Topic: How much power does Elon still have over the crypto markets? - page 3. (Read 471 times)
As much influence and bitcoin that he has, I am pretty sure that is how much his power over crypto market is and I don't think that he won't relinquish any of that power anytime soon. And to everyone who hates him, think of stuff that you can do while he manipulates the market, you can still make some money out of it.
In my own idea, time after time when market becomes bigger, older and Elon tweets more, we will see less effects from his tweets. The first time he did a tweet the effect was too much because it was his first tweet about bitcoin and people were too emotional and this emotional atmosphere made the price rise rapidly. I can see currently, his tweets are not effect the price like he did months ago because people know him and his goals better than before, in the other hand the market is still young and after a few years will see less effects by these people in the market.
His power can be restored, just need a little time. Hopefully his tweet will be bullish next time.
I'm really hoping he tweets about doge again in a positive light. I just fear he has no more ability to pump markets, only to crash them. Seems like people were looking for any excuse to sell.
Elon musk's power on the crypto market is dependent on his social media influence and interests not that he is in direct control of how the market raises or falls.. He has a big social media platform so also an huge influence on almost anything especially crypto market.
I think the "EM" tweet is no longer valid for bitcoin CS owner after he played the market by revoking his decision to buy Tesla with bitcoin, yesterday seeing new tweet but that the impact was smaller than his first few tweets,
In reality, Elon Musk has no real power over the market. What he has is the power of influence he has over his followers. And it is important to know that his followers are individuals who have a say in the market, however small. When these lot of people listen to whatever Elon Musk says and dance to his tune, it is as though he is the one controlling the market. Control the people and you control the market.
Personally, I hardly ever listen or follow Elon Musk although I do understand how powerful his influence can be over his followers and how disruptive of the market his tweets can be.
Personally, I hardly ever listen or follow Elon Musk although I do understand how powerful his influence can be over his followers and how disruptive of the market his tweets can be.
Other than Satoshi none have control over the bitcoin network, but lot many people have control over the cryptocurrency market. This is all because of the massive holdings of cryptocurrency. Elon is very much active on the cryptocurrency market in the recent days after finding the massive fluctuation. Now he tends to make use of the market for wealth generation making common people suffer.
This is not true. Satoshi has no more control over the Bitcoin network than yourself, meaning he has none, cause you don't as well. Satoshi created Bitcoin, but control and freedom of personal funds is in the hands of it's users. Whatever manipulation Elon has over the network is only down to people's naivety, if some newbies to crypto are better informed, then we'd never even have to mention Elon Musk in matters concerning Bitcoin manipulation or control.
He doesn't have any power or control over the Bitcoin network, instead his control is on people who can be easily manipulated by FUD, if the Bitcoin network didn't have users who don't do their research and are thrown into confusion just by a single tweet, then even his manipulations wouldn't be possible.
Elon's tweets though can pump coins that are originally pump and dump coins, but his influence can't control such shitcoins and keep them up, cause with time they plunge/dump, in conclusion, if less users heed to whatever it is Elon has to say, the lesser his power/influence can be in the crypto network.
Other than Satoshi none have control over the bitcoin network, but lot many people have control over the cryptocurrency market. This is all because of the massive holdings of cryptocurrency. Elon is very much active on the cryptocurrency market in the recent days after finding the massive fluctuation. Now he tends to make use of the market for wealth generation making common people suffer.Elon's tweets though can pump coins that are originally pump and dump coins, but his influence can't control such shitcoins and keep them up, cause with time they plunge/dump, in conclusion, if less users heed to whatever it is Elon has to say, the lesser his power/influence can be in the crypto network.
Each and every tweet of him is taken into discussion. As he have got the ability to fluctuate the market there arises a big follower network that take buying and selling strategies based on his activity. In recent days it is the only possible way to profit. So, he have got good influence on the market.
Why are people so interested in trying to talk about Elon when other institution like Microstrategy are also one of the biggest companies that have backed bitcoin with big investment?
I would speculate that it is because Elon is such a famous personality globally. He is so enigmatic that people tend to follow his every move.Elon's effect in investing in bitcoin and meme coin is more accurately described as part of the price monopoly he created. He is a smart man whose power of money can play with price. $1.5 billion is a sufficient number to call it a bitcoin whale. While he is also eager to make something big out of his investment despite his supportive stance through news of his adoption as a mean of payment at Tesla. Now his influence in the market is much less than it was a few month ago and maybe that is because of his carelessness in disclosing inaccurate fact about bitcoin mining which is not environmentally friendly.
I agree, even if his company invested billions on the market, it slowly dawn to us that he is trying to manipulate the price. That's why his influence has dwindled a bit, not before when every tweet he said will have a drastic effect on the market. Now crypto investors is seeing Musk as playing with us, with the market.
He doesn't have any power or control over the Bitcoin network, instead his control is on people who can be easily manipulated by FUD, if the Bitcoin network didn't have users who don't do their research and are thrown into confusion just by a single tweet, then even his manipulations wouldn't be possible.
Elon's tweets though can pump coins that are originally pump and dump coins, but his influence can't control such shitcoins and keep them up, cause with time they plunge/dump, in conclusion, if less users heed to whatever it is Elon has to say, the lesser his power/influence can be in the crypto network.
