Why the euphoria when a public figure mentions Bitcoin

[Stompix]

It is not just a matter of patience.
Bitcoin won't go from 60k to 1million. That is very unlikely to happen again.
Gains are not going to be the same as they were 7-10 years ago.

The Market Cap is already too big. The president of the united states is talking about it.... Huge gains like 10000% were much more likely to happen when nobody was talking about it... but the risk was much higher

Well, another of those guys that have become like the new Jesus is disagreeing with you:
https://cointelegraph.com/news/michael-saylor-ups-bitcoin-price-forecast-13-million-mega-bullish-keynote-bitcoin-2024

“It could be a $3 million bear case, it could be a $49 million bull case,” according to Saylor, who urged listeners at the Nashville, Tennessee event to become “triple maxi” Bitcoin  bulls.

How can it be done, simple, we need to sell mortgages on our houses, buy Bitcoins, and everyone is a millionaire.
Now, I'm pretty sure than in normal times everyone would have screamed Ponzi or MLM scheme when hearing of this plan, but nowadays, laser eyes and lambos!
 

“You financed the house for Bitcoin, you buy Bitcoin, you flip all your assets to Bitcoin, and then you move to a cheap tax jurisdiction where you actually can avoid some taxes and invest an extra fifty grand in Bitcoin,” Saylor explained. “What’s the result?” A net worth of some $214 million, according to Saylor, who recommends a similar strategy for corporations and nation-states.

[bitmover]

How can it be done, simple, we need to sell mortgages on our houses, buy Bitcoins, and everyone is a millionaire.
Now, I'm pretty sure than in normal times everyone would have screamed Ponzi or MLM scheme when hearing of this plan, but nowadays, laser eyes and lambos!
 

“You financed the house for Bitcoin, you buy Bitcoin, you flip all your assets to Bitcoin, and then you move to a cheap tax jurisdiction where you actually can avoid some taxes and invest an extra fifty grand in Bitcoin,” Saylor explained. “What’s the result?” A net worth of some $214 million, according to Saylor, who recommends a similar strategy for corporations and nation-states.

Lol, what a crazy guy.

I don't think anyone should be doing that right now.

Although I am very bullish for bitcoin in mid-term, and I think it will go beyond 100k or even 150k, I don't think anyone should sell their houses to buy bitcoin.

Bitcoin might not be that risky anymore, but it has a very high volatility

[examplens]

People hope that some famous person will embrace bitcoin and price will skyrocket x10 like it used to do

This won't happen anymore imo...

Ecosystem is much more mature and one public figure (even trump) cannot control the price like it used to be. He can influence for some time, but not definitely

Something like that happened. There was euphoria about Trump's performance at congress, everything was caused by just a few days of price growth, they touched approximately $70k, and now after all everything has returned to the same level as before "Trump's support for crypto-currencies".

I sincerely hope that there will be less of this in the future, it is a bit tiresome to read everywhere only about Trump and Nashville

[milewilda]

People hope that some famous person will embrace bitcoin and price will skyrocket x10 like it used to do

This won't happen anymore imo...

Ecosystem is much more mature and one public figure (even trump) cannot control the price like it used to be. He can influence for some time, but not definitely

Something like that happened. There was euphoria about Trump's performance at congress, everything was caused by just a few days of price growth, they touched approximately $70k, and now after all everything has returned to the same level as before "Trump's support for crypto-currencies".

I sincerely hope that there will be less of this in the future, it is a bit tiresome to read everywhere only about Trump and Nashville

There's nothing we can do but we would really be heading there on which there would really be those sentiments that would really be that in connection and this what makes that it would really be neither having that effect into the market movement or not. We've seen that recently about Trump thing but look at on what happened on the market? We've known
that there's that bullish approach about Trumps support to crypto but look at on where we are now?  This is why when you do step into this market then
you should really expect the unexpected as always.

[NotATether]

Why does the crypto community seem so pliable and immediately start glorifying public figures, only if he mentions Bitcoin or cryptocurrencies?
One of the most respected examples, Elon Musk, gave public support to Dogecoin, and the final impression was that he only manipulated, made additional income and possibly promoted his brands.

You will generally find that crypto HODLers support public figures who are against big government since it is widely known that most of the world's governments hate Bitcoin and other cryptocurrencies and would like noting more than to ban those coins. So these public figures take advantage of the bad press and say good things about crypto to enhance their reputation, even if they turn out to be smarmy people on the inside.

Why is the crypto community so susceptible to manipulation?

The crypto community divided by trading analysis and sweet talk gives you a numerical price, that's why.

