At this point, Elon Musk can play the crypto markets like a conductor in an orchestra. With a flick of his thumb, he can send prices skyrocketing. As an investor or someone looking to invest in the crypto market, paying close attention to Musk is a valuable thing to do, as he has a great deal of influence over the markets.
In this article, I will be looking over some of Musk’s recent comments in the crypto space, and from that deducing some post-crash cryptocurrencies to consider copping: Dogecoin (DOGE), Bitcoin (BTC), and Big Eyes (BIG).
Musk, the self-proclaimed ‘Dogefather’ has been a tenacious supporter of Dogecoin (DOGE) throughout his career. In the past, his tweets and comments on Dogecoin have caused massive price surges, and on Saturday’s Twitter Space discussion he made a simple, yet boldly bullish comment on Dogecoin: “Doge to the moon.” This caused a surge of nearly 6% just merely from this statement. In this frigid crypto winter. After the FTX crash. Crazy.
In the past, Musk has repeatedly shown his support for Dogecoin, and that he personally owns the cryptocurrency too. He has not only shown verbal support, but his company Tesla has started to accepted Dogecoin for some merchandise. Many people believe that with the acquisition of Twitter, Musk has plans to integrate Dogecoin as a method of payment for services on the platform, like Twitter Blue.
Musk is clearly going to remain a dedicated devotee of Dogecoin, and many people value Musk’s opinion – driving up the price of the token. Whilst the price is low right now as the smoke rises from the FTX collapse, it might be a good idea to scoop up a load of Dogecoin. You get your Doge at a discount, and also do not have to dread missing out on the next price spike.
Musk commented on the future of Bitcoin (BTC) on his Twitter this Monday. Responding to a user’s queries about Bitcoin’s price drop from its all-time high, Musk wrote: “BTC will make it, but might be a long winter.”
As the original cryptocurrency, and current most popular on the market, Bitcoin will have staying power in the game, as so many people have heavily invested in the token itself, and its ideology. Cryptocurrency is synonymous with Bitcoin for many who do not know much about the space, and for good reason, it is one of the best stores of value that you can invest in due to its deflationary nature. Bitcoin has been going for this long and will be here to stay.
Musk weighed in on the future of cryptocurrency at the Twitter Space event on Saturday, regarding the current state of the market:
“I would reaffirm that, if you have crypto, you should have it in a directly-accessible cold wallet. Not in an exchange. That would be wise.
I think there probably is a future for Bitcoin, Ethereum, and Doge. I can’t really speak to the others. But if you’ve got one of those three in a cold wallet, and off an exchange, I think my guess is it works out well.”
The crux of Musk’s argument is that only keeping your cryptocurrencies on a centralised exchange exposes you to the dangers that many investors lived through on the collapse of FTX – having all of your hard-earned money wiped, just like that. This focus of keeping cryptocurrencies in cold wallets such as Metamask is an increasingly prevalent talking point and has also got more people focused on the DeFi space as a whole.
Big Eyes (BIG) is a new meme coin pushing DeFi running on the Ethereum network. As the current way to purchase Big Eyes is through the use of a cold wallet, investors do not have to worry about their funds becoming inaccessible for any reason. Big Eyes has plans to launch on Uniswap, and also to make DeFi as accessible as possible for newer investors in the crypto space.
Use promo code BIGPRIZE24 when purchasing Big Eyes to get extra tokens for free!
The Dogefather himself has told crypto investors to buckle up for a long, cold winter, and to stuff their cold wallets full of Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE). Though Musk has not (yet) given an endorsement to Big Eyes, as Big Eyes runs on Ethereum, and is accessible on a cold wallet, we think he would give a nod of approval.
Big Eyes Coin (BIG)
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