Post
Topic
Board Beginners & Help
Re: Should you trust crypto "influencers?"
by
Moonbrand
on 21/05/2018, 09:21:14 UTC
What do you mean by influencers? If you mean by that is about manipulators, no you should never, because there are too many and situation may always does not support them, so you can follow.


Unfortunately, often the market manipulators come across to the general public as consultants who just happen to be very good at trading. It's not like they put "Market Manipulator" or "Pump and Dumper" on their Twitter profiles. But some of them have been caught red handed using their subscriber base as fodder for their manipulation schemes. In some cases, their subscribers have been paid subscribers, which makes that abuse all the more blatant.

If you follow an influencer and they start promoting a coin, ask why before you buy.

Besides for Youtube and other social media influencers, how do influential people’s opinions, such as Richard Branson, Bill Gates, and on the flip side, Warren Buffet, on Bitcoin and other cryptocurrencies affect the volatile nature of the exchange rates and the general public opinion of crypto? Is it a good or bad effect due to them being a more credible source of information as they are distinguished people in their own rights rather than Youtube sensations who can get these “paid followers” to make themselves look legit?