Bitcoin was made not to be controlled by anyone and to avoid being manipulated for the benefit of some, but with the development of societies and the use of marketing tools by very influential people in the market, such as tycoons, and here I can even say or quote case names of Elon Musk Boss of Tesla this, who uses his time to support cryptocurrencies whenever this market manipulation can happen.
This support, which is somewhat strange, supports cryptocurrencies that are not really viable currencies, like Dogecoin, which has always been a meme but has now taken over the market and is one of the most valuable in terms of Market Cap. This support in this currency is a direct influence on the cryptocurrency market knowing its power in terms of fans, Elon uses that influence and his name to make his followers buy this currency and with this it gains immense appreciation reminding the old man and also a tycoon who used similar means to get his followers to buy crypto that he did marketing ... I'm talking about John McAfee.
John McAfee is under arrest for influencing people to buy coins that had no interest in the market, coins that have led several people to lose money for trusting what he promoted using his social accounts, he is currently housed in a Spanish jail waiting to be deported to the United States where he will be tried.
Returning to Musk, he supports a coin and publicly discloses that his company bought $ 1.5 Billion worth in Bitcoin Core (BTC) and days later his company announces that it will start accepting BTC for the purchase of electric vehicles and that 'for now' only they accept the currency for payment of Teslas.
When the big boss of the largest electric vehicle factory in the world, Tesla, was announced, BTC's valuation was overwhelming and led the market to reach values never before reached record-breaking record, this also accompanied the influence of another important businessman, Microstrategy CEO Michael Saylor, who also tweets about BTC whenever possible and invites influential people to adopt the asset as a store of value.
...Is Musk a liar🤔 always DYOR...
These two together use social media and the number of their followers to manipulate the market and impersonate them, and Twitter has become the platform of choice to do this, Jack the boss of this social platform also contributes to this maneuver😑 and together they confuse the market .
People have been imprisoned for little more than this, and as I recall, even the ex-president of the United States was banned from Twitter because he confused the American people with his fulminants that he had won them over the current president Joe Biden.
It is certain that using blockchain to manipulate BTC is practically impossible, but it is not Impossible to use influence when you have to confuse the market, one thing is a whale dumping cryptocurrencies in the market which causes a slight and sudden drop in price, yet another, but dangerous and completely blatant, is to use the name of your business and its influence, with several million followers on social media to influence the market.
This form is dangerous because it often leads people to invest without looking back and locking up money acquired for a lifetime by trusting these public figures, who sooner or later end up losing and the most painful the perpetrators of this continue in the good life.
Elon and his allies manage to manipulate the market, while proclaiming support for Dogecoin at the same time his company buys BTC and the next minute announces that the company no longer accepts BTC for vehicle acquisition because the asset consumes a lot of fossil energy:
Could it be that when his company bought BTC he did not know that it consumed a lot of energy?
After all Tesla is an innovative company in the field of electricity and supports only environmentally friendly assets...
This only proves what has long been known: he is only interested in the MONEY he can earn with Bitcoin.
One of the communities that suffers most from this manipulation of the market is BCH, which is made up of people who really work hard to give the world something new and highly useful to the world, a real decentralized currency.
Bitcoin Cash is what the world craves for a decentralized digital currency that is free from manipulation and that gives importance not only to the appreciation of the market, but to its usability, a currency that becomes useful will be necessary for use in your daily life.
With its fundamentals such as low transaction rates, speed of transactions and network security, this currency is the best bet for the world.
The real Bitcoin is one that is not influenced by the market, but one that grows gradually and has importance for its holders who can use it for fast and cheap transactions, and this currency is Bitcoin Cash.
It is clear that BTC has become a Ponzi and as a Ponzi people are only interested in the money that comes from it and do not care to destroy the network while achieving their goals. The use of large figures to influence the market is a very sophisticated form of scam, that scheme in which many are not suspicious, but which in the end is a big hole.
In the past it was John McAfee who engaged with his followers and it went wrong with that, today he is staying in a cell in Spain for his behavior for years promoting dubious coins in his social accounts, today one of the richest men on the planet (was once the richest) also engages in these activities.
Many people have not yet noticed this behavior because they 'do not want to see' or blindly believe that they are following good advice from these public figures.
Musk has a huge influence that should be used for example to use currencies that work in the real world, such as Bitcoin Cash to buy vehicles in his company and this would be good, but not to use it to negatively influence the market by promoting memes and 'store of value' for his own gains.
"Cryptocurrencies were made to empower everyone, the ones who really deserves them and wanna use it for freedom of choice is not all about money but about how the humans want to manage their finances..."
** I know I hurt sensitivities with this article but the truth is told when there is manipulation in the market, sooner or later this behavior will be noticed and those involved will be in bad sheets, in the meantime we will see Bitcoin Cash getting stronger.