Time to be cautious: Everyone is not market expert

EarnOnVictor

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Quote from: mvdheuvel1983 on August 11, 2024, 12:26:34 PM

Quote from: Bushdark on March 09, 2024, 06:59:22 PM

Quote from: glendall on March 09, 2024, 09:37:04 AM

Quote from: GlacierBIT on February 12, 2024, 04:28:01 AM

The best expert will always be you yourself, your own experience in trading cryptocurrencies will open up all the opportunities for you to earn money. In the cryptocurrency market with a complex and unstable system, there will always be pseudo-experts who can only ruin your impression, it is their job to impose their opinion, you should not encourage their activities, real market experts do not behave like that and do not waste time on this.

This is where we as individuals must have firmness in making decisions, we can receive references from wherever we are but do not have to be applied in the final decision I think, so in my opinion I agree with your statement. The best expert will always be yourself. So why waste time hearing the words of experts suddenly when the market is up, and disappear when the market is down

It is good we don't always depend on social media and influencers for all information we need about the market.
We need to be an expect in anything we are doing so that people will be proud of us seeking information from us..
We need to be ourselves own experts so we can make decisions because in what we have seen and studied.
It is good for us to keep learning so that we are not going to lose our ways at the time when we are supposed to be shining.

Social media is full of lies and the influencers only take advantage of the opportunity they have as celebrities to take good about what they are paid to promote so it is very important not to take any advice concerning the crypto market from anyone on social media cause they may not talk the exact truth because they don't even know. Having a personal research on everything that has to do with informations about the market and taking our personal decisions after much research will help in a long way. Getting more information from any knowledgeable person with good proves is not a bad idea but the conclusion should be based on the investors decision not the decision of an expert.

I'm 100% with you on this, the world is not smiling right now, everyone is now selfish, and it's all for the money they want to make. But one thing is certain, they have an idea about the market and this is what is giving them the theoretical defense in the lies they peddle. Although some will not even tell you lies, it's all legit but the truth is that they are not successful themselves, which calls for caution and not gullibility that it's gonna be easy, it won't be.

Now, it's best that we learn it from different sources, apply what we learn and add or subtract to improve it and be able to achieve our success. If it's an external signal, go to charts and other economic sources of analysis, do your analysis and compare and contrast before you welcome any financial market ideas.

CK485

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Quote from: asrinur on September 23, 2024, 10:43:49 AM

In current market conditions, there are many people who claim to be experts even though they don't have any expertise in that field. Such news should not be used as the main basis for making investment decisions, but we must also do our own research and continue to collect several prediction sources to collaborate with before making a decision. Moreover, currently the price of bitcoin is experiencing a big spike but altcoins are not experiencing an increase like Bitcoin. Therefore, be careful when investing in altcoins in situations like this so as not to get caught in big losses that are difficult for us to avoid.

because with so many people telling about crypto information as if they know in it, it is necessary to apply a careful attitude, do not easily believe them, so to invest in altcoins it is necessary to know about the knowledge and insight that we have about altcoins before entering into it.

Rabata

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Quote from: mvdheuvel1983 on August 11, 2024, 12:26:34 PM

Quote from: Bushdark on March 09, 2024, 06:59:22 PM

Quote from: glendall on March 09, 2024, 09:37:04 AM

Quote from: GlacierBIT on February 12, 2024, 04:28:01 AM

The best expert will always be you yourself, your own experience in trading cryptocurrencies will open up all the opportunities for you to earn money. In the cryptocurrency market with a complex and unstable system, there will always be pseudo-experts who can only ruin your impression, it is their job to impose their opinion, you should not encourage their activities, real market experts do not behave like that and do not waste time on this.

This is where we as individuals must have firmness in making decisions, we can receive references from wherever we are but do not have to be applied in the final decision I think, so in my opinion I agree with your statement. The best expert will always be yourself. So why waste time hearing the words of experts suddenly when the market is up, and disappear when the market is down

It is good we don't always depend on social media and influencers for all information we need about the market.
We need to be an expect in anything we are doing so that people will be proud of us seeking information from us..
We need to be ourselves own experts so we can make decisions because in what we have seen and studied.
It is good for us to keep learning so that we are not going to lose our ways at the time when we are supposed to be shining.

