Bitcoin pumping because of Tesla boy?

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Quote from: cheezcarls on January 06, 2020, 08:45:07 AM

Tesla founder Elon Musk famously supports Bitcoin via Twitter. But these days, the renaissance man is making news for other reasons.

Shares of Musk’s electric automaker, Tesla, spiked after the company beat sales forecasts for Q4. The robust prediction of 360,000 cars delivered was surpassed by 7,000 units. Such explosive growth appears to prove that Musk has weathered the worst of the storm.

Could this be the reason Bitcoin keeps pumping?

Of course, Elon Musk a.k.a. Tesla Boy is supporting Bitcoin at all costs on one of his tweets. Now he has other reasons why, and I think it’s a good thing as well that would really contribute to Bitcoin’s recent pump.

However, I would not really count on that because the scammers are lurking and waiting for the right time for Bitcoin to go even higher before making a massive dump. It’s just my own thoughts though, as I’m preferring those who are scammed by PlusToken or any other scams (which these scammers are still holding to some BTCs while waiting for bull run to commence).

Nonsense. Traditionally people would sell their assets to get into cheap stocks when they perceive a company is going up, and the opposite when they feel its overvalued and about to go down.

Tesla alone is not indicative of the market. It is probably a good investment when the time is right, that is a trader's thing to decide. How is a single car company related to Bitcoin?

If anything Musk was Paypal boy. Currently he has those companies, SpaceX, Tesla, Boring, etc, all thanks to the selling of Paypal.

Tesla and Bitcoin have no correlation, in-spite of Musk actually knowing bitcoin (and maybe even hoarding some).

Answer: NO.

GideonGono

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Quote from: Nadziratel on January 06, 2020, 08:53:39 AM

I am not sure it has affect on Bitcoin price really. If he use blockchain in its wallet, it may affect but there is nothing like that.

If a person is trusted and popular then it might be an effect but not a big and quick because there are thousand or million person who use bitcoin in different country so it would be better if the president in United States would agreed bitcoin or crypto. So we can see the change.

bitcoindusts

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Quote from: cheezcarls on January 06, 2020, 08:45:07 AM

Tesla founder Elon Musk famously supports Bitcoin via Twitter. But these days, the renaissance man is making news for other reasons.

Shares of Musk’s electric automaker, Tesla, spiked after the company beat sales forecasts for Q4. The robust prediction of 360,000 cars delivered was surpassed by 7,000 units. Such explosive growth appears to prove that Musk has weathered the worst of the storm.

Click here to read the full news

Could this be the reason Bitcoin keeps pumping?

Of course, Elon Musk a.k.a. Tesla Boy is supporting Bitcoin at all costs on one of his tweets. Now he has other reasons why, and I think it’s a good thing as well that would really contribute to Bitcoin’s recent pump.

However, I would not really count on that because the scammers are lurking and waiting for the right time for Bitcoin to go even higher before making a massive dump. It’s just my own thoughts though, as I’m preferring those who are scammed by PlusToken or any other scams (which these scammers are still holding to some BTCs while waiting for bull run to commence).

I cannot find any relation between Bitcoin price and the spike in sales of that company. Did they sell this cars with Bitcoin as sole payment? I guess no... Elon Musk indeed a supporter of Bitcoin but I do not think that he will compromise his company for Bitcoin's sake (buying Bitcoins from the company profit).

Though I can say the current price recovery is good and may start a rally but we all know that there is always a possibility that this might be a bull trap though I hope it is not.

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Quote from: gentlemand on January 06, 2020, 11:29:26 AM

Got to be one of the most pathetic and straw grabbing articles so far and there are billions to choose from.

And is the author so dim that he's mistaken all those fake Elons doing 'giveaways' as the real man's support? I most certainly would not be surprised if that were the case.

I read an article the other day where some fool fell for that shit, thought the billionaire was sitting around on twitter asking people for money to double it and send it back. People today man, people today.

