One man makes a difference in Dogecoin and Bitcoin Prices

[btaliat]

There is much reasons why the prices of the two coins are different. Bitcoin is the first coin and have much people partaking in it unlike doge that is just a meme coin

 

[tuna89]

The digital world is expanding and one should expect more investments in crypto and simultaneously more boom in crypto values.

 

[BrolySSJ]

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.

Bitcoin is the face of cryptocurrency so that is why elon musk is not needed for the price to rise, however i believe that he still has quite a large influence on the bitcoin market given he can influence how peopel perceive the coin as well.

 

[Thinker009]

Elon musk have truly influenced the price both positively and negatively , because there was a time he was opposing Bitcoin mining without renewable energy it affected the price then

 

[Trexxxy]

True, but I don't think Elon affected the prices of Bitcoins. I think it is crazy that one man can affect and change the tide of the market. Prices of dogecoin were definitely affected.

 

[Dagm1]

That is typical. The costs of these coins are actually managed due to the activates of some occasions or even activities of private. The very best point is actually simply to use the chance when the cost is actually anticipated to become higher later on.

 

[Fortunate112]

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?

cryptocurrency, but this is a difference case entirely as Elon musk seems to be the richest man in the world, reason he could make such a huge difference in the cryptocurrency market. I'm glad I invested on doge coin and I prays it k

 

[Niftyyem]

The effect Elon Musk had on dogecoin was enormous in fact quite crazy to be honest and funny enough, I think the same could happen again even with the same person and same coin.

 

[Nomad]

I thing not just dogecoin and bitcoin, a lot of crypto currency are plugged by few men, mostly the big investors. IN recent time solana is rising rapidly, I suspect some whales are injecting a lot of money into this coin.

 

[BrolySSJ]

cryptocurrency, but this is a difference case entirely as Elon musk seems to be the richest man in the world, reason he could make such a huge difference in the cryptocurrency market. I'm glad I invested on doge coin and I prays it k

Surprisingly enough this is not a position that he is still holding as the price reduction in bitcoin seems to have dropped him down to the third richest man in the world.

 

[tyrim88]

With just a few tweets, Elon Musk has sparked a market run on a little-known cryptocurrency, Dogecoin.
Actually for a man with influence to determine the value of any of this coin as we just saw with Dogcoin and Elon's meme.

When it comes to the issue of cryptocurency,as it is a very volatile currency that trive on fluctuations and market forces,factors such as the involment of a wale investor can actually shore its price upward,and that was what elon musk just did.

Post automatically merged: Sep 25, 2021

The one man is not just your regular one man, he's actually the richest man in the world. Prior to now crypto had little followers in the rich men category. So it was refreshing to see the richest man in the world putting his weight behind two coins. And we can clearly see how big is influence is withe the way bitcoin and Doge coin has surged in the marketplace.

This is what you get when a big whale investor in no other person like elon musk is involve in any investment,definitely it will actually gain much attention,and there is no suprises in that,and we can see the steady increase in price.

 

[Ub40]

I don't really know anything about Elon Musk, but I have just been reading about him as the person who influences the price and value of Bitcoin because of his amount of his investment in Bitcoin. I can't say it is true or not because I don't have any evidence to proof until I do more research on it. Well, no knowledge is a waste, thanks for sharing your thoughts.

 

[Suba]

Although Elon Musk is very influential with his tweets, and his investment in Dogecoin and Bitcoin, because it can shake prices, because the price effect will depend on how much he buys or sells, and I don't think Elon Musk can drop the price drastically, because there are many other whales which holds both cryptos.

 

[Kelly5]

You may say that a single influenced a dying cryptocurrency like the Dogecoin. That doesn't mean he is the single person affecting the price of the Bitcoin as we see it because he is not

 

[Felixko]

The one man is not just any ordinary man he is the richest man in cryptocurrency. The differences between dogecoin and Bitcoin may include:
Bitcoin is more universally accepted as a legitimate form of currency than dogecoin.
Dogecoin is not bound by a finite supply. Bitcoin on the other hand is more valuable and stable.

 

[Setho]

It is very nice that influential people are beginning to lead people into cryptocurrency but then I do not like the way one person has so much power over the price.

 

[Blessedsam60]

Yes, Elon Musk actually boomed the Dogecoin and bitcoin world but at the long run, he retracted himself leading to the wreak of these coin

 

[Essy]

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?

It's not bees that whales, people who buy a lot of coins more than 1,000 BTC have influence over the market and I guess elon qualified for that leading to his influence.

 

[kayode10]

I think it is the speculation that makes the difference between the two coin. Everyone is scrambling for Dogecoin because they heard it from the news that one of the richest people want to invest in the coin.

 

[Setho]

Bitcoin and other cryptocurrencies were made in such a way that they were going to be decentralized and I do not like the way a single person has so much influence over the market.