One man makes a difference in Dogecoin and Bitcoin Prices

[Grandeur]

It's pretty amazing how one man can have effect in the crypto market, Elon musk had a lot of influenced in the crypto market, he started a bull run and rumour has it he started this bear run too

 

[BrolySSJ]

Elon musk is simply that one man who is dominating the Cryptocurrency industry with his speeches and tweets. He has also brought popularity to the coins which have led to more adoption.

The reason I think for such dominance is the fact that he is considered to be one of the wealthiest guys in the world. In order to attain such a title you have to have very good understanding when it comes to the investment world because it shows that to a large extent you are successful in your ventures, and as a result people place a lot of weight on his thoughts and opinions when it comes to making an investment decision. However, having a single person control the cryptocurrency market is also very worrying as this can result in market collapse if they drop their support as we saw earlier with the market crash.

 

[Sincerem]

The reason I think for such dominance is the fact that he is considered to be one of the wealthiest guys in the world. In order to attain such a title you have to have very good understanding when it comes to the investment world because it shows that to a large extent you are successful in your ventures, and as a result people place a lot of weight on his thoughts and opinions when it comes to making an investment decision. However, having a single person control the cryptocurrency market is also very worrying as this can result in market collapse if they drop their support as we saw earlier with the market crash.

Its wrong to see only one man controlling the market. But we can see recently that the Cryptocurrency market is bigger than Elon musk. The ongoing bearish run isn't constituted alon by Elon, other force is behind it.

 

[BrolySSJ]

Its wrong to see only one man controlling the market. But we can see recently that the Cryptocurrency market is bigger than Elon musk. The ongoing bearish run isn't constituted alon by Elon, other force is behind it.

I agree with you in the sense that we can't only focus our attention on one person, however at the same time we can't deny the effect that one person can have. For example, say that Elon Musk has to make a statement that prompts many other companies to invest in crypto. Whilst this company can affect and influence other investors the root cause of their investment may stem from Elon Musk. This will in turn bring it back to him in this way showing large potential power. The recent bull run was a result of the comments of him and Jack Dorsey in their online event and so indirectly they are making large differences as individuals.

 

[Sincerem]

I agree with you in the sense that we can't only focus our attention on one person, however at the same time we can't deny the effect that one person can have. For example, say that Elon Musk has to make a statement that prompts many other companies to invest in crypto. Whilst this company can affect and influence other investors the root cause of their investment may stem from Elon Musk. This will in turn bring it back to him in this way showing large potential power. The recent bull run was a result of the comments of him and Jack Dorsey in their online event and so indirectly they are making large differences as individuals.

Elon musk and that Twitter owner jack dorsey are simply in partnership to always raise alarm concerning Cryptocurrency rise and fall. Everything Elon musk is heading over to twitter to tweet comments around Cryptocurrency.

 

[Bookwormlux]

With this, I think another influential billionaire can come and pump the price of other cryptocurrencies that are not having much value at the moment.

 

[BrolySSJ]

Elon musk and that Twitter owner jack dorsey are simply in partnership to always raise alarm concerning Cryptocurrency rise and fall. Everything Elon musk is heading over to twitter to tweet comments around Cryptocurrency.

This is actually very interesting and i did not actually think that there was a link between the two of them until you mentioned it here. Even in recent statement Jack Dorsey says that bitcoin and crypto will be the key for future development in Twitter, which would benefit both him and Elon Musk as well.

 

[kayode10]

There are some other people who can also affect the price of cryptocurrency in the world. If a person like Jeff bezos of Amazon decided to invest in doggy coin the price will definitely shoot up.

 

[HayKay]

This is why I feel crypto would never replace currencies of the world. Not only are they volatile but also susceptible, I mean how does an individual tweets and then prices change drastically? One person isn't supposed to have so much power over any currency

 

[Shigobad2020]

Elon Musk is one of the richest men on the planet. This makes him very influential. If he says he will invest a billion dollars in bitcoin, it will influence millions of investors who look up to him and there will be a surge in bitcoin price. The same thing happens to dogecoin.

Elon musk, the world richest man has been a heavy investor and manipulator and has invested heaviky in bitcoin and also dogecoin thereby making the price go up , he has been ininfluential in nvesting in crypto currency.

 

[gammarays]

I think every product needs a hype at a certain time to propel it. I think Elon has made his mark on crypto. Though he helped in shilling Bitcoin, he's not the only major investor. That's the opposite for dogecoin where his popularity is what makes the coin stand.

 

[Lens]

Elon musk is a force to reckon with in the world of cryptocurrency. His influence on all the cryptocurrencies can not be wavered. He is fond of making funny tweets . These tweets have either positive or negative impact on the market. He was accused by the investors for making jokes of their investment.

 

[Sincerem]

This is actually very interesting and i did not actually think that there was a link between the two of them until you mentioned it here. Even in recent statement Jack Dorsey says that bitcoin and crypto will be the key for future development in Twitter, which would benefit both him and Elon Musk as well.

Yes, they're two have strong bound, you can read it at google you'll get to know the connection they have. They are into partnership to earn handsomely around Cryptocurrency, that's why they keep promoting it.

 

[BrolySSJ]

Yes, they're two have strong bound, you can read it at google you'll get to know the connection they have. They are into partnership to earn handsomely around Cryptocurrency, that's why they keep promoting it.

If the two of them have formed a partnership then I think it will actually reduce the amount of people that are going to get into cryptocurrency because it actually shows how easily influenced and manipulative cryptocurrency can actually be. And at the end of the day things people will be looking to profit as much as possible and this can generally be at the expense of other investors.

 

[Kelly5]

Unpopular coins like this Dogecoin that has remained very dormant for too long might be influenced by one single man's investment, but you can't say that about Bitcoin

 

[BrolySSJ]

Unpopular coins like this Dogecoin that has remained very dormant for too long might be influenced by one single man's investment, but you can't say that about Bitcoin

When it comes to a coin such as bitcoin there is a lot of companies that are actually invested in it to a large extent and as a result it is less influenced by a single person. However there are major companies that are able to have a large influence on it such as PayPal. If we look at how the price of Bitcoin increased when PayPal decided to accept Bitcoin within their payment infrastructure it shows that they have a large manipulative pull when it comes to this currency.

 

[mcjerry]

This has never happened before. It is true that news is one way that determine the rise and fall of a coin. And Ellon musk appreciating crypto currency is another good news to determine the growth of the coin. But in history I have not heard it before. Now it is unfortunate that dogecoin price as really came down.

 

[Sincerem]

If the two of them have formed a partnership then I think it will actually reduce the amount of people that are going to get into cryptocurrency because it actually shows how easily influenced and manipulative cryptocurrency can actually be. And at the end of the day things people will be looking to profit as much as possible and this can generally be at the expense of other investors.

Laughs. That's for sure, it will easily influence how the Cryptocurrency market looks like. And again it will discourage people from going into it.

 

[akinlolu99]

Yes one man can, the major thing is how the market moves take what happened some time ago with the situation that surrounded Elon Musk that was the one man Trigger and obviously the whole world felt his impact with the way the price jumped rapidly so yes one man can make a difference in fact in the twinkle of an eye.

 

[Chibson]

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.