Crypto influencers: who are they and what do they do with cryptocurrency?
Crypto influencers today strongly influence the prices of the cryptocurrency market.
The cryptocurrency market, like any other, is interconnected with many other elements on the global world stage. The price of this or that asset can directly depend both on the events taking place in the world and on the opinion of key persons and bodies in this direction.
Crypto influencers are a separate topic that should be paid attention to when analyzing the crypto market.
Who are crypto influencers?
Crypto influencers are any well-known individuals, companies, organizations, or even states that in any way influence the price of cryptocurrencies through their official statements or appeals. Also, crypto influencers are individuals or legal entities that have deep knowledge of the market and can predict its movements.
Therefore, we can say that crypto influencers are divided into 2 types. The first are professionals who give their forecasts for growth or decline, and popular personalities, as well as organizations, states, whose opinions people listen to.
Permanent and non-permanent crypto influencers
Crypto influencers can be permanent and single. The permanent ones include persons or organizations that are directly related to the world of cryptocurrencies, or somehow interact with it and make public announcements.
For example, Elon Musk, who is well versed in the topic of crypto-currencies and makes statements about this or that crypto-currency on his Twitter. It can also be popular cryptocurrency exchanges (Binance), states that have adopted bitcoin (El Salvador). If they share their opinion regarding a particular cryptocurrency or the market in general, this can affect the price of digital assets.
The single ones include one-time public statements from states, companies, financial institutions. However, it is difficult to call them influencers in full. At the same time, having great popularity and influence on the world stage, their statements can greatly affect the course of cryptocurrencies.
Positive and negative news
In essence, crypto influencers are simply opinions or events that influence the crypto market. This influence can be both positive and negative. For example, Elon Musk often posts his opinion on Dogecoin on his Twitter.
If it is positive, as a rule, everyone runs to buy it, and the price rises. In September 2021, China banned mining and cryptocurrency in its territory. After the public announcement, the price of bitcoin and the entire crypto market went down.
Why is it important?
If you choose a certain number of influencers for yourself and follow their posts and public announcements, then you can understand where the market can go. However, everything will depend on the importance of the influencer and the scale of the news itself