Post
Topic
Board Economics
Merits 1 from 1 user
Re: Elon Musk really has the ability to manipulate the bitcoin market
by
paxmao
on 19/05/2021, 22:33:15 UTC
⭐ Merited by nikrobi (1)
Haha, just like I said in the previous post, Elon Musk really has the ability to manipulate the bitcoin market, just follow him at least for the moment. But this wouldn't last long; they started to hate him.
He indeed moved the market into pieces with his tweets but I don't think a common man can actually benefit from this because I have a strong feeling that Elon is the real benefactor of all this because he knows when he is going to make a tweet people will go crazy and berserk on the market based on what he wants and hence he can easily place sell and buy orders accordingly.

The best thing one should always do is follow market news but don't get carried away with it. I mean it's a good thing to follow Musk but don't sell your BTC cheap just because he makes a tweet in disfavor of BTC. You need to understand that he is one of the richest guys and he surely is here to make money. Don't think of him as a god and follow him blindly.

The more he manipulates the lower his power over the masses will be. It happened to McAfee, who at first was someone worth believing... more or less... and then became just another twitter that got paid for promoting projects, and I must say handsomely. At the end, karma caught with him and the prison sentences he got were anything but light. I think Elon is pretty much on the divide of getting his own legal nightmare served in a silver tray.