U-Turn of Elon musk
dogecoin promotion
The Pump And Dump
The pump and dump is a phrase commonly used in the stock market, which means to blow a simple thing and break it after its demand is met. It is a kind of primitive stock market tactic to buy an ordinary thing for yourself and tell the world that it is the biggest thing and then sell it at its price and make a profit. This is what he seems to have done.
A few months ago bitcoin was very popular among the people and then many private companies were introducing that they can buy their products using bitcoin. That is when Elon Musk, one of the richest people in the world, announced that he could buy his cars using this bitcoin. Then the bitcoin market value was huge. The biggest reason for this is Elon Musk.
Within a few months of these things happening, he suddenly took a big U-turn and again posted on his Twitter page that this bitcoin was using too much electricity and that nature’s resources would be severely affected and would not use it buy his cars so the bitcoin market collapsed. Many people question why Elon Musk does not know all things beforehand. It seems to many that he is an ordinary man who acts without thinking.
With a lot of followers on Twitter during these times, we need to know how much change even ordinary people can make in the market. Many of us are investors. This event is considered to be perfect proof of how big a mistake it can be to invest in a sector where we do not know that someone is a great man and that he is right.
This all is I want to share within this article thank you for reading this so far and tell your opinion in response below