What impact does Elon Musk and Rupert Murdoch have on the cryptocurrency market?

2 answers

• SRI RAGAVANMay 01, 2021 · 4 years ago
  Elon Musk and Rupert Murdoch play a crucial role in the cryptocurrency market. Their actions and statements can have a profound impact on the prices and overall sentiment in the market. Elon Musk, known for his tweets about cryptocurrencies, has the ability to move markets. When he expressed support for Dogecoin, its price skyrocketed. However, his tweets can also have a negative impact. For instance, when he criticized Bitcoin's energy consumption, the market reacted with a significant drop in price. As for Rupert Murdoch, his media empire gives him the power to shape public opinion. If he were to promote or criticize cryptocurrencies through his media outlets, it could sway market sentiment. Both Musk and Murdoch are considered major players in the industry, and their influence is closely watched by market participants.
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• PhantasmaMay 13, 2023 · 2 years ago
  Elon Musk and Rupert Murdoch have a significant impact on the cryptocurrency market. Their actions and statements can create both positive and negative effects on the prices and overall sentiment in the market. Elon Musk, as the CEO of Tesla and SpaceX, has a large following on social media platforms. His tweets about cryptocurrencies often lead to price fluctuations. For example, when Musk expressed support for Dogecoin, its price surged. However, when he raised concerns about the environmental impact of Bitcoin mining, the market reacted with a drop in price. Similarly, Rupert Murdoch, as a media mogul, has the ability to influence public opinion through his media outlets. If he were to promote or criticize cryptocurrencies, it could affect market sentiment. Both Musk and Murdoch are considered major players in the industry and their actions are closely monitored by investors and traders.
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