People every day, more like it. There is a fool every minute born,,, and he is living only to be parted from his money. How else do people become so filthy rich if not by taking advantage of other people?

You know those Bitcoin doublers? They used to be Paypal doublers. Same people, same ponzi, different branding. But I suppose they will always be suckers to keep those machines rolling.

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Quote from: Debonaire217 on January 07, 2020, 02:46:26 AM

Quote from: xZork on January 06, 2020, 01:58:17 PM

I think the recent price rise of bitcoin stemmed from tensions between the US and Iran. The people of Iran seek an alternative currency to keep their assets amid fears of war, in some local exchanges of Iran bitcoin even reaches $ 25,000.
I remember not having seen a tweet from Elon Musk saying that he supported bitcoin recently, so I think that Elon Musk has not affected the price of bitcoin in recent days.

Me too, but we aren't pretty sure because allot of things could really serve as a factor to bitcoins market price increase. Let us take into consideration that the tension between US and Iran is the top reason, followed by bitcoin halving event and is supported by minor reasons and news.

There are so many possible reasons. Actually, I am more on the idea that the rise of the price of Bitcoin is just another normal movement. Bitcoin has been moving up and down, sometimes in small steps, at times in large spikes. Why do you think that the tension between US and Iran is the top reason? Is there anything about that tension that would really point to the quick rise of Bitcoin? I can't find anything.

blckhawk

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A link to the supposed tweet is better. And I don't think there's any correlation to the recent pump. It might be about Iran, but could just be a FOMO made by the recent news about it being sold at a much higher price on Iran, which isn't entirely true. Also, I didn't notice any news about Musk's endorsement to Bitcoin. If you read the article, it wanted to point out that Tesla and Bitcoin could share the same price trend, though correlation isn't guaranteed.

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Quote from: xZork on January 06, 2020, 01:58:17 PM

I think the recent price rise of bitcoin stemmed from tensions between the US and Iran. The people of Iran seek an alternative currency to keep their assets amid fears of war, in some local exchanges of Iran bitcoin even reaches $ 25,000.
I remember not having seen a tweet from Elon Musk saying that he supported bitcoin recently, so I think that Elon Musk has not affected the price of bitcoin in recent days.

Me too, but we aren't pretty sure because allot of things could really serve as a factor to bitcoins market price increase. Let us take into consideration that the tension between US and Iran is the top reason, followed by bitcoin halving event and is supported by minor reasons and news.

piebeyb

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there are no tweets about bitcoin, I don't know if you want to say he is a Tesla boy, but little did I know he might have bitcoin but in my opinion he separates bitcoin with his company like Tesla, bitcoin goes up apparently not because of Elon Musk maybe because it's time to see Another surprise from bitcoin after a long time waiting for price uncertainty, let's watch well Wink

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This is what the media thinks is the reason of the pump:

(1) Elon Musk tweet, obviously as the OP pointed out in the link article
(2) Cyber criminals asking BTC as ransom (ransomware)
(3) US vs Iran looming war.

LOL, crypto journalism is spinning out of control again, how are those three be a contributing factors to the recent growth of the price? There might be whales again, purportedly trying to manipulate the price for all we know. Let's wait and see, maybe we can find "logical" explanation as things settle down in the next 48 hours. But the above are non-factors, IMHO.

Pamadar

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Quote from: MURONDI on January 07, 2020, 01:13:23 AM

in my opinion that's not the reason why bitcoin can go up, could be a rise in bitcoin due to the influence of the beginning of the year, but no one knows the exact reason maybe because the price is already saturated.

Or maybe because of the incoming Chinese new year though. Who knows what's happening behind this small rise from the market. But with how the threads title there's no concrete significance between this ideas.
Whatever reason for this current move hopefully it will continue the good bounce and bring much higher value to bitcoin.

bounceback

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Quote from: cheezcarls on January 06, 2020, 08:45:07 AM

Could this be the reason Bitcoin keeps pumping?

