Is Elon Musk manipulating the market? - page 8.

Abiky

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He is manipulating, people will manipulate on something they can cast their influence and Elon Musk is a man with a huge influence in the investment industry who can cast influence when it comes to investment and technology, he first tried it on Dogecoin and he succeeded and now that he and we all know that he can do it, he will do it again, it's up to people to realize this scenario.

People are foolish enough to follow a single man to make their investment decisions on crypto, when the whole space has always been about being decentralized and free from the middleman. Elon Musk must have made a lot of money with his recent tactics. Bitcoin went down for a short period of time after his criticism, while Dogecoin went all the way to the moon. It's up to this date, where Bitcoin is struggling to get past the $40k range, while Dogecoin hasn't "moved an inch". Who knows if Elon Musk continues to manipulate the market in the long run for his own financial benefit?

If this keeps up, DOGE might go to $1, while Bitcoin may be headed to a price below $20k. Imagine what would be of the crypto market if Elon Musk quits. There will be a massive "bloodbath" in price that would leave current investors disappointed! The market will surely recover albeit at a slow and steady pace. What matters is not the price per coin, but rather its usefulness. As long as an specific cryptocurrency is useful, nothing else matters. Just my thoughts Grin

CryptoYar

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Quote from: Alert31 on June 05, 2021, 12:15:55 PM

I believe that Elon Musk is one of many whales who manipulates the market. He is a great influencer that can easily influence the mind of the people either it is good or bad and it has a huge impact in crypto market. I think he did it for his own benefit and popularity.

yes, he is a whale but he did not sell his bitcoin but his followers are selling in fear. And to be honest, I have unfollowed him on twitter he's intention is only to harm innocent people.

Elon Musk's followers need to understand that he is not selling bitcoin himself but rather inciting others.

pinggoki

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Quote from: Alert31 on June 05, 2021, 12:15:55 PM

I believe that Elon Musk is one of many whales who manipulates the market. He is a great influencer that can easily influence the mind of the people either it is good or bad and it has a huge impact in crypto market. I think he did it for his own benefit and popularity.

Aside from Elon Musk, there are still so many big whales than he was who are holding tons of cryptocurrency especially bitcoin and altcoins. He is really a great influencer and many people are idolizing him but the thing is that due to he is famous and a great influencer, he is using it in order to create a manipulation inside the market just like what he has done in doge which he introduced it that he will buy tons of it and the price of the doge arise which is we clearly see that it is a market manipulation isn't it?

Alert31

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I believe that Elon Musk is one of many whales who manipulates the market. He is a great influencer that can easily influence the mind of the people either it is good or bad and it has a huge impact in crypto market. I think he did it for his own benefit and popularity.

CapGelatik

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I think Elon is indeed manipulating the market, maybe for his personal gain, but it could also be that Elon is really interested in crypto, especially Dogecoin, we don't really know what Elon is planning to do in the future, hopefully Elon's contribution will have a positive impact on the crypto world

Regarding this I myself also do not know whether he did this for his own benefit or if there was something else,
what is clear is that I personally really don't know what Elon Musk's goals are,
We'll see later whether Elon Musk's contribution will have a positive impact or on the contrary it will have a negative impact on the crypto world

speedy963

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He is. Elon musk is clearly manipulating the market regardless of it being intentional or unintentional. But the most important thing here is not Elon Musk's influence over the entire crypto industry but the coins themselves, particularly Bitcoin. If Bitcoin or any other coins in this industry gets easily swayed just by the words of a few influential people, then that just means that the coin itself doesn't deserve it's price. But this is a good thing that it happened now than later since this will mold this industry into a better one in the comming months or years. In time, the well established coins in this industry will have some immunity to these type of people which then would mark a new beginning for such coins.

SquallLeonhart

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Quote from: bison on June 03, 2021, 12:50:24 PM

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Now almost some of the people who used to respect him don't like him anymore now, because it's been proven that he never cared about other people so that every job he did was only for himself.

Yes, people have finally realized that believing what other people are saying is a mistake, but very fortunately the people who have benefited from Elon are making actions that can pump up the doge, even though Elon is actually doing it all for his own benefit.

It took a while for people to realize that and I fear that there are still a lot of people trade based on what he says as well, that is a very important situation. I do not think that there is a good reason to believe Elon has no influence over crypto just yet, people are mad at him for now but the day he makes a good move and increase price of doge or something else will be the day when he is seen as a savior once again and that is not going to be a problem.

There is really nothing that could be done to remove all of his influence over crypto just yet, we need to let him destroy himself and that is a better method, because in the end he keeps making mistakes that causes prices to fall and causing people to hate him, if I tried to make people listen to me and get him to be ignored I would fail but he does it to himself very well which is awesome to see.

fancy2973

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Quote from: goinmerry on June 05, 2021, 04:58:43 AM

Elon Musk is a high-profile individual so his words can impact everything.

But NO, he's not manipulating the market because after all, why should he? His tweet is based on his view and people are riding it. If there's manipulation, he can move his coins but there's nothing such as that, and what he's just doing is making some shill tweets.

Investors are not dumb. Since Elon creates hype, they know for sure that there will be a time that he will also do another way around and some investors take advantage of that.

I share your opinion and I also think that manipulation requires some element of intention. For example if Musk makes a tweet or let's say a bad tweet knowing that Bitcoin will go down a little and before that he shorts Bitcoin with leverage, that is manipulation of a market to me because you take an action you seek to benefit from at the detriment of other market participants. I am only talking about markets here.
If he doesn't benefit from it at all because he doesn't have substantial positions, it is more like him having fun and laughing at himself wondering why his words can move trillion dollar markets.

