05-05-2022, 12:16 PM
Elon Musk twitter-screwed the market yet again: APE edition
<!-- SC_OFF --><div class="md"><p>1) Musk changed his Twitter profile picture to a bunch of Bored Apes.</p> <p>2) APE jumped up 20%. The news was spreading fast. People wanted to ride that train "to the moon." News articles started to emerge <em>"APE soared..." "Elon Musk changed his Twitter profile pic..." "Musk endorsed BAYC"</em>...</p> <p>2) Musk tweets: "I dunno... Seems pretty fungible to me." Perpetuating the idea that NFTs are essentially jpegs that anyone can make an unlimited amount of copies of.</p> <p>4) APE drops all the way back and keeps going. From this point, as usual, it may go up or down.</p> <p>If Elon gave the market several days before delivering his punchline, the results on APE FOMOers would have been catastrophic. </p> <p>What lesson can we learn from this? I dunno... Someone learned not to invest based on Elon's tweets today for sure.</p> <p>Btw, those articles still keep popping up...</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/inevitable_username"> /u/inevitable_username </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/ui4g3y/elon_musk_twitterscrewed_the_market_yet_again_ape/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/ui4g3y/elon_musk_twitterscrewed_the_market_yet_again_ape/">[comments]</a></span>
<!-- SC_OFF --><div class="md"><p>1) Musk changed his Twitter profile picture to a bunch of Bored Apes.</p> <p>2) APE jumped up 20%. The news was spreading fast. People wanted to ride that train "to the moon." News articles started to emerge <em>"APE soared..." "Elon Musk changed his Twitter profile pic..." "Musk endorsed BAYC"</em>...</p> <p>2) Musk tweets: "I dunno... Seems pretty fungible to me." Perpetuating the idea that NFTs are essentially jpegs that anyone can make an unlimited amount of copies of.</p> <p>4) APE drops all the way back and keeps going. From this point, as usual, it may go up or down.</p> <p>If Elon gave the market several days before delivering his punchline, the results on APE FOMOers would have been catastrophic. </p> <p>What lesson can we learn from this? I dunno... Someone learned not to invest based on Elon's tweets today for sure.</p> <p>Btw, those articles still keep popping up...</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/inevitable_username"> /u/inevitable_username </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/ui4g3y/elon_musk_twitterscrewed_the_market_yet_again_ape/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/ui4g3y/elon_musk_twitterscrewed_the_market_yet_again_ape/">[comments]</a></span>