Five people highly influencing crypto market

Vladlena Martus 2022-07-21

Five people highly influencing crypto market

We profiled the most powerful and influential people in the crypto industry. Whose words will make Bitcoin grow? Whose tweets will create another popular coin?

2021 and 2022 have rightfully become one of the most exciting years in the history of cryptocurrencies. A record rise to almost $70,000 and a further drop to nearly the 2017 rate is what happened in this short period.

Investors abandoned their plans for cryptocurrencies, sold all their assets, and recruited Bitcoin and its followers into their portfolios. It was a truly fantastic year in terms of its scope and events. And everything that happened during this time resulted from global economic and geopolitical events. By the way, we talked about how cryptocurrency reacted to the war in Ukraine a couple of months ago. You can read about it here.

However, as it often happens, the development of cryptocurrency is very often influenced not only by large-scale events but also by large-scale people. 

That is why we look at the top 5 people who have the most influence on the crypto market so that you know whose predictions, tweets, and statements you should follow so as not to make a mistake with the choice of investments or coins for trading.

Be careful! This article is for informational purposes only. We do not position ourselves as the ultimate truth but only help to understand the topic and encourage you to do your research and action.

We hope that you will take this blog as a recommendation for future investments. Wisebitcoin always wants the best for its traders – we are for safe and secure trading.

Why are there any influencers in the crypto market?

If we talk about what the cryptocurrency exchange rate depends on, then the first thing that comes to mind is supply and demand. You can find hundreds and thousands of coins in the open spaces of cryptocurrency exchange platforms, but those that show non-standard results attract more attention. Their number is finite, which means that the demand will be great. If demand is high and quantity is limited the price rises.

The second reason for fluctuations in cryptocurrencies is rightfully considering the events in the world, the statements of influential people, and the reaction of social networks to all this. A smart move could even promote a meme cryptocurrency like Shiba Inu. And Elon Musk's funny picture about the Dogecoin cryptocurrency in the form of Simba's lion cub on a mountain cliff is not just a joke but a full-fledged marketing campaign, for which he was not even paid. 

The reason for the explosion of social networks after any tweet of the same Musk is proof of the community's loyalty. People trust Elon and will be ready to do anything he tweets about. And this is not bad because people like Elon Musk have the authority, knowledge, competence, and necessary experience, which distinguishes him from the usual Bitcoin rate predictors on the forums.

Every community should have its leaders of opinion. The crypto community has one too. And not the worst one. Let us meet them below!

Top-5 influencing people in the cryptocurrency field 

1. Michael Saylor 

Who: The CEO of MicroStrategy Incorporated – an American software company founded in 1989, which provides business intelligence, mobile software, and cloud services.

Why he influences crypto: MSI started to acquire Bitcoin in August 2020, still having significant successes in that area. His company is one of the top crypto stocks to gain value in 2022. Michael Saylor became one of the most prominent advisers and experts advising investing in Bitcoin and cryptocurrency. A very ardent supporter of the crypto sphere and everything connected with it.

2. Changpeng Zhao 

Who: The CEO of Binance – the world's leading blockchain ecosystem and infrastructure provider for the cryptocurrency industry that includes the most extensive digital asset trading exchange by volume. It was founded in 2017 and has become a global blockchain company providing a full range of services for investors and traders.

Why he influences crypto: Changpeng Zhao took third place on the Forbes list as one of the wealthiest people in the cryptocurrency industry. In addition, he is the Head of Development at Blockchain and the Chief Technology Officer of OK coin. 

Changpeng also managed to develop trading software at Tokyo Stock Exchange and even Bloomberg! Changpeng confessed once: that almost all of his assets are concentrated in cryptocurrency.  

3. Sam Bankman-Fried

Who: American billionaire, entrepreneur, and investor. He founded a cryptocurrency Exchange named FTX, which is quite popular among crypto investors that support it. In addition – he manages his assets through Alameda Research, founded in 2017 by himself. This company offers quantitative cryptocurrency trading.

Why he influences crypto: In 2022, he took 60th place in the Forbes rank of billionaires with $24 billion. Unfortunately, the drop of 2022, a couple of months after the beginning of the year, he lost about $8 billion. That doesn't bother him to be one of the most influential people in the cryptocurrency industry because he has an excellent flair for profitable assets. 

4. Vitalik Buterin

Who: Ethereum’s CO-founder and one of the youngest crypto billionaires in the world. He also is involved in the Bitcoin community as a writer and great developer. 

Why he influences crypto: His blogs are popular everywhere he starts them. For example, his Twitter account includes practically 4 million followers. All of his tweets are helpful and cognitive, but his way of writing something in a blog is fascinatingly simple and intuitive.  

Vitalik is often sharing insightful comments about crypto and blockchain. In addition, you can find helpful reviews, articles, and other valuable resources about cryptocurrencies, which are useful for those who want a better understanding of how cryptocurrencies and blockchain work. Time Magazine named Buterin the most influential person of crypto for 2021. 

5. Elon Musk

Who: An American engineer, entrepreneur, and investor. The CEO of Tesla, SpaceX, and The Boring Company. In addition, he also agreed to buy Twitter in 2022, but recently he backed out of the acquisition deal. By the way, we wrote about his deal in our recent blog. You can read it here!

Why he influences crypto: He is the almost Alpha influencer among top media people in the cryptocurrency community. In the beginning, Musk preferred Bitcoin as an asset to support. However, nowadays, he chose Dogecoin as his favorite cryptocoin and often includes it as a payment method for his products, along with BTC, ETH, and other popular coins. His influence is significant, at least if you remember his tweets about Tesla buying BTC for $1,5 million. After that publication, the BTC rate rose to 14%. 

There was also a website that calculates the damage that Elon Musk's tweets caused to the cryptocurrency market – The creators believe that the price, fluctuations, and future of specific cryptocurrencies depend exactly on Musk's tweets and predictions.

To sum up

As you understand, following famous personalities who influence the cryptocurrency market is very profitable. You can catch a good moment and sell/buy this or that token for good money. Or you can listen to the statements of these people and draw your conclusions on portfolios, investments, asset formations, and other essential things.

The role of the famous and influential people that influence the market is inevitably growing. Cryptocurrency, in its primary sense, is mainly based on the community, but the community should have a knowledgeable leader that will guide opinions toward detailed summaries and actions. 

You can also follow Wisebitcoin. We have all the relevant information about the cryptocurrency market. We actively publish fascinating texts about current events, market analysis, and educational materials for beginners to start trading smartly. We believe that financially literate people are the future of this world. And our heroes of today's blog are just confirmation of this.

Wisebitcoin helps you monitor cryptocurrencies you are interested in – you need to register on our website and follow the exchange rate on the page. Simply, fast and reliable! We are your up-to-date comrade in cryptocurrency trading and are glad to offer one of the best services on the market. 

Have good luck with your goals, and feel free to address our support managers if you have any questions/issues/offers. We will be glad to solve any of these!