Bitcoin's overall trend, revealed by trends of price, leverage, and time, are defined and discussed in The Matrix for subscribers.
JD power's recent survey ranked Tesla nearly last in dependability. Elon Musk's large social media following can’t be result of high quality automobiles. It’s hard to imagine the designer of the Yugo would have been able to accumulate millions of followers if it were release today.
Perhaps Musk’s following is a result of entertaining, seemingly spontaneous off-the-cuff statements. His latest statement suggests Bitcoin and Ethereum's price "seem high."
Attention crypto traders: Elon Musk says Bitcoin prices "seem high" https://t.co/QSG1Zt2WCK— Bloomberg (@business) February 20, 2021
Musk stepped into our world once he put on the market timer hat. That’s something we can evaluate.
How will the cult of Musk, many of them true believers in cryptocurrency, handle this statement? Most will likely produce Tears in the Rain, but honestly, it really doesn't matter. Telsa's announcement that it invested $1.5B in Bitcoin a few weeks ago reveals his timing abilities are poor. The Matrix shows us that Bitcoin's primary trend flipped 8 months ago. Why wait until February to buy? If he didn't know when the primary trend flipped, how’s he suppose to know when it's extended (the price is high)? I doubt he does, but it apparently makes for good entertainment.
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