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Is Elon Musk Manipulating the Crypto Market Again?

Published 06/14/2021, 07:06 AM
Updated 06/14/2021, 07:30 AM
Is Elon Musk Manipulating the Crypto Market Again?

  • Sygnia CEO criticized Elon Musk for alleged Bitcoin pump and dump.
  • Many people started wondering if Musk is manipulating the crypto market again.

Many times, Elon Musk caused the crypto market to crash with his tweets. He pushed the market to drop more than 20% in the last weeks. This triggered some people to criticize the Tesla (NASDAQ:TSLA) CEO.

Recently, Sygnia CEO criticized Elon Musk for alleged Bitcoin pump and dump. According to Sygnia CEO, Musk purposely pumped up the price of Bitcoin. He said that Musk did it by writing tweets, including those mentioning Tesla’s $1.5 billion BTC purchase, then sold a big part of his exposure at the peak.

Moreover, Elon Musk didn’t waste time and took to Twitter to deny selling at the peak. Musk said,

“This is inaccurate. Tesla only sold ~10% of holdings to confirm BTC could be liquidated easily without...

This article was first published on coinquora.com

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Latest comments

it's time to buy BTC
The ONLY difference between Musk and us is the fact that he has followers. he share his opinion as everybody else and he doesnt manipulate the market more than all those analysts or finance institution...
Musk tweets and the sheep follow blindly, eventually over the cliff. All while Musk fills his pockets with cash.
hi
Magda is not CEO of Sygnia.
he's not manipulating anything.. he just says what he thinks. fake news articles do manipulate Crypto along with everything else
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