[MUGNIA]

Public figures can create trends and will have a positive impact on crypto, but here we have to focus on monitoring if we are careless we will lose, so when crypto goes up we take a position to take advantage. because public figures only manipulate the market and they take personal advantage after they profit they will make news that makes the price go down, that's the cycle of public figures in the crypto world in my opinion

[Lucius]

Why does the crypto community seem so pliable and immediately start glorifying public figures, only if he mentions Bitcoin or cryptocurrencies?
One of the most respected examples, Elon Musk, gave public support to Dogecoin, and the final impression was that he only manipulated, made additional income and possibly promoted his brands.
We have had a slight euphoria about Trump for some time now. I don't want to go into how much weight his words have, but it is remarkable how much the crypto community interprets everything he says, and various discussions about what he will do regarding crypto in the future. Meme coins with his image and name are being created, I even saw signatures in support of Trump on the Bitcointalk forum. I will not even talk about spam on social networks.
Isn't that quite an exaggeration?
Why is the crypto community so susceptible to manipulation?

You ask a very good question that has fascinated me personally for a very long time. In countless discussions over the years on BTT, and recently also here, I realized that many people are simply looking for a leader who will tell them what to do - and if that person is also extremely rich (powerful), then he becomes their role model.

The fact is that Bitcoin has no "leader" after Satoshi retreated into the shadows, and apart from the fact that many often complain that 21 million BTC is too few coins, most are obsessed with his identity and with the possibility that he will appear one day.

When Mr. Mars or Mr. Donald Do Not Trust say something about Bitcoin or cryptocurrencies in general from their positions, it has the effect of throwing a bone to a dog (without offending anyone). When we think about it, rich people are rich because they mostly cheat the system and exploit everyone around them, and politicians mostly pave their way to the top with false promises, so I also wonder why anyone would get so excited about what they are talking about?

[examplens]

I realized that many people are simply looking for a leader who will tell them what to do - and if that person is also extremely rich (powerful), then he becomes their role model.

This is probably the most accurate definition of the whole thing.

When Mr. Mars or Mr. Donald Do Not Trust say something about Bitcoin or cryptocurrencies in general from their positions, it has the effect of throwing a bone to a dog (without offending anyone). When we think about it, rich people are rich because they mostly cheat the system and exploit everyone around them, and politicians mostly pave their way to the top with false promises, so I also wonder why anyone would get so excited about what they are talking about?

Only on the Bitcointalk forum have I seen people who have done much more for Bitcoin and its promotion than the aforementioned backdoors and their ilk. And that was from the time when Bitcoin was trivial to most civilians.

[ZAINmalik75]

Why does the crypto community seem so pliable and immediately start glorifying public figures, only if he mentions Bitcoin or cryptocurrencies?
One of the most respected examples, Elon Musk, gave public support to Dogecoin, and the final impression was that he only manipulated, made additional income and possibly promoted his brands.
We have had a slight euphoria about Trump for some time now. I don't want to go into how much weight his words have, but it is remarkable how much the crypto community interprets everything he says, and various discussions about what he will do regarding crypto in the future. Meme coins with his image and name are being created, I even saw signatures in support of Trump on the Bitcointalk forum. I will not even talk about spam on social networks.
Isn't that quite an exaggeration?
Why is the crypto community so susceptible to manipulation?

Because these manipulators will make money and those who will be manipulated will lose money. Now why crypto community is so exposed to this manipulation is because most of the members know that if they will create hype and will become a part of the hype that Donald Trump will make crypto more bullish then they will also make a profit. I have seen how members were talking about Donald and that the shot event caused a great pump.

All were praising Trump and now they are considering him a way to start a bullish event in crypto and if this manipulation and hype become successful then many members will make a profit so that's why no one is talking about not focusing on one entity too much for a decentralized item.

[examplens]

I think we are at the peak of idiocy when it comes to looking into the mouths of public figures and what they will say in favour of crypto-currencies.

Now the son of Donald Trump (Donald Trump Jr) has started to announce big things and wants to get in the riding saddle of the crypto community. Sadly, he's doing great. 



It's even worse that portals like bitcoin.com join in and announce this as 'huge' news. 
I think I might drop them from my list of reliable crypto news sources.
https://news.bitcoin.com/donald-trump-jr-teases-huge-crypto-news-says-defi-is-the-future/

[MainIbem]

I think we are at the peak of idiocy when it comes to looking into the mouths of public figures and what they will say in favour of crypto-currencies.

Now the son of Donald Trump (Donald Trump Jr) has started to announce big things and wants to get in the riding saddle of the crypto community. Sadly, he's doing great. 

