Is the Crypto market maturing?
Hello Community, I hope you all have a great weekend, and that this week that is ending has been very good. I would like to talk today about something that I have been seeing that has happened, and I really think it is very good, because it could be a sign that there is something that is reaching some maturity in the market, at least I think so and I perceive.
I am talking about this because a few months ago the billionaire Elon Musk with just a short message on his Twitter account moved the crypto market at will, many weak hands responded to his manipulations and literally created chaos, so he took advantage of this to get great economic benefits and why not, his close friends ... of course, the latter is mere speculation on my part, but it could be the case.
This was definitely not very well seen by a large part of those of us who are dedicated to cryptocurrencies, since these manipulations can lead to great gains but equally to great losses, so much power in the hands of a single person is comparable to a centralization, and nothing more contrary to the Blockchain than centralization.
But, a few days ago something happened that caught my attention, this same wealthy character who manipulated at his disposal the cryptographic environment a few months ago, appeared giving some statements in which he refused to accept Bitcoin as a form of payment in Tesla, but not that this is wrong, what definitely left him bad standing before the crypto community were the reasons he gave for no longer accepting BTC.
He spoke of contamination by BTC mining, to which many responded and made it clear that their business and even traditional banking is even more polluting, literally many people stopped believing him, and his reasons were mocked and criticized.
Proof of this, at least for me, is that he recently made another Twitt in which he tried to manipulate the prices of Doge coin, but to his surprise there was no such response, nothing to do with what was happening before, so I think it is a good sign, and it seems to me a good thing, a sign of maturity, it is possible, or maybe not.
I would like to know what you have to say about it, greetings to all.
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The world of cryptos is still a total ignorance for many and I dare to say that even the behavior of these is unpredictable, in Venezuela is also just opening, hopefully they can be introduced for tax purposes and many more.
thanks for sharing
The tax effects are somewhat absurd. Some countries want to tax something they don't consider money, it's definitely a crazy world. Where states want to take advantage of citizens any way they can.
nice post
Thanks for commenting.
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Greetings friend @josevas217, my humble opinion on this topic that you share with us is that the cryptocurrency market through its users and investors have seen how this Mr. Elon Musk has manipulated them at will, his company Telsa is also a generator of pollution so he has nothing to reproach the BTC, hopefully your perception is correct and the market is maturing for the better.
I am hopeful that this will be the case, that it will be maturity on the part of some investors, and that in the future no news through a Twitter feed can affect the price as has happened in these opportunities.
@tipu curate 6
Jello qjosevas217, This subject "Musk" has a great influence on a business and economic level, but the fact that he has not managed to "generate chaos" with the comment about Dogecoin as happened with the previous comment about BTC, is really a good sign, we could even think that he is significantly losing the influence he had gained.
Yes. The way I see it, your word has lost power at least in the crypto field, and that's nice to see. At least for me.
Greetings friend @josevas217, Mr. Elon Musk, despite all his riches, the world of cryptocurrencies is too big and powerful to be manipulated, so I am inclined that it was more of a news scandal, which generated panic in people, which made people sell their cryptocurrencies and the market made its necessary correction, after 5 months in a bullish channel.