Proceedings of Femfest International Conference on Economics, Management, and Business
Vol. 1 (2023): Proceedings of Femfest International Conference on Economics, Management, and Busines

The Role of Social Media Influencers in the Cryptocurrency Market Performance Movement

Ronniko Agus Frinico (Sultan Agung Islamic University)



Article Info

Publish Date
09 Oct 2023

Abstract

During this pandemic, there are many people who just stay at home, so they think about investing in order to get additional income, one of which is investing in crypto, until finally, crypto investment becomes a trend for people in Indonesia. The pump and dump pattern known in the cryptocurrency market shows that a high market capitalization makes a project in cryptocurrency healthy and not vulnerable to market manipulation. Many factors influence the increase or decrease in the price of cryptocurrencies, although this digital currency is known to be resilient to government intervention, there are many other factors that contribute to its price volatility. One of them is famous influencers such as Elon Musk, Michael Saylor, Changpeng Zhao, and many more. These influencers often tweet on social media such as Twitter, with a single positive or negative tweet that can increase or decrease the price of cryptocurrencies such as BTC and alternative cryptocurrencies.

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Journal Info

Abbrev

JTS

Publisher

Subject

Economics, Econometrics & Finance Social Sciences

Description

Proceedings of Femfest International Conference on Economics, Management, and Business focuses on research related to economics, management, and business that are relevant to the development of the theory and practice of economics, management, and business especially in Islamic disciplines. ...