Post
Topic
Board Bitcoin Discussion
Re: Elon Musk adds #Bitcoin to his Twitter bio
by
maculeth
on 30/01/2021, 12:30:19 UTC
Just because someone places hashtag on his twitter account doesn't make people go and buy bitcoin.
Similarly just because people search about bitcoin on google that doesn't mean they also buy bitcoin just because they googled the word "bitcoin" (that's not even "where/how to buy bitcoin").

Not to mention that people who react to social media like this are not the majority and the amount of money they have is not going to change anything about the price  when you look at the bigger picture. That was about $50 million so far in only 2 exchanges (Coinbase and Bitstamp) in past hour. Idiots on social media who panic buy based on some tweet don't have that much money combined.

This price rise is simply the whales running out of bitcoin to dump, now the existing demand is showing itself. Soon we may see the same panic sellers who shit their pants when price went down to panic buy again not because of some tweet but because they are "panic traders".
true, but at least if the person writing is a well-known public figure and indeed from an investment perspective, bitcoin is profitable, at least there will be many who do a review. I think this is good and positive for the crypto market.