Testing Bitcoin: The Elon Power

[TomPluz]

Just recently, Elon Musk drop a big bomb to the Bitcoin community by announcing that Tesla is going to stop accepting BTC as payment for their cars but will be keeping the Bitcoin they stashed for some reasons known to them. And now, we have the suggestion that eventually Tesla will be selling BTC at the appropriate time.

In other words, Elon has now decided to make a big U-turn with his support for Bitcoin and is gonna instead concentrate on developing Dogecoin as his pet cryptocurrency.

This is certainly a big but not really critical test for Bitcoin on how the market can be reacting to this barrage of "bad news" coming from a man who has influenced a lot of the recent rise of BTC.

Now that we can really say that officially Mr. Elon Musk is gone from Bitcoin scene, should we look for another man as a big supporter for Bitcoin or is this idea of associating with specific personalities a bad move for Bitcoin?

[Ferki]

Just recently, Elon Musk drop a big bomb to the Bitcoin community by announcing that Tesla is going to stop accepting BTC as payment for their cars but will be keeping the Bitcoin they stashed for some reasons known to them. And now, we have the suggestion that eventually Tesla will be selling BTC at the appropriate time.

In other words, Elon has now decided to make a big U-turn with his support for Bitcoin and is gonna instead concentrate on developing Dogecoin as his pet cryptocurrency.

This is certainly a big but not really critical test for Bitcoin on how the market can be reacting to this barrage of "bad news" coming from a man who has influenced a lot of the recent rise of BTC.

Now that we can really say that officially Mr. Elon Musk is gone from Bitcoin scene, should we look for another man as a big supporter for Bitcoin or is this idea of associating with specific personalities a bad move for Bitcoin?

If you really need someone as a crypto idol, someone who really supports Bitcoin, then I suggest Michael Saylor
But I don't mean the whole thing seriously, everyone has to see for themselves how they handle crypto.

[nicecrypto]

Now that we can really say that officially Mr. Elon Musk is gone from Bitcoin scene, should we look for another man as a big supporter for Bitcoin or is this idea of associating with specific personalities a bad move for Bitcoin?

I truly don't think that this should be a thing with Bitcoin Investing. I understand how these people can help to create confidence in the market by either their analysis and statements but it is in the same way they can also influence the market negatively so I say let the system be organic.   

[masterrex]

Just recently, Elon Musk drop a big bomb to the Bitcoin community by announcing that Tesla is going to stop accepting BTC as payment for their cars but will be keeping the Bitcoin they stashed for some reasons known to them. And now, we have the suggestion that eventually Tesla will be selling BTC at the appropriate time.

In other words, Elon has now decided to make a big U-turn with his support for Bitcoin and is gonna instead concentrate on developing Dogecoin as his pet cryptocurrency.

This is certainly a big but not really critical test for Bitcoin on how the market can be reacting to this barrage of "bad news" coming from a man who has influenced a lot of the recent rise of BTC.

Now that we can really say that officially Mr. Elon Musk is gone from Bitcoin scene, should we look for another man as a big supporter for Bitcoin or is this idea of associating with specific personalities a bad move for Bitcoin?

I think we should stop hyping this kind of pronouncement from Elon Musk, I consider it as nonsense speculation. because I believe that with or without Tesla and Elon Musk Bitcoin and other useful cryptocurrencies are here to survive, I don't think that the thousands or millions of traders/ holders agreed with that notion that because of a mere pronouncement of a certain Elon Musk causing the market to crash. that's not true we all just put it into a high level of speculation because the market is only experiencing a deep correction and for me, that's normal because most of the cryptocurrencies are overbought during the rally. 

[mlawson71]

People should absolutely stop hyping his tweets, because that is the only way he will lose his power over the market. I don't think we will see that happening any time soon though, not with his celebrity status.

[gabbie2010]

People should absolutely stop hyping his tweets, because that is the only way he will lose his power over the market. I don't think we will see that happening any time soon though, not with his celebrity status.

