Post
Topic
Board Economics
Re: Elon Musk really has the ability to manipulate the bitcoin market
by
wxa7115
on 24/05/2021, 19:13:08 UTC
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.
At least if you go short, you also have some money. In this market, the more you panic, the more you lose money.
https://medium.com/snapbots-news/snapbots-news-review-elon-musk-suggests-teslas-sale-of-bitcoin-market-drop-again-cb7078dc8f00
This is not going to last long, Elon Musk is having fun with us and manipulating the market as he wants there is no way to deny this, but once weak hands are shaken out of the market and only people like us remains then no matter what he does he will find huge resistance to whatever he does.

If he says something negative about bitcoin the price will hardly move and if he actually sells his coins then there is going to be enough demand to buy it while at the same time he losses influence on the market as the size of his stash diminishes, all in all despite the crash and the money people lost bitcoin will once again show its strength and how it is impossible for a single person or entity to be above it and take control of it.