It's even worse that portals like bitcoin.com join in and announce this as 'huge' news. 
I think I might drop them from my list of reliable crypto news sources.
https://news.bitcoin.com/donald-trump-jr-teases-huge-crypto-news-says-defi-is-the-future/

Yeah, he's doing great, accepting Cryptocurrency and the opportunities that comes with it is the best decision anyone could take. Well, people would say the trump family might recently be using the praise for Bitcoin and other Cryptocurrencies for their political agenda, but in one way or the other, it's a win for Cryptocurrency cause based on their influence it would further attract more investors to Cryptocurrency but then I think the world through technology has evolved past those times when people Would be depending on motivations from public figures about certain opportunities before they jump into it, Cryptocurrency is the new trend when it comes to finance so all netizens should've been able to research about this new trend and jump on it without waiting for the influence of anyone, moreover most of these public figures are paid to influence shit coins.

[examplens]

Yeah, he's doing great, accepting Cryptocurrency and the opportunities that comes with it is the best decision anyone could take. Well, people would say the trump family might recently be using the praise for Bitcoin and other Cryptocurrencies for their political agenda, but in one way or the other, it's a win for Cryptocurrency cause based on their influence it would further attract more investors to Cryptocurrency but then I think the world through technology has evolved past those times when people Would be depending on motivations from public figures about certain opportunities before they jump into it, Cryptocurrency is new trend when it comes to finance so all netizens should've been able to research about this new trend and jump on it without waiting for the influence of anyone, moreover most of these public figures are paid to influence shit coins.

It's just a matter of manipulation to benefit himself. It doesn't matter politically or financially, but everything is exclusively for their ass.
I just read that Putin has already signed a new law on the acceptance of Bitcoin as well as the legalization of mining in Russia. So a concrete thing, without drama on Twitter or various conferences. OK, he does not need popularity, he has other methods for that  , but the fact is that he has done more in one day than everything Trump has said so far.

[Rruchi man]

Why does the crypto community seem so pliable and immediately start glorifying public figures, only if he mentions Bitcoin or cryptocurrencies?

Public figures or celebrities or top politicians have a very huge influence on people because they are very successful. This is one of the benefits that being successful has because whenever you have an opinion or you have a suggestion on a topic people will always take it seriously, even better than the opinion of a poor man who has no results of success to show.  When a public figure talks about bitcoin, the crypto community understands the influence that their opinions has and this is why they glorify them and there is a euphoria around it.

[Faisal2202]

Why does the crypto community seem so pliable and immediately start glorifying public figures, only if he mentions Bitcoin or cryptocurrencies?
One of the most respected examples, Elon Musk, gave public support to Dogecoin, and the final impression was that he only manipulated, made additional income and possibly promoted his brands.
We have had a slight euphoria about Trump for some time now. I don't want to go into how much weight his words have, but it is remarkable how much the crypto community interprets everything he says, and various discussions about what he will do regarding crypto in the future. Meme coins with his image and name are being created, I even saw signatures in support of Trump on the Bitcointalk forum. I will not even talk about spam on social networks.
Isn't that quite an exaggeration?
Why is the crypto community so susceptible to manipulation?

We are so vulnerable to such manipulation because we take things for granted like the words of Trump who knows if he is true or not? I have also observed this thing that when people attach their hopes to one person or one event that they think will make the situation for market much better then nothing good happens really. I mean it's not that simple to judge the price of BTC that if Trump wins market will pump.

Who can give a guarantee that the market will pump if he wins? It's just a sentiment or a fud maybe being spread among people so they will buy more and then expect a pump. If there is none they will become a victim of this fud or either due to this fud there will be more buying and price will automatically go up.

[Gurujebs]

Lol, what a crazy guy.

I don't think anyone should be doing that right now.

Although I am very bullish for bitcoin in mid-term, and I think it will go beyond 100k or even 150k, I don't think anyone should sell their houses to buy bitcoin.

Bitcoin might not be that risky anymore, but it has a very high volatility

I will gladly sell my house and buy Bitcoin but unless I can see Bitcoin right under $10k.  Is that even possible right now? I doubt if Bitcoin will ever go that low, that means we will possibly be seeing third world War by then maybe and institutional investors might want to panic and sell but even with that, is it really possible? Because I doubt.

Bitcoin is now too popular around the neck of influencers, I just hope it goes where Satoshi dream of it but I think a time will come when the influence will no longer matter again especially when all this promises of elections are not actualize later in the future, I don't trust politicians and there words.