Post
Topic
Board Bitcoin Discussion
Re: Making investmets based on Elon Musk Tweets
by
uneng
on 26/05/2021, 20:21:44 UTC
Elon Musk has some influence in bitcoin price, but it is limited as we can see. Maybe he thought he could *kill* bitcoin if he wishes and resurrect it later when he wants, but in fact he was just able to drop the market in part with his FUD, which was followed by a deeper correction due to speculators cashing out, following the trend, as it's normal always the price starts falling due to an exceptional event.

Also, every newbie who comes along because of Elon has a chance to evolve into a lifelong holder. In the short term, it can be annoying but in the long term, it'll strengthen bitcoin.
I agree with you. Moreover, I think on long run people will get tired of his tweets, jokes and with so many unstable opinions changing every few days he is probably going to lose influence in crypto market. As investors become more mature and experienced they need less influencers' opinions each new day.