Topic: Elon Musk is one of the keys to be 100k$ per Bitcoin? - page 8. (Read 1654 times)

Elon is just like every other btc hodler. His actions and reactions makes no difference in the blockchain space. Though an investor  he is, he is likely to create scheme which affects the market in just a short while. But however, the market is not dependent of him as demand and supply controls the market. So therefore, that should not bother btc holders in anyways. 

Yes it is true he is one of the many influential people in the cryptocurrency space, but that doesn't mean he can do things of his own free will. It might be true that he has power, but he also can't control the price as stated. There are still many factors to bring the bitcoin price to 100k, and that will involve a lot of people in this space. You are right, if he can do what he wants, then we will see bitcoin hit 100k by now. But the reality is not so, we are still in a bear market which we really don't want to see right now.

I also noticed immediately what was pointed out in the thread: the conversation is from 1.5 years ago. Elon Musk doesn't have as much power as he used to have over the crypto market, and the majority of his power was over Dogecoin and similar, not over Bitcoin. Thanks to his influence and billions at disposal, he did have impact when Tesla invested in Bitcoin and then when Musk announced that Tesla will stop accepting Bitcoin as payments (followed by eventuall sales of the coins themselves). But the impact was, like, 15-20%, I believe, and without a big long-term effect.
I do believe Bitcoin will reach $100k in the foreseeable future (within a year or two from now), but it, thankfully, has nothing to do with Musk.

This is an old tweet which doesn't hold much value now. Elon is a strong supporter of cryptocurrency, no doubt about it! But he can't be the sole reason for bitcoin to reach 100k USD. If he had the power of such manipulation, he would have done it by now.

With the power he has, he can definitely bring in a temporary pump into the market. But it's way beyond his power to make it 100k.

This is overly funny! Well spotted! I guess that his oddly political "polls" are not enough to increase his popularity (not necessarily in a good way), he needed yet another topic on bitcointalk!

Also, while expecting "salvation" from various personalities is known to be counterproductive, in the meanwhile he kept bashing Bitcoin and kept supporting his ever-bleeding altcoin, still, some "bitcoiners" keep waiting for something - I really don't understand what - from him.

Which actually is almost what happened in this last ATH cycle, if I'm being objective (putting the last 2 ATH rallies in comparison anyway).

20-68 could still be seen as a bloat, the period in between was a bit longer than others, and we're also coming down in slower method.

I definitely like the grind.

I don't think this is a recent conversation you are supposed to bring back here to the forum. It is outdated information.


You want my honest opinion, Elon musk doesn't deserve bitcoin and bitcoin doesnt need him either, he has just been trying to remain relevant as the company CEO and seeing him be an advocate for some part of bitcoin makes me like him but I don't want his too much influence on bitcoin. Let me tell you something when people invest because of someone's influence, they are quick to sell when uncertainty occurs but someone who does his or her research before making a move in any investment doesn't shake out when there is any bad news, the fundamentals they learned do keep their judgement intact and don't usually sell. Just look at the Bitcoin chart for a minute, with all the negativity, bitcoin has remained in that zone he bought most of his bitcoin($18k), this shows that most people who bought above those levels were influenced and all sold as soon as he sell the bitcoin entrusted on the company and pretends to be as a result of illiquidity.
We need Bitcoin growth to that $100,000 but if it will take 6 years to achieve it without the world's richest people toying with its movement, we will be happy to wait to see that happen anytime.
As for the link, here is the main link where they announced they sold most of their bitcoin. the one you posted is very outdated with the company findings.

https://cointelegraph.com/news/breaking-tesla-sold-75-of-bitcoin-holdings-in-q2

Maybe. (extreme skepticism here.)

I'm saying that because Bitcoin price increases are supposed to be carried out by gigantic increases in demand (more users), and a single person can't supply that demand all by himself.

But maybe, just maybe, if he manages to beat Wall Street and cable news and convince the majority of people to own bitcoins, then yes, he would be a factor in Bitcoin's charge to $100K.

Why Elon Musk?

We are thinking about Elon Musk and his effects on cryptocurrency market too much. Bitcoin price is organically grown with halving cycles and each deflationary cycle. Elon Musk, Jamie Dimon, Michael Saylor or anyone else is only additional factor to bring Bitcoin to new all time highs. They are not decisive reasons and they are only supplementary reasons for Bitcoin growth.

