How do Social Media Influencers Impact Cryptocurrency?

 A recent study on how Elon Musk's and Michael Saylor's tweets found that YouTube social media influencers impact cryptocurrency prices.


CoinTelegraph wrote:

Rise of YouTube influencers

The report also highlighted the growing impact of YouTubers on the cryptocurrency market. "Just as influencers are well known to stimulate engagement in the consumer product and fashion industries, popular social media personalities do the same with crypto assets and protocols for both users, traders and investors," the researchers said. 

In particular, the report singled out Bitboy Crypto, a channel with over 1.1 million followers, as having one of the most engaged audiences in the industry. Channels like Coin Bureau, Altcoin Daily and Sheldon Evans were also cited for their substantial growth during the bull market. 


The full article can be found here: https://cointelegraph.com/news/here-s-how-much-musk-and-saylor-s-tweets-influenced-crypto-prices-in-q2

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