Alright, here’s one little advice; step away from crypto twitter…a bit. Don’t get it twisted, twitter is like the most active media for cryptocurrency enthusiasts; well, pretty much everything reasonable these days. Well marketed enthusiasts manage to gain enormous followership on the blue-themed social media application. From enthusiasts or contributors to ‘influencers’. Yeah; influencers in the real sense, meme tokens gain thousands of members and investors by simply getting these ‘famous’ contributors to make single or regular tweets about them. This goes a long way to show just how influential these ‘big’ crypto accounts could be.
Hey, before going further, have you Followed us on Twitter?
‘Bitcoin will go to $100,000 before end of year, screenshot this!’ no, not this article! …just an influencer’s tweet. Not sure I did screenshot any of such tweets, I really should have…many of them gets deleted a few days later. Can’t really say why these tweets disappear; twitter’s algorithm puts out tweets from time to time for different reasons; making wrong predictions aren’t one of them, luckily. Influencers whose predictions fail to go the way they claimed would swiftly delete them before followers come back to them. The internet has a very short memory anyways.
Influencers predict heaven and doom, sometimes in quick succession. 5% up and the bearish speculators chicken out while the bullish speculators run the day. Posting ridiculous price targets, (like SHIB to $0.1) these optimistic influencers win the heart of expectant holders with estimations of how much their holdings could be worth in a short while. The ‘lambo’ army certainly love these set of influencers while the others get the heat for their own predictions. 5% down and the reverse becomes the case, bullish predictions suddenly disappear while the bears surface again and spread fear across the whole space.
These actions are worth more than appear to be, they contribute tangibly to cryptocurrency’s dreaded volatility. The crypto space would effortlessly respond to a tweet by Elon Musk, super influencer, this one! Other influencers wield relative influence on price movements. Cryptocurrency despite reaching convincing levels in efficiency and adoption is still an emerging system. While many enthusiasts have tuned evangelists, there are still few staunch believers who sincerely hold on to their investments during turbulent times. Most traders and holders react to tweets and contents from these influencers and this contribute to the volatility which characterize cryptocurrency.
While these meddle with price of cryptocurrencies and the attitude of holders and traders, cryptocurrency itself is in fact FINE. Bearish talks or bullish talks, blockchain blocks keeps getting confirmed as transactions continue to run regardless of whatever the investors and influencers do with their resources.
China ban, end of the bull cycle, start of the bear cycle, end of year predictions…these talks only do enough to keep the cryptocurrency communities engaged and as well keep the exchanges busy, a very important role to be fair, but in essence, cryptocurrency is fine. The world is fast embracing these solutions and are paying only little attention to the price or what the influencers say.
The influenced pumps and dumps come and go, but organic growth continue after that. These growths are fueled by people realizing just how important decentralized solutions could be in the not very far future. Blowing up every single news (positive and negative ones alike) has helped in the ‘price game’ but at the other side of these things, cryptocurrency continue its journey to global domination.
A wider adoption and use will eventually mitigate the extent to which these influenced actions control things in the crypto space, especially where it concerns price. FUDs and Bloated information could make or mar a cryptocurrency project or idea. Influencers are at the helm of these events. It’s tough to get everyone to use their influence correctly, but it is these differences that make things even more exciting!
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