Bitcoin losing its importance

[Vaskiy]

Once again the market has been manipulated after the statement of Elon Musk "Tesla will Re-accept Bitcoin" and this way based on the volume of accumulation one day bitcoin network might go completely into the hands of centralized powers.

It needs to be allowed for its real growth. Quite often these guys manipulating the market looks like an asset that doesn't have its own value, but depends on someone's words.

[franky1]

Once again the market has been manipulated after the statement of Elon Musk "Tesla will Re-accept Bitcoin" and this way based on the volume of accumulation one day bitcoin network might go completely into the hands of centralized powers.

It needs to be allowed for its real growth. Quite often these guys manipulating the market looks like an asset that doesn't have its own value, but depends on someone's words.

zoom out your chart

...
when something is to provoke a market it takes time for people to deposit funds and the make a market order.
so if you are looking at a 1hour-1day chart and think you see a large movement.. zoom out to the month view and you will just see its another simple wave in the same range of the other waves this month
10%
5% +- of a $31k medium

its been 31-32k for most of the last 7 days with   a lil dip down to high 29k
.. but thats all within norm range for july

in short. elon has not made any impact. so calm down and stop looking at the smallest scale movement and think they are huge because they fill up the whole gape of an hourly market

[mk4]

This is really nothing new. I really dislike how much power Elon has over the markets, but good/bad news have always moved markets to a certain extent. Even a good bullish article from the likes of CNBC can move markets. And how is someone being able to move the price of a certain asset make Bitcoin lose it's importance?

[TravelMug]

Once again the market has been manipulated after the statement of Elon Musk "Tesla will Re-accept Bitcoin" and this way based on the volume of accumulation one day bitcoin network might go completely into the hands of centralized powers.

Forgot about the influence of Elon Musk in bitcoin market. What do you mean by bitcoin network going into the hands of centralized powers?

Chinese government are choking the Chinese bitcoin miners, meaning they could move outside China or some other nations leading bitcoin mining, taking it out of the hands of the Chinese, so clearly bitcoin mining should be more spread out and there will be no more manipulation and centralization.

It needs to be allowed for its real growth. Quite often these guys manipulating the market looks like an asset that doesn't have its own value, but depends on someone's words.

Of course, bitcoin is so resilient that it will and can grow naturally without outside influence or manipulation from whales. Retail investors > manipulators.

[BitMaxz]

I tried to search the Elon musk tweet but I couldn't find it.

Does it seem that you heard them from blogs, news, or articles? They already publish that news last month but that news doesn't have a big impact on the market.

The market is trying to decline but there is strong support on $29k-$30k. My bad I set my stop limit on $30k and it triggered and sold
I lost 8%-10% just now I thought that it won't bounce back. I look at the 1-month chart it's pretty stable playing at $29k to $35k just like what franky1 said above.

[mk4]

I tried to search the Elon musk tweet but I couldn't find it.

Does it seem that you heard them from blogs, news, or articles? They already publish that news last month but that news doesn't have a big impact on the market.

The market is trying to decline but there is strong support on $29k-$30k. My bad I set my stop limit on $30k and it triggered and sold
I lost 8%-10% just now I thought that it won't bounce back. I look at the 1-month chart it's pretty stable playing at $29k to $35k just like what franky1 said above.

The statement was pretty much Elon Musk saying that Tesla will re-accept bitcoin for payments when mining reaches 50% renewables, which is pretty much old news by now and just restated by Elon hours ago on The ₿ Word[1] livestream.

[1] https://www.youtube.com/watch?v=Zwx_7XAJ3p0

[NathanielParker]

Musk meant that he would consider accepting Bitcoin payments again. His words are now red, skyrocketing, time after time, the market price is obviously affected again. He has said that Bitcoin's high transaction fees, low transaction volume and Bitcoin are not good for the environment. I don't understand how the media only report the good things he said, but not these. He still likes fast Dogecoin.

[Kemarit]

Musk meant that he would consider accepting Bitcoin payments again. His words are now red, skyrocketing, time after time, the market price is obviously affected again. He has said that Bitcoin's high transaction fees, low transaction volume and Bitcoin are not good for the environment. I don't understand how the media only report the good things he said, but not these. He still likes fast Dogecoin.

Well, we have to take everything with a grain of salt. He has been spewing negative statements against Bitcoin specially this whole 'renewable and green" argument of his. On the other hand, we can read between the lines, his company is selling solar panels, so called to produce clean energy.

So is he really fighting for green energy bitcoin? or just wanted to promote his products? You'll be the judge.

[titular]

Once again the market has been manipulated after the statement of Elon Musk "Tesla will Re-accept Bitcoin" and this way based on the volume of accumulation one day bitcoin network might go completely into the hands of centralized powers.

It needs to be allowed for its real growth. Quite often these guys manipulating the market looks like an asset that doesn't have its own value, but depends on someone's words.

The "pumps" happened WELL before Elon even went live at the conference. Him saying that had NO effect on the market. Do not kid yourselves.

[songchunlai]

Hashrate is an important security guarantee, it can keep your money there safely for 100 and more years.

