[2023-05-25] Forbes: Elon Musk Issued A Stark Crypto Warning After $2 Trillion..

[pawel7777]

Not much of a news, but still a press hit from the main stream - Elon Musk says that perhaps buying crypto would be unwise.

Elon Musk Issued A Stark Crypto Warning After $2 Trillion Bitcoin, Ethereum And Crypto Price Crash

https://www.forbes.com/sites/digital-assets/2023/05/25/elon-musk-issued-a-stark-crypto-warning-after-2-trillion-bitcoin-ethereum-and-crypto-price-crash/

Bitcoin, ethereum and the wider crypto market have suffered an almighty crash since peaking at a combined value of around $3 trillion in late 2021, wiping away $2 trillion of value (even as bitcoin braces for a 3 billion user shock).

Subscribe now to Forbes' CryptoAsset & Blockchain Advisor and successfully navigate the bitcoin and crypto market rollercoaster

The bitcoin price, which crashed to around $16,000 per bitcoin in the aftermath of the FTX crypto exchange meltdown last year, has rebounded this year, sparking a wave of bullish bitcoin price predictions.

Now, Elon Musk, who helped fan the flames of the huge 2021 bitcoin and crypto bull run, has said he wouldn't advise "anyone to buy crypto"—despite Wall Street giant Goldman Sachs and Microsoft backing a new blockchain.

[cr1776]

The best time to buy is when it is not being hyped.  Just ask the people buying banks in 2009-2012.  Or Apple in 2000.  Buying at other times isn't bad, but the most bang for you buck is when there is blood in the streets.

[bbc.reporter]

@pawel7777. If Elon is hyping, he is dumping. If Elon is warning not to buy, he will be buying. We have witnessed his shilling tactics on dogecoin already hehehehe. We are presently seeing his fear tactics. My prediction, within 1 year Elon will make an announcement that one of his companies has bought bitcoin to hold for the treasury.

[Kakmakr]

@pawel7777. If Elon is hyping, he is dumping. If Elon is warning not to buy, he will be buying. We have witnessed his shilling tactics on dogecoin already hehehehe. We are presently seeing his fear tactics. My prediction, within 1 year Elon will make an announcement that one of his companies has bought bitcoin to hold for the treasury.

Do you really think, Elon Musk need to use "fear" tactics to influence the market? The guy have been the richest person in the world on several occasions and his Bitcoin ownership, according to him.... is very small.  

Yes, he joked around with Shiba and Dogecoin a few years ago, but he got into trouble for that... so I doubt that he will try and do that again. I think the US sentiment towards Crypto currencies are negative at the moment, because strict regulation is on the horizon and Elon Musk have seen that.  

[Lucius]

Mr. Mars, as usual, wants to be in the center of attention, although anyone with a little common sense shouldn't be the least bit excited about what he says. The article talks about something that didn't happen only in 2021/22, but happened many times in history, and now we are in 2023, where Bitcoin is one of the best assets if we look at the price since the beginning of the year.

In addition, how much money did his companies lose in the last year, and how much is Twitter worth today?

[bittraffic]

People still listen to him and those who will listen will also be left buying a higher price of BTC. He still shills doge in a recent interview saying he still like it.

He is saying all these while he plans to add BTC and Eth wallets on twitter so this is like the classic observe what they do and not what they are saying thing.

[pawel7777]

...
He is saying all these while he plans to add BTC and Eth wallets on twitter so this is like the classic observe what they do and not what they are saying thing.

Are the BTC/ETH wallets on twitter confirmed info or just a rumour? I haven't heard about it before, but then again, I'm a bit out of the loop in recent news.

Anyhow, as I mentioned in the first post, I don't think that what Musk said was even worth writing an article. I take it as just him saying "don't invest more than you can afford to lose" in an awkward way.

[bbc.reporter]

@pawel7777. If Elon is hyping, he is dumping. If Elon is warning not to buy, he will be buying. We have witnessed his shilling tactics on dogecoin already hehehehe. We are presently seeing his fear tactics. My prediction, within 1 year Elon will make an announcement that one of his companies has bought bitcoin to hold for the treasury.

Do you really think, Elon Musk need to use "fear" tactics to influence the market? The guy have been the richest person in the world on several occasions and his Bitcoin ownership, according to him.... is very small.  

Yes, he joked around with Shiba and Dogecoin a few years ago, but he got into trouble for that... so I doubt that he will try and do that again. I think the US sentiment towards Crypto currencies are negative at the moment, because strict regulation is on the horizon and Elon Musk have seen that.  

He does not need to do it, however, being the troll he loves to do it and we might have just witnessed it as mentioned in the news article hehehehe.

In any case, I am not arguing. I am saying that we should be skeptical when it comes to Elon because he has become very much untrustworthy similar to Jim Cramer hehehehe.

[YOSHIE]

The words of rich people are difficult to predict accurately, indeed the press about Elon Musk has always been the talk of internet citizens around the world, today he said A, maybe tomorrow he will do B, rich man......!

If I personally (devil) with the press circulating about Elon Musk, whether he wants to buy Crypto or not, it doesn't matter, Crypto develops in the crypto market not because of Elon it happens from year to year, he bought doge yesterday, crypto is still at new ATH, this time he wants to buy or not ATH is still happening.

