He is manipulating, people will manipulate on something they can cast their influence and Elon Musk is a man with a huge influence in the investment industry who can cast influence when it comes to investment and technology, he first tried it on Dogecoin and he succeeded and now that he and we all know that he can do it, he will do it again, it's up to people to realize this scenario.
People are foolish enough to follow a single man to make their investment decisions on crypto, when the whole space has always been about being decentralized and free from the middleman. Elon Musk must have made a lot of money with his recent tactics. Bitcoin went down for a short period of time after his criticism, while Dogecoin went all the way to the moon. It's up to this date, where Bitcoin is struggling to get past the $40k range, while Dogecoin hasn't "moved an inch". Who knows if Elon Musk continues to manipulate the market in the long run for his own financial benefit?
If this keeps up, DOGE might go to $1, while Bitcoin may be headed to a price below $20k. Imagine what would be of the crypto market if Elon Musk quits. There will be a massive "bloodbath" in price that would leave current investors disappointed! The market will surely recover albeit at a slow and steady pace. What matters is not the price per coin, but rather its usefulness. As long as an specific cryptocurrency is useful, nothing else matters. Just my thoughts