Ninja4206

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Yes buddy I think so . Nowadays he manipulate very much with crypto , that's why market at this time is very much down

nakamura12

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Elon Musk can manipulate or have impact on bitcoin price as he bought bitcoin. The amount of bitcoin elon musk have it does have impact on smaller amount of bitcoin owners if elon musk decides to manipulate the price and some whales may take advantages of this. If this cause FUD then they will be able to buy the bitcoins that will be sold by them.

goinmerry

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Elon Musk is a high-profile individual so his words can impact everything.

But NO, he's not manipulating the market because after all, why should he? His tweet is based on his view and people are riding it. If there's manipulation, he can move his coins but there's nothing such as that, and what he's just doing is making some shill tweets.

Investors are not dumb. Since Elon creates hype, they know for sure that there will be a time that he will also do another way around and some investors take advantage of that.

armanhusni

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Quote from: Abiky on May 21, 2021, 01:33:21 PM

Every time Elon Musk talks positively about Dogecoin on Twitter, price per coin goes all the way to the moon. The contrary happens if he talks negatively about it. Most recently, Elon Musk criticized Bitcoin's high energy consumption stating that it's harmful to the environment. This caused Bitcoin's price to plunge all the way to $42k in an instant. It's up to this point, where Bitcoin hasn't recovered back to the $57k - $58k range.

It looks like people make decisions based on someone else's opinion instead of doing their own research about it. Most people follow Elon Musk closely, so anything he says (good or bad) can directly affect the whole crypto market in general. I believe Elon Musk's true intentions is to manipulate the market for his own financial benefit. Who knows if he bought more Bitcoin after prices went down because of his tweet?

What are your thoughts? Do you think Elon Musk is manipulating the crypto market? If not, why? Will crypto carry on as usual without Mr. Musk in play? Or is it too late? Your input will be greatly appreciated. Thank you.

Im of the opinion that the market is more than any single individual. It may seem like Elon musk is manipulating the market and enforcing his will, but the market is going to surprise everyone. The next wave of bull run is certainly going to be higher than what we have presently and several manipulators would be disappointed.

slashz9

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Quote from: Abiky on May 21, 2021, 01:33:21 PM

What are your thoughts? Do you think Elon Musk is manipulating the crypto market? If not, why? Will crypto carry on as usual without Mr. Musk in play? Or is it too late? Your input will be greatly appreciated. Thank you.

He is manipulating, people will manipulate on something they can cast their influence and Elon Musk is a man with a huge influence in the investment industry who can cast influence when it comes to investment and technology, he first tried it on Dogecoin and he succeeded and now that he and we all know that he can do it, he will do it again, it's up to people to realize this scenario.

it may or may not be true, I think some people are taking advantage of this situation to follow Elon's words to cause an exaggerated reaction than usual, like if Elon says good news then they make it look like it happened and vice versa
I'm not sure 1 person can control the whole market completely.

Smitty Werben Man Jensen

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I don't know for sure it's true or not, the most important thing is that we don't follow the fomo too deeply,
because it's not good for traders, yes FOMO and FUD are very easy in the crypto world,
especially an influencer who has a lot of followers! the most important thing is ourselves can control it

john1010

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Last weekend in his appearance on "Saturday Night Live," musk dismissed doge as ‘a hustle.’ But last night he offered it some support, suggesting it would ‘improve system transaction efficiency.’ Dogecoin gained 25% in minutes!

viananda2525

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Quote from: nikki4 on June 04, 2021, 05:08:06 PM

Elon Musk is a famous person as a billionaire. His tweets must be careful about the financial sector. But here he is manipulating the market, everyone blaming him for the last market crash. To earn his profit, Elon Musk mentioned the energy consumption problem of Bitcoin and disagreed to accept Bitcoin.

Would Elon Musk like to leave Tesla for the energy consumption problem?

he willl not do this , elon musk only trying to fud in markeet with his power. since tweet wat with several crypto influencer in twitter, elon want to show us that he could manipulate market. but unfortunately we as crypto investors forget how we could surive in 2017 when many fud from china coming, and now with single tweet from elon we panic. if we can do this again, i think elon will be shit .

DarkDays

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Quote from: Jaered on June 04, 2021, 04:12:50 PM

Hell to the yeah, he sure as hell is manipulating the market. Just look at his Dogecoin and Bitcoin tweets. They always put each of these coins in the spotlight. Example, look at yesterday's Bitcoin tweet with a broken heart. Bitcoin took a dive after that

Yup, Elon is a business man and he does use the power he somewhat has over the crypto market. Is like seeing a tweet and a few seconds later see how everybody overreacts to it all.

Personally, I find it ridiculous that this is happening and that the space is filled with people who are so reactive but this is why the man keeps on playing with the market - it works and why not capitalise on it!

nikki4

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Elon Musk is a famous person as a billionaire. His tweets must be careful about the financial sector. But here he is manipulating the market, everyone blaming him for the last market crash. To earn his profit, Elon Musk mentioned the energy consumption problem of Bitcoin and disagreed to accept Bitcoin.

Would Elon Musk like to leave Tesla for the energy consumption problem?

ILuckyGuyI

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Of course, he is manipulating the market. Even his single word is enough to change the balances in the market. One of his recent tweet is a good example for it. People are really tired of his behavior.

kawetsriyanto

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Quote from: FaucetKING on June 04, 2021, 11:18:39 AM

It's not our right to blame him because other people are following his ideas.

Why not? It is not only about people following him, he tweeted something bad about Bitcoin and crypto as a whole. Do you think it is acceptable?
Man, if he isn't trying to manipulate or exploit the crypto market, it is no problem at all. But what he did is too much, all of us know he has the intention to take advantage by tweeting both positive & negative about Bitcoin-crypto. For me, it isn't acceptable! He is likely playing with us and leads us to a current bad situation in crypto market.

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