Social media is full of lies and the influencers only take advantage of the opportunity they have as celebrities to take good about what they are paid to promote so it is very important not to take any advice concerning the crypto market from anyone on social media cause they may not talk the exact truth because they don't even know. Having a personal research on everything that has to do with informations about the market and taking our personal decisions after much research will help in a long way. Getting more information from any knowledgeable person with good proves is not a bad idea but the conclusion should be based on the investors decision not the decision of an expert.

Nowadays scammers are using AI to do things in such a way that people are getting scammed. By the use of AI it is difficult for people to observe what is true and what is false. Anyone who creates fake videos and is reaching people through social media. People are easily deceived by watching those video images. Its influence has increased in recent times on social media. People of any age are lured by scammers. But there is no other way to get rid of this condition except to attain awareness. If any financial advice comes on social media, it is a good to avoid it without any delay.

In the case of investment, an investor can make a decision by doing adequate research which will help to keep his investment safe but if the decision is taken depending on the information obtained from the social media, the chances of losing money will increase.

JellyJ

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Cryptocurrencies is one niche that is multidisciplinary and should be handled with care. Not everyone would give a subtle advice

asrinur

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In current market conditions, there are many people who claim to be experts even though they don't have any expertise in that field. Such news should not be used as the main basis for making investment decisions, but we must also do our own research and continue to collect several prediction sources to collaborate with before making a decision. Moreover, currently the price of bitcoin is experiencing a big spike but altcoins are not experiencing an increase like Bitcoin. Therefore, be careful when investing in altcoins in situations like this so as not to get caught in big losses that are difficult for us to avoid.

FortuneFollower

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Quote from: mich on September 03, 2024, 02:07:51 AM

Well yes I think you are right about that. We have to be careful because there is new projects I see all the time and we know alot of them are going to be 'rug pulls'.
There is so many social media influencers that will get paid to shill anything that pays them to do it. We do not even know if they are investing it the project they want to shill to the fans.
it is best if we do our own research when investing. And not to invest more then we can afford to lose if something bad does happen.

Only our own analysis and thoughts should be used to take action, most of the info we got we should proceed thoroughly and only then make from it a path to follow. For the safety of our funds Grin

Ishicryptic

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Quote from: kentrolla on December 07, 2023, 08:05:56 AM

Don't go with any such predictions and rather do your own research because I have seen people randomly investing into shitcoins just because it's mentioned over Twitter and the person who has tweeted has huge followers. There will be so much of deceiving as they will share some 10 coins and even if one of them prospers they will use it as upselling point.

Many newbies have been led astray because of their lack of experience about how the cryptocurrency market is, they will hear about a new hyped project and without knowing how to research they will invest their hard earned money. In the end the token will die and they will lose everything, then most of them will categorize cryptocurrency as scam. I know somebody that lost a lot of money from investing in a shitcoin, she had money and was looking for a good business to invest in and somebody told her about a cryptocurrency that guarantees to give her over 100x returns on a short time, she invested and the crypto is now dead with her funds. I told her that if I had known about her plan I would've advices her to invest in Bitcoin and she will get returns on investment on the long term. A top celebrity in my country launched a token and a lot of people bought it because of his personality, now the token is dead.

mich

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Well yes I think you are right about that. We have to be careful because there is new projects I see all the time and we know alot of them are going to be 'rug pulls'.
There is so many social media influencers that will get paid to shill anything that pays them to do it. We do not even know if they are investing it the project they want to shill to the fans.
it is best if we do our own research when investing. And not to invest more then we can afford to lose if something bad does happen.

