Topic: Making investmets based on Elon Musk Tweets (Read 406 times)
Theres a lot of my friends who buying bitcoin and doge because of elon musk, when elon tweet something about crypto they straight go into the market and buy that coin (doge). But right now the tweet from elon musk isn't affected the market like previously, i think most people already realize elon just trolling us.
Those who just make investments through Elon Musk tweets has no knowledge about bitcoin and has no strong foundation that's why when the market suddenly dropped they are the one who panic selling and back out in bitcoin. Elon Musk is a great influencer but much better if that time that you are influenced by him , you also start searching and learning about bitcoin or cryptocurrency to gain more knowledge and not just rely on Elon Musk word. Bad news and good news are both have a huge effect in crypto market and the ups and down on the value of coins are normal and it was what trader wants in order to earn huge profit, but for the holders, you still need patience until market recover again.
I am not someone who is good enough in selecting coins or tokens or even analyzing the graphic for trading. but, I am really not interested in what Elon musk tweets. I know that many people are influence by his tweets and the market is also influenced because of what news that he spreads. And I really hate this.
Unfortunately, many public figures and also newcomers are also following him, and this makes the crypto market runs much more volatile.
Unfortunately, many public figures and also newcomers are also following him, and this makes the crypto market runs much more volatile.
No need to make an investment in crypto-based on Elon Musk's tweets. Only newcomers who do that and invest based on hype and FOMO.
Once you get the price drops, you will blame yourself, you will blame Elon, and you will blame the crypto world because losing money so much easier. Additionally, those who only follow what Elon tweets will only think and care about the profits. they will not think about being ready for the risks. This is irony because today, many people are also doing like this.
It probably for the newbies to get a slip to it as they usually following big names, and Elon Musk is one of those. These newcomers had no-how in the market happenings and it was easy for them to just rely on someone who has been crypto market already. While seeing known personalities tweeting, do social media promotion is got their intention and most likely, it will take injected into their mind. Once you get the price drops, you will blame yourself, you will blame Elon, and you will blame the crypto world because losing money so much easier. Additionally, those who only follow what Elon tweets will only think and care about the profits. they will not think about being ready for the risks. This is irony because today, many people are also doing like this.
And these market manipulators taking the advantage of it while these innocent and fresh minds just learning.
The best thing we can do is to adapt to Bitcoin's volatility and manipulable structure. Maybe we definitely don't like Elon Musk's manipulations. But we also know that we have nothing to do to be able to prevent it for good. So, if we learn to benefit from it as good as possible, it will be much better for us.
We can't do nothing about Elon Musk as we can't stop the dump and pump market of this crypto world. So there's no choice but we should learn to live all of these. The high volatility of crypto will always stay so we should always be ready on how to react into market's condition positively.And if by chance newbies will only depend their investment based on Elon's tweets, it will definitely make their investments hype but remember things like this are just temporary. It's like Mc Afee who's presence is no longer in demand right now and might be forgotten as well. So invest based on the good fundamentals of the coins and your own good analysis and not just the hypes made by selfish celebrities.
The best thing we can do is to adapt to Bitcoin's volatility and manipulable structure. Maybe we definitely don't like Elon Musk's manipulations. But we also know that we have nothing to do to be able to prevent it for good. So, if we learn to benefit from it as good as possible, it will be much better for us.
Investing on the basis of someone's statements is not a very good thing. More precisely, rather stupid in my humble opinion.
Very bad decision if someone has to relay on his tweets. Sadly, I've seen people who are saying that they've bought because of Elon's tweet.Especially when it comes to such a cunning as Elon Musk, then the case is not good at all! In two months this guy changed his "opinion" by 180 degrees, so this is a completely fickle unit and there is no trust in him after that.
And he's likely to keep on changing his words from time to time until he has made a lot of money and tweets that he just took advantage of everyone. If he do that, it's really disheartening for those people who believed him. 
No need to make an investment in crypto-based on Elon Musk's tweets. Only newcomers who do that and invest based on hype and FOMO.
Once you get the price drops, you will blame yourself, you will blame Elon, and you will blame the crypto world because losing money so much easier. Additionally, those who only follow what Elon tweets will only think and care about the profits. they will not think about being ready for the risks. This is irony because today, many people are also doing like this.
Once you get the price drops, you will blame yourself, you will blame Elon, and you will blame the crypto world because losing money so much easier. Additionally, those who only follow what Elon tweets will only think and care about the profits. they will not think about being ready for the risks. This is irony because today, many people are also doing like this.
Investing on the basis of someone's statements is not a very good thing. More precisely, rather stupid in my humble opinion. Especially when it comes to such a cunning as Elon Musk, then the case is not good at all! In two months this guy changed his "opinion" by 180 degrees, so this is a completely fickle unit and there is no trust in him after that.
You have to be there before the tweet happens though since by the time the tweet was published, I think that it is already too late. Also, it will be difficult but really profitable if you were ever to buy one coin that he was supposedly supported.
That's right because anytime he could reverse what he said and those who invested late most likely suffer if they are not fast enough to sold their coins whenever he take back his positive statement again. A risky thing to do but those are the things you need to consider if you ever want to invest base on that man's tweet.
It should be a long-term purpose of investment, if you are always looking at the market price every minute, that is just wasting your time.
Elon Musk here are most people ignored, because of the fact that he was manipulating the market and gain his own interest just because of his power.
Actually most of the investors and traders following some idols but sometimes idols make some valueless activities. A few days ago elon musk declared , his car tesla company suspended bitcoin but before tweeted this he again declared, his all assets should be invested in Bitcoin. What's a wonderful uneven tweet about cryptocurrencies!!!
