Tweet, trend, and trade: How Twitter buzz influences crypto prices
How does X (Twitter) impact Bitcoin price? We dive into the science behind the link between Twitter activity and crypto market movements to uncover the facts. Cryptocurrencies can quickly change in price, a characteristic that has both attracted and deterred investors over the years. Twitter and other social media play a significant role in shaping what people think about cryptocurrencies and influencing crypto market trends. Often, tweets from influential figures—industry leaders, tech visionaries, or financial moguls—hold the potential to either bolster or dampen the spirits of crypto investors. The ripple effect of these tweets can sometimes be observed in real time, with significant price shifts following closely on the heels of a notable tweet. Scientists have researched this phenomenon over the years, searching for data-backed insights into the correlation between Twitter activity and crypto market reactions and explaining how the mechanisms work. Let’s navigate focal hig...