Paying too much attention to his tweets is having a negative impact on the price of Bitcoin, once we start ignoring him things will come back to normal, just like McAfee who once tried to influence Bitcoin with all sorts of speculations and predictions but was later ignored and shun off making him irrelevant in crypto world, once Elon Musk sell all his Bitcoin I believe the price will normalize and pump.

[Tubelight]

Looking at the Bitcoin market right now, I think the Bitcoin market was very much dependent on Elon Musk.Because the price of bitcoin has come down a lot since Elon Musk said it will no longer support bitcoin.As the world's largest investors invest in the Bitcoin platform, I think the price of Bitcoin will be pumping again.

[Jaguar]

I guess what had happened is a form of strategic plan and super idolized mindset. People look up Elon as god in cryptocurrency that can pump Doge tremendous in short time. Then pump Bitcoin in a short time. However, now is different because the market are all red pointing all of this because of Elon. When Doge pump, when Bitcoin pump, people are silence and didn't say bad words and blame Elon. Today it seems almost all are blaming Elon and Tesla. Bitcoin will increase again in the right time.

[Ferki]

Recently the richest person in the world tweeted about Bitcoin, only to lose 3 billion in just one day and become "only" the third richest?
Has he suddenly become the stupidest person in the world? Who believes in that? He certainly has a whole machine behind him, some consultants and marketing people who have always done their job well up to now.
Why should something suddenly change? He still wants to fly to Mars himself, right?
I think that the Elon has thought about this very carefully and will benefit from it even more in the future.
SpaceX is an expensive business, it still needs a lot of money.

Do you have to believe everything he says now? For God's sake, no.
In my eyes he has become a great manipulator, at the moment no longer the great visionary
DYOR

[Triedboy]

I received the news a few days ago that the Telasa company has stopped bitcoin transactions since then but the price of bitcoin has suddenly become so dumping. I don't understand why he suddenly stopped his company from trading Bitcoin even though he is such a big supporter of Bitcoin. One of the things I have seen recently about cryptocurrency is how much it can affect cryptocurrency.

[Freemind]

As I just said in another thread, Elon Musk looks more like John McAfee every day. He is not stupid, but he does not seem very smart after everything that is happening, he says and does things that he later rectifies thinking that the rest of humanity is stupid, and that is going to cost him dearly, not in money, but in people who follow him blindly.

[mlawson71]

Personally, I think he didn't decide to do this now. It was the plan from the very beginning.

[robert20]

We dont any Elon for the future of crypto. It is already established and nobody can deny the future of crypto and blockchain. We dont need any Elon create hype and then do manipulations. These types of people are here just to make money and pollute the ecosystem of crypto.

[Jaguar]

Personally, I think he didn't decide to do this now. It was the plan from the very beginning.

Maybe as Elon is an engineer. He is wise and will not decide emotionally or carelessly. We can assume that this is just an issue and something in preparation for unknown to come.

[Mj joy]

Just recently, Elon Musk drop a big bomb to the Bitcoin community by announcing that Tesla is going to stop accepting BTC as payment for their cars but will be keeping the Bitcoin they stashed for some reasons known to them. And now, we have the suggestion that eventually Tesla will be selling BTC at the appropriate time.

In other words, Elon has now decided to make a big U-turn with his support for Bitcoin and is gonna instead concentrate on developing Dogecoin as his pet cryptocurrency.

This is certainly a big but not really critical test for Bitcoin on how the market can be reacting to this barrage of "bad news" coming from a man who has influenced a lot of the recent rise of BTC.

Now that we can really say that officially Mr. Elon Musk is gone from Bitcoin scene, should we look for another man as a big supporter for Bitcoin or is this idea of associating with specific personalities a bad move for Bitcoin?

One thing to look at in the crypto world these days is that those who have a lot of money are increasing the price of the coins they are investing in.However, Bitcoin is unfortunate because of the bitcoins that Elon Musk has stopped.I would say it didn't work out at all.But I'm sure Elon Musk is a very clever person I think he himself understands why he took this step.