# ELON MUSK:
I believe most of you are aware of Elon Musk and his recent impact on the crypto market. Elon has a track record of manipulating the market since his tweets have really impacted the Tesla stock price. SEC has also taken steps regarding that against ELON MUSK. And that may be the reason for entering the unregulated market.
Last night, Cointelegraph has published news citing the talk of the CEO of Sygnia, a financial service company, that Elon was manipulating the crypto market through his social media tweets- Twitter. It seems obvious for her to talk about that if you are aware of the price action of many coins. DOGECOIN has pumped so seriously and the only reason is Elon Musk tweets and his support.
According to Sygnia CEO, Musk knowingly pumped up the price of Bitcoin (BTC) by writing tweets including those mentioning Tesla’s $1.5 billion BTC purchase, then “sold a big part of his exposure at the peak.” Musk’s public statements on Bitcoin as well as him reversing Tesla’s position on accepting the cryptocurrency as a form of payment constitutes price manipulation.
At that time, the price of Bitcoin was in the lower 36K$ range but we got a response from Elon Musk where he mentioned that:
This is inaccurate. Tesla only sold ~10% of holdings to confirm BTC could be liquidated easily without moving market.
When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trends, Tesla will resume allowing Bitcoin transactions.
After his tweets, BTC's price starts spiking in a matter of time. You can look at the big bullish candles in the picture below:
It seems that Tesla would again start accepting Bitcoin as a payment method and it is really good for the overall crypto community but the way information is supplied seems confusing. Time will tell either Tesla would resume the BTC transactions or not but this tweet leaves some hope for the resume of that services.
Things get more exciting when you look at the time of the tweet of Elon Musk. He always tweets at the weekend or in the dead gap time in between different markets. The weekend is famous for the low liquidity and it becomes so easy for the big market players to manipulate the market and all the blame will be going towards Elon Tweet.
So, What do you think about this? Are Elon's tweets really impactful or there is a big game ongoing in the backend?
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Hello @ridam! This is @indayclara from @ocd (Original Content Decentralized) team. We saw that you already posted your first post here in Hive! Congratulations and welcome!
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Thank you so much for making me understand the introduction post. I also read the newbie guide and yes I am creating the introduction post here.
BTW, I have a question here:
I am working on another forum and Would it be accepted here if I post the same topic in this forum and another one? I would be the original author so I would like to know about it?
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