Is The Fate of Cryptocurrency Linked to Twitter?

in Project HOPE7 months ago

It seems that the cryptocurrency market is taking a different path this time, as the huge rise in digital currencies these days is not due to large investments or because of the news.

But Twitter and social networking sites have another opinion on the rise of digital currencies, as the rise of digital currencies depends on one tweet.

This is what happened with Dogecoin and Bitcoin later.

But perhaps this is not the first time that this happens. It was already happening with John McAfee, but the impact may now be greater and faster with Elon Musk.


How did Elon Musk exploit the cost of Bitcoin?

At the time Musk changed his CV to Bitcoin, it was not just a precedent in the next development of Bitcoin, but it also influenced several other famous records that updated their resumes as well, until Bitcoin achieved returns of around 25%.

After Mask changed its history on Twitter, Bitcoin's price rose 8% after 30 minutes.

They don't seem, by all accounts, to be responses but instead to free-of-charge activities that lead to massive expansions in the exchange of volumes and returns that are significant, positive and exotic.

While Musk updated his Twitter account, Binance was burdened with demands.

Cz, CEO of Binance, assumed Musk might be the reason for the requested increase, but that can't be said.

Musk has tweeted about "Dogecoin" on some occasions, however it is the most obvious example as coin leveraged his tweets.

One word: Doge.

He also changed his CV that day to the former CEO of "Dogecoin".

This tweet alone resulted in the cash getting 10% in just five minutes, the specialist noted.

After an hour, this effect had reached 20%.

In addition, recently, "Musk" has been providing a series of tweets about "Dogecoin", yet it appears that the effect, by all accounts, is much weaker than it has been before, as the funds are not undervalued as much as they once were. .


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