Of course, Elon Musk a.k.a. Tesla Boy is supporting Bitcoin at all costs on one of his tweets. Now he has other reasons why, and I think it’s a good thing as well that would really contribute to Bitcoin’s recent pump.

I have never heard that the recent rise in bitcoin prices was caused by Elon Musk. Is that true? but in my opinion it doesn't affect the price of bitcoin at all because the Tesla company is not linked to bitcoin, but I believe the rise in bitcoin prices in the last few days is due to geopolitical conflicts between the US and Iran which caused all investors to move their investments from conventional currencies to bitcoin because they are very worried about economic uncertainty.

bobyhodob

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Because elon musk ? Lol i dont think so but if you know how much he have bitcoin . I think bitcoin pumping because it's time to move the market has been bored for almost 3 months before
I don't really know because of what happened but I have a good feeling about this and get ready to welcome bitcoin halving

Doell

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I see when bitcoin starts to rise a bit ,before that in old altcoin there was a slight rise and then a decrease and same in the old altcoin different name too repeated can't say what this alt ,for sure to grow bitcoin there is a small community has managed use alt profits to grow price of bitcoin mate still nothing to do with musk ,when you look at market then you will surely know its still normal trader behavior

MURONDI

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in my opinion that's not the reason why bitcoin can go up, could be a rise in bitcoin due to the influence of the beginning of the year, but no one knows the exact reason maybe because the price is already saturated.

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So suddenly a well known CEO of a huge Company (who is also a Bitcoin Hodler), gets his product to the masses, stocks markets rise and Bitcoin rises with it?

wish it would be so easy, a traders dream. Cheesy

Sadlife

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I dont see any links in elon musk contribution to bitcoin pump and also wouldn't it be logical if elon musk's and with his billions of dollars worth of money invest it in his own companies instead, to further develop and support his projects rather than investing to other assets. I think most likely the pump was caused by good fundamentals such as hashrate, bitcoin halving and bitcoin being a safe haven due to uncertainty from rising tensions globally example the coming war between Iran vs Us that could lead to a financial crisis.

senne

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Those tweets of Elon Musk were more of a fun thing. Don't take it as him supporting Bitcoin rigorously. Regarding the pump, it has nothing to do with any positive/negative news. Whenever the price pumps up people start relating it to one or other thing. But if you had gone through the technicals, this pump was more than expected.
After testing the support of $6800 multiple times, price was expected to pump up as bears lost the grip.

xZork

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Quote from: veleten on January 06, 2020, 02:05:23 PM

Quote from: xZork on January 06, 2020, 01:58:17 PM

I think the recent price rise of bitcoin stemmed from tensions between the US and Iran. The people of Iran seek an alternative currency to keep their assets amid fears of war, in some local exchanges of Iran bitcoin even reaches $ 25,000.
I remember not having seen a tweet from Elon Musk saying that he supported bitcoin recently, so I think that Elon Musk has not affected the price of bitcoin in recent days.

I think that recent tensions between the US and Iran have no impact on the price
same as Ilon Musks's tweets , zero influence or less
I doubt that anyone takes what Musk says seriously after all of his failures and broken promises
and the stories of some local exchanges putting 25.0004 tags on bitcoin doesn't mean people are buying it

I have seen a lot of analysis saying that the price of bitcoin has increased in recent days due to tensions between the US and Iran, and I really cannot find another reason for the price increase.
However, your opinion is also worth noting, so in your opinion, the price of bitcoin increased in recent days for what reason?

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No direct correlation between Musk/Tesla and Bitcoin. However, any mention or awareness of Bitcoin and blockchain will increase overall sentiment-which is net positive for the space.

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How did you know bitcoin pumping because of Tesla Boy and who is Tesla Boy and where his come from, what his reputation can make bitcoin have higher price? I think bitcoin can't manipulated and control by some one else when to make bitcoin pumping or dumping, depend on investor's hand how to make bitcoin way to higher or lower price.

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