© Courtesy of BenzingaIt is not surprising that 2022 will be a turbulent year for global markets. The US stock market is down more than 15%, while the bond and cryptocurrency markets are down more than 20% and 50%, respectively, from their peaks almost a year ago around Christmas. Investors suffered big losses as fears of economic uncertainty, inflation and corporate bankruptcies fueled market volatility.
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As 2023 begins, here's a look at some of the best crypto tweets of the year that had an undeniable impact on the market. While some tweets generate huge profits, others can lead to huge losses.
The Musk Effect : January started on a high note, and we have to give credit to Elon Musk 's amazing influence. Musk has expressed his support for Dogecoin (CRYPTO: DOGE), stating that Tesla Inc. (NASDAQ: TSLA) using a crypto meme.
He even went so far as to explain that if McDonald's were to adopt the meme currency, it would eat a happy meal on TV, a move that drove up the price.
Question about energy consumption: In January, Senator Elizabeth Warren (D-MA) highlighted the increased energy consumption of Bitcoin ( CRYPTO : BTC) mining and its impact on local communities. He said that the energy consumption of bitcoin mining has more than tripled since 2019 and now consumes nearly as much energy as entire countries.
Terra Luna Collapse: The sudden crash of Do Kwon Terra Luna (CRYPTO: UST) stablecoin in May has stirred things up. The widespread impact affected the entire cryptocurrency market and wiped out more than $200 billion. In an effort to reassure the community, Kwon tweeted, "We are in this together and we will get through this crisis." Unfortunately, despite these attempts to provide stability, the incredible crash of Terra Luna has continued to create massive cryptographic uncertainty. market.
Merger - The upcoming merger of Ethereum (CRYPTO: ETH) on September 15th was one of the most anticipated events in the crypto space this year. By switching from Proof of Work (PoW) to Proof of Stake (PoS), Ethereum has significantly reduced its power consumption. Who better to welcome the merger than ETH co-founder Vitalik Buterin .
Nayib Bukele's BTC Obsession : El Salvadoran President Nayib Bukele has championed Bitcoin since the beginning of the year, investing when the price drops. Every time I bought, the market responded positively and provided some much needed relief to the Bitcoin price.
Bukele's prediction for January 2022 is not outdated and one of the predictions was that Bitcoin would reach $100,000. At the time of writing, the Apex cryptocurrency is trading at $16,812, according to Benzinga Pro.
SHIB Metaverse : Team Shiba Inu (CRYPTO: SHIB) announced in April that they will be launching a ground application event for their Metaverse
Almost 20,000 lots have been sold in the Shiba Inu metaverse since the sale of Shiba Inu lands began.
SBF-CZ Dispute : FTX's compelling success story was a modern American dream come true: in four years, a 20-year-old MIT graduate built one of the most respected, profitable, and reliable cryptocurrency exchanges. Dubbed the “Emperor of Digital Currency” by The New York Times and hailed as the “world’s first trillionaire,” Sam Bankman-Fried (“SBF”) is now infamous as a fallen thief in the blockchain industry.
It all started on Twitter on November 6th, Binance CEO Changpeng Zhao “CZ” fired up the cryptocurrency market with a stunning tweet: Binance plans to sell the $500 million in FTT they sold at the beginning of this year from research, obtained years ago. . Panic spread in the cryptocurrency market despite FTX's assurances that it is financially stable.
The liquidity crunch came on November 8, when FTX stopped removing users from the platform and it became apparent that the company was in dire straits. Binance stepped in and signed a non-binding letter of intent to acquire FTX.com and fill the gap. However, upon further investigation, Binance discovered a massive deficit of $8 billion in FTX accounts; As a result, the planned acquisition did not materialize.
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