One man makes a difference in Dogecoin and Bitcoin Prices

[Sincerem]

Its been a while now I've never heard about Elon musk tweeting about the progress of his baby-doge Shiba Inus coins. He's just relaxed at the moment.

 

[BrolySSJ]

The love of Elon musk for cryptocurrencies is not hidden. He has definitely made a lot of impact in the prices of cryptocurrencies like Bitcoin and dogecoin.

I do agree with you and to be honest, I expect that the same thing will happen with Ethereum as well as he recently also mentioned that he is invested in this coin as well. This is likely to bring a lot of confidence to this coin as well, which will in turn result in there being a lot of growth in the number of large investors looking to the Ethereum network and other coins that may operate on its network as well.

 

[Josemendez]

Elon Musk has been a very popular figure when it comes to cryptocurrency . His opinions have been found to affect the market positively and will continue to affect the market because of his Fame and knowledge

 

[BrolySSJ]

Elon Musk has been a very popular figure when it comes to cryptocurrency . His opinions have been found to affect the market positively and will continue to affect the market because of his Fame and knowledge

I think that when it comes to Elon musk peopel are able to see how successful he is in investments and from this they start to place a lot of confidence and emphasis on the movements that he takes when investing. For example investing in a coin like dogecoin that was just a memecoin shows that he must be seeing something in that coin that bitcoin and other crypto does not have and therefore he i such a bit advocate for this coin.

 

[Good-Person]

I think that when it comes to Elon musk peopel are able to see how successful he is in investments and from this they start to place a lot of confidence and emphasis on the movements that he takes when investing. For example investing in a coin like dogecoin that was just a memecoin shows that he must be seeing something in that coin that bitcoin and other crypto does not have and therefore he i such a bit advocate for this coin.

Unfortunately, the fact of the matter remains that even though Bitcoin price cannot be directly controlled by anyone, it can still be influenced and still be indirectly controlled due to circumstances and the influence of some particular people. I do not think there is a way to end this problem.

 

[BrolySSJ]

Unfortunately, the fact of the matter remains that even though Bitcoin price cannot be directly controlled by anyone, it can still be influenced and still be indirectly controlled due to circumstances and the influence of some particular people. I do not think there is a way to end this problem.

I do agree with you on this and this is a very worrying factor if you are a small investor because it could mean that those that are controlling the market are making profits through the losses of the other people as well. I think that the only way that this can be addressed is to try and limit the buy orders by these large investors and the sell orders as well to prevent a pump and dump scheme.

 

[Hena101]

This is not a one man but the richest man in the world his influence change a lot in crypto currency world and even make some people to have interest in crypto currency.

 

[BrolySSJ]

This is not a one man but the richest man in the world his influence change a lot in crypto currency world and even make some people to have interest in crypto currency.

This is actually a very common misconception when it comes to Elon Musk and whilst it may have been true last year that he was the richest man, this is no longer the case. In fact there has been a major loss that he incurred and his company as well in their cryptocurrency investment, and whilst he expects it to rise, this has dropped him down in his ranking, and he is now the third richest in the world if I am not mistaken.

 

[Good-Person]

This is actually a very common misconception when it comes to Elon Musk and whilst it may have been true last year that he was the richest man, this is no longer the case. In fact there has been a major loss that he incurred and his company as well in their cryptocurrency investment, and whilst he expects it to rise, this has dropped him down in his ranking, and he is now the third richest in the world if I am not mistaken.

It does not matter, as far as I think. What matters is the fact that he is the person who has been manipulating the coin price and I think if he has not invested in crypto coins, then he will play this game for a long time. Crypto price is being controlled despite not being a centralized assset.

 

[BrolySSJ]

It does not matter, as far as I think. What matters is the fact that he is the person who has been manipulating the coin price and I think if he has not invested in crypto coins, then he will play this game for a long time. Crypto price is being controlled despite not being a centralized assset.

It is being controlled and it is starting to show that as well, and i think that this is why people were concerned about whales. If i am not mistaken this was even a concern for Elon Musk when he got involved with dogecoin and when he wanted the whales to forfeit their large holdings and then he said he would get behind it.

 

[Good-Person]

It is being controlled and it is starting to show that as well, and i think that this is why people were concerned about whales. If i am not mistaken this was even a concern for Elon Musk when he got involved with dogecoin and when he wanted the whales to forfeit their large holdings and then he said he would get behind it.

It is quite possible and I think that Elon Musk and some other investors invets in these coins and then praise these coins so that they earn profits and when they are done, they withdraw their investments and then start criticizing the coin, so that they can invest in coins once again. They continue this cylce to earn more from crypto coins. It is possible.

 

[jeff87]

There has been a lot of increases in the price of cryptocurrency lately, and I think that the two that are the most notable for me personally is the increase in Dogecoin and Bitcoin as well. These coins have increased drastically, with dogecoin even reaching the 0.1 USD mark in Australia and now trading at 0.08 USD. Bitcoin on the other hand, has increased to over the 45k mark, and continues to show a strong trend of reaching that 50k mark that I believed to previously be a pipeline dream that may only happen in the middle of the year.

This was all caused, in my opinion, by one person, i.e. Elon Musk. After his recent tweet of dogecoin and investment into Bitcoin, the prices of these coins have surged drastically, showing the effect and power than one person can have n the cryptocurrency market. As much as this is good, is this also dangerous in terms of the fact that the market can also go in the reverse direction if someone as powerful as this chooses to do so? What are your thoughts?

Yes you got it right. It was through Elon Musk that Bitcoin and dogecoin prices went up. It was through the Tesla company of Elon Musk which bought $1.5 billions worth of Bitcoin that triggered Bitcoin and other alternative coins to a bullish run.

 

[Kelly5]

No one individual can affect the price of any cryptocurrencies in my estimation. You can say that for cryptocurrencies that are as good as dead but not an active cryptocurrency

 

[Yusuf]

Wielding power in the crypto currency exchange Business as an individual is really not good at all and that is one of the major reason why people said the market needs to be regulated and that's true

 

[BrolySSJ]

Yes you got it right. It was through Elon Musk that Bitcoin and dogecoin prices went up. It was through the Tesla company of Elon Musk which bought $1.5 billions worth of Bitcoin that triggered Bitcoin and other alternative coins to a bullish run.

It was not just the purchase order that drove the price up but also the confidence that he portrayed in these coins when he started to accept it as a form of payment as well, and therefore many people gained that confidence in crypto that caused them to start investing in these coins.

 

[eLdavis]

The price increase daily, it’s really amazing to understand how this coins rise, that’s what Nigeria government don’t really understand,my advice for the government is that there is always a time for everything.

Nigeria government are just simply confused but they pretend like they know and understand what they are doing. This is their biggest weakness.

 

[BrolySSJ]

Nigeria government are just simply confused but they pretend like they know and understand what they are doing. This is their biggest weakness.

Hahaha this was very funny. If i have to be entirely honest with you, i think that this is the case when it comes to any government worldwide. What is sad to see is the amount of corruption that does go on at a government level as well.

 

[Chibson]

Elon musk AI has been very influential when it comes to cryptocurrency related issues lately. His tweets alone moves the market.

 

[BrolySSJ]

Elon musk AI has been very influential when it comes to cryptocurrency related issues lately. His tweets alone moves the market.

I think that because he is such a large economic factor in the world there are many people that take heed of his advice in investments and hence the control that he has.

 

[Nomad]

It is true that Elon Musk's tweets are helping dogecoin to gain value but this is not true with Bitcoin. Bitcoin does not need anyone's, support to gain value. It gains value as long as there is a demand in the market.