The roller coaster helmsman, by the way, is getting the highest praise and broad approval as well as verbal beatings and hate comments in large numbers simultaneously – always dependent on which crypto price he´s currently shooting up or down. Apparently, the guru seems to act in large distance to his disciples; love or hate makes no difference, it simply doesn´t matter on his Twitter communication strategy.
Is the crypto market today more mature than its community?
The present situation happens to clearly confirm this assumption. The crypto market is so much more advanced and mature today than it was years ago. Impressively evidenced not least by the significant number of service providers and growing private and institutional investors who invest in cryptocurrencies with care and calculation. Rather long-term, therefore, the professional part of investors involved are likely to be largely immune to Musk´s troll tweets. They do what they have been doing with consistency and belief for quite a while: hold. Maybe even repurchase.
The instability, far beyond the "habitual volatility" of cryptocurrencies currently, is produced in this context to some extent by the crypto community itself. By newcomer investors in huge masses who head over heels buying and selling in sheer hysteria and panic. Whenever there´s a murmur, a word, an announcement, a thumbs up or down from the enlightener promising a new lucky strike or else devastating doom, a tremendous instant stampede sets off.
That´s unhealthy for sure but at the same time not a serious problem viewed in the long-term development light of the crypto markets. While already being far more advanced and consolidated in many respects virtual money and markets are still evolving further, even if for understandable reasons the turbulences these days create a different impression.
Elon Musk – devilish coach of a totally immature community?
Whether intentionally or accidentally, Musk is constantly managing his favorite part with great dedication. Fair enough, following his philanthropic inclinations the man might most possibly be right in the middle of a self-chosen teaching mission, exercising with a legion of cheering, desperate, ecstatic and horrified investors how to avoid personal disaster in any case: by holding up a gigantic mirror to the hooting crowd, pointing out its own nonsensical behavior.
Hands off from investments that you don´t really know and mechanisms which you don´t see through clearly. Don´t get caught up in any emotions, ecstasy or panic when a self-proclaimed guru just clears his throat. As we know, he doesn't cough consistently in the same pitch. What he honks today, he tears down tomorrow.
Regardless whether Musk is being pedagogically on the road or just having a good time trolling, the effect remains the same. After the third or fourth panic or euphoria attack due to a tweet, the healing effect should inevitably set in.
Firstly: A single person, even with “Musk power”, will fail to significantly influence cryptocurrencies in the long term with confusing tweets and contradictory actions. Secondly: Cryptocurrencies are an asset class with the aspiration to mature, in order to achieve long-term rewards, perhaps. The third: panic selling and euphoric buying is a most explosive strategy, which will not only shake one's emotional balance non-stop but even can leave behind botched existences in the worst-case scenario.
Is Elon Musk pursuing long-term crypto goals?
A purely rhetorical question but let´s face it: wind and weather can make or break plans, even voices and sounds can influence moods and therefore steps of immense significance, so just imagine what difference a singing girlfriend could make close to the ear of a notorious border blaster.
Now that we have set our eyes also a bit closer on this dazzling multi-layered freethinker, especially in connection with this still quite immature crypto community, we wouldn´t want to miss the potential role of the cool calculator with crypto visions.
