The Future of Cryptocurrency Following Elon Musk's Tweet

[Freemind]

@Prime I think for Elon Musk cryptocurrencies are like cows, you can milk them while they give milk (money) and if at some point something goes wrong you can make them burgers and use another crypto/cow. What I mean is that I wouldn't be surprised if Elon Musk or Tesla found some irreparable "flaw" in Doge and also stopped accepting or using it. The manipulation is enormous, the brain of the majority is small.

[cheezcarls]

Because of his tweets, I truly lost my full respect to Elon Musk no matter what his credibility is in the past nor his inspiring stories. Reputation is hard to build for years, only to lose it in just minutes in the crypto side (not his Tesla, SpaceX business or so). Even that there are others who defended Elon Musk on not being the reason behind this crypto bloodbath, he still played a part of it, and I don’t like that he manipulated the market for just a single tweet or statement.

[Mas Bro]

If we talk about mining and bitcoin development, it is undeniable that bitcoin is the most valuable asset in cryptocurrency and not a single investor will reject it, because they will not reject any energy source in cryptocurrency.
If you look at Elon Musk, the problem is not only that he wants to manipulate the market, but the problem is people who trust and follow every word in his every tweet. So everyone, traders and investors must have the ability and be able to make their own investment decisions. Don't just be careless in investing.

[Seerge]

Elon Musk really has great power to influence millions of Crypto communities in the World. What he said really had a very profound effect, in fact it didn't have to happen ... But that's the truth, now Elon Musk has become a price regulator for Bitcoin and other coins too.

[Kohatiiboy]

I think Elon mask and Tesla loss their respect now. His tweet will be no longer any impact on price of cryptocurrency.

[Abubakar56]

Currently with the little experience am having I believe if Elon musk continue like this the future of cryptocurrency won't be really good because cryptocurrency is going to be controlled by billionaires which is a very bad idea. Bitcoin will be pumping and dumping which is very bad and won't really allow bitcoin to move well.

[zilzylian]

The cryptocurrency market is extremely volatile. As a cryptocurrency newbie, I am somewhat lost on what to do next.

The crypto market is back to green, but who's to say for how long?

Will BTC break past 50k? Is Doge going to the moon? What are your thoughts regarding the matter?

Here we only have technical analysis and no one knows the future price of BTC and Dogecoin, but if you look at the current price decline situation, Bitcoin price has fallen by 53% and this situation is almost the same as the decline in the price of Bitcoin in April-May 2018 by 63%.
Back on your topic? Elon Musk is just taking on the role of an Investor and influencer who spreads the FUD so that he can take advantage of buying more BTC at $39k, panic selling has occurred for 1 week and now BTC is trading at $41k.
will BTC touch price level $51k ? I believe it happened again before the ethereum fork took place in July, let's see buddy

[Freemind]

Currently with the little experience am having I believe if Elon musk continue like this the future of cryptocurrency won't be really good because cryptocurrency is going to be controlled by billionaires which is a very bad idea. Bitcoin will be pumping and dumping which is very bad and won't really allow bitcoin to move well.

The future of cryptocurrencies will not be dictated by Elon Musk or anyone else. The future of cryptocurrencies is decided by the community, supply and demand. I'm sure that before doing something similar now Tesla and Elon Musk would think about it a lot, because they know that the whole world would be on top of them, and that can negatively affect them as a brand and as an entrepreneur.