Does Elon Musk really move the crypto market?

Granted this is a meme but I do find that whatever he says DOES something. One only has to look at Tesla and Doge!

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The blog linked to (below) appeared in my email inbox one week ago. It’s Banyan Hill’s e-newsletter titled Great Stuff, written by Joseph Hargett. Hargett writes a lot of accurate and timely stuff, all cleverly disguised as light-hearted, tongue-in-cheek banter.

I agree with Hargett’s comments regarding Elon Musk’s meddling in the crypto space. Basically, what he and I agree on is this: Bitcoin was precariously positioned for a sharp drop, even before Musk waded into the fray. But, Musk gets the credit (or blame) for pushing Bitcoin over the edge. Hargett compares it to pouring gasoline on a fire that’s already raging.

As Bitcoin tanked, Ethereum and most of the other altcoins played follow-the-leader, and headed down the drain, as well.

As a social media “influencer”, Musk can definitely make things happen. When he “shoots from the lip”, he can create a lot of chaos.

This image is from the Great Stuff blog (it’s representative of Hargett’s humor) –

Elon Musk tanks cryptos


Here’s a link to Joseph Hargett’s May 19 piece –

Makes sense but doesn’t explain Doge. :))

Also do you agree with this:

“But if you don’t already own any crypto, now’s the perfect time to buy in. Remember, one of Warren Buffett’s favorite axioms is “the time to buy is when there’s blood in the streets.” And I’m sure we can all agree that the crypto streets are pretty bloody right now.”