Topic: Btc price drop 12% after Elon musk tweeted Tesla won't accept bitcoin (Read 340 times)

He knows that most of the people in this world don't have their own thinking capability so he is doing better things from his perspective but is that really too dump people are there even in the bitcoin community who came here for the decentralization or those weak hands who have no idea about bitcoin, just invested because Elon Musk invested now they are selling because he told its against the world?

Isn't it obvious that the guy is trying to make money off Bitcoin if he hasn't already? I don't understand why he would even make a fool out of himself cos that's what I see. He made the adopting Bitcoin news months back and said he invested billions, now announcing again with an even more ridiculous excuse of Bitcoin energy consumption like a company like Tesla never did their due diligence of Researching on Bitcoin before Investing which to me is a new LOW for a company like Tesla and Elon Musk.

We know in crypto one of the keyword is DYOR. IMO, he must have Invested, Took profits, and decides because he can Crash the price again.  

Elon thinks that Bitcoin will die out if he doesn't endorse it. He is going to be terribly disappointed. At the most, this bearing phase is going to last for 1-2 weeks. After that we'll be above $50,000 per coin and the next bull run should take it above $100,000 level. Elon fanboys are running to accumulate as much DOGE as they can. I want to see their reaction when Dogecoin loses 80% of its value, once the hype subsides.

I don't mind it since drops can be happening any time even without Elon's tweet. 12% declines seems to find normal in a volatile market and in fact, after that short dump, it pumps back again.

We don't be afraid of Tesla company won't accept Bitcoin because there are a lot of companies around who accept Bitcoin's payment. If they we're going to leave out from crypto, I think that is much better than to keep manipulating the market and as well as the minds of innocent individual. 

From the very beginning , I did not buy any of His words in regards cryptocurrecy now i know that I'm earning everything.

He is clowning the people inside the market and i Hate that Damn attitude that people still believes on that.
Not that Big correction because bitcoin is just drops a little an starting to recover now again .meaning tesla is not that really a big Input in market.
Well doge climbing 19% overnight? looks like His plan is working.

but as a businessman, there may be certain expressed intentions to be able to take advantage of what is said. Now it remains how everyone can not get carried away with what he says so that what is done for a certain goal is not achieved. all businessmen will do whatever is necessary to be able to benefit from what can be done and maybe according to him it is a natural thing.

He strongly believes that what he has said so far knows the impact, therefore he uses it so that what he wants can be achieved properly. and it cannot be blamed, it remains all to do not be too affected by what is said, because what is said has a certain motive.

This is what everyone is hoping but for the past several years he has the ability to influence markets and i am sure he is enjoying that notoriety and he keeps on doing that.

His words moved the price of Bitcoin to new levels and now his green house love turned the tide in the opposite direction. I doubt whether he is booking his profit as well before making this announcement of removing Bitcoin as a payment for Tesla.

I do not think it is possible that elon musk does not know this. We're talking about a person like Elon Musk, and he's considered a tech genius. and such a person may not have just noticed bitcoin's electricity consumption. this raises question marks in my mind. It is surprising and sad that he hasn't noticed it for so long and has made such a decision now. This decision has already created very negative effects on the market. This is another sad issue. elon musk started to hurt the market.

He can be really an interesting person sometimes. Because his reasoning for Tesla's putting an end to Bitcoin payments is really ridiculous. I think there is no way that he didn't know the high electricity consumption thing for BTC mining.

Perhaps the statement of Elon Musk did not have much influence on the fall in the price of Bitcoin, but, nevertheless, the American indices also sagged, and his words have no influence on them. Bitcoin is not Doge, for a long time not a single person in the world, even the greatest, can influence it. I, nevertheless, tend to argue that the fall in the rate of Bitcoin was influenced by the fall in the rate of American indices, somehow it sounds more plausible.

ever since Doge made a move because of the power of tweets, I've never been interested in following him. I only monitor and enter the market with more useful coins or tokens with caution, because they are very messy. Now, after his tweet about btc had a pretty strong impact even though I'm not sure everything that happened was simply because of that, there are other things that have a strong influence like the whales' play
Well, here are the facts, we must always be prepared for extreme price changes, even if it's just a rumor.

