Elon Musk won't save Doge or Bitcoin this time

[Falconer]

The impact of rising interest rates may have caused the price of bitcoin to correct so far, but why does the title seem to say that Elon Musk has been the savior of bitcoin all this time?

Elon Musk is a bitcoin institutional investor known to the public for his extraordinary financial strength. He is not the savior of this asset price because it is actually the trader who determines the price the most. For some reason he should not to be the savior of bitcoin while bitcoin is traded freely whose price is determined by supply and demand. Indeed the market hype might increase when there is a lot of fresh money coming into the market, it could increase the demand and of course not only Elon Musk can do that.

[Myleschetty]

We are back to the 90s, the Fed raised the rates by 0.50% - nothing is going to stop the trend of further rate hikes - which in turn will keep on taking the air out of the balloon so called Crypto.

Are you here because you actually believe in cryptos or because you just follow Elon Musk's Twitter and base your life on that man? Why would bitcoin need Musk to "save it"?

I believe the only thing that can cause this is not understanding Elon Musk's level of enthusiasm for Bitcoin whereas the man is just a tech enthusiast and a businessman that always went for what will favor him.
After he bought Twitter, I think Elon Musk himself will be happy to see this dip market so he can buy the dip.

In the meantime, Bitcoin doesn't need anyone billionaire to be saved and what we're seeing now is the normal market dump that always happens why are people still scared after all these years.

[AakZaki]

He's not the savior he's just a profit-seeking investor. It would be wrong if you would expect him to immediately return the price of Bitcoin or Doge back higher. I think today is his chance to add assets. With money not running out he is very capable of owning a lot of BTC, to be stored for the long term. After that he will try to bring public opinion to take him back to ATH. It's the old way and I think a lot of people understand. Maybe today do not have to hope for him, his words will not be many who believe anymore.

[avikz]

We are back to the 90s, the Fed raised the rates by 0.50% - nothing is going to stop the trend of further rate hikes - which in turn will keep on taking the air out of the balloon so called Crypto.

Lol! Why he would try to back bitcoin now when it is the best time to accumulate more! Every single person who are bullish on bitcoin, are buying and buying. Short term investors are definitely selling out of panic but I would not care about it.

Elon is probably buying more and more bitcoins now but if that news come out of the market, it might go into positive. So as an avid investor he would definitely want to keep this news hidden.

[Fortify]

We are back to the 90s, the Fed raised the rates by 0.50% - nothing is going to stop the trend of further rate hikes - which in turn will keep on taking the air out of the balloon so called Crypto.

I thought that disruption in the stock market was meant to be a great thing for Bitcoin and meant to push the price up on this inflatable asset? Oh how the tune changes quickly to a new economic story. What I see is a strong correlation between the two markets, especially when it comes to falling prices. In times of fear it is evident that crypto is no safe haven, when it should be if it's meant to be the equivalent of virtual gold..

[stomachgrowls]

Who cares about Elon Musk. I never did. 1 BTC is still 1 BTC. This will pass and BTC will rise again. Actually it will exist long after us. Even if it will go down to $10,000 it will rise again. Not all people are scared like chickens when it comes to BTC. You only lose if you sell. Easy math. As for Doge, it turned to a s*itcoin anyway thanks to Mr. Musk.

People do really end up on saying something like this on which attaching out particular things which arent even really that sensible for it to be mention.This market doesnt really move for 1 man alone

and able to make out some saves or something to stop yet overall supply is in different possession which simply means the ones who do move out the market are indeed the investors/traders as a whole.
Even if you are a billionaire talking out for a market something this big wont really be that easily to be handled. Once you had been here and dealing off with this market for a while
then you arent really that getting shocked with these kind of scenarios.Its not really that new.

[Murtaza345]

Elan musk at that time has no bitcoin because if he had bitcoin the market will not be crashed like this but may be he will buy bitcoin in big numbers at this time because of market condition.because billinors always wait for right time and may be its right time.and no anyone can say exactly about the market.

[rby]

Who is Elon Musk.
The richest man in the world? That's what he is but he is still more than that. He is know in the crypto world for his negative influence, spread of fud and hype of dodge coin. Elon Musk does not do all these alone. We permit him to do it. We follow him and we are his power. It is number that makes demand and supply and it is demand and supply that moves the market.
Elon has so many followers and I heard he aquired twitter. He will continue to influence and weaker hands will continue to fall off but I want to assure you that bitcoin is not ending now and it will not end in decades to come.

[Viscore]

Who cares about Elon Musk. I never did. 1 BTC is still 1 BTC. This will pass and BTC will rise again. Actually it will exist long after us. Even if it will go down to $10,000 it will rise again. Not all people are scared like chickens when it comes to BTC. You only lose if you sell. Easy math. As for Doge, it turned to a s*itcoin anyway thanks to Mr. Musk.

Elon Musk can never control bitcoin right now. Although bitcoin is really in a bearish state right now, but its definitely the best moment to buy bitcoin right now. So there's nothing that the people would fear, as bitcoin will always recover even if its value dumps so hard. As with Dogecoin, shitcoin will aways be shitcoin, and its high value before may or may not come back in the market anymore.

[Jody.Drummer]

We are back to the 90s, the Fed raised the rates by 0.50% - nothing is going to stop the trend of further rate hikes - which in turn will keep on taking the air out of the balloon so called Crypto.

Why rely on Elon Musk to save Bitcoin. I think without Elon Musk Bitcoin is still Bitcoin. This is not a Shitcoin that can be easily pumped and dumped all of a sudden. Bitcoin doesn't need to be saved by Elon Musk. Why do people including you as if Elon is a savior? he is a businessman who if not profitable then he will turn his head.

