Who says Tesla initiated last bull run is wrong

[Oshosondy]

Tesla initiated the last Bitcoin bull run? Rubbish.

I saw this on Twitter yesterday. You can see it yourself: https://twitter.com/rovercrc/status/1754146791576985665?t=oYWn43cKg08NR--EAR3gDg&s=09

Bitcoin was at $3800 in March 2020. It fall abruptly from $8000 to $3800 in just an hour or so and increased back to $5500 not quite long. 2 weeks to halving 2020, bitcoin was around $8200 and its price was not far from that after halving. After halving, bitcoin later increased over $19000 and fall back to $16900 or so.

Michael Saylor, Grayscale, institutional investors and retail investors all played their own part as some people also continue to fomo. No Tesla until the price of bitcoin increased above $43000. Tesla bought bitcoin around that price and bitcoin price increased above $50000. Later it got to $63500. Before bitcoin get to $63000, Tesla accepted bitcoin for payment.

Elon Musk later said Tesla will no longer accept bitcoin for payment and the price of bitcoin deceased below $46000. He later said Tesla will accept coin that is using 1% of bitcoin energy for mining. We all knew he was manipulating and only wanted to make people know about doge. He accepted doge. He only manipulated bitcoin price.

Later China banned bitcoin mining and bitcoin got below $30000.

Like 6 months after, bitcoin increased to $69000 which was the all-time-high of no Elon Musk influence as it was before.

How is Tesla the cause of the bull run? It is just rubbish to praise what manipulated bitcoin price when it is even not what that started the bull run.

[Odohu]

I do not agree that Tesla initiate the last bull run, they simply cash in on the hype of it because the news was all over the place. Of course their entry also added fuel to the price of Bitcoin because Bitcoin thrives on fundamental. So while they cannot take credit for initiating the bull run, the play their role in sustaining the momentum just like every other key player.

In all, I was not impressed with their entry into Bitcoin because their overall activities harmed Bitcoin more than it helped it.

[BlackBoss_]

Elon Musk joined this market in the last bull run and with his big fortune, people believe he will boost Bitcoin a lot. It is their belief like now they have similar believe with Bitcoin Spot ETFs.

They are similar but not completely the same because Bitcoin Spot ETFs are bigger than Elon Musk, Tesla or SpaceX. They are systematically bring more capital to Bitcoin market. If one Bitcoin Spot ETF stops, others will continue to operate. People will switch their capital from a closed ETF to other ETFs and I expect total capital will be the same, not decrease.

[ImThour]

If people really think a company like Tesla, whose followers are deep into buying stocks and are afraid of Crypto can initiate a Crypto/Bitcoin bull run, then are completely wrong.
Read my statement again. Most of the time, they were negatively impact Bitcoin by saying they are going to sell a bit or by not buying more.
Saylor is the guy who is the real one.

[shield132]

Tesla initiated the last Bitcoin bull run? Rubbish.

I saw this on Twitter yesterday. You can see it yourself: https://twitter.com/rovercrc/status/1754146791576985665?t=oYWn43cKg08NR--EAR3gDg&s=09

Bitcoin was at $3800 in March 2020. It fall abruptly from $8000 to $3800 in just an hour or so and increased back to $5500 not quite long. 2 weeks to halving 2020, bitcoin was around $8200 and its price was not far from that after halving. After halving, bitcoin later increased over $19000 and fall back to $16900 or so.

Michael Saylor, Grayscale, institutional investors and retail investors all played their own part as some people also continue to fomo. No Tesla until the price of bitcoin increased above $43000. Tesla bought bitcoin around that price and bitcoin price increased above $50000. Later it got to $63500. Before bitcoin get to $63000, Tesla accepted bitcoin for payment.

Elon Musk later said Tesla will no longer accept bitcoin for payment and the price of bitcoin deceased below $46000. He later said Tesla will accept coin that is using 1% of bitcoin energy for mining. We all knew he was manipulating and only wanted to make people know about doge. He accepted doge. He only manipulated bitcoin price.

Later China banned bitcoin mining and bitcoin got below $30000.

Like 6 months after, bitcoin increased to $69000 which was the all-time-high of no Elon Musk influence as it was before.

How is Tesla the cause of the bull run? It is just rubbish to praise what manipulated bitcoin price when it is even not what that started the bull run.

Tesla alone hasn't initiated the last bull run but played a significant role. It was not only Tesla but at that time PayPal also announced the feature of buying bitcoin via PayPal. This doesn't mean that Elon Musk and Tesla played the game fairly. Elon Musk was tweeting and using Tesla to make Bitcoin pump and dump , he used his influence to artificially push people to buy Bitcoin and Doge, then when price reached a high level, he sold his coins and told you that Tesla is no longer accepting Bitcoin payments and then price went down. This is what Elon did.

