There is an ongoing hype related to the market of cryptocurrencies. Since the introduction of the first blockchain that is the background of the most popular digital coin, Bitcoin, we could find many articles on the positive and negative sides of this market. In the first few years, only a small group of people was actively investing and mining. On the other hand, things started to change after 2015, when the price of this digital currency was only around $400. However, the value started to increase during 2016 and 2017.
The year 2017 was crucial. That was the point where the whole world heard about cryptocurrencies. During that time, there was a first record-high value of around $20,000. However, since the demand and offer are very important factors, and because most people were interested in selling rather than investing, the price started to fall, and it remains under $10,000 for a couple of years. Moreover, the lockdown measures caused by the pandemic in 2020 made people more interested in this market again, which led to huge increase in price.
Furthermore, frequent changes in prices on this represents the main reason why investors are interested in it in the first place. Due to the high volatility that can be seen every day, traders can make a profit on such changes if they manage to determine the right moment to buy and sell cryptocurrencies. If you are interested in investing in Bitcoin and other popular cryptocurrencies, check out BitcoinOptimizer.
When it comes to the factors that are affecting this market, we can notice that predictions from experts and people who are active for a long time can have a significant influence on it. Therefore, it is not a surprise that many people would follow the profiles of these people on social media and listen to their advice and instructions about the actions that might help them to make a profit. Here are the most popular influencers on this market.
Erik Voorhees
He is one of those who started being active on this market since Bitcoin got introduced. He is the founder of Bit Instant, which is a platform that is promoting trading with Bitcoin. Besides that, he also of the main people in ShapeShift and Coinapult. The main reason why you should follow this guy is that he is sharing his experience from the beginning, and you can learn more about the right selection of trading platforms, digital wallets, and websites where you can check the analyses of this market to make the better choices when it comes to investing.
Tim Draper
The main issue with this market is that a lot of people have heard about BTC, ETH, and other popular units, but they are not sure what they represent and how the system behind them works in practice. Most people will expect to simply buy some cryptocurrencies and wait for them to gain more value. However, things are much more complicated than that. Therefore, you should start following Tim Draper since he is often sharing valuable information that can help people to understand the factors that affecting cryptocurrencies along with their technical features.
Brian Armstrong
The main reason why this person on this list is because Brian is the founder of Coinbase, which is one of the biggest platforms for trading with cryptocurrencies today. He has a significant role and the ability to influence the market by determining fees for transactions, or accepting and refusing to allow particular cryptocurrencies on his website. Also, his social media profiles are always full of interesting facts and important information about this market.
Vitalik Buterin
Vitalik has more than 1 million followers on social media. He is one of the people who are active in this market for more than 10 years. He is the founder of Bitcoin magazine, which is a website where you can learn more about technical specs of cryptocurrencies, economic factors that could affect the prices, and much more.
Elon Musk
A lot of people might be surprised to see Musk on this list since he was not so involved in this market in recent years. Also, he is one of those who were suspicious and even trying to mock how there is no potential for Bitcoin and other digital assets to ever become stable enough. However, things started to change in 2020, when Elon Musk suddenly started to change his opinion. Before that, his only activity in this market was related to the introduction of Dogecoin, that was supposed to be a fun way for him to show that this whole market cannot be sustainable.
However, when the price of Bitcoin started to rise at the beginning of 2021, he suddenly became interested. While other people in this list might represent a much better option if you want to follow someone and learn more about trading and which options are the best. Still, Elon managed to have a huge influence only by sharing a single post on his Twitter account.
With a single share on his feed, the price raised for $10,000. After that, his company Tesla said that they invested $1.5 billion in Bitcoin and that they might start accepting is as standard way of payment. That was the point after which the price surged to over $60,000 in short time.
Moreover, the best example of his huge influence on the market was seen at the moment when Tesla gave up from the idea to accept payments in BTC. That lead to significant drop in value, which is now around $33,000.
In that matter, even though Elon is not one of the people who are actively trading on the market of cryptocurrencies, he is the richest person in the world, and someone who has huge influence in tech industry. Also, he has a lot of followers who will listen to his advices related to modern technologies and investments with good potential.
Last Words
While Elon and other billionaires might have the power to influence this market to some point, we suggest you to follow the people who can introduce you with main features and real potential of them. According to many experts in this field, the value of Bitcoin will continue to rise, and might even reach the value of over $100,000 in next few years.
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