Social media has a huge influence on bitcoin or any other coin. Just the other week John Mcafee tweeted that Verge will go to 15$ around summer 2018. It was up till then around 60 satoshi and immediately people started buying them up and it flew all the way into 1900 satoshi range. Let me put it this way, if you have a huge social following, you can easily buy up a cheap coin for $100k worth. Then tweet about it that it's the next best thing without even anything to back it up etc, like Mcafee did, then see it soar to like 30x times higher than you bought it for, dump all and net around 3 mill from your 100k investment in just a day or two. After Mcafee's tweet the volume of Verge was over 1 billion within 24 hours. The rich get richer this way and the average gladly hand out their money to them. Fools are easily parted out of their money as usual.
If that is true, I think its a bad way to use social media influence. A big factor of growth of a coin is thru social media, that is why some of people use the social media platform to earn a lot of money.