[Bitstar_coin]

Isn't that a thing of the past? why the need to bring it up? I mean even if some people thought of that, it will not be more than a handful of not very informed people so i don't see why it should gain attention.
Everyone or almost everyone knows bull run comes after btc halving, what usually triggers the price is unknown. At least am yet to see a particular event that was considered as the main reason why the bull run started. There are several events that usually occurs during the bull run so i guess it is hard to attribute it to just one.

[CryptSafe]

I really do not think Tesla initiated the last bull run let alone Elon Musk hype but rather a manipulation to control the market for their own benefit. The Bitcoin market was just fluctuating on hype and fomo based on Elon Musk d Tesla's interference. Although it gave a little price push up but it was not sustainable to hold the price of Bitcoin high for a long run coupled with the fact that China banned Bitcoin and it drastically affected the market for a long time before the bounce back.

Institutional acceptance of Bitcoin is not as influential as a government acceptance of Bitcoin because if the government accepts Bitcoin definitely all the institution  under the government would follow suit and that would drastically cause an increase in bitcoin  price compared to when a single institution decides to accept Bitcoin as a means of legal tender. So I think to some extent the bull started with Tesla's acceptance but could not sustain the price for a while coupled with the fact the stopped the acceptance which made the situation worse and it gotten worst when Chinese government banned their citizens from mining Bitcoin.

[Natsuu]

I do not agree that Tesla initiate the last bull run, they simply cash in on the hype of it because the news was all over the place. Of course their entry also added fuel to the price of Bitcoin because Bitcoin thrives on fundamental. So while they cannot take credit for initiating the bull run, the play their role in sustaining the momentum just like every other key player.

In all, I was not impressed with their entry into Bitcoin because their overall activities harmed Bitcoin more than it helped it.

Right? Tesla didn't kick off the bull run, they just rode the wave of hype that was already there. They did add some fuel to the Bitcoin fire but in the end their moves seemed to create more drama than help. It's a mixed bag and not exactly a hero move for Bitcoin i think

[abel1337]

Elon and tesla has great contribution on doing the manipulation that makes bitcoin sky rocket but I don't think that they started it. They just started to increase the buying pressure of the high bitcoin price before. Elon surely did market manipulation, even without his bitcoin manipulation strategy, he manipulated doge so much. I remembered the days where every elon tweets about doge, the market go crazy and pump the price of doge. It's an obvious manipulation.

These influencers are trying to make crap about who started the bull market, saying that apple will engage on cryptocurrency. I doubt it, really.

[348Judah]

Tesla initiated the last Bitcoin bull run? Rubbish.

I saw this on Twitter yesterday. You can see it yourself: https://twitter.com/rovercrc/status/1754146791576985665?t=oYWn43cKg08NR--EAR3gDg&s=09

Once we are dealing with the social media, we should expect to see a lot of garbage there because some are just there to make muse and cause people to fear or believe in fake rumours, Tesla cannot be the reason for bullrun nor any other influential organization, the bitcoin halving and the market supply in relation to it's demands makes the market rise on a high volatility and the aspect of the bull emerges than the bear, during this period, anyone is free to partake and join in the opportunity for the bullrun as they take advantage in the market just as Tesla or any other entity did then.

[super bako]

not completely bitcoin bullrun last year tesla effect. Even without Tesla it would be possible to touch the high price of Bitcoin. Indeed, Tesla has a big investor attraction but it doesn't have that effect, even though there is a slight positive influence on Bitcoin, there is a willingness to want to dump Bitcoin in a big way, which can be said to be FOMO yourself.

[goldkingcoiner]

Tesla initiated the last Bitcoin bull run? Rubbish.

I saw this on Twitter yesterday. You can see it yourself: https://twitter.com/rovercrc/status/1754146791576985665?t=oYWn43cKg08NR--EAR3gDg&s=09

Bitcoin was at $3800 in March 2020. It fall abruptly from $8000 to $3800 in just an hour or so and increased back to $5500 not quite long. 2 weeks to halving 2020, bitcoin was around $8200 and its price was not far from that after halving. After halving, bitcoin later increased over $19000 and fall back to $16900 or so.

Michael Saylor, Grayscale, institutional investors and retail investors all played their own part as some people also continue to fomo. No Tesla until the price of bitcoin increased above $43000. Tesla bought bitcoin around that price and bitcoin price increased above $50000. Later it got to $63500. Before bitcoin get to $63000, Tesla accepted bitcoin for payment.

