Do you follow trading advice from crypto influencers? - page 16.

FrueGreads

legendary

Activity: 1582

Merit: 1059

Quote from: peter.from.penn on March 01, 2018, 12:37:41 PM

I think that the cryptocurrency market us unique, because many investors don't understand blockchain technology. So they rely upon experts on YouTube, Twitter, and Telegram for information, analysis, and advice. As a result, we have the phenomenon of crypto influencers. Some are reputable, like Carter Thomas of Coin Mastery, but others are not. What's your opinion on Crypto influencers? Are they good for this market and the cryptocurrency movement? Do you take advice from them? And who's good to follow?

I think you could listen to them, but don't blindly follow them. A true investor should not follow other's people opinions, and should just stay with fundamental analysis about the project they are investing in. I won't deny these guys are good, but it's not because they understand crypto, but simply because they are well known, and have millions of followers, so what they say kind of becomes a self fulfilled prophecy.

For the long run, I would say stick to your one analysis. For the short term, these channels could actually be a good option, because there are a lot of guys that just follow them blindly, and if they are a lot, they will move the price a bit and might create a trend (almost like a pump and dump group).

Baofeng

legendary

Activity: 2576

Merit: 1655

If you are talking about the like of John McAfee as influencer because of his coin of the day then NO. What I do is just really read what's most of the analyst are saying and draw my own conclusion.

The problem is that most of us doesn't know that much about crypto trading and they indeed listen to influencers like they should invest in this or that, but at the end, if they lost their investment then there's no one to blame but yourself. Just gather information and try to filter out and see what you think is the best for me.

supercanada1

sr. member

Activity: 798

Merit: 253

Quote from: yugyug on March 30, 2018, 04:02:02 AM

Since some of cryptocurrency market simply rely on media, influencers,supporters. Some social media influencers contributed also the trend particular if they have large audience. We welcome their opinion but we should not deeply rely on them, we have to do some research too. Cryptocurrency is about technical and economic aspects, learn their technology,products and services and their impact to the market demand.

I am also with learning about the market as much as possible and from any source. This will increase ones knowledge and broaden his angle of looking at things. I also believe that a person should just listen to the opinions of others but take the action according to his own free will. This is the actual way to grow one’s mind. Relying on other’s knowledge too much takes away the freedom of thinking in creative way. A trader should give priority to his intuitions.

yugyug

sr. member

Activity: 616

Merit: 256

Since some of cryptocurrency market simply rely on media, influencers,supporters. Some social media influencers contributed also the trend particular if they have large audience. We welcome their opinion but we should not deeply rely on them, we have to do some research too. Cryptocurrency is about technical and economic aspects, learn their technology,products and services and their impact to the market demand.

bitcoinking11

member

Activity: 378

Merit: 17

I haven't taken any trading advice from anywhere, if I find any good crypto influencers then I would definitely take advice. I think there is nothing wrong in taking advice.

arpon11

sr. member

Activity: 882

Merit: 282

Quote from: peter.from.penn on March 01, 2018, 12:37:41 PM

I think that the cryptocurrency market us unique, because many investors don't understand blockchain technology. So they rely upon experts on YouTube, Twitter, and Telegram for information, analysis, and advice. As a result, we have the phenomenon of crypto influencers. Some are reputable, like Carter Thomas of Coin Mastery, but others are not. What's your opinion on Crypto influencers? Are they good for this market and the cryptocurrency movement? Do you take advice from them? And who's good to follow?

I don't relay on advice from the said called experts when making a trading decision but using them for information purpose. Bitcoin and altcoins trading is very risky and you should not keep you hope on the views of other. I have been in this market for quite some time now and the reality is that trading is a decision one has to arrive by him or herself and if you did not no how to do this then don't risk your capital.

