Cryptocoins burning market

[jrrsparkles]

Ripple is a dying coin so don't consider it as good for investment now and apart from that all other currencies maybe profitable but involves certain risks so if you can invest the money which is affordable for you then you can reap profits. Don't forget that it may take years to reach new all time high if we enters into bear market now.

[Mpamaegbu]

Your title is misleading. For a second I thought it was about token burning (as in excess tokens get burnt to reduce supply and increase scarcity. But obviously you went the other way. The truth remains that tokens with utility are expected to do very well this year whether anyone tweets about them or not. Don't get me wrong here, please. I ain't saying there aren't influences in token price movement after he tweeted. Of course, what Elon Musk did could've prompted Bitcoin to spike on the said day no doubt. But whether he said it or not on that day, Bitcoin would still have risen to where it is currently today.

[CarnagexD]

I find the title confusing me, I don't even understand the connection between burning and the context of your post. Nevertheless I doubt that the pump thwt happened was only because Elon became vocal on his support of bitcoin. I am confident this timed well with a pumping season which caused bitcoin to rise up in value, sure his posts may invite more people to invest on bitciin but I doubt it's going to be enough as to cause a dent to the current price.

Your title is misleading. For a second I thought it was about token burning (as in excess tokens get burnt to reduce supply and increase scarcity. But obviously you went the other way. The truth remains that tokens with utility are expected to do very well this year whether anyone tweets about them or not. Don't get me wrong here, please. I ain't saying there aren't influences in token price movement after he tweeted. Of course, what Elon Musk did could've prompted Bitcoin to spike on the said day no doubt. But whether he said it or not on that day, Bitcoin would still have risen to where it is currently today.

I thought so too lmao, got confused there for a second thinking major coins in the market are going to burn tokens

[AndySt]

I find the title confusing me, I don't even understand the connection between burning and the context of your post. Nevertheless I doubt that the pump thwt happened was only because Elon became vocal on his support of bitcoin. I am confident this timed well with a pumping season which caused bitcoin to rise up in value, sure his posts may invite more people to invest on bitciin but I doubt it's going to be enough as to cause a dent to the current price.

Your title is misleading. For a second I thought it was about token burning (as in excess tokens get burnt to reduce supply and increase scarcity. But obviously you went the other way. The truth remains that tokens with utility are expected to do very well this year whether anyone tweets about them or not. Don't get me wrong here, please. I ain't saying there aren't influences in token price movement after he tweeted. Of course, what Elon Musk did could've prompted Bitcoin to spike on the said day no doubt. But whether he said it or not on that day, Bitcoin would still have risen to where it is currently today.

I thought so too lmao, got confused there for a second thinking major coins in the market are going to burn tokens

It's just that the person wanted to say something more colorful and brighter and therefore unwittingly misled you Don't underestimate the power and impact of Elon Musk's tweets, but don't overestimate them either. If you think sensibly, then investors in the market will be much more influenced by Musk's tweets directly related to the production activities of his enterprises, than his tweets about cryptocurrencies, which do not contain any information at all and the subsequent reaction of the market looks like a kind of flash mob.

[k@suy]

Elon musk just change his twitter status & it Bitcoin raises unto almost $7000

Not just Bitcoin in recent days, Today is ripple is on fire, week ago Dodge coin & many like this.

Start investing in crypto currency, No government can stop this. This market is on Fire....🔥🔥🔥🔥🔥

it is good to go with the flow but do not let FOMO be in your way, a sudden pump can make a sudden dump too so be careful not to be left at the top and will not be able to sell. Do your own trading plan I think, news can be beneficial and it can affect the price so much and coming from a well known person can make it pumps but as I said always, only  invest what you are afford to lose do not get a high hopes learn to manage your risk and your money well.

[AakZaki]

This is true, But we can't deny the fact that the existence of Elon musk and his shillings have affected the prices and it introduced cryptocurrency to others. Just bear the Elon Musk hype right now, It will fade as time goes by like what happened to McAffee in the past few years.

But Elon Musk has more power and he is also the number 1 richest person in the world. His followers even reached 45 million and of course very different from John McAfee. It was proven last week and today Elon Musk made DOGE experience a tremendous increase with his status on twitter.

[Casdinyard]

This industry is probably aiming for a huge  leap when it comes on usage as a medium of transaction. More businesses, enthusiasts, and normal people are just having the idea that this technology should be trusted for a reason. I'm not sure if that is the reason why the market price of some coins are still having uprise movement even if ATH have been reached and correction(not sure by the way) have already occurred. Maybe, this technology or industry in general is just being stronger to resist corrections in its market prices. To invest or not will now depend on the investor's speculation. Prices are still high so it won't be surprising to know that there are still people who are hesitating.

[Cynthiajia0]

An illegal tool for plundering wealth. Catch a few consortiums and huyou team members who are operating behind the scenes, so that everyone truly knows that it is costly to make money without labor and huyou.

