It doesn't even matter, does it? Let’s assume that he literally tweeted "bitcoin price will rise", does that really matter? For all intends and purposes he is not a financial hedge fund manager type of person or an executive in a wall street stock company. Obviously even if he was, that doesn't mean that he would know what bitcoin will do, it would be just a simple calculated guess.
However, this dude is owner of a car company, a space shuttle company and a social media company nowadays. Which means that we are talking about someone who we shouldn't listen to or care about. Price will go up when we say it does, and that means we will buy, that’s it, nothing more to it.
However, this dude is owner of a car company, a space shuttle company and a social media company nowadays. Which means that we are talking about someone who we shouldn't listen to or care about. Price will go up when we say it does, and that means we will buy, that’s it, nothing more to it.
I don't think Elon Musk has any knowledge on crypto trading whatsoever. He's just playing with investors in order to get what he wants (which is profit). After all, anything he says (either good or bad) has a direct effect over crypto market prices. It's going to take quite some time before investors get tired of Elon Musk for good. In the meantime, we should expect BTC's market price (especially Dogecoin) to move according to Elon Musk's comments on social media.
I'd have to say it's obvious this will be a long winter for Bitcoin and other cryptocurrencies. After what happened with the Terra/LUNA implosion and the FTX collapse, it's going to take quite some time before investors start pouring money into the market again. And that is to say that the global economy needs to recover first for us to see positive changes in market prices. The crypto space is widely unpredictable, so I'd suggest the OP to buy and "hodl" BTC without paying attention to market prices. Who knows if the next BTC halving would lead the market "all the way to Mars"? Just my opinion
