Welcome to BeerMoneyForum.com - BIGGEST MAKE MONEY FORUM ONLINE

[aryan4]

A new study shows that Tesla and SpaceX CEO Elon Musk have a significant impact on the price of cryptocurrencies. According to an article published by Blockchain Research Lab on January 3, Elon Musk's random thoughts on Bitcoin (BTC) and Dogecoin (DOGE) had profound effects on the market. It is stated that, based on six Twitter events related to the cryptocurrency recently, quite significant abnormal trading volume was determined after each event.
What do you think about this topic?

 

[aryan4]

It is quite normal for the richest person in the world to have an influence on these coins by sharing such messages. I personally think this kind of behavior is not right. I think it causes the normal balance of the markets to be disrupted.

 

[BullyMaguire]

I mean the more your famous the person is the more impact they make just depends on their own professions. Like celebrities are famous to people who likes entertainment do when they introduced someone whose also quite entertaining it will go wild. Elon is the richest man on earth while being famous generally he is fsmous for entrepreneurs and investors trying to make it big aswell so when elon promotes Cryptocurrency they will follow his advice because for them he's like the most successful person what can go wrong

 

[sagefave]

I think Elon Musk's tweets are just that, status updates on social media. The fact that increases in prices in the cryptocurrency markets can be observed after his tweets, is only because he has a large following base, some of whom takes his tweets as predictions.

 

[sagefave]

I think Elon Musk's tweets are just that, status updates on social media. The fact that increases in prices in the cryptocurrency markets can be observed after his tweets, is only because he has a large following base, some of whom takes his tweets as predictions.

 

[Niftyicon]

It is quite normal for the richest person in the world to have an influence on these coins by sharing such messages. I personally think this kind of behavior is not right. I think it causes the normal balance of the markets to be disrupted.

I agree with you here. All he has to do is tweet something and the whole market just vibrates. He can easily tilt the market in his favour with such method.

 

[aryan4]

I agree with you here. All he has to do is tweet something and the whole market just vibrates. He can easily tilt the market in his favour with such method.

Whether we accept it or not, this is the current situation. As investors, we don't have much to do. I think we will witness this and similar kinds of news in the future, and we will see the effects on prices very often.