Every time Elon Musk speaks, the price of cryptocurrencies reacts, when you have so much power over the market, is it possible to avoid using it to your advantage?
How many of us have not wanted to be able to see the future to know when to buy and when to sell to maximize profits. If we knew at what exact moment the price will fall drastically, we could sell just earlier and then buy back at a lower point and if the price recovers or even rises later, the gains could be exorbitant.
Let's just suppose that 100M of bitcoin is bought and then you manipulate the market to boost its price and it rises 40%, we would already have 140M and if we sell at that point and then cause a price drop, reducing that 40% that it had earned before and now we buy back 140M knowing that the price will recover, by doing this we would get 196M, we would practically double our investment.
Is Elon Musk manipulating the price of cryptocurrencies in his favor? If a company as important as Tesla, led by him announces that it will accept payments with bitcoin for weeks after changing its position and belittling the value of cryptocurrencies, to think that this may be happening is not so crazy.
Maybe the dogecoin (with which it has had a similar behavior) was just an experiment to test his ability to influence the market.
What do you think?
