Topic: Do you think Elon is manipulating the market? - page 5. (Read 1034 times)

I think that's the reason so many people hate Elon Musk,
he really does everything for his own benefit and I am not surprised by that because he is one of the big guys,
We'll see what Elon Musk will do in the future

Some are believe and some are not. But i think it can be considered to be manipulate market. But this is just personal opinion, because it already happened, almost every tweet of Elon Musk really affect on some people and cause them to be panic either of buy or panic sell. But i think it is just temporary.

He have to be careful about his tweets. I hope he don't make cryptocurrency community don't like him anymore. In my point of view, he and his company must keep have good image because not all people like electric car. Many people only care about their convenient, pride, price, capacity and etc. They don't think too much about environment.

Obviously he tweets more about DOGE and BTC but its hard to say that he is manipulating it since its just a tweet and people have a choice to follow it or not. For me, Elon is just taking advantage his popularity for his own benefit, he is playing in the market and some whales are riding with him that’s why the price of those two are very volatile right now.

There's no doubt about it for me it is clear that he is manipulating the market ever since he got into it,
People just doesn't want to acknowledge it and see's him as a great hero who makes crypto fly,
But you should know that he is doing it to gain profit not to help the market grow you could see how he use his power and gain from it.

   Yes , Maybe some crypto currency he manipulate by Elon Musk but not at all whole market .but I observed that he focused in Bitcoins and Dogecoin. Specially he hold the company of Tesla the first car company.

Some are believe and some are not. But i think it can be considered to be manipulate market. But this is just personal opinion, because it already happened, almost every tweet of Elon Musk really affect on some people and cause them to be panic either of buy or panic sell. But i think it is just temporary.

I think the first time Elon tweeted about doge a lot of people believed and made massive purchases of doge coins. Likewise, when he tweeted about bitcoin that could be used to buy Tesla, then many bought bitcoin. but when he gave a negative tweet about bitcoin that is not environmentally friendly, the price of bitcoin fell which was followed by a decline in other coins. but now people began to not believe what he tweeted, which seemed to play the price of bitcoin and other coins. I hope the price of bitcoin and alt coins can return to their fair prices and focus on developing future projects.

I do not think that he did that to sabotage Bitcoin (BTC) .... I think he wanted to pump Shiba and Dodge, so he just tweeted that to get people to shift their investments from BTC to Shiba and Dodge (Where he is personally invested)

Remember one thing, you have not lost money on Bitcoin or any other Crypto currency.. UNTIL you sold it. So he might have thought that, after he pumped Shiba and Doge.. that he will pump BTC again and then profit from that again.

He also did not think that his tweet would cause a ripple affect that would trigger a selloff that amount to a 40% drop in the BTC price. (Not entirely his fault, because we know a bunch of Chinese whales dumped BTC to burn another whale and to push him out of the market) 

I do not think that he did that to sabotage Bitcoin (BTC) .... I think he wanted to pump Shiba and Dodge, so he just tweeted that to get people to shift their investments from BTC to Shiba and Dodge (Where he is personally invested)

What's missing is a motive. If Elon Musk's goal was to crash bitcoin. Why crash btc when tesla is holding more than $1.5 billion btc. How is that supposed to make sense? Bitcoin's price decline hurt Elon Musk and tesla as much as it hurt everyone affected.

Influencing markets and the value of assets like bitcoin requires billions of dollars in active trading liquidity. This is something that Elon Musk lacks with the vast majority of his net worth tied up in tesla stock. If someone wanted to pinpoint the identity of person behind market trades. They would look at the trading demographic with the largest amount of money and liquidity.

Many are pointing the finger at Elon Musk and blaming him for crypto's latest decline. It would seem there are a few things missing before Elon Musk could be pronounced guilty.

List of fuds that makes the crypto market crash:
-Elon Musk tweeted about Tesla not accepting Bitcoin as a payment method
-Bitcoin price falls after China calls for crackdown on bitcoin mining and trading behavior

Elon, in my opinion, is truly manipulating the market by issuing a statement on his Twitter account that is very influential to the majority of people in the crypto scene without DYOR even his people that are engineers can't assess the reality of bitcoin mining! He stated that BTC isn't good for the environment and having a huge power consumption but many of the experts have already debunked his statement.

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He have to be careful about his tweets. I hope he don't make cryptocurrency community don't like him anymore. In my point of view, he and his company must keep have good image because not all people like electric car. Many people only care about their convenient, pride, price, capacity and etc. They don't think too much about environment.

The massive dump happened when Elon Musk tweeted about Tesla not accepting Bitcoin as a payment method, whereas a lot of people also lost investment especially beginners who recently put money hoping for a huge pump. After that, a massive fud has happened simultaneously like all of it was all planned and most of us are really f*cked up, -50% loss in the portfolio.

List of fuds that makes the crypto market crash:
-Elon Musk tweeted about Tesla not accepting Bitcoin as a payment method
-Bitcoin price falls after China calls for crackdown on bitcoin mining and trading behavior

Elon, in my opinion, is truly manipulating the market by issuing a statement on his Twitter account that is very influential to the majority of people in the crypto scene without DYOR even his people that are engineers can't assess the reality of bitcoin mining! He stated that BTC isn't good for the environment and having a huge power consumption but many of the experts have already debunked his statement.

I've read also a topic here that also debunks the claim about power consumption. ---> Debunking the "Bitcoin is an environmental disaster" argument.
and here's another one. https://coinshares.com/assets/resources/Research/bitcoin-mining-network-june-2019-fidelity-foreword.pdf

Then what happened, whales buying into the dip, and so on...

https://twitter.com/elonmusk/status/1396914548167233537

Elon Musk tweeted this as if he truly cares, despite the fact that he is the one who started the fud and made early decisions before putting it into action.
I think Elon is manipulating the market, taking advantage of all those who are following in his footsteps, and it makes me fearful that the sole purpose of crypto being decentralized may be lost soon if the manipulation continues. What do you think?

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Edited. The sole purpose of this is to raise awareness of Elon Musk's actions among new traders, so I completely agree with the majority of the responses on my thread.

People don't care anymore about Elon's tweet. He came to be a person who hasn't respect by people. And now, whatever he said just ignored it.

Maybe tomorrow he will come to bring his new coin as McAfee did, that is a fact to be true if he still on that tweet.