JL421

hero member

Activity: 812

Merit: 510

There are no crypto influencers left all simply buy the coin at and give some fake facts regarding it and make there followers pump it , see McAfee, charlie they don't do anything to the price it's just a pump and after a while the price falls

Wicked17

full member

Activity: 476

Merit: 107

Quote from: peter.from.penn on March 01, 2018, 12:37:41 PM

I think that the cryptocurrency market us unique, because many investors don't understand blockchain technology. So they rely upon experts on YouTube, Twitter, and Telegram for information, analysis, and advice. As a result, we have the phenomenon of crypto influencers. Some are reputable, like Carter Thomas of Coin Mastery, but others are not. What's your opinion on Crypto influencers? Are they good for this market and the cryptocurrency movement? Do you take advice from them? And who's good to follow?

Experts advice also a good way to gain more knowledge upon trading especially for those new in trading crypto, you can follow their advice but most of them are not accurate in predictions. And at the end of the day your self analysis will still be your final decision.

trumper

full member

Activity: 406

Merit: 102

More like a investment advice rather than trading advice, I pay attention, most crypto influencers hold their coins for the long term instead of trading them.

michkima

hero member

Activity: 896

Merit: 514

For me, no. I don't follow then since they are most of the time paid or promised with something that is the reason they promote the ICO or cryptocurrency. Yes there are times that the crypto is good on paper, but really they are not backed up by good people or platforms. In the end, they just collapse and your investment gone.

Olalomi

member

Activity: 490

Merit: 12

My trading decision is not influenced by any source I relied on my trading strategy coupled with some fundamental news, whenever I sees a trading signal I pull the trigger with a stop loss I usually took advice from crypto influencers but their advice are usually of divergent views to me most of the time setting in confusions.

yojodojo21

full member

Activity: 420

Merit: 171

Quote from: peter.from.penn on March 01, 2018, 12:37:41 PM

I think that the cryptocurrency market us unique, because many investors don't understand blockchain technology. So they rely upon experts on YouTube, Twitter, and Telegram for information, analysis, and advice. As a result, we have the phenomenon of crypto influencers. Some are reputable, like Carter Thomas of Coin Mastery, but others are not. What's your opinion on Crypto influencers? Are they good for this market and the cryptocurrency movement? Do you take advice from them? And who's good to follow?

Well, Basically this is the first step of new traders and is good indeed, However most videos from YouTube and any other social medias are not 100% accurate, some of influencers are just saying a bit portion of what they know, to motivate new traders, for them not to be blame in the future. Furthermore, as a member to this forum I have seen that there are great managers who give advice on how to trade wisely. But The main answer here is experience.

wayaneka

full member

Activity: 644

Merit: 101

Yes i will follow them, but before it just make sure they do right review. Influencer can make market in more demand, because many their fans will believe and interesting. Influencer can make cryptocurrency make more popular and willl be more people interest in it.

piloder

legendary

Activity: 966

Merit: 1006

I don't follow every random crypto influencers or so called expert. I try to make money out of FOMO whenever there is some announcement from developer team. Most of the other so called expert only try to create FOMO over the coin they are also holding or have just bought just like how McAfee created bull run in several coins few months back.

Unicorn_Heart

member

Activity: 115

Merit: 11

Quote from: peter.from.penn on March 01, 2018, 12:37:41 PM

I think that the cryptocurrency market us unique, because many investors don't understand blockchain technology. So they rely upon experts on YouTube, Twitter, and Telegram for information, analysis, and advice. As a result, we have the phenomenon of crypto influencers. Some are reputable, like Carter Thomas of Coin Mastery, but others are not. What's your opinion on Crypto influencers? Are they good for this market and the cryptocurrency movement? Do you take advice from them? And who's good to follow?

There's no harm listening to the experts. However know your own style and your portfolio and adjust accordingly. Simply following Carter and other experts do not develop your own trading skills. I still believe that experience, time, passion, resources and right emotions are the best teachers.

eagleman

hero member

Activity: 1190

Merit: 504

Quote from: peter.from.penn on March 01, 2018, 12:37:41 PM

What's your opinion on Crypto influencers?

I don't have anything against them, they are giving their opinions and everyone is entitled of doing it. They are mostly helpful for newbies who are starting and desiring to hop the crypto market.