[pooya87]

Once again the market has been manipulated after the statement of Elon Musk

What in the world are you talking about? Bitcoin market is behaving exactly the same way as it has been behaving for the past 2+ months and price is also pretty much in the same tight range as it has been all this time.
Unless it goes above major resistance or fall below major support you can't say a random meaningless statement by an internet troll is affecting the market!

[temple]

This is really nothing new. I really dislike how much power Elon has over the markets, but good/bad news have always moved markets to a certain extent. Even a good bullish article from the likes of CNBC can move markets. And how is someone being able to move the price of a certain asset make Bitcoin lose it's importance?

But I feel that the impact of certain personalities or good/bad news decreased a lot over the last five years. Apart from the impact Elon Musk had, which was obviously quite severe, the market reacted to news much more in the past than it does today. Think about the impact when China announced a ban for the very first time, the impact was quite significant. Now there is still an impact, but not anywhere near to what it used to be. Maybe I recall that incorrectly, but I think news became less impactful over time.

[davis196]

Once again the market has been manipulated after the statement of Elon Musk "Tesla will Re-accept Bitcoin" and this way based on the volume of accumulation one day bitcoin network might go completely into the hands of centralized powers.

It needs to be allowed for its real growth. Quite often these guys manipulating the market looks like an asset that doesn't have its own value, but depends on someone's words.

The Bitcoin price is moving in a -/+5% window(which is totally normal) and you are talking about price manipulation?Are you kidding me?
I don't know about any recent statements made by Elon Musk,but the Bitcoin price didn't react to these statements,which is a good sign.
Decentralization of Bitcoin has nothing to do with the distribution of Bitcoins around the globe.
The price of every financial asset can be influenced by "someone's words".What about stocks or currencies?
We can't stop the crypto whales from buying as many Bitcoins they want.

[cabron]

It's becoming really true. Elon tied to green energy and then mining Bitcoin will be regulated by governments and then stablecoins also cracked down and then FED will introduce the CBDC coin they have to replace these stablecoins. Is been manifested already in El Salvador, although many of us will think it's adoption but on the other side, it's also achieving the control of the people there.

[20kevin20]

The only way we can stop this manipulation is by stopping from giving Musk attention at all. If it's someone's fault, it's ours. Markets don't move by themselves, people are just silly and buy or sell based off random tweets.. which is crazy but it's the era we're living in, lol.

This is how Bitcoin grows after all. Billionaires will never cease to manipulate markets because this is how they take advantage of the poor, and when you know you're gomna lower or bump prices by simply sending a tweet, it's hard not to use that to profit off the lower classes of the society.

[Mistafreeze]

Once again the market has been manipulated after the statement of Elon Musk "Tesla will Re-accept Bitcoin" and this way based on the volume of accumulation one day bitcoin network might go completely into the hands of centralized powers.

It needs to be allowed for its real growth. Quite often these guys manipulating the market looks like an asset that doesn't have its own value, but depends on someone's words.

Bitcoin is losing it value and importance to the hands of influencer like Elon Musk trying all possible best to control the activities of bitcoin using diverse ways to influence it price to their own direction without minding the risk that might be faced by micro investors with small amount of Bitcoin. It looks as if Bitcoin is being hijacked by Billionaire who are only interested in moving the market to their favorable direction.

The entire Bitcoin market has many forces that it pulling it in opposite direction, it takes greater force to move  the direction of Bitcoin to a certain level before being opposed by another force of either buying or selling it. The government had been looking for avenue to regulate Bitcoin market using the word ADOPTION to decieve traders of their love for Bitcoin while others will still continuing opposing it like the game of thrones. If eventually these influencers hijack Bitcoin, it will really have much effect on micro traders with limited funds.

[Poker Player]

I do not share the OP's pessimistic view at all. I think that with Bitcoin it happens like in the stock market. A certain tweet from a famous person or other events can make the price go up or down in the short term but if the fundamentals are good, the long term trend is always up, regardless of short term volatility.
Bitcoin will first reach $100K and then $1M. When exactly I don't know, but to reach those goals it won't matter what Musk says.

What matters is the decentralized, autonomous and supply-limited nature of Bitcoin. That's what makes it important and not what Musk says or doesn't say.

[cotton ball]

if we always believe in Elon Musk's tweets and always believe in the posts of the rich, with their negative posts, saying bitcoin lost its importance, we will always fall, and we will be weak, and we are forever under their control, whenever there is a negative post from certain people the market price starts to become unstable, and those of us who have weak hands start to waver, even though all of that is just their move to scare us, kuta leave bitcoin and rich people come to take profits, we have to learn from last year, don't fall into the same hole

[ropyu1978]

we should not have to follow their every post, because I am very sure behind their posts there must be a certain purpose, they want to play in market prices, they are all the time, even every second they always monitor market prices, they will do everything possible to scare weak hands, their goal is only to make profit, if we always believe in their tweets, our lives will never change..

[Liamttw]

What in the world are you talking about? Bitcoin market is behaving exactly the same way as it has been behaving for the past 2+ months and price is also pretty much in the same tight range as it has been all this time.
Unless it goes above major resistance or fall below major support you can't say a random meaningless statement by an internet troll is affecting the market!

I agree with you that the Bitcoin market will not be controlled by Musk. If the bitcoin market price is affected by some announcements, it will become very fragile, but observing the market trend is not the case. The long-term bitcoin is rising and will become stronger and stronger.