I just published an article about how it will soon be the end of crypto signal groups. Check it out and let me know what you think!
The reason why they went out of business was mainly due to not having a decentralized version of doing it. I remember one telegram group for pump and dumps that literally picked which coin will be pumped and dumped by just the last digit of a litecoin chain and that was actually not a bad idea, nobody would be able to get in early and everyone had equal chances. Now pump and dump is not similar to signal groups I know but there was similar reasons why they got burned out as well.Signal groups were the same, some people got it early and bought, others got in too late and burned out, which resulted with only few people making a profit and most of the people losing money. Also most of the calculations were based on charts and we all know charts were not a good indicator most of the time.
Exactly, just because the people in the group didn't react on time when the market is in bloom, hence great advantage move for traders, doesn't mean that signal groups aren't working or are of not good use. In my opinion, they are but here's an idea rather than 'villainizing' them if I can call it that, why not instead incentivise them a little
Perhaps their fame can be re-introduced by providing a better, quicker way to reach the others, like using a different medium, but to be fair it is all down to the unexperienced traders who clearly should first check if the market still holds the favourable conditions before buying/selling.