I have been watching what Elon Musk has done in the last few days in a truly amazed and frustrated way. He thinks he is the owner of this market and acts as he wishes. this is very false. Millions of people opposed him, and now there are millions of people who do not like Elon Musk and do not even want to hear the name tesla. He is making very wrong moves and should be withdrawn from the market as soon as possible.

Well, the tweet of Elon Musk was somehow like a test to them how would the people react. I think it has been set up to analyze the brainpower of the bitcoin community and how much would a simple statement influence them and in what ways? On this part, I was very disappointed when I saw that bitcoin’s price went down because of the tweet he did. Like he never said he will stop joining cryptocurrency. He said that he will find an alternative to bitcoin with lesser polluting energy consumption.

^ Rumored either ADA or XRP.
However, I don’t really think why did Elon Musk tweeted it but one of the angles I see is that based on his tweet it seems like Elon Musk is looking for an alternative coin that they will then considered rather than BTC. Most likely are the coins that use less energy or uses renewable energy. It is really funny how he did say that BTC is bad for nature well in fact, he uses fiat which is being produced and created using polluting energies, and yes of course trees being cut off from the forest! Elon Musk must be reasonable on that part or probably this guy has a different agenda.

Communities will not be able to cheat twice this way. And because of these events, most of him will simply be disappointed in Elon Musk and finally stop looking at him as an idol who understands everything. First of all, he worries about himself and his companies, so he just doesn’t care about bitcoin and everyone who is connected with it, it is clear to everyone who thinks with his head. As for the fall, this phenomenon is unlikely to drag on, since besides Tesla, a lot of companies are interested in bitcoin and they will not go anywhere. I doubt that all after Elon Musk I will get rid of them at a loss.

Character wise, Elon Musk is failing it on this tweet. We all know the Elon Musk is the most influential and richest man in the world. But it doesn’t mean that he has to let people go through his way. Look at the people now, a lot fo them couldn’t even sleep though it is a part of the field.

In my opinion Elon Musk is associating with people who own the game of the Bitcoin and had negotiation with them so they all benefit with it. I know the capacity of Elon Musk’s decisions and I know that this guy isn’t acting crazy. He has an agenda that we have know so we can also get along or at least avoid being affected negatively.

There are gossips that says Elon Musk is planing to rebuild a coin inspired in Bitcoin but has lesser energy cost and all sources are renewable. Besides from that, there are also saying that if that happens the nodes (bitcoin inspired) could be release in the space so it would live longer than anything. But yes of course, we have to see it first to believe.

It's quite obvious that the people who joined prior to the 2021 bull run got to know that Elon was manipulating the prices of most of the coins since the beginning. As soon as he started shilling a shitcoin (doge), we know that this guy can do more harm to the space than doing good. Many of the projects (including bitcoin) are spending years of time for R&D and bringing in a new protocol change whereas the development of a shitcoin like doge hasn't been active for over 1-2 years in github. I predicted the harmfulness by these institutional investors 2 months back in one of my post but sadly many people in the comments believed those institutions would bring them profits. I wouldn't be surprised if Saylor moves against the market and dumps his coins at some point of time in future, though it's quite certain there could be a possibility for the same.

People who wear the suites are playing with the livelihood of millions of people and probably it does cause adverse effects in the future i.e today many newbies got rekt in the bloodbath and indeed had a bad thought towards bitcoin on the whole. Satoshi initially wanted the coin to be independent and work against the governmental and powerful centralized bodies but its certainly true that the people are again handing over the power to centralized institutions for ruining such a groundbreaking technology.

Hopefully the 2021 investors would turn against these seasonal market manipulators to create a healthy market for bitcoin towards the long term. On top of that, the current bitcoin dominance stands at around 40% which vibrates the 2018 altcoin market and this does indeed prove how bitcoin is weakening against shitcoins solely because of Elon's manipulation.

Now this got me curious what crypto would Elon play next?
He has played a lot with Doge now with BTC I wonder if people would still continue to follow and play along with his plans.
And also curious how much would the price would increase ones they announced that they are asking BTC again.

I wonder what's the feeling of having the power to cause panic on the market lol. He can literally choose where to buy at his preferred market price if he wants.

However, we shouldn't take this as a thing that will last forever. The continuous action of him like that can only be lasted for long on some altcoins that he will shill but not on the steady and large community in bitcoin.