If it is not Elon Musk, there will be another person or other people will mention about Bitcoin in next bull run but as said, don't believe that is real reason for Bitcoin growth.

The Bitcoin Treasuries list will be expanded more seriously.

• https://buybitcoinworldwide.com/treasuries/

are you not exaggerating by saying Elon Musk is the key to reaching ATH $100k. Even Elon Musk doesn't fully support bitcoin. Just look at how Elon Musk suspended Bitcoin payments for his Tesla car. Elon Musk is an entrepreneur who certainly has a strategy to enliven the Tesla Car and Rocket market, so Bitcoin or cryptocurrency is a good bridge. But not completely.

Elon Musk is indeed one of the most influential crypto enthusiasts, but there are still many factors that factor into Bitcoin being able to reach the new ATH. So Elon musk is neither the key nor the only person who will make Bitcoin hit the $100k price tag.

Yes that's right at that time, what I know is he bought bitcoins on behalf of his company and you should read the latest news:: https://www.zdnet.com/article/elon-musks-tesla-has-sold-75-of-its-bitcoin-heres-why/

Influencing the price or not then depending on the perspective of each bitcoiner, Musk is just a solo "player" only relying on the power of news. Because all transactions are not carried out on the spot market, it means that it does not actually affect the price directly. But it's a surprising fact that many people still consider this person's decision to be important.

Did anyone notice the date around which the OP formulated his post? The article and the tweet are from April 2021, and the company in question actually sold 10%, and then another 75% (ie 85% in total) of all the BTC it bought. People who think that Mr. Mars has (or should have) an influence on the price of Bitcoin are really living in a world of high fantasy👎

As much as we'd want the price to go up, we shouldn't want the price to go up solely because of a specific person — especially someone as seemingly bipolar as Elon Musk. I'd rather that we get a very slow grind up caused by organic demand.

He gives a huge impact in Doge before, so he might still be able to have some hype in the market but it may only lead into littele pump in a limited amount of time since there are many happenings now in different countries war, economic crisis, inflation and recession that makes hard for market to recover and starts a new pump. If Elon will announce something about Bitcoin that highlights the advancement of crypto that can hype investors to invest again in bitcoin then it will be a big help to increase BTC price diring this bear season but not that high.

Elon is a big player for sure. People and corporations will follow his lead so ultimately he can make a long term impact. Good or bad.

That being said if Elon hypothetically induced a big pump I would take my profits in a jiffy. If or when then price nears my blended amount or lower I'll DCA some of back in. Diversify some.  
 

within the market there is a natural window where people refuse to sell below and buy above.. that window is roughly $15k-$90k for 2022
so no matter what speculation is this year i cant see it poking way above $100k no matter how much sentiments pump the market

yes over time this window will move up.

yes sentiment and speculation can push the price way above $20k average for the quarter to higher numbers.. but i dont see it able to push it above $100k right now

there would need to be a big push on the hashrate/mining cost competition to shift the window up to then allow the speculative price within the window to reach new exceptional  highs

Whether Elon musk supports bitcoin or not, whether he opposes bitcoin or not, whether he hodl his bitcoin or not, whether he sells all his bitcoin or not, whether Tesla accept bitcoin or not, he can't have any effect on bitcoin in the long term.
Bitcoin can reach 100,000 dollars regardless of what Elonmusk does with his bitcoin and what says about bitcoin.
Elon musk could do some manipulations in the market with his tweets in the past. But I doubt his tweets has any more effect on bitcoin and I don't think he can affect the market significantly even in the short term.


I am not saying bitcoin will reach 100,000 dollars and this is not a financial advice. Everything is possible.

-  Good day to all my friends here on this forum, based on what you can see in the picture the two @Dave Portnoy and @Elon Musk had a short conversation about their Bitcoin holdings. And Elon Musk did mention that there hasn't been any bitcoin for sale since he bought it. Is the question true that Musk mentioned that he posted on the Twitter platform?

In addition to this, many of us in this industry community know that the price of bitcoin will increase by around 100k$ or more, there is just no certain day and year when it will happen. Also, we don't even know how many bitcoins Elon Musk holds, but he is one of the biggest holdings of bitcoins in the world today.

Do you think Elon Musk is one of those who will push the price of bitcoin up to reach 100k$ each when the bull run comes?

Your opinion is much appreciated

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Source : https://cointelegraph.com/news/i-have-not-sold-any-of-my-bitcoin-elon-musk