One man makes a difference in Dogecoin and Bitcoin Prices

[Damscooguns73]

Concerning one man making a difference in Doge coin and Bitcoin prices. Well, we know Elon Musk which happens to be one of the richest man in the world if not the richest man to be one of the big whales when it come to cryptocurrency. His words and decision makes a change in the Market

 

[BrolySSJ]

Concerning one man making a difference in Doge coin and Bitcoin prices. Well, we know Elon Musk which happens to be one of the richest man in the world if not the richest man to be one of the big whales when it come to cryptocurrency. His words and decision makes a change in the Market

Yes this is true and many people look to him for this sort of financial advice which is why when he tweets about these things then it becomes the panic buying. Also he is currently the third richest i think.

 

[Sotherefore]

rich people like Elon musk have a lot of influence in the cryptospace since they are also a crypto investors and as a result of this any coin they are planning to buy is always going up because they will invest a huge sum of money but if they are planning to sell a particular coin like bitcoins the price of all other cryptocurrencies will come down, they are call whales.

 

[Alexandoy]

I have to agree that Elon Musk makes a big difference in the crypto market because aside from being the richest man he also has a lot of fans for his unconventional ideas of business and projects. Just take note that Musk is a "whale" who can buy in billions of dollars. That kind of purchase of Bitcoin has pushed the price upward. But for how long?

 

[richee84]

Elon musk has a impact in the increment of both dogecoin and bitcoin. He is the richest man on earth and so people will alway view whatever he say concerning any financial matter will be the best. His opinion and view are what people will like to follow.

 

[Kelly5]

I known that Elon Musk resent investments in the Dogecoin has affected the Dogecoin positively in pushing it's value upward in resent times. But I don't think it was his input that affected the Bitcoin

 

[BrolySSJ]

Elon musk has a impact in the increment of both dogecoin and bitcoin. He is the richest man on earth and so people will alway view whatever he say concerning any financial matter will be the best. His opinion and view are what people will like to follow.

It was true but he was the richest man but considering everything and how the cryptocurrency market has decreased quite substantially as well as the stock price of his company as well it seems that he's now sitting in the third position.

 

[Bookwormlux]

Elon musk effect is Also felt on different crypto currencies not only Bitcoin and Doge coin as the price of Bitcoin always affect the market for altcoins always. So it's not good to rely on these coins simply because Elon musk is supporting them.

 

[BrolySSJ]

Elon musk effect is Also felt on different crypto currencies not only Bitcoin and Doge coin as the price of Bitcoin always affect the market for altcoins always. So it's not good to rely on these coins simply because Elon musk is supporting them.

When a crypto actually has such a good backing though especially when it is by one of the richest men in teh world that should actually give you more confidence and reason to invest in the coin.

 

[Bookwormlux]

When a crypto actually has such a good backing though especially when it is by one of the richest men in teh world that should actually give you more confidence and reason to invest in the coin.

He has finally dumped Bitcoin this month, though I can't tell for Doge Coin, but I just hope he will accept DOGE COIN so that those of us holding it can make some profits.

 

[BrolySSJ]

He has finally dumped Bitcoin this month, though I can't tell for Doge Coin, but I just hope he will accept DOGE COIN so that those of us holding it can make some profits.

Dogecoin will always have his acceptance as he is now taking active roles in teh coin and its way forward for the future. I think that this will grow in price however the risk is very high nevertheless.

 

[Sotherefore]

Most of these people are always trying to manipulate the market for their own advantages that is why I have been saying dogecoin is not a good investment because the richest man who is the one that is hyping this cryptocurrency can decide to withdraw all his money from it and the whole market of the coin will collapse.

 

[Senator]

To be very frank with the State of things surrounding the cryptocurrencies market of today, I don't agree that one man is capable of making that effect on cryptocurrency like bitcoin. I don't agree

 

[BrolySSJ]

Most of these people are always trying to manipulate the market for their own advantages that is why I have been saying dogecoin is not a good investment because the richest man who is the one that is hyping this cryptocurrency can decide to withdraw all his money from it and the whole market of the coin will collapse.

In this light i do understand your concerns and it could just be that there is manipulation for large whales to profit and those that will bear the loss will be the smaller investors who got into teh market late.

 

[Sotherefore]

In this light i do understand your concerns and it could just be that there is manipulation for large whales to profit and those that will bear the loss will be the smaller investors who got into teh market late.

big investors are the ones that are going to make profit on what is happening now because they are all widraw their money and they're waiting for the perfect dip so they can buy it again.Is just a matter of few weeks everything will return back to normal.

 

[cowantussie]

When Satoshi Nakamoto released the Bitcoin whitepaper 11 years ago, it was the first time a viable digital currency was created. Unlike its predecessors, Bitcoin’s anonymous creator was able to overcome the double-spend issue that had plagued earlier attempts at creating a digital currency. Double spend is a term that refers to a hacking strategy in which an individual will make a payment, and before the payment is processed, resend the same coins to another party. Obviously, being able to send the same coins to different people would make any monetary system collapse. Nakamoto overcame this issue through the integration of a timestamp within the hashing algorithm.

 

[tyrim88]

The involvement of an authority figure who has made a mark in his field,can shure up the prices of any investment they involve themself in,and that is what has happened in the cryptocurency world,and the speculation of a good return on investment will drive investors towards the cryptocurrency market

 

[Haveit]

Oh well, months after and prices of crypto currencies have fallen to a great extent infact one can say like never before. So it's important to note that it's not just one man factor.

 

[Justin]

The price might fluctuate temporarily when some influencers say some thing or do something, for that is only for the brief time. The price is determined by the market

 

[Shigobad2020]

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?

I believe money can influence the price of every single thing in the world, for example elon musk investing in dogecoin and after that the price of dogecoin and bitcoin skyrocketing.

Post automatically merged: Jun 21, 2021

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?

I believe money can influence the price of every single thing in the world, for example elon musk investing in dogecoin and after that the price of dogecoin and bitcoin skyrocketing.