Billionaire Elon Musk Market Manipulation strategies
Elon Musk the so called Father of Dogecoin The King of Manipulating Crypto Prices has the Manipulation powers of the whole Crypto Currency When Elon Talks Your profits might increase or decrease. Telsa CEO has power over what was meant not to be controlled. Read The Elon Musk Effect on Crypto Currency, read about Elon Musk The Man who made Bitcoin Jump from $19,000 to $64,000 and back to $30,000 with mere tweets.
Elon Musk the Self-made Billionaire who is at the present time the second World richest Person and A multi-CEO of Multiple High Take Leading Companies namely Telsa, Neural ink and Space X has for the past 6 months been Twitting about Cryptocurrencies and for the first time ever, his thoughts and opinions have been affecting the value of prominent coins like Etheuemem and the legendary Bitcoin
What Did Elon Musk Do to Manipulate the Market?
Elon Musk has been seen as the godfather of Crypto Currency as he announced that his Company Telsa shall be accepting Payments of their cars through bitcoin, he also revealed that his company had purchased over the 1.5-billion-dollars worth of bitcoin. Which was the highest purchase of crypto-based currency bitcoin.
That announcement alone so, bitcoin value fly off from where it was to hit records high of 63 thousand dollars per coin
What is Bitcoin? Quick History
Bitcoin is a cryptocurrency that was made in 2009 to combat the great affection that saw bank systems crush, bitcoin is earned by mining coins and the ledger on which translations are recorded is called a blockchain. Bitcoin at some time back was only worth $0.05 but from 2009 to 2021 it had risen to a Record High of 63,000 dollars cost per coin.
Bitcoin is earned through mining and those who already mine bitcoin can be traded in exchange for other goals and services just like actual flat money, bitcoin has proven resourceful and useful in developing countries as it has helped people receive money instantly quicker than the transitional monetary systems.
The creator of Bitcoin is called Satoshi Nakamoto but he has never been seen and he quickly disappeared when he discussed the blueprint of what is now popularly known as bitcoin.
Why is Bitcoin Being Widely Accepted?
At the moment of writing this article, bitcoin is being widely accepted by major companies who wanted to even crush it in its initial market stages, but now most firms like PayPal have opened up and have started accepting cryptocurrency as the new payment system for goods and services.
Bitcoin though not regulated it has a very high value so those who have or own it does make tones of profit with it, that’s why huge companies have started seeing the potential which crypto curries have and that’s why Telsa even bought it in the first place but it’s such a shame that Elon Musk is using His tweets to Manipulate The value of the Coins and with a single Tweet His able to Cause harm to a lot of people
When did Elon Musk Start Talking Crypto?
Elon Musk a few Months ago shifted his attention from AI to Posting about Crypto Most of His words were about honoring the Innovation of crypto Currencies and Blockchain which saw the value of the coins and even the trading platforms like Coinbase and Binance Become Billion Dollar Companies and Early holders of a currency called Dogecoin become Millionaires.
Elon Musk has in no doubt affected the market with his Twitter account, and even for a time the whole world was watching at what he was going to say about Dogecoin at an American Joke show, a lot of people thought, he was going to say something very positive about the coin that would make it rise from $0.74 to maybe $1 it would have been a groundbreaking achievement for the dogecoin community who are dying for the coin to hit that landmark value.
But instead, Elon Musk Calling it what he should he described dogecoin as a Hussle and the price of the coin fail from $0.74 to $0.43 in the actual term we call it a Dip, a lot of people started panic buying and selling so it is obvious Billionaire Elon Musk has the potential to Manipulate the markets
Elon Musk Single Tweet Has Made Bitcoin Lose 20% of its Value
Elon Musk made a post months after Telsa decided to accept Bitcoin as a payment to their High-tech cars, that the firm will no longer accept Bitcoin since it is not environmentally friendly, and that most miners use fossil fuel to mine the coins that is why Telsa a clean Energy company, that specializes in Creating Electrify Cars and is also a parent Company of a Solar creation Company could not advocate the use of Bitcoin anymore.
Tweets from Elon Musk, are by far among the most controversial of all, one moment his own your side the next his doing something completely different. Elon Musk’s Telsa is still Holding its Bitcoins nothing has been disclosed as to whether they have made sales or how they are planning to let go.
Elon Musk the Subject OF conspiracies
Elon Musk with his Tweets is manipulating the Crypto Market and this has in no doubt made him become the subject of criticism and also conspiracy, other people think he is manipulating the markets so that he could by more cryptocurrency because Telsa has not sold what it was holding. “Why say Bitcoin Is energy intensive when you knew that already?”
Others are questioning his support for Dogecoin as well as Dogecoins the meme currency also uses the same technology as Bitcoin
Others assume he is crushing the Bitcoin Market so that the supporters of cryptocurrency would level Bitcoin for Dogecoin so that he can make more money and become ultra-rich like he isn’t rich already.
Elon Musk Tried TO Redeem Himself on Dogecoin Comment
Elon Musk after calling Dogecoin a Hussle he tried to redeem himself by saying a rocket Space X shall fire into Space shall have the Dogecoin Image and he was also thinking of buying a doge from Japan where the Dogecoin Dog breeds. They are Native from Japan. He also said Dogecoin Shall be the future curacy of Mars but we do not know when this shall happen, maybe in 2026 as he had promised.
Whether with Elon Musk or not Crypto has proven to be one of the best inventions of 2009 and it’s a modern currency that only works with the internet, connecting billions of people and helping them gain and make money easily. Elon Musk 2009 did not even know about it he has only known it now and he wants to use his influence to manipulate the market. But the way we see it cryptocurrency will not die out people like Elon Musk might be Billionaires but Cryptocurrency means a lot to a lot of people worldwide and it is here to say.