Who says Tesla initiated last bull run is wrong

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Quote from: Oshosondy on February 05, 2024, 07:31:12 AM

Tesla initiated the last Bitcoin bull run? Rubbish.

I saw this on Twitter yesterday. You can see it yourself: https://twitter.com/rovercrc/status/1754146791576985665?t=oYWn43cKg08NR--EAR3gDg&s=09

I have no idea who that guy is but I wouldn't give him any visibility because tweets like that are clearly meant to simply create a debate in order to get more interactions and thus more exposure, no matter whether it's good or bad. We really need to get rid of this stupid idea that cryptos, or bitcoin at least, have anything to do with Elon Musk or Tesla, we are way bigger than all that. We don't need them.

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Well, there may be a possibility that if Tesla is one of the whales or one of the companies that holds up a huge amount of bitcoin, their movement can affect the market's movement also, but of course there is no concrete proof that they are the ones that cause the bull run, and even identifying which or what aspect affects the bull run, we can't do that or kmow that because that is the complexity of bitcoin. Even I don't know how or what factors will trigger the bull run, because if we kmow, we would abuse it. Of course, the thing we only know is that there is a certain period of time where we can anticipate the next bull run. The next question is: what if the bull run does not come at the anticipated time? What will happen to its investors? Will they be upset, or will that be the start of the downfall of bitcoin? We never know until it happens.

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Well, it's about on how they see the influence of the company and Elon himself. So if Tesla is still holding a lot of Bitcoins and that makes someone have his confidence over holding Bitcoin then we can't blame him for doing that. If that's the capacity of his research and don't understand the common things about Bitcoin like the halving that has happened and impact that it has brought to the market, that person needs to do his/her own research before having a conclusion on whoever started the bull run. Maybe initiated it in a manner that have attracted retail investors and have seen the impact of what they do but that's just it. And in the long run, it's the actual effect of the halving and usual supply and demand.

umbara ardian

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You reckon Elon Musk and Tesla single-handedly launched Bitcoin to the moon last year? Nah, that's a bit like blaming the squirrel for the whole darn forest fire. Sure, they threw some gasoline on the flames with their big Bitcoin buy-in and all that Twitter hype, but there was a whole lot more going on. Big institutions were dipping their toes in the Bitcoin pool, folks were flush with cash thanks to the government printing money like crazy, and everyone and their grandma was suddenly a crypto expert. It was a perfect storm of factors, and Tesla was just one ingredient in the mix.

Tesla and Musk were definitely party starters. Their big Bitcoin buy and all the hype around it definitely got people excited. But then, things got messy. Tesla stopped accepting Bitcoin, China cracked down on crypto, and the party atmosphere kinda fizzled out. The real lesson here? Don't get caught up in the hype, whether it's a celebrity tweet or the latest hot investment. Do your own research, understand the risks, and remember, even the wildest parties eventually come to an end.

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Quote from: kentrolla on February 05, 2024, 12:30:28 PM

I believe Tesla just played a very manipulative role as they didn't solely initiated last bull run but they cashed in at the right moment and made people believe that they would accept Bitcoin as payment which created FOMO and they cashed out at the right moment and tried burying Bitcoin. We cannot believe anything Elon Musk states as we already witness the state of Doge which was once considered to break $1. Big businesses just look for benefits and take advantage of situations.

They are just playing manipulative role their since we see them trying to hype up but at the end they will end up trying to create something that can make people panic. That's why I don't believe on those people that Tesla play a huge role for that pump happened before. If they are out on the scene for sure we can still see bitcoin to rise since there is more legit institution that supports bitcoin and will not do what Elon Musk do.

He transfer on Doge because he know he can easily manipulate people there and he will don't need to spend a lot more since Doge market is quiet easy for him to manipulate. And look what happen now he abandon or stop hyping those coins because he's done milking it and for sure in future he might announce a new coin to support again.

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I think that, with Bitcoin, bull runs and bear markets just happen, they don't need anyone or anything to happen. But some events can give a little push in this or that direction. The news about Tesla investing $1.5 billion into Bitcoin date back to February 7-8, 2021. There's a clear sharp spike on February 8-9, when the price went from $38,833 to $46,300 in a matter of a day. That spike, I believe, can be directly attributed to the Tesla news. So Tesla didn't initiate a bull run, but it gave it a push forward, just like it gave a push in the opposite direction when Musk announced backing away from Bitcoin.

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With tesla or not, Bitcoin will always react when the timing is right, halving season and the four year cycle of Bitcoin is all that matters, every other jagons are just a plus, probably for people that believe in them, but not me, hype is real in crypto space but Bitcoin movement is all crystal clear in the charts.

Another thing that contributes here at least is excess money printing and Fed cut rate, but it all still goes along very well with the cycle movement of Bitcoin like perfect time, just like the upcoming US election but all these things are just a plus for me, I don't know about anyone else.

