These were the 5 hottest coins on Twitter last week — And their price dynamics
Data shows that spikes in Twitter mentions preceded price peaks in three of last week’s five most discussed altcoins. Crypto Twitter is a powerful place. Not only does the online discussion follow the ups and downs of digital assets, but it can also shape price action. Oftentimes, a spike in Twitter attention can anticipate a dramatic increase in an asset’s price. Yet, in other cases, the order can be reversed, or there may be no relationship between price and Twitter chatter at all.To harness the power of Twitter and use it as a tool for profit generation, crypto traders need two things:....
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Elon Musk doesn't have a monopoly on Twitter chatter, as these five cryptocurrency flavors-of-the-month proved in May. In the realm of digital assets, Crypto Twitter is a major seat of power. Memecoins and serious large-cap assets alike can see their value rise or fall depending on whether the whimsical Twitter crowd decides to pay attention. Huge rallies and dramatic declines often trigger waves of Fear, Uncertainty and Doubt (FUD) or Fear of Missing Out (FOMO) on the platform, capable of massively amplifying the unfolding price dynamics.Granted, it would be convenient if increases in....
The facility owner Dynamics Mining publicly took to Twitter to share the letter terminating its hosting agreement with Compass Mining, saying it had unpaid bills. Bitcoin (BTC) mining hardware and hosting company Compass Mining has lost one of its Maine-based hosting facilities after the owner, Dynamics Mining, terminated the hosting agreement between the two, claiming Compass failed to pay the required bills.Dynamics posted on Twitter late on June 26 a letter it sent to Compass Mining which stated as of June 14th, the hosting contract between the two was terminated. Dynamics alleged....
In some cases, unusually high tweet volume can signal that an asset is about to soar, but traders should mind the context. On Crypto Twitter, a surge of attention directed at a coin often comes in response to dramatic price action. Quite naturally, rallying assets attract the attention of traders and take over Twitter conversations, which can also create positive feedback loops that further prop up the momentum.This is exactly what happened with some of the coins that saw a greater increase in average daily tweet volume this month, compared with the last. KuCoin Shares (KCS), which went up....
Power Dynamics are comprised of three elements - Authority, Information & Money. The three elements of power dynamics just mentioned are often interrelated. Achieving any one of the three brings the other two closer. The President has authority. The Governments have information. Google has information and hence money. Richard Branson and Mark Cuban have money, hence authority. It is often interesting to see the world through the power dynamics lens. For the reader willing to develop the skill of Power Spotting, here is a video I recommend. The power dynamics have been institutionalised,....
Over the past week, Bitcoin price showed us a mixed trend and movements. At the beginning of the week it rose even higher than $465. Then on December 22, we saw a sharp decline in price to $425 and a fast rebound to $432. The next day the BTC to USD exchange rate was in the corridor of $430 - $440. On Christmas Eve Bitcoin has strengthened its positions during the Asian session and moved to a level of $452, and even managed to spend the whole day confined between $455 -$449. On December 25, we have again seen a slight decrease to $446 and then $ 442. Thus, this week the price of Bitcoin....