5 ms·

Dogecoin Falls Amid Musk’s ‘Saturday Night Live’ Appearance

8 points by chirau 5y ago

BuyMyBitcoins 5y ago
All of these newcomers to trading are going to learn about “Buy the rumor, sell the news” firsthand.
rvz 5y ago
It just means the early birds (DOGE whales) are profit taking some of the DOGE hype and left the retail latecomers (Robinhood users) bag holding some DOGE and are now 'panicking'. If you think 0.1c is a 'crash' in DOGE, You are too new into the crypto markets and haven't seen anything yet. That there is called profit taking from the whales due to selling on the news. Welcome to crypto.
alexnewman 5y ago
Buy on rumor sell on news
adamcstephens 5y ago
Am I the only one that thinks this entire situation is a bad sign for our future?
donsupreme 5y ago
Musk quickly went from beloved by the tech community and misunderstood by the masses to beloved by the masses and scorned by the tech world. What's most disturbing is that Musk knowingly "backed" a technology that he knows is inferior and meant as nothing more than a joke which sort of goes against everything he has been promoting as an innovator and futurist. I am not sure what exactly his endgame is, but I think he is too far into this he can't really back down from being a Doge's spokeperson and supporter. This is hugly depressing and demoralizing for the entire space of cryptocurrency.
emmap21 5y ago
At the end, Elon Musk put Dogecoin at the right place. This crypto is completely a joke to tell how superficial it is. Why do everybody put money on that useless tech rather something real, e.g. save people lives?
- rvz 5y ago
  Indeed. He (and Tesla) know how to game the markets and use Twitter and his followers to hype and pump cryptocurrencies and cash out with a massive profit. He most likely already bought DOGE and then started hyping it before dumping it later. We don't know, but TSLA and Elon did exactly this with BTC. Most of the latecomers following this DOGE pump and dump scheme probably will be hodling the bag and hopelessly 'buying the dip', and averaging down from the high of $0.78.

8 points by chirau 5y ago

All of these newcomers to trading are going to learn about “Buy the rumor, sell the news” firsthand.

rvz 5y ago

It just means the early birds (DOGE whales) are profit taking some of the DOGE hype and left the retail latecomers (Robinhood users) bag holding some DOGE and are now 'panicking'. If you think 0.1c is a 'crash' in DOGE, You are too new into the crypto markets and haven't seen anything yet. That there is called profit taking from the whales due to selling on the news. Welcome to crypto.

alexnewman 5y ago

Buy on rumor sell on news

adamcstephens 5y ago

Am I the only one that thinks this entire situation is a bad sign for our future?

donsupreme 5y ago

Musk quickly went from beloved by the tech community and misunderstood by the masses to beloved by the masses and scorned by the tech world. What's most disturbing is that Musk knowingly "backed" a technology that he knows is inferior and meant as nothing more than a joke which sort of goes against everything he has been promoting as an innovator and futurist. I am not sure what exactly his endgame is, but I think he is too far into this he can't really back down from being a Doge's spokeperson and supporter. This is hugly depressing and demoralizing for the entire space of cryptocurrency.

emmap21 5y ago

At the end, Elon Musk put Dogecoin at the right place. This crypto is completely a joke to tell how superficial it is. Why do everybody put money on that useless tech rather something real, e.g. save people lives?

rvz 5y ago
Indeed. He (and Tesla) know how to game the markets and use Twitter and his followers to hype and pump cryptocurrencies and cash out with a massive profit. He most likely already bought DOGE and then started hyping it before dumping it later. We don't know, but TSLA and Elon did exactly this with BTC. Most of the latecomers following this DOGE pump and dump scheme probably will be hodling the bag and hopelessly 'buying the dip', and averaging down from the high of $0.78.