The Tie Report: Justin Sun and Warren Buffett Meeting Not As Positive As Expected Per Data

  • Tron and BTT have been affected by the announcements made by Justin Sun
  • The crypto market remains a very hyped and manipulated space
    It sees that Tron (TRX) and BitTorrent Token (BTT), have been affected by hype and negative sentiments over the last few weeks. Some time ago, Justin Sun announced that he was going to be meeting with Warren Buffett to talk about digital currencies after paying over $4.5 million. Before the announcement, the price of these two digital assets surged, but after it, the price and sentiment in the market dropped.

TRX and BTT Price Driven By Sentiment

According to a recent report released by The Tie, the price of Tron and BitTorrent Token have been fluctuating due to the comments made by Justin Sun, the CEO and founder of Tron. On May 26, 2019, Sun announced that there was “something huge and amazing going about Tron and BitTorrent.” He said that he was going to share it after June 1.

After that, the price of Tron surged by over 55%, while BTT surged by 58% during the same period of time. At the same time, the sentiment in the market saw a massive surge as well. The Tie shows how sentiment spiked around Tron.

Later, on June 3, Justin Sun revealed that he won a 3-hour long 20th-anniversary charity lunch with Warren Bufferr. This is why he would be talking about digital currencies with him and with other individuals invited, mostly experts in the crypto space.

Although there was a brief spike in sentiment for a few minutes, it plummeted as well as the price. Both Tron and BitTorrent slumped by 30% each. The announcement did not seem to convince individuals to keep investing in these digital assets.

As The Tie explains while Twitter hype and pumps are not as common now as what it was during the Initial Coin Offering (ICO) boom in 2017, the whole crypto market remains the most sentiment driven asset class around the world. Indeed, as an important figure comments or announces something on Twitter, individuals from all around the world enter the market to purchase or sell digital currency.

The Tie says that as the crypto market remains manipulated, users should do their due diligence and avoid these issues.

At the time of writing this article, Tron is the 12th largest cryptocurrency in the market with a valuation of $2.15 billion. TRX has also a price of $0.0322. Meanwhile, BTT is the 33rd largest cryptocurrency with a market capitalization of $282 million and a price per coin of $0.001335.

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