I remember that Tesla CEO pumped Doge so much, I believe that was his focus at the time, so we can say that him talking about Doge makes the coin to come back alive even stronger, I was one of those who use to believe that Doge coin will remain one of the cheapest old crypto coins but I was wrong, and that's Doge coin, not Bitcoin.

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Quote from: btc78 on February 05, 2024, 11:56:43 AM

Since associated with Elon Musk, people probably thinks that anything Elon Musk advertises must have good value hence why i am sure the moment Tesla accepted bitcoin more people got interested and trusted bitcoin

While i agree that tesla had some impact on bitcoin’s price it is far away from being the driving factor of the bull run people who say that it was what initiated bull run are delusional especially knowing that the previous halving happened during that time

At that time, Musk wisely took advantage of the situation and caught this wave of hype, and at that moment he became “one of the people” for the community, simultaneously advertising Tesla and all his other projects received a huge portion of advertising and recognition. Many users wanted to see another crypto enthusiast in their idol, but it turned out as usually, the media often wrote news and often made up tall tales, several years have passed and where is Musk now? He’s still busy with his projects and he doesn’t care about crypto.

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I definitely think that the last bull run was not started by Tesla and Tesla didn't contribute to a serious acceleration in the bull run. The reason for this is that, although there isn't a very high transaction volume in the cryptocurrency markets compared to other financial markets, no single company can have an impact on new money inflows to the cryptocurrency markets. Yes, perhaps Elon Musk has the opportunity to create a movement in the markets due to his manipulation power as well as being the largest shareholder of a company like Tesla but still the power of a company owned by Elon Musk alone will not be enough to start a bull period.

On the other hand, if we consider the previous bull markets, we shouldn't forget the fact that we have always seen very serious bull runs with the inflow of money into the cryptocurrency markets, this money flow is achieved with a big scenario and companies can only help this movement to occur more rapidly. In other words, a small acceleration may have been created by Tesla during the bull period but it wouldn't be correct to claim that the last bull period was started by Tesla.

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I remeber that Time very clearly and they didn’t initiate the bull market because it was already rallying however when word got out that they bought $1.5B it started a huge pump. Bascially people were copying what Elon was doing and were borrowing money to buy bitcoin and doge coin.

And when he had the SNL it marked the top of Doge. Because he didn’t pump it as people expected and when he removed the option of using bitcoin to buy teslas because it used non renewable energy the price started to decline. Then when he started to sell it got worse.

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Quote from: Oshosondy on February 05, 2024, 07:31:12 AM

I saw this on Twitter yesterday. You can see it yourself: https://twitter.com/rovercrc/status/1754146791576985665?t=oYWn43cKg08NR--EAR3gDg&s=09

These crypto youtuber twitter medium influencers always talking out of their own ass, but unfortunately newbies trust them because they see large following and maybe some displays of wealth and think that a person is a financial guru. This guy is also likely an Elon Musk fanboy which makes his opinion even less valuable, especially an opinion involving Tesla.

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I can't agree more with you because a bull run is not triggered by only one or two factors, back then as you already mentioned, the bull run started due to halving, and institutional adoptions, but Tesla's involvement was also a good factor because they invested a whopping amount of $1.5 billion dollars in BTC. And that news really triggered the price and we all know some factors take some time to impact the market. Just like now, ETFs do not have an instant positive impact on the BTC price, but when BTC crosses $80 or maybe reaches $100k people will still say ETF's adoption was the main factor that initiated the bull run.

While that's not true, the real player/reason is halving, if halving is not there then I don't think we would see a bull run after equal intervals of time, it might become hard for us to judge the market in the short and long term as well. Things might become hard but I can say Tesla initiated the last bull run but if I say only Tesla initiated the last bull run that would be wrong. What do you think?

PS: I never said in past that Tesla initiated Bull run.

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the bull run starts itself from the year to halving and ends at the ATH
its the market cycle

as for temporary events.. such as speculative FOMO and FUD
the elon drama was in early 2021 not 2020.. and initiated by media announcing the SEC filing. rather than elon first

drama of the start of 2020 was covid

avikz

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Elon didn't caused the Bull run, rather he contributed to it. Given the nature of the Bitcoin market, it is almost impossible for a single company or a person to manipulate the price to a great extent. The Bull run was a cumulative effort of many people or organisations. There was also a great amount of positivity around the market due to halving as well.

Also if I am not wrong, Elon wanted to promote Doge over Bitcoin and he was succeeded to a great extent. Elon himself made millions using the influence of his Twitter account.