Not much of a news, but still a press hit from the main stream - Elon Musk says that perhaps buying crypto would be unwise.

he said this, because he was fed up with the results obtained at the doge a few years ago, for that he dared to say it, in fact he had summarized: List of Top 6 tokens that will have Elon’s attention in 2023.

[Woodie]

The best time to buy is when it is not being hyped.  Just ask the people buying banks in 2009-2012.  Or Apple in 2000.  Buying at other times isn't bad, but the most bang for you buck is when there is blood in the streets.

Totally agree here and I think red markets  usually happens when Musk is on the negative & speculative side of the markets because the man has proven countless times that he can be toxic at times and with the huge following he has...he can not be ignored unfortunately.

I wonder why he keeps commenting on crypto issues,  is he still a crypto sympathizer

[pawel7777]

he said this, because he was fed up with the results obtained at the doge a few years ago, for that he dared to say it, in fact he had summarized: List of Top 6 tokens that will have Elon’s attention in 2023.

What am I even reading here? Looks like we no longer need Elon to hype up the coins, now we have "experts" trying to do just that by "predicting" which coins will capture his interest.
This is getting ridiculous and needs to stop.

[zasad@]

Not much of a news, but still a press hit from the main stream - Elon Musk says that perhaps buying crypto would be unwise.

Elon Musk Issued A Stark Crypto Warning After $2 Trillion Bitcoin, Ethereum And Crypto Price Crash

https://www.forbes.com/sites/digital-assets/2023/05/25/elon-musk-issued-a-stark-crypto-warning-after-2-trillion-bitcoin-ethereum-and-crypto-price-crash/

I don't understand the purpose of this article.
I understand Elon Musk and other manipulators that they need hamsters to sell their coins on fear. Then the manipulators will buy these coins cheaply and a new crypto summer will come. The best strategy to counter such manipulation is hodling.

[pawel7777]

I don't understand the purpose of this article.
I understand Elon Musk and other manipulators that they need hamsters to sell their coins on fear. Then the manipulators will buy these coins cheaply and a new crypto summer will come. The best strategy to counter such manipulation is hodling.

The purpose of the article is in line with the "mission" of today's media - to get clicks.
As I said above, he literally said nothing noteworthy, just an awkward way of saying "be careful when investing in crypto, it could go up or down", but, as he is now one of the most followed celebrities, anything he says can be turned into a press article.

I don't think he's even trying to manipulate the market with statements like that. If that was his intention, he'd do it in a more effective way.

[zasad@]

I don't understand the purpose of this article.
I understand Elon Musk and other manipulators that they need hamsters to sell their coins on fear. Then the manipulators will buy these coins cheaply and a new crypto summer will come. The best strategy to counter such manipulation is hodling.

The purpose of the article is in line with the "mission" of today's media - to get clicks.
As I said above, he literally said nothing noteworthy, just an awkward way of saying "be careful when investing in crypto, it could go up or down", but, as he is now one of the most followed celebrities, anything he says can be turned into a press article.

I don't think he's even trying to manipulate the market with statements like that. If that was his intention, he'd do it in a more effective way.

If the article has no useful information and is made to steal traffic and clicks from users, then why should we help the author of this article?
I am not subscribed to Ilon Musk and I do not trust his statements, because many people are subscribed to him and every post could be his manipulation.

[Argoo]

he said this, because he was fed up with the results obtained at the doge a few years ago, for that he dared to say it, in fact he had summarized: List of Top 6 tokens that will have Elon’s attention in 2023.

What am I even reading here? Looks like we no longer need Elon to hype up the coins, now we have "experts" trying to do just that by "predicting" which coins will capture his interest.
This is getting ridiculous and needs to stop.

I do not consider Elon Musk a specialist in the cryptocurrency market, and therefore I am almost indifferent to his advice and predictions. It's quite difficult to be an expert in several different fields these days. His large fortune allows him to treat cryptocurrencies as a hobby, and he uses this to attract the attention of millions of people.

[pawel7777]

he said this, because he was fed up with the results obtained at the doge a few years ago, for that he dared to say it, in fact he had summarized: List of Top 6 tokens that will have Elon’s attention in 2023.

What am I even reading here? Looks like we no longer need Elon to hype up the coins, now we have "experts" trying to do just that by "predicting" which coins will capture his interest.
This is getting ridiculous and needs to stop.

I do not consider Elon Musk a specialist in the cryptocurrency market, and therefore I am almost indifferent to his advice and predictions. It's quite difficult to be an expert in several different fields these days. His large fortune allows him to treat cryptocurrencies as a hobby, and he uses this to attract the attention of millions of people.

The article you linked, which I quoted above, was not even about any summary made by Elon Musk (as you suggested), but it was just speculation on which coins could grab his attention in 2023. So essentially an attempt to use Musk's name to hype up some coins without his active involvement.

[Kakmakr]

Well, when he said that.. the Bitcoin price dropped to around $16 000 from around $30 000... so it was actually not a huge revelation.  Now the price has recovered to $30 430 ....

If people bought at $16 000 per coin, they would have almost doubled their investment capital. In hindsight.... it would have been a pretty good investment decision to buy in at $16 000.    (Elon..... Buy the Dip)