As everyone here knows, several months ago Elon Muck announced that Tesla would accept bitcoin, and it seems like this move is largely considered to be what drove bitcoin up from the 30k’s to the 60’s. Then when he said “oh actually, nevermind,” the price dropped back into the 30s.
Now, however, he’s reversed his decision again, plus Lex Luthor Jeff Bozos is about to start accepting crypto at Amazon. By that logic, if price was a reflection of real-world happenings, shouldn’t we be rocketing towards 100k BTC right about now?
And since we’re not, is this indicative of the price movement being a result of something else? I’ve long suspected that whales and market manipulators were just timing their moves to Muck’s tweets and using him a scapegoat. Would you all say that recent market behavior when compared to recent braking news would give more weight to this theory?
And if so, how does one best think about the market, knowing that current events are not the driver of price fluctuations?
EDIT: for clarification, I am not asking if the price is being manipulated. I know the price is manipulated, and have for a while now. The real question is, is recent good news without a correlating price increase obvious enough to convince the mainstream that the price is manipulated?
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