A 12% drop in bitcoin's price is nothing compared to how much bitcoin grows in the past several months. Come on Elon, just do what you want and the community is all ready to ride your future actions.

His market manipulation will not last long because most of us have been frustrated and are aware of his market intentions. If he just uses crypto to increase his wealth, many people will lose interest in following him. Most small investors followed him for the sake of profit; however, now that they believe Elon Musk has misled them by market manipulations, some will unfollow him.

The market always crashes when BTC crashed, that's what I've noticed about the crypto market. BTC is really the OG.

His words have weight. Many people rely on his tweets so whenever he makes a good news, bitcoin and doge soar, and vice versa. Investors also need to increase their self awareness by learning more about cryptocurrency rather than following any specific billionaire.

He's not riding the market he likes, he is making the market the way he likes it. There's no path that he's following, he's making the path that's being followed by everyone.
He did caused panic and made the market plunge after telling that Tesla has halted accepting bitcoin payments. On the other hand, those orders of cyber trucks and Tesla in different version with bitcoin payment has been probably cancelled by those whom ordered it.

After this event, the price started to recover again and we saw $50k+ today. But it has gone down below $50k again. Not just Bitcoin, the whole market has been affected after it. I wonder whether this will also cause the bull market to end too.

It was quite surprising to me once I saw Elon's tweet. What drama! It seems just he had announced to accept Bitcoin as Tesla payment after accumulating a large number of Bitcoin. We know only about Tesla sold Bitcoin, but who knows the reality either he sold his holding or not. And most probably he announced to reject Bitcoin payment to accumulate more Bitcoin again in the event of a Bitcoin price dump. I know he could manipulate the market again to pump Bitcoin, it's not new for him. On the other hand, he is indicating to accept other altcoins. Most probably we know what is on his mind. I don't like that kind of market manipulation. It's not good for the total crypto industry.

Elon Musk: We will accept Bitcoin for Tesla payments.
Investors: Yeeeee

Elon Musk: We won't accept Bitcoin for Tesla payments no longer.
Investors: Noooooo

They are harming to financial system but some investors doesn't care this. We have to say "STOP" to these selfish guys. Just as we get angry with them when they manipulate bearish, we should do so when they manipulate bullish.

Note: If there is wrong sentences im sorry. Im beginner.

No doubt Elon Musk has some level of influence over the crypto market and it looks as though he can control the price of coins especially bitcoin and dogecoin  but the truth is that, he's only trying to manipulate the market in his favour.
It might seem as though he is against bitcoin, but you should know that Tesla bought about $1.5billion worth of bitcoin some months ago,do you think he would suddenly turn on what he has his money in?
Only newbies and ignorant traders would follow everything Musk says on twitter. You should that he doesn't have any control over the market.

the guy is very rich and he being rich he has a lot to do with his life, I doubt he keeps thinking about twitter every day. for him to twitter and say something that will cause the market to fall a lot or go up a lot, Is something that increases his ego. he's not worried about other people's losses and it's not his fault, it's the fault of the greedy in the cryptocurrency market who fall in love with pump and dump and are wrong with anything Elon Musk puts on twitter


it is not his fault, it is the fault of the people who are deceived because they are greedy. it is not normal what happens in the cryptocurrency market


being that he is an influential person in society, I believe that what he is doing is a crime of manipulation of the market or something unethical


is trying?

the price dropped a lot thanks to him, the price went up a lot thanks to him, bitcoin and dogecoin are in the same situation when it comes to Elon Musk and his twitter

@Gozie51
You should've also included his "tweet" in OP.

---

I've praised him in the past for all of his achievements but the way I'm seeing he's manipulating the market, made me lose all of the respect that I had for him ^{[d**k move, SMH]}.
^{- Personally, I don't care about the issue surrounding BTCitcoin's value but crypto-currency users should stop following someone else's direction blindly.}

I think Musk will have a big influence on the direction of Cryptocurrency price until crypto people had enough of him.  Anyway, instead of pointing the blame of Bitcoin crash on Musk's tweet, why not ready our stash and start buying the dip.  I have a feeling Elon is accumulating since there is a huge percentage that Bitcoin might cross $100k  this cycle.

