I mean, I suppose it is possible that Elon Musk made people go out and buy Bitcoin one day and sell it again a month afterwards just with a tweet.
I’ve never met one single person either online or in the flesh that fits this description, but I suppose it’s possible.
Is it not more likely that he can read the market rather than influence it? That the market would have (and will continue to) do its thing regardless of what he and other “influencers” do?
Think about it. Every few years, generally around a “halving” Bitcoin goes into a steady Bull market and then experiences a dramatic jump that lasts a month or so. Everyone who’s anyone saw it on the horizon early this year, Musk was actually fairly late to the party.
His ego (which we all know to be massive) was stoked by the fact so many people thought he’d made something happen that he’s more than happy to perpetuate the myth. But the reality is that he called the moves, he didn’t make them.
If you accept this, then the upcoming “Musk/Dorsey” event needs viewed through a different lens.
They can speak all they want about where crypto is going. It’ll not change anything. The market (at the top end) doesn’t care what they think. It’ll do it’s thing regardless.
Mind you, I could be wrong! It wouldn’t even the first time.
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