Charlie Lee the creator of Litecoin which has been called the silver to Bitcoin's gold made this wild price prediction that Litecoin could drop 90% in value back on December 11, 2017. This tweet came after Litecoin had already run up to about $160. You can see the date on this tweet if you look closely.
Charlie Lee also later sold all of his Litecoin a few days later around the $250-$300 range so that he could start to focus on developing the cryptocurrency more than focusing on investing into it. At least this is what he claimed.
Charlie Lee also predicted the flipping of Bitcoincash and Litecoin in terms of marketcap back in February of this year, and this has recently happened.
The main thing I'm wondering here is if Charlie Lee has enough influence in social media to start a bear market or a bull run, or if he has just been in crypto long enough to expect this kind of crazy price action to happen. However, now it seems like there are more crypto influencers out there than before, so I think his opinions of what will happen in crypto are going to become less influential to the market in the future. There are several more influencers out there such as Changpeng Zhao, the CEO of Binance, Brian Armstrong-The CEO of Coinbase, Roger Ver, and the list continues.
I think it's clear though if you listen to Charlie Lee talk that he is still more interested in what can be done to make Bitcoin faster, more scalable, lower fees, etc rather than focusing all of his attention on Litecoin. However, I still think he is taking the development of Litecoin seriously.
If we are looking at some of the biggest influencers into cryptocurrency then we should look at some of the data conducted by Clovr back in August 2018, even though it's a little outdated. The blockchain research and gambling company Clovr "surveyed 500 self-proclaimed blockchain enthusiasts about the influencers they follow for insights, updates and predictions. People were asked to choose from a list of nearly 80 influencers and their preferences were combined with the total number of followers each industry figure has on Twitter, Facebook, Instagram and Youtube to create a meta-ranking." news.bitcoin.com. Clovr found John McAfee to be the most influential person in blockchain news.
Here is the link to the full picture of what that research looks like: https://www.clovr.com/page/ranking-blockchain-influencers
The research study which is based on data on August 9th 2018, named John McAfee as the most influential person in Bitcoin followed by Vitalik Buterin, and Charlie Lee in 3rd. The study also named Andreas Antonopolous as the 4th most influential person, and the study also named Justin Sun as the 5th most influential person. Since this study is 4th months old the influencers that should be on this list could probably be different.
The study Clovr conducted also went further to include data such as the most followed blockchain influencers on social media (pulling data from Twitter, Facebook, Instagram, and YouTube) and listed John McAfee at over 1 million followers and Vitalik at over 830k followers as well. The study went further to try and break down who the most popular person to follow was based on each gender and found that women did not prefer to follow John McAfee as their favorite source of cryptocurrency information.
Even further, the study went on to show that the Democrats tend to follow McAfee, Buterin, and Cameron Winkelvoss the most, and that McAfee, Charlie Lee, and Justin Wu were more popular with Republicans. All of this being said, this is just a survey taken from August 9th, 2018 so not all of this data is going to be accurate right now.
It's not that hard to predict such moves if you're in crypto since 2011 like Coblee.
Dear @the4thmusketeer
That's definetly true. There is so many ifluencers out there already, and those big names will probably be replaced with someone else in 2019.
Maybe only Andreas Antonopolous will still be very well remembered by many. For things he did. His legacy will last the longers.
Really good and informative read. Obviously upvoted.
Yours,
Piotr
Well analyzed insight into crypto influencer that might have a big effect and influence on the prices of crypto coins. But how do Charlie Lee gets all his prediction rights about the price of litecoin and the bearish mode the markets is experiencing for now, it just prove to shows that some major crypto players are the ones that determine the future prices of crypto coins. Thanks for the list of influencers that you highlighted I will follow these men to always be ahead on major crypto news and events as it affects the crypto markets @the4thmusketeer
Yes I agree, it seems like these well known actors in crypto already know what's gonna happen ahead of time. Charlie Lee predicted a $20 Litecoin and it came true. I wonder if McAfee's $1 million prediction for Bitcoin will come true. Can he make it come true? This recent article Meno wrote relates to what I was talking about as well: https://steemit.com/bitcoin/@meno/nothing-to-see-move-along
influencer marketing seems to be effective. otherwise, the market will behave opposingly. a lot of industries are into it since social media is stronger than mainstream.
marketers nowadays believe that testimonials are really better just like what advertisers preferred.
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I've been wondering how hard to win a brand new Maserati car by participating in trading competition like this https://www.kucoin.com/#/rank/ONOT
Speaking of onot trading competition, I've heard that Kucoin have already distributed the rewards for KAT trading competition to all the winners who've made it to the end. https://news.kucoin.com/en/kat-campaign-rewards-distributed2/
I don't know if onot already distributed theirs but they've already done with the trading competition as well.
well explained article of crypto market. hope it will increase time to time.
Hey @th4musketeer, thank you very much for your analysis and the insights you gave about the influencers of blockchain and cryptocurrencies. I will definatly check the survey out.
I am not quite sure if that was a spectecular prediction since a lot of people pointed out that the hype will change into a bear market.
Did those influencer already change their opinion? Do you have some insights? Thanks again for this post. I am highly interested in crypto myself and leave an upvote and a follow.
Keep up the good work buddy
M
Detailed information thanks for it.
My perspective is that Vitalik is the only one among them that has realistic impact. His statements have tangible impact on the market without he himself participating in any of the buying/selling.
The rest have little to no impact and those believing their words, collectively, fall in the same boat.
Yes, Vitalik is viewed as the 19 year old genius who created Ethereum and that will stick with him. Although Vitalik is not seen in the best light sometimes and often criticized for his awkwardness, people still trust his opinions on smart contracts and the future of blockchain technology.
Can you give me some tips about this trading competition. I just want to join but i don't want to lose my money again.
https://www.kucoin.com/#/rank/AERGO
All of these Kucoin trading competitions are about how much money you're willing to spend. If you're not rich in crypto, then it's probably not worth your time.
Man you bring up some interesting points 🤔🤔🤔 because the power of influence these guys have are pretty huge.
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Congratulations @the4thmusketeer!
Your post was mentioned in the Steem Hit Parade in the following category:
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When is mcafee going to eat his dick? 2020? I like litecoin to use it, but i never hold it
I'm not sure. He won't really do this. He will fake it somehow. I wonder if he'll get any T.V. time when he runs for president, lol?