Every time Elon Musk talks positively about Dogecoin on Twitter, price per coin goes all the way to the moon. The contrary happens if he talks negatively about it. Most recently, Elon Musk criticized Bitcoin's high energy consumption stating that it's harmful to the environment. This caused Bitcoin's price to plunge all the way to $42k in an instant. It's up to this point, where Bitcoin hasn't recovered back to the $57k - $58k range.
It looks like people make decisions based on someone else's opinion instead of doing their own research about it. Most people follow Elon Musk closely, so anything he says (good or bad) can directly affect the whole crypto market in general. I believe Elon Musk's true intentions is to manipulate the market for his own financial benefit. Who knows if he bought more Bitcoin after prices went down because of his tweet?
What are your thoughts? Do you think Elon Musk is manipulating the crypto market? If not, why? Will crypto carry on as usual without Mr. Musk in play? Or is it too late? Your input will be greatly appreciated. Thank you.
It looks like people make decisions based on someone else's opinion instead of doing their own research about it. Most people follow Elon Musk closely, so anything he says (good or bad) can directly affect the whole crypto market in general. I believe Elon Musk's true intentions is to manipulate the market for his own financial benefit. Who knows if he bought more Bitcoin after prices went down because of his tweet?
What are your thoughts? Do you think Elon Musk is manipulating the crypto market? If not, why? Will crypto carry on as usual without Mr. Musk in play? Or is it too late? Your input will be greatly appreciated. Thank you.
Would you believe that Elon Musk has an important role in the crypto world, the extent of his current level of influence, so that every tweet becomes a hot topic of conversation in the crypto world, some even say the price of bitcoin is getting more volatile after he spoke on twitter.
I'm not really sure that bitcoin volatility has an important role for him, yesterday it was true that the price of Dogecoin had gone up, but only lasted a few days, meaning if it is true that he played a big role in the process of rising Dogecoin's price, why did it last so short?
I'm not trying to get into the analysis that Elon Musk is just taking advantage of the situation or manipulating the crypto market for his personal gain, because it's not my domain to interfere, but I'm more interested in discussing the extent of his role in driving up and down Dogecoin prices. very fast.