the price is dumped, that's when the rest follows. its fun sometimes to just follow them as well. elon's tweet sometimes can be your trading signal. 

[Similificator]

Just because he says some negative or positive stuff, why do people react so much?

Whatever the reasons, are people done listening to him now or what?

I remember when he first tweeted anything about crypto it was doge. He just had a simple rocket with doge on the shuttle and posted that.


SOmehow.... this made doge go from less than a cent all the way up to 7 cents! Wtf kind of power is that?

Then he did some more doge tweets making it go as high as 70 cents.


But then with just one simple tweet, he dumped the bitcoin price. HOW!?


But yeah, has he numbed peoples nerves enough yet or what? It seems like it considering his last positive tweets haven't done much to bump the price up. What gives? Is his power done with or is it just easier to crash a market instead of pump it?

People reacted so much back then because it was during a bullish market and because of the fact that elon musk himself is a very successful individual with many eyes watching him both in and out of this industry, also the people are desperate for good investments due to the effects of the corona virus pandemic, people need something to believe in and Elon Musk had the best timing.

The people right now are divided. Some still believe in him, while others are stuck with useless bag of shitcoins. There are also others that don't care and just take advantage of the momentum driven by his tweets. And of course, there are those people who are tired of his crap and those that just don't care. Whichever the case, the public is maturing along with this industry which is why I think that in the next years to come, bitcoin will not be easily swayed by some FUD or Shilling anymore. But as of today, we will, time and time again still witness some volatility just because of some people's tweets.