The Musk Effect for the FTX-Binance Fiasco: Revisiting the Top Crypto Tweets of 2022 That Shook the Market – Bitcoin (BTC/USD), SHIBA INU (SHIB/USD), Ethereum (ETH/USD), Dogecoin (DOGE/USD) usd)

It’s no surprise that 2022 was a turbulent year for global markets. The US stock market fell more than 15%, while the bond and crypto markets fell more than 20% and 50%, respectively, from their peak a year ago around Christmas. Investors saw significant losses as the market fluctuated due to economic uncertainty, inflation and fear of companies declaring bankruptcy.

See more: Best Crypto Day Trading Strategies

As we enter 2023, here’s a look back at some of the top crypto tweets of the year that have had an undeniable impact on the market. While some tweets have resulted in huge profits, others can be the cause of huge losses.

musk effect: January started on a high note and had an incredible impact Elon Musk A credit has to be given. Musk lends his support dog coin doge/usd and announced Tesla Inc. TSLA Merch can be purchased with Meme Crypto.

He even declared that he would eat a Happy Meal on TV if McDonald’s accepted the meme currency – an action that sparked a rally in its prices,

Energy consumption in question: In January, Sen. Elizabeth Warren (D-Mass.) shed light on the growing energy use of Bitcoin BTC/USD Mining and its impact on local communities. She said that energy consumption for bitcoin mining has more than tripled since 2019 and is now using almost as much energy as the entire country.

terra-luna collapse: The The Sudden Downfall of the Du Quons terra luna UST/USD The stablecoin broke all hell in May. The far-reaching impact affected the entire cryptocurrency market, wiping out over $200 billion in value. In an effort to reassure the community, Kwon tweeted: “We are in this together, and we will find a way out of this crisis.” Unfortunately, despite these efforts to bring stability, the stunning decline of Terra Luna continues to create extreme uncertainty in the crypto market.

the merge: impending September 15 Ethereum ETH/USD The merge was one of the most anticipated events in the crypto space this year. Thanks to the switch from Proof of Work (PoW) to Proof of Stake (PoS), Ethereum saw a drastic reduction in energy consumption. and who is better Vitalik ButerinTo welcome Merz, the co-founder of ETH.

Nayab Bukele’s BTC obsession, Nayib Bukele, the President of El Salvador, has been an advocate of bitcoin since the beginning of the year. Investing every time the price dips. Every time he bought, the market responded positively, providing much-needed relief to the BTC price.

Bukele’s 2022 outlook in January hasn’t aged well, with one of his predictions being that bitcoin would hit $100,000. At the time of writing, the top crypto was trading at $16,812, According to Benzinga Pro,

shib metaverse: The Shiba Inu shib/usd The team announced in April that it would begin a land bidding program for its Metaverse.

About 20,000 pieces of land The Shiba Inu Metaverse has been sold since the Shiba Inu Land started selling it.

SBF-CZ controversy, ftx Compelling Success Story A modern American dream come true: within four years, a 20-something philanthropic MIT graduate had developed one of the most respected, profitable and highly trusted crypto exchange platforms. Sam Bankman-Fried (“SBF”), hailed by the New York Times as the “Emperor of Crypto”, and believed to be the “world’s first trillionaire”, is now infamous as the fallen untouchable of the blockchain industry.

It all started on Twitter on November 6th, Binance CEO, changpeng zhao “CZ” sets the crypto market on fire with a blistering tweet: binance plans to sell the $500 million FTT they acquired earlier in the year. Despite FTX’s assurance that they were, panic grips the crypto market financially stable.

On November 8, a liquidity crisis came to the fore when FTX froze user withdrawals from the platform and it became clear that the company was in dire straits. Binance stepped in and signed a non-binding letter of intent to acquire FTX.com and help address the shortfall. However, upon further investigation, Binance discovered a massive shortfall of $8 billion in FTX’s accounts; Hence the proposed acquisition never materialised.

Read further: Bitcoin, Ethereum, Dogecoin Spike After Bank of Japan Pivot: Trader Says This Could Be a ‘Huge’ Trigger for Relief Run

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