Hewlet

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Not all predictions will be right on target, many telegram groups are currently aggressively providing interesting news about the next bull run. I never completely believe in predictions that are not clear without me resetting an altcoin that I want to buy. Most predictions only discuss profits without telling them about the big risks that will befall them when the price does not match predictions.

this is mostly common on YouTube, what they are after is generating leads and views for themselves and nothing more. They know that if they are truthful and tries to balance things up by informing thier audience on the good as well as the bad side of the altcoins they are projecting they wouldn't get the kind of authentication they are getting and so they just give it a catchy headline and present it in a captivating way that makes it look true to mostly newbies.

Though hype is good for most altcoin, it's good that as an investor you don't rely only on the information you get from a single source. Get information from different sources and from people that don't even believe in the project so you can have a balanced take on what the project is built on before investing. Even after you've gotten your fact right and it points to the fact that the project is legit, don't rush into investing too much an amount that if things didn't go as planned you will get hurt.

royalfestus

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Quote from: betswift on September 02, 2024, 12:35:17 PM

Quote from: royalfestus on September 02, 2024, 08:59:30 AM

The cryptocurrency bull market has evolved significantly since it first began, making it increasingly challenging to predict its behavior each year. The current difficulty lies in holding altcoins against Bitcoin, as there are risks in both the short and long term whether it’s exiting too early or getting caught in a bull trap

If you go for the spot it's not that bad actually, you just need to bear in mind that your bags are down quite a bit during a big period of time Grin

Then it's green or more time is needed. You just need to wait out the storm and see BTC on the rise.

Spot trading might look promising lately, but I still think it’s too early to say whether it’s better than holding when the market suddenly shifts. My approach to long-term holding involves entering the altcoin season once Bitcoin hits a new all-time high and goes parabolic. I don’t hold indefinitely.

betswift

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Quote from: royalfestus on September 02, 2024, 08:59:30 AM

The cryptocurrency bull market has evolved significantly since it first began, making it increasingly challenging to predict its behavior each year. The current difficulty lies in holding altcoins against Bitcoin, as there are risks in both the short and long term whether it’s exiting too early or getting caught in a bull trap

If you go for the spot it's not that bad actually, you just need to bear in mind that your bags are down quite a bit during a big period of time Grin

Then it's green or more time is needed. You just need to wait out the storm and see BTC on the rise.

Godday

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Quote from: asrinur on September 02, 2024, 09:49:24 AM

Quote from: Hypnosis00 on December 07, 2023, 04:57:27 PM

Therefore, we have to stop relying on others instead, we have to trust and save ourselves. Just to think that if others can make their market prediction, it is not impossible for us to do it because all the data is already available, only we need to analyze it and make decisions based on what we understand.

In fact, many people have lost their money from following these influencers claiming that they are an expert, yet they never know what crypto really is.

I agree with you that many people are trapped by following the wrong news or influencers, especially those who are new to investing without being equipped with sufficient knowledge so that they experience big losses which in the end can make them come to the conclusion that crypto investment is wrong. Therefore, it is very important to have knowledge about crypto and analyze the market as much as possible before making a decision in order to minimize the potential risks they face.

Nowadays I see many people trying to become crypto experts on social media even though they don't have the knowledge. Even most influencers on Tiktok just imitate others by giving crypto recommendations that will be profitable in 2024. In fact, they only make it to go viral and get profit from endorsements or selling certain products. I see a lot of predictions about crypto that will increase 10 or even 100 times by the end of this year. But it all doesn't make sense and they make it without giving a logical reason.

asrinur

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Quote from: Hypnosis00 on December 07, 2023, 04:57:27 PM

Therefore, we have to stop relying on others instead, we have to trust and save ourselves. Just to think that if others can make their market prediction, it is not impossible for us to do it because all the data is already available, only we need to analyze it and make decisions based on what we understand.

In fact, many people have lost their money from following these influencers claiming that they are an expert, yet they never know what crypto really is.

