I will advise everyone especially newbies to follow these influencers as they consistently release daily crypto updates that may be of help to your decision making. Also learn to make your personal verification and judgement coupled with your experience before taking any action.
Following them to stay current seems okay but using their advice in your decision making could be misleading. Not all the time, of course but newbies will likely have little to zero knowledge of the things dropped by these influencers and might later fall for a wrong update that could wreck them.
Always do your own research (DYOR) before taking decisions.
At the same time, only use a tiny percentage of your portfolio in altcoins (crypto at large) while you make Bitcoin your main plan.
Doing your own research is the best that any investor can do at all time because no matter what anybody tells you about cryptocurrency, you can never be too sure. Trusting them completely will be a very wrong decision because if we can trust them 100% that means everyone will be rich and would never run a loss. It's just like sports betting, sometimes people will claim to have a fixed game, they will convince you to buy the game for a given amount of money. Because they have assured you that the game is fixed already and must play out the way they predicted, if you go all in with your money wanting to make it big, most people end up loosing their life saving because of these fixed matches. This is why you are supposed to have your own judgement at all time.
It's wise to always consider that in this crypto space, the best advice is the one you give to yourself because most of these influencers are most likely to be scammers. If I may say based on their popularity, they might even aggressively introduce and as well promote a brand new low cap coin with an unrealistic promise That is where most newbies fall for this trap because they are looking for quick gains, and once that happens,they will end up in a pump and dump.
Most of the influencers may not be scammers yes, but it's advisable to always do your own research and trust your own judgment.
Yes, sometimes some developers capitalise on the activities and audience of these influencers to get the market attention by hyping its legitness and they will get initial pump. Sometimes when funds are pulled into the coins, it will be suddenly increase its Volatility and liquidate to zero or nothing. These were they Idea behind the reign of Airdrops, they made good use of these influencers and also paid them through their community engagement and eligibility criteria. Most of the airdrops that resulted to nothing were given the highest promotions, things like the Blum, seed, PAWS, Tapswap and many others.
But this does not rule out their benefits to the entire crypto community. Most of us won't hear about bitcoin or other good coins without these influencers, and that's why it is good to follow them but not wholesomely. Before you follow anyone, you also research about the person's activities and achievements in the crypto market and that's why I personally prefer Michael saylors updates because most of them are practical and he buys bitcoin continuously to also prove his stand.
I will advise everyone especially newbies to follow these influencers as they consistently release daily crypto updates that may be of help to your decision making. Also learn to make your personal verification and judgement coupled with your experience before taking any action.
Make we no just follow them because we think say they have better understanding of the market then us, some of them the way they see the market can be wrong and if you follow them without verifying the things they post or say, then you're going to make the same mistake that they're making.
Make we dey know say Influencers will do anything to put the project that they're supporting on the map. Take all the advice they give and crosscheck with what you know to be true about the industry and when you're still confused then you can ask questions on the forum and I believe you'll get genuine advice.
Alot of these influencers, money dey worry them and they begin to go against what they once stand for. Influencers should expose you to new projects and not make you invest in them just because they say so.
Yes you are very correct. No be everything they talk you follow at all time. Sometimes dey ask your self whether your mind fit carry that kind thing and if the market no turn positive as they predict, you fit chest the loss?? For every business wey person dey do, e suppose understand say wetin work for Ayo fit no work for Hassan and if you go follow wetin you hear complete like that, na OYO e go be for you.
But e good make we dey follow them because na when you hear something before you go fit go make research make you know whether e legit or e no legit.