Bitcoin's Twitter-volume spikes to new all-time highs on Elon pump

Elon Musk has long teased his interest in Bitcoin, but his advocacy for the cryptocurrency was solidified today when he added #Bitcoin to his Twitter bio This change coincided with a massive green candle seen by BTC that sent it rocketing up to highs of nearly $39,000 this morning It remains unclear as to whether or not Elon purchased Bitcoin, but it has been speculated that he is the sole reason for the massive pump […]

A sudden reappearance by the Tesla and SpaceX CEO has only one focus: a meme-based altcoin now masquerading as the Lion King. Meme-based cryptocurrency Dogecoin (DOGE) gained 25% in minutes on Feb. 4 after a fresh endorsement from the world’s richest man. DOGE/USD 1-minute candle chart (Bittrex). Source: TradingViewDOGE in new "Elon pump"Data from Cointelegraph Markets and TradingView showed DOGE/USD rebound past $0.05 per token on Thursday, edging towards new all-time highs.Musk, who is known for name dropping Dogecoin and Bitcoin on Twitter but just days ago said that he was taking a....

After an evening of perusing the internets a post on reddit stuck out to me. “Bitcoin is being manipulated like other alt-coins” . The writer, mitchr4, goes on to explain that he is or has been an alt-coin trader for a while and has seen certain pump-and-dump patters emerge in the alt-coin industry. mitchr4 goes on draw parallels between the recent price spikes and downturns in the bitcoin market and the pump-and-dump nature of altcoins. mitchr4 goes on to explain how the pump and dump scheme works in bitcoin….

Dogecoin is ranked among the top 10 cryptocurrencies for the first time since 2015 after a meteoric pump believed to have been orchestrated by a Reddit group. For the first time since 2015, Dogecoin is once again gracing the list of top ten crypto assets by market cap.In less than two days, DOGE has surged 900% from $0.0078 to post a new all-time high of $0.078 — breaking its previous high of $0.0185 by more than four times. As a result, the veteran meme-coin currently ranks as the seventh-largest crypto asset with a market cap of more than 9 billion, sitting above Chainlink and below....

If researchers are correct, cryptocurrency holders should hope that Elon Musk doesn't get bored of Bitcoin anytime soon. The effect of celebrity tweets on the cryptocurrency market has become a topic of study for researchers after a week in which Elon Musk triggered sizable price surges for both Bitcoin (BTC) and Dogecoin (DOGE).Blockchain Research Lab published a paper on Jan. 3 titled, How Elon Musk’s Twitter activity moves cryptocurrency markets. The paper looks at six occasions when Elon Musk tweeted about cryptocurrency and attempts to measure the resultant impact on the trading....