This is extremely sad...... I have seen the same thing with the stock market, the fed can just speak and instantly cause the market to rally or crash!
With the stock market, I've always wondered if the bots were just programmed to follow newsfeed and react accordingly, now we're seeing the same thing with Elon musk Tweets.
He is not an an authority on crypto.
I wonder if he is playing the market to buy on his bad Tweets, this would not be the first time in History this has happened.
No he is not our friend.....
Sadly Elon Musk is now, according to some, an authority when it comes to crypto hence his current powerful influence on the crypto market. We don't take that opinion, we agree with you @silvertop74 in that Elon Musk is not a legitimate authority despite his impact on some people's perspectives.
You raise two interesting points - in relation to the bots and their buy and sell commands based on a newsfeed well that could well be the case, although the algorithm which tells the bot to buy/sell would have to be so intelligent that it could decipher within a very short period of time whether to buy or sell according to events unfolding in the world at any given time. Your other point about Musk playing the markets could also be true but if he is doing all this to make money from crypto wouldn't he eventually be exposed and would totally contradict his environmental stance?