Elon Musk later said Tesla will no longer accept bitcoin for payment and the price of bitcoin deceased below $46000. He later said Tesla will accept coin that is using 1% of bitcoin energy for mining. We all knew he was manipulating and only wanted to make people know about doge. He accepted doge. He only manipulated bitcoin price.

Later China banned bitcoin mining and bitcoin got below $30000.

Like 6 months after, bitcoin increased to $69000 which was the all-time-high of no Elon Musk influence as it was before.

How is Tesla the cause of the bull run? It is just rubbish to praise what manipulated bitcoin price when it is even not what that started the bull run.

Tesla's role in Bitcoin price fluctuations was over-exaggerated. In fact, I would say that Tesla had almost no real effect on the price. The ups and downs were mere corrections and Elon Musk never really believed in Bitcoin, he just loved the attention from our community and just really wanted to make it seem as though he is bigger than he really is. The man has a huge ego, in other words.

Bitcoin has been gradually going up over the years. That is the most important factor.

Years from now, Musk will be stuck with his worthless fiat that nobody will wish to accept anymore, and the rest of us will have his Bitcoin, that he so foolishly sold.

I see that as a win.

[icalical]

I don't think the tweet need to be taken seriously, the guy just spitting some non-sense without any argument. As far as I remember, the last Bitcoin bullrun is April 2021, and if I am not mistaken at the time tesla - in this case in Elon Musk -  accepting crypto payment and shilling Crypto, Bitcoin is already in a bull run. What Tesla do is riding the wave in the event of Crypto emergence in the difficult time of Covid. I doubt that Tesla has ever give any significant effect -good or bad-  to Bitcoin price.

[franky1]

Tesla initiated the last Bitcoin bull run? Rubbish.

firstly your rest of post talked about 2020.. the elon drama was 2021
first part of 2020 was the "covid blues" where there was no FOMO hype, and instead reasonable low for that first part of 2020 leading to the halving

now to get to the point

elon didnt scream bitcoin drama in february 2021.. it was news media that did

tesla had to file SEC docs about its purchase of bitcoin in december 2020
news media read it and announced in february 2021 to the masses which sparked the drama.. so media sparked the speculative drama in february 2021 based on a SEC filing about a december 2020 purchase.

[thecodebear]

haha OP don't get so bothered about some random person on social media making a false claim. Nobody serious would make the claim that Tesla initiated the bull run, considering that the main part of the bull run started like two months before Tesla bought Bitcoin.

[Shishir99]

How is Tesla the cause of the bull run? It is just rubbish to praise what manipulated bitcoin price when it is even not what that started the bull run.

If someone is saying Tesla initiated the last bull run, I am sure they will say ETF approval initiated the upcoming bull run. But the true fact is Bitcoin market has been corrected after the ETF approval. Non of the company bought any Bitcoin from the market. They already had Bitcoin or they gathered Bitcoin by OTC deal from exchanges like Coinbase and Binance.

I understand that such a company could manipulate the market. But that's not something permanent. They could move the market with positive or negative news. It won't stay for long. So, yes. I agree with your statement as well. I do not think Tesla initiated the last Bull run.

[Zaguru12]

Tesla's role in Bitcoin price fluctuations was over-exaggerated. In fact, I would say that Tesla had almost no real effect on the price. The ups and downs were mere corrections and Elon Musk never really believed in Bitcoin, he just loved the attention from our community and just really wanted to make it seem as though he is bigger than he really is. The man has a huge ego, in other words.

Bitcoin has been gradually going up over the years. That is the most important factor.

Although I wouldn’t blame Elon much about this because it was actually the media that spread this kind of stereotypes just to get naive people to FOMO something that Tesla it self was doing when they jump into this space during a an already full blown bull run. Sadly some people followed it and the correction of price then due to either demand or supply made them believe that an entity like Tesla can manipulate bitcoin. Elon used this to cash in on his shitcoin as people followed him there think if he can move bitcoin then he can push doge higher but as usual you know how it is ended

Years from now, Musk will be stuck with his worthless fiat that nobody will wish to accept anymore, and the rest of us will have his Bitcoin, that he so foolishly sold.

I see that as a win.

Sorry but do you think those behind this Tesla or Elon himself wouldn’t be owning bitcoins at this point of time when bitcoin is proving is worth day in day out as fiat continues ti struggle. In my perception they actually hold bitcoin secretly the same way I believe some government officials have secretly bagged it too.

[Casdinyard]

Tesla initiated the last Bitcoin bull run? Rubbish.

