Bitcoin’s Musk effect: Research shows how Elon moves cryptocurrency prices
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....
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