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Can Social Media Influencers Influence the Price of Cryptocurrencies?

  • Thread starter Thread starter Zevin
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I believe influential and wealthy social media influencers can actually have an impact on the price of Bitcoin. Looking at Elon Musk, at a time he tweeted about Bitcoin and suddenly the price of skyrocketed, that is the significance of a social media influencer!
 
Yeah i think factors like this influence the price of bitcoin and most people use this opportunity to trade bitcoin and make more profit from the increase and i never expected the increase to happen so i was a bit surprised and i an really happy the increase finally happen and most of my friends benefitted from it.
 
Nathaniel said:
Social media affects our lives daily. ... But just as social media can help popularize cryptocurrency, it can also contribute to market price fluctuation
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One of the factors that really make the price of cryptocurency to fluctuate in the market most times is the news and the perception the traders or investors have about the issues on the news,it does affect market price.
 
Very sure. We all know witness what happened to doge coins when Elon musk tweeted something similar to it. That's why they are called influencers. They can influence everything. If people find out that a particular influencer is invested in a particular coins now, the next thing you'll see is people rushing to buy it.
 
I think important figures in financial sectors at the one who have the power to influence the price of bitcoins in the market. Social media influencer can only try when it comes to product launching, but they have little or no effect on cryptocurrency. The financial expert, the cryptocurrency expert and brokers as a powerful rules to play when it comes to influencing the price of cryptocurrency.
 
There are some powerful influencers I know that have the power to influence the movement of any cryptocurrency , one of them which obviously have been doing it is Elon musk. They have the ability depending on how powerful they are
 
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