Post
Topic
Board Speculation
Re: Love Elon for Tesla and space exploration but forget about him about bitcoin
by
TheGreatPython
on 19/05/2021, 17:05:42 UTC
But in terms of real effect on the bitcoin price forget him.  there was a spike a few years back where we went from less than $1,000 to about $17,000 and then it came down and settled about $8000 before moving up fast again recently. Elon had no hand in that up and down. it was the old friends (enemies?) of manipulation, FOMO (greed) and then exhaustion. I think we are going way down now to $30,000 at least just on the downhill pattern we have when huge spikes occur.
In my opinion, big whales have used Elon's tweet as a weapon and are shorting the market to create chaos. I don't think they even sold 50 cars by now through bitcoins so why would an announcement bring such a drastic change in the market. Whales needed a reason and timing to start shorting and that tweet gave them the reason and timing while all the heat is being faced by Elon.

I've never been a fan neither I have ever seen him as a negative personality because I just consider him someone who works hard is achieving his goals. His involvement in the crypto is weird because he is shilling for dogecoins which are also mined and waste energy but he doesn't like bitcoins for energy wastage, does it even make sense? At least not to me.