I saw this on Twitter yesterday. You can see it yourself: https://twitter.com/rovercrc/status/1754146791576985665?t=oYWn43cKg08NR--EAR3gDg&s=09

Bitcoin was at $3800 in March 2020. It fall abruptly from $8000 to $3800 in just an hour or so and increased back to $5500 not quite long. 2 weeks to halving 2020, bitcoin was around $8200 and its price was not far from that after halving. After halving, bitcoin later increased over $19000 and fall back to $16900 or so.

Michael Saylor, Grayscale, institutional investors and retail investors all played their own part as some people also continue to fomo. No Tesla until the price of bitcoin increased above $43000. Tesla bought bitcoin around that price and bitcoin price increased above $50000. Later it got to $63500. Before bitcoin get to $63000, Tesla accepted bitcoin for payment.

Elon Musk later said Tesla will no longer accept bitcoin for payment and the price of bitcoin deceased below $46000. He later said Tesla will accept coin that is using 1% of bitcoin energy for mining. We all knew he was manipulating and only wanted to make people know about doge. He accepted doge. He only manipulated bitcoin price.

Later China banned bitcoin mining and bitcoin got below $30000.

Like 6 months after, bitcoin increased to $69000 which was the all-time-high of no Elon Musk influence as it was before.

How is Tesla the cause of the bull run? It is just rubbish to praise what manipulated bitcoin price when it is even not what that started the bull run.

I think they played a part. After all they bought a lot of bitcoins back in 2020, which pumped the price of bitcoin drastically. Whether you think they caused bitcoin to pump or not you gotta give credit where it is due as they played a role in bitcoin's rally 3 years ago, although of course, we know they only did so because they were trying to manipulate the market into choosing Dogecoin or whatever the fuck Elon's siding himself with during the time. Personally I'm not a fan of him as well, and I hated how he did Twitter dirty all cause he wanted to profit off of it even though the previous formula worked for the site anyway, among the stupidest things he did trying to claim internet points and cementing himself as the cool meme man.

But at the end of the day, they bought bitcoins, they considerably increased bitcoin's value when the people's just about to regain their confidence in the crypto market. They marketed cryptocurrency through their social media and allowed crypto payments (which they then redacted anyway but whatever) so they still did something. I agree with you in the fact that they weren't the cause for the bull run as it's rarely the case for crypto to pump in value over a single reason anyway, but they deserve the credit in this one and I think you should hand it to them.

[Oshosondy]

firstly your rest of post talked about 2020.. the elon drama was 2021

No, I talked about 2020 and 2021. I am not saying that Tesla did not contribute, but did not started the bull run.

first part of 2020 was the "covid blues" where there was no FOMO hype, and instead reasonable low for that first part of 2020 leading to the halving

now to get to the point

elon didnt scream bitcoin drama in february 2021.. it was news media that did

tesla had to file SEC docs about its purchase of bitcoin in december 2020
news media read it and announced in february 2021 to the masses which sparked the drama.. so media sparked the speculative drama in february 2021 based on a SEC filing about a december 2020 purchase.

Bitcoin all-time-high since 2017 was in November 2020. It got to $29300 in December 2020. It got to $41950 in January 2021 before it fall and Tesla drama began.

What I said is that Tesla did not started the bull run, it is very wrong that Tesla started it. Can we say the media helped? I will say they also contributes but not in relation to Tesla that started the bull run. The bull run started in 2020.

[cabron]

firstly your rest of post talked about 2020.. the elon drama was 2021

No, I talked about 2020 and 2021. I am not saying that Tesla did not contribute, but did not started the bull run.

first part of 2020 was the "covid blues" where there was no FOMO hype, and instead reasonable low for that first part of 2020 leading to the halving

now to get to the point

elon didnt scream bitcoin drama in february 2021.. it was news media that did

tesla had to file SEC docs about its purchase of bitcoin in december 2020
news media read it and announced in february 2021 to the masses which sparked the drama.. so media sparked the speculative drama in february 2021 based on a SEC filing about a december 2020 purchase.

Bitcoin all-time-high since 2017 was in November 2020. It got to $29300 in December 2020. It got to $41950 in January 2021 before it fall and Tesla drama began.

What I said is that Tesla did not started the bull run, it is very wrong that Tesla started it. Can we say the media helped? I will say they also contributes but not in relation to Tesla that started the bull run. The bull run started in 2020.

I think he contributed to the bull market because of the coverage that Elon does especially in the SNL.  I think the media can manipulate just whichever they want the market to go. It's always about informing the public what is going on.  If the media does not mention Bitcoin on TV or in the news, the public will not make a big fuzz to check into it.

If the media announced it on TV Blackrock and SEC already have approved spot BTC ETF and explain the significance of it, it would make a piece of news but so far nothing has been said about that news on mass media. But they made it mixed with the fake announcement.