Elon Musk as the Father of Cryptocurrency Market Manipulation

Elon Musk, the founder of Tesla and SpaceX, has become known as an influential figure in the cryptocurrency market. His tweets and public statements often lead to significant price movements.

Bitcoin Example ($BTC )

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In early 2021, Musk announced that Tesla had purchased $1.5 billion worth of Bitcoin and would accept it as a means of payment. This caused the price of BTC to skyrocket. However, he later announced that Tesla was suspending Bitcoin acceptance due to environmental concerns, causing the price to drop significantly.

Dogecoin Example ($DOGE )

Musk has repeatedly mentioned Dogecoin in his tweets, calling it the "cryptocurrency of the people." Each time after his tweets, the price of DOGE increased sharply. For example, his tweet "Doge barking at the moon" in April 2021 caused the price of Dogecoin to increase by more than 100%.

Questions about Integrity and Transparency

Musk's manipulations raise serious questions about the integrity and transparency of the cryptocurrency market. Small investors are often at a disadvantage due to his influential statements.