He said before that he would adopt bitcoin, which is why bitcoin prices increase so highly, and now he will say reject it as a payment option? What? I know he is a big influencer and a lot of big investor following his words, but I don't get why he would adopt bitcoin and invest billions of dollars then reject it as a payment option? I'm so confused right now.

He's playing god in the market right now, and with the amount of his followers, he can easily create market movements on his own words and actions without having the need to use his own money. He's into deep with dogecoin, though I think they will not accept it as a form of payment on Tesla cars even if the poll ended up with a lot of 'Yes' on should Tesla accept dogecoin as a payment or not. There should be some form of penalties or repercussions for what Elon is doing on the cryptomarket, though knowing that the regulations are not ironed out that well, he will keep on dodging bullets and making money out of it.

I believe that Elon Musk words have an influence in the cryptocurrency market particularly in Bitcoin and Dogecoin, But on the other hand, I also believe that the conflict in the middle east between Israel and Palestine has also a contributory factor why the market is bleeding, Because we all know that the crypto market is easily react on any information whether it's positive or negative so IMO, it is not just because of Elon Musk tweet about Bitcoin but there is another reason why it was happening.  

Yeah that's right, i mean, i know that he's a impactful influencer, and his words succeed to make bitcoin become more popular, and even the price increases so high. However, more and more, doesn't he play with the market? i'm not sure how to say this but it's like he's doing as he want. First, saying tesla adapt bitcoin, but now then rejecting it as a payment? what actually is his intention, i'm super confused. However, we really need to stop paying attention to his every little word. Don't know when it will be destructive. Better stop from now on.

Please do not post huge images just to show a price. Man I can achieve the same with : "BTC 24h change is 10.34% and the price is 50330 currently". If you want to post image you can do scale it adding additional parameter (f.e width=500):

[.img width=500]https://i.imgur.com/VyF3psI.jpg[/img]

I expected to see all longs to be rected before next leg up. Didn't expect it to happen because of Elon tweet. Well this is pure manipulation. Either Musk used his twitter power to rect Longs, or was paid by market operators (AKA manipulators) to do so or was trying to test strength of network (market reaction for good/bad news is important indicator for whales). It is not possible that he invested in bitcoin, was shilling bitcoin for months, and finally did full research realizing about the most obvious thing that every investor knows about (energy consumption). He must have known about it before. Whole action was planned.

But whether anybody follows his announcement or not, you can see what he says happening, so how does that happen  You have to understand that he is influencial with alot of money to buy hugely or sell hugely and that most affect the unregulated market. Crypto market isn't regulated and that is why any influencial personality with lots of followers on twitter can change the market direct. For fiat that is highly monitored, you can't move even your deposit anyhow hugely without the government tracing to see the legality of the money. You see, the difference.... Elon is enjoying his time and I have read he may be hyping dogecoin harder. So you may as well hodl your doge if you have. Lol

That is clear to see that Elon Musk is playing and tricking us using his tweet and influential personality, he convinces a lot of people, and then after a short while, now he is started to run out from the crypto world.

And I'm waiting now for what will be his next tweet after this. It sounds very interesting to know what will be his next plan. Or that he change his mind and say that Tesla started to accept Bitcoin or just accepting Dogecoin only. I'm not going to believe him anymore if that will be going to happen next.

I'm fairly convinced that he accepted Bitcoin to reject it in the future and disrupt the market. You don't invest $1.5B and announce your adoption to then eat your words, couple months later, with that justification. He now wants to send Dogecoin to the moon... literally! He's manipulating the entire market right now and I wouldn't be surprised if the majority of the newcomers that listen to him lose their fortunes in the near future.

There's a highly hyped community, aiming for big profits, on a crypto that has no fundamentals. Puppets of Elon.

Yes after tweeted from Elon musk profile , bitcoin already below $50000 . I think it's another ticks from Elon musk.  Most of the investors and traders don't follow Elon musk announcement. I already victimed following Elon musk announcement.

Elon musk seem to be enjoying his life and catching fun with it. What is he up to again after tweeting Tesla won't accept bitcoin as payment.

Musk seem to be riding the market the way he likes. I'm sure he knows that would create panic and push price down.

Will musk always have a big influence to the direction of price in cryptocurrency.

He has been responding for dogecoin hype and growth , now he is trying to cause panic in price of bitcoin and that has bleeding the market since 24hours.