Elon's tweets though can pump coins that are originally pump and dump coins, but his influence can't control such shitcoins and keep them up, cause with time they plunge/dump, in conclusion, if less users heed to whatever it is Elon has to say, the lesser his power/influence can be in the crypto network.
Elon's only "power" in crypto is whether or not Tesla accepts it. He wants to milk that goose for attention as long as he can. I suspect that he thought there would be more applause and a bigger show when Tesla started accepting Bitcoin, and in my opinion it was his expectations not being met with respect to his own limelight that made him stop accepting BTC, not environmental concerns. You can bet when Tesla does decide to start accepting BTC again, it will be a giant spectacle meant only to stroke Elon's ego. I can't wait.
This time, his action wasn't so much affective on Bitcoin price. It increased a little, yes. But the price has come down to its usual levels again. I wonder whether we can see this as his influence on the market is getting weaker.
Why are people so interested in trying to talk about Elon when other institution like Microstrategy are also one of the biggest companies that have backed bitcoin with big investment?
Elon's effect in investing in bitcoin and meme coin is more accurately described as part of the price monopoly he created. He is a smart man whose power of money can play with price. $1.5 billion is a sufficient number to call it a bitcoin whale. While he is also eager to make something big out of his investment despite his supportive stance through news of his adoption as a mean of payment at Tesla. Now his influence in the market is much less than it was a few month ago and maybe that is because of his carelessness in disclosing inaccurate fact about bitcoin mining which is not environmentally friendly.
Elon's effect in investing in bitcoin and meme coin is more accurately described as part of the price monopoly he created. He is a smart man whose power of money can play with price. $1.5 billion is a sufficient number to call it a bitcoin whale. While he is also eager to make something big out of his investment despite his supportive stance through news of his adoption as a mean of payment at Tesla. Now his influence in the market is much less than it was a few month ago and maybe that is because of his carelessness in disclosing inaccurate fact about bitcoin mining which is not environmentally friendly.
I guess with his supposedly latest positive tweet about Tesla going to accept bitcoin again as payment method, it move the market somewhat to $40'ish, but there was no momentum as I will say that we are in the bear market for more than a month now.
So obviously he has the power but not as big as people think of. Specially when he started his anti bitcoin sentiments, investors are now getting smarter and just wouldn't put their money in the market just because he made a sudden U-turn now.
So obviously he has the power but not as big as people think of. Specially when he started his anti bitcoin sentiments, investors are now getting smarter and just wouldn't put their money in the market just because he made a sudden U-turn now.
It looks like his influence on the market can still be quite big. He stated that he was thinking of starting to accept payments with Bitcoin again as most of Bitcoin mining started using renewable energies. And it affected Bitcoin price directly again this time in a positive way.
Virtually a lot or Virtually nothing! It might seem contradictory right? Well, thats the way it is. Elon Musk has always got his fans who are ready to back him up even with the fact that, his capable of making some decisions that could be considered wrong. These fans who idolise him and blindly follow would always be there to reflect his tweets and anticipations in the the market. Luckily for us, they are only a handful now. Crypto smart people aren't any more all loving and trusting of Elon Musk. He came up as someone who actually wanted crypto to hot heights not thought of, to bring crypto to the elites of the society but later changed to a guy who is looking out to accumulating sats from beginners. Well, it worked fir a time, but it was just for a time and that time is gone now.
To my great regret, the power is great. Since this person is an idol for many and people listen strongly to everything he says. He also thinks it is very pleasant and the fact how he disposed of this trust and "power" also says a lot about this person. I hope that authoritative people within the community, leaders of large projects and other centers will fight this populist and put him in his place.
It seems like Elon Musk still has a lot of power to affect the market. His last statements helped Bitcoin price to go up again. But it is back to 37k now. As long as he has this influence, I don't think that his power will be gone. But I'd really like to see that power gone.
For the past months, we've all witnessed how Elon Musk affected bitcoin's price after his announcement that he is not gonna accept it as a payment for Tesla anymore. Recently, he announced that he will once again consider accepting bitcoin since he found a good energy source for bitcoin mining that is not that harmful for the environment. It later on led for bitcoin's price to grow once again. Even though it is just a speculation, considering the standing or the position of Elon as a billionaire widely affects other billionaires mindset.
unfortunately he has great power over this cryptocurrency market, I see it as something very dangerous but I face the harsh reality that he has great power, the guy Is billionaire, he has a famous company and he has thousands of people who admire him and he has dozens of rich friends, of course his influence is expected to be a very big one and he is also taking advantage of that, the problem is not in the tesla man, the problem is in the greedy people in the cryptocurrency market who are buying or selling cryptocurrencies every twitter what tesla men do
test:
if he says he will buy a lot of bitcoins and tesla will also buy a lot of bitcoins, he price will increase a lot immediately
Indeed, I have seen lately that the effect of Elon presence on crypto is not too big. Even so, don't expect too much.
test:
if he says he will buy a lot of bitcoins and tesla will also buy a lot of bitcoins, he price will increase a lot immediately
Jump to: