Time to be cautious: Everyone is not market expert - page 5.

odunybiz

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Quote from: Bureau on December 31, 2023, 01:28:35 AM

I to have witnessed a sudden increase in post on social media talking about random cryptocurrency. I have seen a lot of them are related to memecoins or AI coins. Some are shill post to promote coins that have failed previously. It is important that we need to be more careful than we were before after AIs have come into existence. Scammers are using them to scam innocent people.

This is why we should be very careful with the hype of any token from the social media. This has made me fall victim of a token when I just started the crypto journey. This days most of this influencer doesn't care about their reputation, what matter most to them is the money they will receive from this scammed project. Although some may not see the project as a scam one when they promote them. It's always better to do adequate research on your own before investing so you want get anybody to blame if the project turn out to be scam.

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Quote from: Luffygroove on January 21, 2024, 07:45:45 AM

The phrase 'Everyone is not an expert' holds true, especially in the crypto space, where predicting movements is at another level of complexity. Our best approach is to conduct thorough research, empowering us to take responsibility for our decisions. This way, we avoid blaming others for failures and save time, money, and effort. Entering the crypto space requires preparation for encounters with scammers, manipulators, and other malicious individuals seeking to exploit or drain your funds. Stay vigilant, as the crypto space demands a keen eye for potential threats and a commitment to protecting yourself from the ever-present risks.

Sure, no one is an expert or an island of knowledge, beside the market is all about predictions, even experienced crypto holders/trading tends to get the timing wrong and personally, I believe no news hype is better than your own research about a project. Because, after your research that is when the news hype becomes clear to you. Mark these words, there is no crypto expert who makes prediction that haven't made wrong predictions before. Sometimes we just put in too much trust on things that are not reliable, even close to 50% accuracy just because of the enticing words used by the predictor.

dlightag

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That's truth about the alt-coins hype and expecting price pump increases which may happen or not during the upcoming Bull Run market about to take place. But I was a victim during last Bull Run that makes the coins turn to zero assets and is very good to make a research about the alt-coins before investing your money.

Luffygroove

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The phrase 'Everyone is not an expert' holds true, especially in the crypto space, where predicting movements is at another level of complexity. Our best approach is to conduct thorough research, empowering us to take responsibility for our decisions. This way, we avoid blaming others for failures and save time, money, and effort. Entering the crypto space requires preparation for encounters with scammers, manipulators, and other malicious individuals seeking to exploit or drain your funds. Stay vigilant, as the crypto space demands a keen eye for potential threats and a commitment to protecting yourself from the ever-present risks.

Obim34

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Quote from: wtsimis on January 07, 2024, 10:55:30 AM

Currently we think the cryptocurrency market is booming through social media. In fact, this is our complete misconception. Many of us get distracted by the fascinating, enticing news of various social media. Various social media groups try to hype a coin by spreading the news. But before investing, an investor must research the market properly and get enough knowledge about the token and then invest.

I agree with you, most people forget we have paid marketers which this people are paid to manage through their platform, it can be that this set of persons are not even associated with the project just there to create more hype so investors can come in and invest we need to be careful when investing not just depending on the hype alone.

wtsimis

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Currently we think the cryptocurrency market is booming through social media. In fact, this is our complete misconception. Many of us get distracted by the fascinating, enticing news of various social media. Various social media groups try to hype a coin by spreading the news. But before investing, an investor must research the market properly and get enough knowledge about the token and then invest.

Bushdark

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Quote from: Y3shot on December 30, 2023, 03:15:39 AM

Quote from: cute nmp on December 10, 2023, 03:47:48 PM

Agreed people should avoid taking advices from bloggers or YouTubers especially during this bullrun .Most claimed to know a lot about cryptocurrencies advising people to buy that and sell that resulting mostly into losses because they themselves are not expert themselves. Some even offer mentorships programs for such ,so people should take care to avoid been scammed during this bullish move in the market.

The sad thing is that beginners will still fall for for the people who claim to be experts because all their interest is looking for a project that will generate money for them, beginner's are the target of this so called expert because they know what they want and already know what to tell them to capture them. But if people concentrate in making research by themselves to know what is best to accept I don't think people will easily fall into the hands of people claiming to be experts.

There are people that do claimed that they are market experts given different signals to people that are interested and they are not the ones that do come up with the signals. Some persons have already subscribers to multiple crypto trading VIP groups where they do get trading signals from and later create there own groups to give the same signals they got requesting for funds from the members of the groups. We should not be ignorant of these and always keep our eyes down watching and observing.

Y3shot

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Quote from: Sayeds56 on December 31, 2023, 12:37:48 PM

Quote from: Deddyhoku on December 31, 2023, 05:56:45 AM

Another important thing to note that influencers are not your friends. They just want to earn money on you, so be careful with thier advices

I completely agree with your perspective that social media influencers main goal is to make earning by gaining large followings and promoting projects. In contrast, there are numerous professional Financial and Technical analysts who have built their credibility with their extensive expertise and lengthy experience. Following them is worthwhile and their advice should be taken seriously.

the truth is that influencers they will always operate in social media and they will always have what to say to promote a project , the problem is that most of them are doing the work they have been paid for, they do not care if it's will be a problem to people. They do the job just because of their selfish interest. there are so many influencers but it is important to always check if what influencers are promoting is a good one or not if everything should be accepted from influencer we may end up with scam projects.

Silberman

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Quote from: Makus on January 02, 2024, 11:49:33 AM

Quote from: Sayeds56 on January 02, 2024, 10:37:02 AM

It is completely understandable that some investors/traders favor Bitcoin over all kind of altscoins even those with legit projects like Ethereum, Solana, Polkadot and Cardano (ADA). Personally, I also allocate 50% of my funds for Bitcoin and reaming 50% to reputable altcoins. This approach allows me to capitalize innovation within the altscoin sector, as well as benefit from volatility, which is often viewed as opportunity for those who have experience in risk management.

With the comments you made, it explains that you are right on track. Having 50% of your investment fund for Bitcoin while the other 50% for reputable altcoin isn't a bad idea. Altcoins that have reputation in the market are also know to be good for long term holding, and these kind of altcoins might in the future give it's holding some worthy profit. Even if I don't hold altcoins I still know what's happening in the market. But beside investing in Bitcoin and altcoins you should also make provision for emergency fund, so you'll not be trading your coins when little emergency arises.

An emergency fund is a must, as emergencies often happen precisely at the worst time possible, and someone that does not have any money in hand will need to try to get it some other way, and while the money that we have invested in this market can be used to resolve the crisis, at the same time it is likely you will have to sell your coins for a bad price, so an emergency fund can help you to avoid that scenario and will give you the security that you can deal with a great deal of negative events that may unfold.

Makus

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Quote from: Sayeds56 on January 02, 2024, 10:37:02 AM

It is completely understandable that some investors/traders favor Bitcoin over all kind of altscoins even those with legit projects like Ethereum, Solana, Polkadot and Cardano (ADA). Personally, I also allocate 50% of my funds for Bitcoin and reaming 50% to reputable altcoins. This approach allows me to capitalize innovation within the altscoin sector, as well as benefit from volatility, which is often viewed as opportunity for those who have experience in risk management.

With the comments you made, it explains that you are right on track. Having 50% of your investment fund for Bitcoin while the other 50% for reputable altcoin isn't a bad idea. Altcoins that have reputation in the market are also know to be good for long term holding, and these kind of altcoins might in the future give it's holding some worthy profit. Even if I don't hold altcoins I still know what's happening in the market. But beside investing in Bitcoin and altcoins you should also make provision for emergency fund, so you'll not be trading your coins when little emergency arises.

Sayeds56

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Quote from: Makus on December 31, 2023, 03:41:21 PM

Indeed there are some legit coins out there that are worth investing in aside from Bitcoin. But the simple truth is, I don't do altcoins because it seems I bit too risky. Just like the trending altcoin now which is meme coin, you just have to become a trader for you to have profit from it. Though there are several altcoins out there that that can be used for long term investment, but base on trend, we just have to become short term investors to profit from them. I know we are not being forced to adopt any coin so fuck altcoins.

It is completely understandable that some investors/traders favor Bitcoin over all kind of altscoins even those with legit projects like Ethereum, Solana, Polkadot and Cardano (ADA). Personally, I also allocate 50% of my funds for Bitcoin and reaming 50% to reputable altcoins. This approach allows me to capitalize innovation within the altscoin sector, as well as benefit from volatility, which is often viewed as opportunity for those who have experience in risk management.

Makus

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Quote from: BitcoinsGreat on December 31, 2023, 01:00:05 PM

I agree that there may be many scam projects but again that does not mean that all of them are bad ones. There are some good projects too and if anyone does not believe in the new startups, better wait for them to mature or invest only in the projects that have already established a name.

To further secure your investment, it is better to invest in projects that have already a high market cap and investing in the top 20 or even top 50 coins at coinmarketcap can minimize your risks to a great extent.

Indeed there are some legit coins out there that are worth investing in aside from Bitcoin. But the simple truth is, I don't do altcoins because it seems I bit too risky. Just like the trending altcoin now which is meme coin, you just have to become a trader for you to have profit from it. Though there are several altcoins out there that that can be used for long term investment, but base on trend, we just have to become short term investors to profit from them. I know we are not being forced to adopt any coin so fuck altcoins.

BitcoinsGreat

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Quote from: Makus on December 31, 2023, 12:25:31 AM

This is the more reason why we shouldn't trust anything we hear or see from the media. The world entirely if full or good and evil and there are lots of wolves in sheep clothing, inside the altcoins we hear and see, there are lots of scam project inside. So no matter the reputation of the person doing the ads the project can sill be a scam project. Some weeks back I saw a post in this board talking about Ronaldo being charged that he will pay a huge some of money just for doing ads on the wrong NFT. But when you do your own research, you stand a better chance of identifying a scam project.

I agree that there may be many scam projects but again that does not mean that all of them are bad ones. There are some good projects too and if anyone does not believe in the new startups, better wait for them to mature or invest only in the projects that have already established a name.

To further secure your investment, it is better to invest in projects that have already a high market cap and investing in the top 20 or even top 50 coins at coinmarketcap can minimize your risks to a great extent.

Sayeds56

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Eloncoin.org - Mars, here we come!

Quote from: Deddyhoku on December 31, 2023, 05:56:45 AM

Another important thing to note that influencers are not your friends. They just want to earn money on you, so be careful with thier advices

I completely agree with your perspective that social media influencers main goal is to make earning by gaining large followings and promoting projects. In contrast, there are numerous professional Financial and Technical analysts who have built their credibility with their extensive expertise and lengthy experience. Following them is worthwhile and their advice should be taken seriously.

someone703

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Predicting its movements feels like trying to catch smoke with your bare hands – unpredictable and often frustrating. My point about the current situation being a potential bull trap, a precursor to a halving-driven surge, or just a momentary blip is spot on. It's this very ambiguity that makes it both exhilarating and terrifying, a gambler's playground where fortunes are made and lost in the blink of an algorithm.

So, instead of getting swept away by the thrill of the chase or paralyzed by fear, what if we approached this with a dose of Zen-like calm and a healthy dose of pragmatism? Let's to play it safe with a balanced portfolio, straddling the worlds of stablecoins and volatile cryptos, is like finding the middle path in this digital jungle.

synchronym

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op Thank you very much because you have presented the right information, newbies will benefit a lot from your information. They are spreading ideas about crypto market through telegram or blog. Especially those who don't know much about the crypto market will believe the words of telegram or blog. It is very harmful for them once they believe. So we all need to proceed with caution in the crypto market. Many newbies will benefit from this information of yours.

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Quote from: Y3shot on December 30, 2023, 03:15:39 AM

Quote from: cute nmp on December 10, 2023, 03:47:48 PM

Agreed people should avoid taking advices from bloggers or YouTubers especially during this bullrun .Most claimed to know a lot about cryptocurrencies advising people to buy that and sell that resulting mostly into losses because they themselves are not expert themselves. Some even offer mentorships programs for such ,so people should take care to avoid been scammed during this bullish move in the market.

The sad thing is that beginners will still fall for for the people who claim to be experts because all their interest is looking for a project that will generate money for them, beginner's are the target of this so called expert because they know what they want and already know what to tell them to capture them. But if people concentrate in making research by themselves to know what is best to accept I don't think people will easily fall into the hands of people claiming to be experts.

Well said, but it is not only beginners who are victims of these so-called experts, even those who are experienced but don't believe in themselves. They are such that will be style-drifting and will want more, so advertising the supposed package/plan to them makes them fall easily. This is not entirely wrong though as some people are benefiting from mentorship and all that, I even have some friends that are paying for it and will gain more knowledge and firsthand information and services about some valuable things. But for me, I don't fall for that even as I am not easily convinced about anything because I have a strong mind.

I am the kind of person who will hardly get convinced of anything by anyone but by myself and rather prefers to explore independently until I achieve the goal. The good news is that it is working for me. Had it been they had been failing, I would have been forced to do otherwise. And specifically about cryptocurrencies, we should be at alert, what we see might not be as it seems, so we have to do our own reseraches and not freely fall for whatever is presented to us.

Deddyhoku

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Another important thing to note that influencers are not your friends. They just want to earn money on you, so be careful with thier advices

odunybiz

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Epsiloan Protocol

Quote from: Sophokles on December 16, 2023, 06:37:16 PM

Quote from: odunybiz on December 16, 2023, 05:52:09 PM

Quote from: Sophokles on December 16, 2023, 05:42:00 PM

Quote from: odunybiz on December 16, 2023, 05:31:35 PM

Blogger and celebrities are been paid when they are used to promote a token/coin. That means they are doing their jobs. Have once fallen into a scam because it's being promoted by a celebrity, although it isn't a crypto scam. So since then I never believe any blogger nor celebrity to invest. I will rather make my own research to invest.

Those bloggers who are celebrities need to take responsibility if they are not mentioning that this is a sponsored video. In most cases these so called influencers promote the project in such a way that their followers think they are also investing in it. Those influencers also mentioned in their project that they are thinking about holding those projects for the long term when they haven't made any investment in them. Everybody doesn't have the knowledge to invest in crypto project so they follow some influencers they like so if those influencers giving financial suggestion to their community then they should have take the responsibility as well.

That is why one should me mindful of whoever he/she follows online. You can never see me following anyone online no matter how popular you are. Any mistake I made base on what they promote, never count on them. Why will I be losing while they are making money.

We also have to understand that people have different mindsets, and everybody is not willing to take on the responsibility of failure. So if the trade goes bad they simply accuse the influencers but if they make a profit from it they take credit for themselves by saying they made the right choice in time. This two-faced people are the ones who are most affected by these influencers. Influencers fasten our information-gathering ability but we should take our own decisions.

We aren't saying that all influencer are bad or promote scam project. There are some that are mainly after the success of their followers. But the main thing here is not to rely only on information gotten from influencers. It rather better for one to DYOR on any project promoted by any influencer before investing in it.

Y3shot

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Quote from: Makus on December 31, 2023, 12:25:31 AM

This is the more reason why we shouldn't trust anything we hear or see from the media. The world entirely if full or good and evil and there are lots of wolves in sheep clothing, inside the altcoins we hear and see, there are lots of scam project inside. So no matter the reputation of the person doing the ads the project can sill be a scam project. Some weeks back I saw a post in this board talking about Ronaldo being charged that he will pay a huge some of money just for doing ads on the wrong NFT. But when you do your own research, you stand a better chance of identifying a scam project.

Some project the strategy they use in getting people is they use people with good reputation to market their project and this makes people to so much believe in the project . People shouldn't think because of a reputable person is promoting a project that makes the project to be real. Sometimes influencers know nothing about what they promote, they just do the job they were pay for and asked to do.

Topic: Time to be cautious: Everyone is not market expert - page 5. (Read 2016 times)