Quote from: peter.from.penn on March 01, 2018, 12:37:41 PM

Are they good for this market and the cryptocurrency movement?

Yes! It's on their tagline, influencers.

Quote from: peter.from.penn on March 01, 2018, 12:37:41 PM

Do you take advice from them?

I am taking advises that I know will help me to grow and will be beneficial to my trading career.

Quote from: peter.from.penn on March 01, 2018, 12:37:41 PM

And who's good to follow?

Actually there are too many of it, just check them on twitter.

herurist

sr. member

Activity: 1680

Merit: 259

Quote from: peter.from.penn on March 01, 2018, 12:37:41 PM

I think that the cryptocurrency market us unique, because many investors don't understand blockchain technology. So they rely upon experts on YouTube, Twitter, and Telegram for information, analysis, and advice. As a result, we have the phenomenon of crypto influencers. Some are reputable, like Carter Thomas of Coin Mastery, but others are not. What's your opinion on Crypto influencers? Are they good for this market and the cryptocurrency movement? Do you take advice from them? And who's good to follow?

I leave advice from others almost a year a go, bad experience for me. My skill not increase and sometimes got loss make me think that I should learn and believe my own skill. Not blame or will other person to follow advice from another but not me. Basic knowledge from trading and investment never change but how people face the result is the main problems. Even I'm not expert but face real market and enjoy the journey make me comfortable.

peter.from.penn

member

Activity: 62

Merit: 11

Quote from: vv181 on March 01, 2018, 03:10:31 PM

Quote from: ecnalubma on March 01, 2018, 12:48:59 PM

Quote from: peter.from.penn on March 01, 2018, 12:37:41 PM

I think that the cryptocurrency market us unique, because many investors don't understand blockchain technology. So they rely upon experts on YouTube, Twitter, and Telegram for information, analysis, and advice. As a result, we have the phenomenon of crypto influencers. Some are reputable, like Carter Thomas of Coin Mastery, but others are not. What's your opinion on Crypto influencers? Are they good for this market and the cryptocurrency movement? Do you take advice from them? And who's good to follow?

Its good to hear analysis from other people sometimes but self analysis and research is still best way to survive in this kind of ecosystem. We know in crypto world a lot of self proclaim experts emerge strong some are reputable but a lot are fakes and just creating hypes over crypto that they are into. So its better to have self analysis than following someones tactics.

Agree, and other opinions could be biased. No matter how reputable and experience a person is, when it comes to the investment we better to use our own knowledge. But I'm sure most of the expert analysis is worth to consider as a comparison since it could give us a valuable insight. I mean is, just take the piece of advice that expert gives to make us to deeply more research and analysis the cryptocurrency.

I agree that advice from knowledgeable influencers can provide a starting point for deeper research. And when it comes to research, I think that people need to understand blockchain technology. There are many projects with use cases that are not realistic, and we need to be able to recognize them.

Lovecove

member

Activity: 161

Merit: 38

(Thank you for all the merit =) ) ~Lovecove!

in stocks, it's fine to follow the advice of a licensed professional. But, crypto isn't stocks and there are no certificates or degrees in crypto investing Tongue

.

that said, there are some reliable ones that the crypto community has come to trust.

PBC is one such group, their recommendations always pan out in the end. There are some good TA analysts like cryptorand.

So I would just do research and see what someone's past calls are. See what the general community thinks about them.

dothebeats

legendary

Activity: 3542

Merit: 1352

I usually get some insights in trading on tradingview though I still make my own analyses and draw my own conclusions and I'm just merely getting up an idea on experts in the field. Though it isn't bad to get trading tips on other experts, still it's better to make your own conclusions and not rely heavily on other people's move so that you can trade depending purely on your knowledge without having the need to hesitate on your own conclusions. Right now I'm still getting information from other people and reading up some possible move on the market then I make my own analyses and trade depending on what I deem would be the most profitable move I can take.

Topic: Do you follow trading advice from crypto influencers? - page 16. (Read 1251 times)