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Quote from: btc78 on February 05, 2024, 11:56:43 AM

Since associated with Elon Musk, people probably thinks that anything Elon Musk advertises must have good value hence why i am sure the moment Tesla accepted bitcoin more people got interested and trusted bitcoin

While i agree that tesla had some impact on bitcoin’s price it is far away from being the driving factor of the bull run people who say that it was what initiated bull run are delusional especially knowing that the previous halving happened during that time

Yes you got the point all they did was they played very smart and they knew that post halving there would be bull run and they just leveraged that advantage and played manipulative games like initially stating they will accept Bitcoin as payment, later making an U turn and whatever Elon Musk has done with crypto is a big gamble wherein a group of people gained immense wealth wherein others lost it. But at the end Elon Musk gained as he bough at less and made headlines when the prices soared he dumped it and dissociated himself.

kentrolla

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I believe Tesla just played a very manipulative role as they didn't solely initiated last bull run but they cashed in at the right moment and made people believe that they would accept Bitcoin as payment which created FOMO and they cashed out at the right moment and tried burying Bitcoin. We cannot believe anything Elon Musk states as we already witness the state of Doge which was once considered to break $1. Big businesses just look for benefits and take advantage of situations.

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Quote from: Oshosondy on February 05, 2024, 07:31:12 AM

Edited out

Ops one significant event in Bitcoin history should be El Salvador's Bitcoin adoption a and I expected that to appear as one of the significant events that affected the price of Bitcoin at one point or the other.

Secondly, we should know that, both Tesla Elin Musk and what have you have no role in the Bitcoin market and pricing at some point, although there may be short-term Bitcoin market forces and cause of volatility but then afterwards, bitcoin will always correct back to its previous price, and possiblyall-timee high.

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Quote from: Oshosondy on February 05, 2024, 11:40:13 AM

Quote from: franky1 on February 05, 2024, 11:01:50 AM

firstly your rest of post talked about 2020.. the elon drama was 2021

No, I talked about 2020 and 2021. I am not saying that Tesla did not contribute, but did not started the bull run.

Quote from: franky1 on February 05, 2024, 11:01:50 AM

first part of 2020 was the "covid blues" where there was no FOMO hype, and instead reasonable low for that first part of 2020 leading to the halving

now to get to the point

elon didnt scream bitcoin drama in february 2021.. it was news media that did

tesla had to file SEC docs about its purchase of bitcoin in december 2020
news media read it and announced in february 2021 to the masses which sparked the drama.. so media sparked the speculative drama in february 2021 based on a SEC filing about a december 2020 purchase.

Bitcoin all-time-high since 2017 was in November 2020. It got to $29300 in December 2020. It got to $41950 in January 2021 before it fall and Tesla drama began.

What I said is that Tesla did not started the bull run, it is very wrong that Tesla started it. Can we say the media helped? I will say they also contributes but not in relation to Tesla that started the bull run. The bull run started in 2020.

For me I would sum up and say whale movements and speculation on the media, did more to affect the price of Bitcoin at the time or started the bull run and of which, Tesla was one one the whale investors with a better share of crypto currency investment well worth over millions of dollars in value.
I learnt then of how Elon Musk stopped accepting BTC as payments for Tesla electric cars then and it was after liquidation of a huge chunk of crypto asset, if not all, that BTC gained much attention and investment still.

Although it was a manipulative show by Elon who would then advertise Doge coin as his new found interest, he sure put a lot of spot light on cryptocurrency and dominated the media space and news channels until he acquired Twitter among other businesses and investment that caused the media stir.

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Since associated with Elon Musk, people probably thinks that anything Elon Musk advertises must have good value hence why i am sure the moment Tesla accepted bitcoin more people got interested and trusted bitcoin

While i agree that tesla had some impact on bitcoin’s price it is far away from being the driving factor of the bull run people who say that it was what initiated bull run are delusional especially knowing that the previous halving happened during that time

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Quote from: Oshosondy on February 05, 2024, 11:40:13 AM

Quote from: franky1 on February 05, 2024, 11:01:50 AM

firstly your rest of post talked about 2020.. the elon drama was 2021

No, I talked about 2020 and 2021. I am not saying that Tesla did not contribute, but did not started the bull run.

Quote from: franky1 on February 05, 2024, 11:01:50 AM

first part of 2020 was the "covid blues" where there was no FOMO hype, and instead reasonable low for that first part of 2020 leading to the halving

now to get to the point

elon didnt scream bitcoin drama in february 2021.. it was news media that did

tesla had to file SEC docs about its purchase of bitcoin in december 2020
news media read it and announced in february 2021 to the masses which sparked the drama.. so media sparked the speculative drama in february 2021 based on a SEC filing about a december 2020 purchase.

Bitcoin all-time-high since 2017 was in November 2020. It got to $29300 in December 2020. It got to $41950 in January 2021 before it fall and Tesla drama began.

What I said is that Tesla did not started the bull run, it is very wrong that Tesla started it. Can we say the media helped? I will say they also contributes but not in relation to Tesla that started the bull run. The bull run started in 2020.

I think he contributed to the bull market because of the coverage that Elon does especially in the SNL. I think the media can manipulate just whichever they want the market to go. It's always about informing the public what is going on. If the media does not mention Bitcoin on TV or in the news, the public will not make a big fuzz to check into it.

If the media announced it on TV Blackrock and SEC already have approved spot BTC ETF and explain the significance of it, it would make a piece of news but so far nothing has been said about that news on mass media. But they made it mixed with the fake announcement.

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