@brush6
Social media discussions, especially on platforms like Twitter and Reddit, can significantly affect cryptocurrency prices in the short term. Positive news, memes, or endorsements from influencers can drive hype and cause rapid price increases as retail investors rush to buy. Conversely, negative sentiment, rumors, or regulatory fears can lead to sharp sell-offs. Since crypto markets are heavily influenced by retail investors, social media has become a crucial tool for gauging market sentiment and predicting potential price movements.
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