This is the funniest joke I heard from opponents of Bitcoin before. In fact, the cryptocurrency is no longer blocked.

[bits4books]

Are you the first day on the internet? Or is this the first time you've ever seen charts on the market?
Yes, every year something like this happens that you really were born yesterday, drop it. As it rose by 7k, so it will fall. As the DOGE took off, so it will roll back, just fix it a little higher. You take the ordinary movements of a super-volatile market for a miracle. And when everything starts to fall sharply, then people like you catch FUD and run to sell everything in general, the main thing is to "earn something" and then tell everyone around what cryptocurrencies are stupid and that this is a useless bubble.

[doomloop]

Elon musk just change his twitter status & it Bitcoin raises unto almost $7000

Not just Bitcoin in recent days, Today is ripple is on fire, week ago Dodge coin & many like this.

Start investing in crypto currency, No government can stop this. This market is on Fire....🔥🔥🔥🔥🔥

I woke up yesterday with a news that my government decided to ban cryptocurrency, and this is something I saw when I logged on twitter and it was trending, I started regretting why I went on twitter lol.

But anyway, I am not going to give up on cryptocurrency and that’s the same with my friends that are into this field, everybody is now looking for means that they will still continue their cryptocurrency business and it’s definitely working. No giving up at this time. Cryptocurrency really changed my life when I used it the right way, especially Bitcoin, so I don’t think anyone is going to be able to talk me out from it, I am in full-time.

[Dragonfund]

I woke up yesterday with a news that my government decided to ban cryptocurrency, and this is something I saw when I logged on twitter and it was trending, I started regretting why I went on twitter lol.

But anyway, I am not going to give up on cryptocurrency and that’s the same with my friends that are into this field, everybody is now looking for means that they will still continue their cryptocurrency business and it’s definitely working. No giving up at this time. Cryptocurrency really changed my life when I used it the right way, especially Bitcoin, so I don’t think anyone is going to be able to talk me out from it, I am in full-time.

He is right about government ban. No government can ban crypto, it's all about the individual and how he handle his wallet. I may own a $20,000 worth of bitcoin and save it in any hardware wallet and no one will ever know that I held that can of fund with my self secured unless they stole it and of course, I wouldn't let even my family comes near it talk less of a friend.
About changing or liquidating for Fiat6, p2p platforms has increased since the news broke about the ban, in fact this one of the reason why p2p market should boom this year.
Most of our life revolve round crypto currency, I wonder why the useless government would want to interfere in it's citizens interest despite when they clearly know about the risk.

[wxa7115]

I don't understand how people can believe that if the price of Bitcoin went up it was caused by E. Musk who changed his bio.
It's completely absurd to me, and the whole world doesn't have a Twitter account, and the whole world isn't a sheep. People really believe anything about the media.

I can't imagine if POTUS will ever do the same   Also what increase are we talking about? 4-5%? wow super!

Nobody uses ripple BTW. Only bots

People for the most part are going to try to make sense of the world we are in even if the explanation does not makes sense, this is how superstitions are born, for example thousands of years ago humans believed that if they made certain dances this could increase the chances of rain coming, now we know this is not true as we now have more information about how that cycle works and no one is out there dancing trying to bring rain.

And something similar happens to the markets, most people do not really understand how they work so they look for alternative explanations for the movements and in this case it seems they are attributing to Elon Musk the movements we are seeing despite the fact this does not make sense.

[Janation]

It's been on fire for the past years, people are not just considering how great will it be.

There are a lot of altcoins in the past that generated a lot of profits to investors, as time pass by, these projects, ICO, Defi, started to rot, and now just looking at the way of the main players such as Bitcoin, Ethereum, etc. IF they want to invest, they should keep that fire and not just be a bandwagon because they are seeing the price like this.

[Reid]

I hope that is just not the reason for the sudden pump.
Or, we won't expect anything anymore but just waiting for those popular guys to say something about cryptocurrencies.

It should always be about the demand and a good feature of a project.
Not because of a hype made by someone because it sounds fake. Therefore, we might lose more small investors that rely upon the future.

[darewaller]

I hope that is just not the reason for the sudden pump.
Or, we won't expect anything anymore but just waiting for those popular guys to say something about cryptocurrencies.

It should always be about the demand and a good feature of a project.
Not because of a hype made by someone because it sounds fake. Therefore, we might lose more small investors that rely upon the future.

Well some famous people saying something is also demand, we do not have to wait for them in order to go up each time, but it is also not a bad thing neither, it is basically "another reason" and that's it. Think about all the times we have seen names of big corporations buying bitcoin that made others buy bitcoin as well and increase the price, grayscale bought a lot of bitcoin and that impacted other people to buy as well and increased the price, or maybe there was some bad news and price went down.

This is pure speculation and it always existed, way before Elon musk, way before anyone else, it was always there and it was always available for people. I personally think that the best way to approach this situation would be not ignoring it, but also not thinking this is any bigger than major news that impacts the crypto world because that's all it is.