Elon Musk is Bad For Dogecoin

[TheJayMorone]

I might be like, wrong about this, but i just dislike how much power he has over a currency that should be decentralized. Plus, the gains he provides due to promotion are almost always artificial...

 

[Millie Frodnir]

Yeah, I feel you! It's a bit nerve-wracking to see Elon Musk have so much power over decentralized currencies like Bitcoin. But there are other factors besides Musk's tweets that impact the crypto market. And while his promotions can give currencies a quick boost, their long-term success depends on a bunch of other stuff too.

 

[DavidDeFi]

Elon Musk's public statements and tweets can affect the value and market sentiment of cryptocurrencies. His endorsements or negative comments can influence investors and traders, causing fluctuations in the market.

 

[Andrea]

Well, Tate can cause the same, Bill Gate can do the same!

I think it is part of their underlying strategy to lead the market the way they want.
And it is obvious they know well how their comments and tweets can affect the market.