We're not actually trying to support Elon Musk instead we are trying to outsmart him in the game he is playing. If we would just keep on complaining and hating him, it would eventually fire back to us as we do not commit anything that can make our investments better. Everyone should learn how to defeat an enemy through his own weapons. Find a hole in every situation or find a pot of gold in every end of a rainbow because no matter how bad the market appears today, there is more to it that will surely benefit us all if we will be strategic and faithful with our investments.
Yup, you’re right. A good investor will always try to get on anything and turn it to his own favor. There really is no need to be complaining about the market, because complaining from morning to night is not going to bring any solutions at all, rather you’re just going to be there and complaining until you’re tired and have achieved nothing.
Instead of complaining you can just start looking for opportunities that you’re going to use to turn everything to be better for you. The problem with a lot of investors here that I have noticed is that they act like the price can never go down. They are forgetting that in investments, there’s always a risk, the profit doesn’t come all the time.
Instead of complaining you can just start looking for opportunities that you’re going to use to turn everything to be better for you. The problem with a lot of investors here that I have noticed is that they act like the price can never go down. They are forgetting that in investments, there’s always a risk, the profit doesn’t come all the time.
You have to be there before the tweet happens though since by the time the tweet was published, I think that it is already too late. Also, it will be difficult but really profitable if you were ever to buy one coin that he was supposedly supported.
That's right because anytime he could reverse what he said and those who invested late most likely suffer if they are not fast enough to sold their coins whenever he take back his positive statement again. A risky thing to do but those are the things you need to consider if you ever want to invest base on that man's tweet.
The big question with elon musk participation in crypto is if the users he's driving to crypto would be here for the long term or if they are just here for the short term gain and insane pumps and nothing more than that?
Well, the OP just said that this newbie investors might turn into or evolve into a long term holder. Of course almost everyone who jumped into the Elon Musk hype are looking to a short term gain at first, but as time passes by they'll eventually learn.
Especially now that Elon was showing inconsistency with his statements about Bitcoin. A wise investor will always catch up what Elon was trying to do with cryptocurrency market, and lastly a wise investor knows when to sell and hold, and it's safe to say that there are always wise investors in a group of new comers.
Anything without using your DYOR but relying only on beautifully embroidered pictures will become a double-edged sword. What Doge has been through, even it is the focus against itself. Elon is clearly a charismatic person in the community, and he is also just an influential person in this space, including the stock market before that. But believe in yourself!
Unpopular take but this is inevitable as bitcoin grows. Say the ultimate theory of hyperbitcoinization comes to pass in 20 years or something. Do you think everyone owning bitcoin is anarchist intellectual fighting the good fight? No... Bitcoin is going to be like water to the fish that swim in it, and 99% of the people won't care about it beyond that.
People buying bitcoin due to Elon's tweets will come and go and cause volatility, but it's an inevitable step in the larger journey of this technology. Gatekeeping will only cause your own blood pressure to go up, so I'd just make sure I got my keys in a safe place, buy the dips that result from these sudden adoptions and go with the flow.
Also, every newbie who comes along because of Elon has a chance to evolve into a lifelong holder. In the short term, it can be annoying but in the long term, it'll strengthen bitcoin.
What are your thoughts?
People buying bitcoin due to Elon's tweets will come and go and cause volatility, but it's an inevitable step in the larger journey of this technology. Gatekeeping will only cause your own blood pressure to go up, so I'd just make sure I got my keys in a safe place, buy the dips that result from these sudden adoptions and go with the flow.
Also, every newbie who comes along because of Elon has a chance to evolve into a lifelong holder. In the short term, it can be annoying but in the long term, it'll strengthen bitcoin.
What are your thoughts?
I don't understand what exactly are you trying to say here.
People buying/selling Bitcoins based on Elon Musk's tweets have NOTHING TO DO WITH THE TECHNOLOGY BEHIND BITCOIN.Buying and selling BTC doesn't change the Bitcoin blockchain,it can only increase the number of transactions and increase the transaction fees and confirmation time.This doesn't change anything about how the BTC blockchain works.
Nobody is "gatekeeping" Bitcoin.Everyone is free to buy as mush BTC as he/she wants.
Newcomers are welcome to the crypto community.I don't see any gatekeepers around.
i thought it would be a bad and incorect decision. indeed we can't stop him from making a tweet at least we are not swayed by what is said, because it will make him addicted and the profits he gets continue to flow
If you know how the market will move base on his Tweets then you will probably make a good prediction of what's going to happen after. Remember that the market moves where there is demand and Elon's tweet can make those demands, so it isn't that bad of a decision.
If you invest in something just because you are influenced by a rich and famous person then that is just basically gambling. Bitcoin is very volatile, if someone invest their millions to it without knowing anything about it then he could instantly lose a lot of money. We all know that market will always recover when bear season happens and holding bitcoin for the long term is definitely a good investment but what if some people thought that it is a quick-rich scheme because of the increase this year that they invest most of their money to it then suddenly bear season happens and they need money for emergency, these people will be forced to sell their bitcoin at loss. The equivalent value to fiat they will get will only be half or even less than what they invested.
If you bought bitcoin due to Elon's tweets, you could lose your money, but as long as you can minimize the risk, maybe you can make a profit.
It is better to buy bitcoin because of your analysis and not because of other people because they can only suggest you without telling the truth.
But that can happen to new people who lack information about bitcoin and only follow without researching bitcoin.
That can be dangerous for them as they do not know much about bitcoin and can lose money.
I hope people can learn more about analysis to not depend on other people's suggestions.
It is better to buy bitcoin because of your analysis and not because of other people because they can only suggest you without telling the truth.
But that can happen to new people who lack information about bitcoin and only follow without researching bitcoin.
That can be dangerous for them as they do not know much about bitcoin and can lose money.
I hope people can learn more about analysis to not depend on other people's suggestions.
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