Bermuda Triangle: DOGE, CZ, Elon Musk

What awaits the crypto industry in Elon Musk’s crypto approach, Dogecoin (DOGE) and Twitter relationship, and Binance CEO CZ triangle?

The crypto industry continues to have active days in 2023. The markets, which had a great collapse with the bankruptcy of FTX in November 2022, continue to revive from the first month of the new year. Despite the negative news flows, it is noteworthy that the sensational news about the sector instills hope. The Dogecoin image that Twitter put on the platform, the crypto shares made by Elon Musk and the dark clouds over Binance boss CZ started to give signals for the future of the market. So what are these signals?

DOGE, CZ, Elon Musk: What’s Happening Soon?

The year 2023 of the crypto industry shows activity especially for Dogecoin (DOGE), Elon Musk and Changpeng Zhao (CZ). The effects of these three factors directly affect the crypto industry. So what can happen in the crypto industry in the future?

According to a previous report, crypto investors are starting to be less affected by the bad news. On the other hand, after a market crash dubbed the “crypto winter,” crypto investors have turned to the positive news.

However, news feeds generally bring adverse weather conditions. The lawsuit filed against Binance by the CFTC, Binance boss CZ’s grappling with FUDs, and the crypto flow developed specifically for Elon Musk are intertwined. Considering these news feeds, the future of the crypto industry is curious.

1- Deepening of Binance Litigation and CZ

The lawsuits filed against Binance and the CFTC’s dominance over Binance have the potential to become more detailed in the future. Among the CFTC’s 74-page Binance claims, topics such as Hamas and under-the-counter communications are also discussed. Although it will take a long time for these allegations to be resolved and the case to be clarified, it is among the possibilities that the effects will be observed in a short time.

Binance boss CZ continues to post “4” despite every news feed and every regulatory pressure. This will require CZ to be more vigilant and to work hard to close any gaps. However, the uncertainty in the crypto industry and the unregulated crypto could easily bounce off Binance in the event of a possible FTX. For Binance walking a tightrope, it may be enough for the crypto industry to be shaken by the opposite effect. This situation is among the possibilities of deepening the litigation issues, as it will give leverage to the US regulators.

Binance, which returns a volume of 25-30 billion dollars a day, stands out as the largest crypto exchange. This is one of the biggest reasons why the US is more willing to regulate. Any action against Binance could negatively impact the crypto industry. Sanctions or bankruptcies in Binance will affect all crypto exchanges with a domino effect. Because Binance has a 54 percent dominance among crypto exchanges. Binance can be called the Bitcoin of exchanges.

The “Binance negativities” that can affect the crypto market for almost more than a year may reflect strong declines on the Bitcoin side as well.

However, if Binance can avoid all these regulatory pressures and negative news flows, it will not have a positive effect on the markets. This can only clear the pessimistic clouds of the market.

One of the most important and guiding events of 2023 is cited as the bilateral relations between Binance and US regulators.

2- The Bull Market That Can Be Started By Dogecoin (DOGE)

Dogecoin (DOGE), the most popular memecoin of the crypto industry, draws attention as a cryptocurrency that can find direction with social activities and discourses.

Elon Musk, with his DOGE tweet on April 2, 2019, was one of the factors that started the bull run on the popular memecoin. This situation led to the rise of the crypto industry. Cryptocurrencies such as Shiba Inu, Floki, Baby Doge emerged with the rush launched by Dogecoin.

Today, the crypto industry, which is hungry for positive news, is focused on the news coming from DOGE. Twitter, owned by Elon Musk, started using the dog, the image of Dogecoin, on its platform. This brought a 30 percent increase for DOGE. However, DOGE has yet to succeed in dragging the crypto market after it. This event, which comes within the negative news pattern, puts the crypto market in pessimism.

Considering the relationship between Twitter and DOGE, the legal dimensions of the use of this image are also on the table. Twitter’s marketing of any cryptocurrency could further intensify the pressure from US regulators. In the coming period, it is likely that an investigation will be launched by the CFTC and the SEC specific to Twitter. The DOGE lawsuit for Elon Musk is currently ongoing. A group of investors sued Elon Musk for manipulating DOGE. This case is still ongoing.

The ongoing lawsuits and Twitter’s crypto affinity have certainly caught the attention of US regulators. Any Twitter move from the regulators could affect the crypto market and this effect could pave the way for declines to come.

With Twitter’s DOGE move, there was a 30 percent rise on the DOGE side and millions of dollars of short positions were liquidated. What can be perceived as manipulation and illegal marketing could lead to a strong pullback of the crypto industry and Bitcoin. However, if Twitter has made the DOGE move by taking into account all legal processes and if there will be a continuation, this is the signal of a new crypto bull.

Twitter, the social media giant used by hundreds of millions of people, can become the lifeblood of the crypto industry with a possible DOGE integration. In the past years, Amazon news and data that Tesla bought Bitcoin were the factors that fueled the crypto bull. The integration of Twitter with cryptocurrencies in the future may pave the way for a strong crypto market, especially DOGE.

Considering the relationship between Twitter and DOGE, regulatory investigations or integrations between the platform and cryptocurrencies welcome us in the upcoming processes. Or this relationship is just a joke…

3- Elon Musk and Cryptocurrencies

Owner of Twitter and Tesla, Elon Musk is known for his warm approach to cryptocurrencies and Dogecoin (DOGE). Before the bull market, Musk had created popularity all over the world with his “DOGE to the moon” rhetoric. Musk, who often makes statements about DOGE in every environment and shows his support for the crypto money market, has taken a very quiet stance in recent months. The biggest reason for this is a DOGE lawsuit filed against him.

However, Musk managed to attract all the attention with his statements on the relationship between Twitter and DOGE the other day. One of Musk’s posts included a statement, “As I promised.” The fact that Twitter put the symbol of Dogecoin on the platform image stands out as a completely planned move.

This move, taken by Musk and made by Twitter, started to lead the crypto industry to a new bull run. Many crypto investors think that Musk and DOGE will start the bull market of the new era.

Giving hope to the crypto money market with DOGE, Musk may continue with such Twitter shares and new moves in the future. If the billionaire who broke his silence shows that he is pro-crypto in accordance with legal processes, the possibility of a bullish scenario in the crypto money market is on the table. However, the problems of US regulators and Binance are serious enough to affect Musk’s positive moves.

If Musk starts sending DOGE in other companies such as Tesla, it is possible to see a rising wave in a short time. The billionaire is being followed with interest in the upcoming periods, especially about the posts he will make about DOGE. The billionaire, who was interested in artificial intelligence for a while, signed to stop the development of artificial intelligence. This could turn it back into the cryptocurrency markets.

While the crypto industry is alone under the pressure of all legal regulations and US regulators, Musk, one of the richest in the world, is viewed positively. Musk, like a savior, can contribute to the progress of the crypto industry. On the other hand, the intensification of legal processes and the suppression of Musk has the potential to shelve all possible good scenarios.

These three factors, called the “Bermuda Triangle”, have parallels with each other. Bad news from Binance can exploit the good news from DOGE. Elon Musk’s steps may be incomplete after any regulatory lawsuit against DOGE. Or, with all three of these factors working positively, the bull could hit crypto. All these processes and the accompanying results are eagerly awaited.