In the last several months, Tesla'nın CEO'su Elon Musk, has been tweeting about crypto the way Trump used to tweet about foreign policy and domestic terrorism. Giving investors whiplash.

One difference between Trump and Musk is Trump was president of the United States. The highest office in the land. Elon Musk is president of a car company and is actually wealthy, çok unlike Trump. Musk is the richest man in the world, with an 197 milyar dolarlık tahmini net değer. Unlike us, he has money to lose.

Musk is allowed to have opinions and tweet about them.

Just because he is the richest man in the world doesn’t make him an authority on crypto markets. Yes, he is moving them up and down drastically with each new tweet. But that says more about us, than it does about him.

Musk takes a break from figuring out how to land his SpaceX on Mars, moves his thumbs rapidly for a few seconds, and shoots off a tweet, Bitcoin tumbles 12%.

You should not be making investment decisions based on tweets.

Last week Musk sent Bitcoin (CRYPTO: BTC) plummeting 12% in one day, and it’s tumbled another 11.45% today. Last week, the SpaceX CEO also sent dogecoin (CRYPTO: DOGE) prices up 30 percent after tweeting that he was working with dogecoin developers to improve its efficiency.

This is not a good investment strategy for those of you hanging onto every tweet. I glanced at some of the comments after Musk’s bitcoin tweet that Tesla would no longer be accepting bitcoin as payment, and the general consensus is “fuck you, stop manipulating the markets.”

I don’t believe Musk sells off large amounts of crypto and then tweets to drive the price down. Or tweets to drive the price up so he can then sell.

Yes, he is the richest man in the world. The richest man in the world has options most of us do not.

Just like investing in traditional markets — the stock market — investing comes with risk. It is how we manage our emotions around the risk that count. Even though crypto is now 12 years old, it is highly volatile. But it is here to stay. There is no going back from crypto. I don’t know which coins will survive or make money, but cryptocurrency is here.

Any investment decision you make should consider your personal situation, financial life, and what is best for your money. It should not be dependant on what the richest man in the world tweets.

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Source: https://medium.datadriveninvestor.com/good-investors-dont-take-buy-signals-via-tweet-3799d611405?source=rss——-8—————–cryptocurrency