I agree with you that many people are trapped by following the wrong news or influencers, especially those who are new to investing without being equipped with sufficient knowledge so that they experience big losses which in the end can make them come to the conclusion that crypto investment is wrong. Therefore, it is very important to have knowledge about crypto and analyze the market as much as possible before making a decision in order to minimize the potential risks they face.

royalfestus

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The cryptocurrency bull market has evolved significantly since it first began, making it increasingly challenging to predict its behavior each year. The current difficulty lies in holding altcoins against Bitcoin, as there are risks in both the short and long term whether it’s exiting too early or getting caught in a bull trap

Crypt0Gore

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AI is like dooms day for all crypto investors, many will end up learning this the hard way, nothing seem to be true in this space anymore as you can't even tell what's real and what's fake, there are too many fake AI projects showing up almost every day.

Why should I blame this scammers when our own smartness got us here? It is so easier to build a project with the hurting help of some crypto building platforms online today, even a 6 years old kid can be a dev today, this is so annoying.

At one point in time it will be better to just go after Bitcoin and Eth only

Kelward

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Quote from: kentrolla on December 07, 2023, 08:05:56 AM

Don't go with any such predictions and rather do your own research because I have seen people randomly investing into shitcoins just because it's mentioned over Twitter and the person who has tweeted has huge followers. There will be so much of deceiving as they will share some 10 coins and even if one of them prospers they will use it as upselling point.

I think that an important phrase for everybody in the crypto space to take very seriously is DYOR (do your own research). There are many scams and misinformation on social media, you shouldn't rush to believe everything that you see or hear, some will be from scammers and others from ignorant people who share as received. I've seen celebrities who don't have any experience in cryptocurrency launch their own tokens and many people will buy them with their hard earned money, in the end the projects will be dead. Influencers will tell you that this project is the next best thing after Bitcoin but newbies will not know that the dev. teams have the intention to scam investors.

The best approach is to first research any project that you hear of, get information from reputable crypto sites, from experienced people and an interactive forum like Bitcointalk. As far as cryptocurrency goes, Bitcoin remains the most trusted coin and newbies should start with it then gamble with the amount that they can afford to loose on altcoins.

Qiubell5

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Quote from: Hypnosis00 on December 07, 2023, 04:57:27 PM

Therefore, we have to stop relying on others instead, we have to trust and save ourselves. Just to think that if others can make their market prediction, it is not impossible for us to do it because all the data is already available, only we need to analyze it and make decisions based on what we understand.

In fact, many people have lost their money from following these influencers claiming that they are an expert, yet they never know what crypto really is.

the need to make the right decision before jumping in and assessing the news, or influencers is very important, because the information you get is not necessarily true, because you have to assess it from a trusted news source in the assessment prioritizing the most relevant news and also clear how to convey it because in the current market conditions, do not be easily convinced in making decisions to invest, the need for broad thinking to know the latest information.

Churchillvv

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Truth is anyone can say whatever they like or feel like is the best idea in crypto especially when they feel or have something to benefit from the action what is left for every one who listens or gets informations from them is to make their research and find a better angle which will make them not to loss much.

It's always advise to do your own research and not depend on what others said, I saw a post today of two Forex experts forecasting two different things on same trade which still brought the awareness to me that nobody is a professional in this industry just have to be smart by doing more ding and not depend on those who share the information with you.

Mayor of ogba

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You did a good thing in creating this post that will help newbies identify a red flag in crypto investment and avoid unexpected losses. For those social media influencers who call themselves experts when it comes to altcoin investment, it is never a good option to take advice from them because they are being paid to hype a particular crypto project so that it can get the traffic it deserves. Investing in altcoins recommended by social media influencers is like someone playing a bet he did not predict; the risk that the person will lose the bet is high because he knows nothing about the clubs in the bet. To avoid dismay in the world of cryptocurrency, newbies should learn to DYOR so that they will be informed and know how to avoid shitty projects that will make them lose their money.

ije07

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Before investing in altcoins, it is a good idea to do your own research, which is a very important step in investing in crypto. Because currently too many people are caught up in the excitement and recommendations of influencers without understanding the risks involved and the actual condition of the coin. Moreover, with the advancement of social media today we are confused by it, therefore it would be better to look back and analyze the coin from the developer team, community, market sentiment, and partners of the coin so that we do not get caught in advertising fraud.

Topic: Time to be cautious: Everyone is not market expert (Read 2016 times)