[Silberman]

This time? When did Elon Musk save Bitcoin in the first place? His announcement of Tesla purchasing BTC just gave us a temporary pump in price, and that's pretty much it. You've worded it as if he saved us from a huge exploit or something.

Nice observation, the OP is trying to make it seem with the title of his thread as if this is something that has already happened in the past and that is not true, Elon does in fact hold huge influence over the dogecoin market but his influence over bitcoin is extremely limited, and not only that he is trying to make it seem as if bitcoin needs to be rescued at all, something that is not true either.

[Leviathan.007]

I don't really think if currently anyone cares about Elon Musk and what he does to the market. His action and decisions maybe affect the market but since most of these effects are leading to emotional decisions from the clients and these effects on the market are usually temporary effects, for example, accepting and then not accepting bitcoin from his company tesla was a good example of that. the market was moving before Elon Musk and his decisions and could reach high price levels, also bitcoin could recover the price without Elon Musk many times. Bitcoin is pretty much different than Dogecoin and that's not something Elon Musk can save or destroy.

[VasilyS]

Musk's purchase of Twitter and the fall of Bitcoin - is there a connection between these events? Read article here: https://www.cryptoprofi.info/?p=11830

[justdimin]

Elon Musk hyped up the market, sure, but he also triggered panic selling at some point when raising concerns over adoption of Bitcoin due to environmental reasons. The crypto market is potentially a bubble, sure, but I don't think that Bitcoin isn't worth anything or that it's overvalued. I believe what we're seeing now is not the explosion of the bubble, but a temporary bear market. After Bitcoin recovered from the 2018 fall, I think it proved that recovery is a matter of time. And now the price is low, sure, but it's still way higher than the 2017 ATH point.

That moment was basically the moment people gave up about Elon, sure there are some who are holding doge or even shiba and hoping that one day Elon would start pumping that again, which is a weird thing to hope for considering that we suppose to be decentralized and not depending on some whale to help us earn some money, you have a better chance sending your address to Elon and hoping that he would pay you, because why would he care about you in either way?

But, when he stopped pumping it, all the people who are smart, realized that this guy has no idea about crypto and he should not be relied upon and gave up caring about whatever he says.

[Nrcewker]

Who cares about Elon Musk. I never did. 1 BTC is still 1 BTC. This will pass and BTC will rise again. Actually it will exist long after us. Even if it will go down to $10,000 it will rise again. Not all people are scared like chickens when it comes to BTC. You only lose if you sell. Easy math. As for Doge, it turned to a s*itcoin anyway thanks to Mr. Musk.

Musk used Doge only for his benefits.
And guess what we were the ones who made DOGE so popular that overnight it got fame.
Now we are also the reason for which Bitcoins are falling down.
People are forgetting that Bitcoin's has limited supply, now or after 2 years it will again rise as it's a valuable digital asset.
So instead of selling their Bitcoins(which people are actually doing), if they buy more Bitcoins now, then it will be fruitful for them in the future.
Nevertheless Bitcoin has risen 9% from yesterday, and this is not for Mr Musk, so yes Bitcoin is recovering and soon it will be back in his regular pace.
Good luck to all the traders.

[Chato1977]

We are back to the 90s, the Fed raised the rates by 0.50% - nothing is going to stop the trend of further rate hikes - which in turn will keep on taking the air out of the balloon so called Crypto.

Sow hat Elon Musk have to do with this? Sorry but I see no connection at all mate, though it is effecting in the whole market because that rate is far high than what we expected , so best to take this into account of be affected forever.

[Questat]

We are back to the 90s, the Fed raised the rates by 0.50% - nothing is going to stop the trend of further rate hikes - which in turn will keep on taking the air out of the balloon so called Crypto.

We may remember the past and how it happen but never I think were turning like that again.
We can't deny the fact that although there are so many good things happening around at this present time, there are still worse scenarios that are accompanied with.

We could say that Elon Musk is a very rich person and really has an influence on the market but this was not enough to move Dogecoin and even Bitcoin away from the current situation. Certainly, it dumps for many reasons and Elon Musk is out of it.

[layoutph]

I am shorting ADA and
DOGE. I believe bear market is not yet done as BTC is very correlated to big assets like NASDAC, GOLD which are bearish too.

[rdbase]

I don’t know if you are joking or not, but you have been on the forum since 2015 and not in 2021, where beginners learned about cryptocurrencies because of Elon Musk.
Falling prices are corrections to build a new price bottom, and therefore once the decline ends, then it will be the beginning of a period of good rises.
So stop panicking, we are still above the $20,000 mark, so there is no real cause for concern.
we don't need Musk, he started to talk about bitcoin in 2020 not 2010

Exactly!
This is not a new thing for the richest man in the world to dip into since he obviously bored - hence he named one of his companies.

He has better things to do than either pump or dump a cryptocurrency at the moment:
https://www.theglobeandmail.com/business/technology/article-elon-musk-says-44-billion-twitter-deal-on-hold

He is playing business man doing business men things.

[KennyR]

Elon Musk is just a catalyst who triggered the crypto market, particularly the dogecoin. He served as a reason for the price pumping of the market as well as the dumping. Further he isn't considered as a big game changer in the cryptospace, because people realised his money making tactics. So, every statement from him is well analysed by common people. Being a billionaire his wealth won't get disturbed out of the bear trend. With time the growth happens, so surely he's gonna hold it.