Bitcoin Forum

In trading, we need an information and updates on market specially, if we are care about the coins we hold. My question is, will you rely to the news who came from a popular people/analysts? Is it advisable to depend upon the information of the analysts in cryptocurrency and make it as a basis in trading?

You can trust those news and updates but you should always check it from other sources, if he is the only source by that time I would not trade according to that news.

Popular people (you mean famous traders and bloggers like Ian Balina?) wouldn't have popular if they gave wrong or biased information -it's their job, actually, to make the most exact predictions and recommend the best ICOs or whatever.
So yes, you could rely on their forecasts, but don't forget to double check the info.

Consider it, but DON'T depend or base your decision with ONLY that. Just because it came from a popular people/analysts doesn't mean that it will happen. Their popularity doesn't guarantee success in trading. Do your own research too about the market, project, coin status, etc. in addition to that news and do the final decision based on all of the info you gathered.

Those interviews in FOX news, CNN or any other news sites? They are primarily making their speculation for Bitcoin while sometimes it also affects all other coins. I must say, no. Maybe their historical observation of the price movement could be precise, but not accurate because the price already isn't really accurate judging that we're all in an unstable price waves.

Try to use popular resource, usually based on how much their subscribers !

For example : I'm using telegram and I subscribe Bitcoin Bravado because it's give many technical analyze and quite easy to understand so I can decide what coin should I sell or invest

No, no, no, bad idea. You should make your own move and not relying to anyone. Taking insight from someone else is good and advisable, but completely relying on them is bad. You wouldn't gain knowledge if you're just copying someone else trade.

What's better is that learning how to trade: analysing the fundamental, technical, managing risk, etc. Those things will make you succeed in the market.

I don't think their information about crypto currency is not important because the price depend only on the demand and supply,but if there is positive news from the people that will create positive thoughts among people which can hlep the price to go up but there is no necessary that it will come true.

It's always interesting to know what specialists think. But we shouldn't rely on only one analyst. If you start reading analysis from specialists, follow several of them to have a global view.
Moreover, it doesn't prevent you from thinking and having your own analysis

We can't deny the fact that those crypto-related news and statements coming from popular people in the field of financing greatly affect the market, but this not necessarily mean that "what they say is what will happen" so I don't think these are not a sure basis for to follow. But well, there's nothing bad if you will consider these things and set it as a guide in making your own decisions, but remember, do not fully depend from those statements/news and further analyze (by yourself) the ups and downs of the market price instead.

Most of the time all so called crypto analyst and experts will force others to buy the coins that they are paid off or they were bag holding for years. Actual technical indicators doesn't work as good as in forex in case of crypto trading so its better to draw your own conclusion with recent news and updates. Specially buy during hype about big things/partnership and sell on news will come out.  ;)

Analysts (and I mean those who have a good reputation, not just any random user who makes a TA chart) always provide good info about the current movements on the market and what the next move should be, but they're not always right so don't forget to do your own research.

But, "popular people"? you mean people on social media or something?  just because someone's popular doesn't mean that what they say is right. If they have a good background on the cryptosphere, then you can take into consideration some of their advices, but never let them influence your final decision.

Overall, you shouldn't depend on what other people say, just because they have good record in crypto trading doesn't mean that you have to follow everything they say. Always remember to do your own research.

Popular people who make cryptocurrency analysis have taken upon themselves as their full time job to make those pain to bring out their analysis through continuous news reading and technical analysis. Remember their reputation is at stakes so they make sure they provide the accurate updates. It is advisable to base your opinion on trading on these people but make sure you know their reputation in the industry and besides judge everything with your own opinion before making a trading  decision.

In trading, the key to making it big is seeing information and acting on it. While its is expedient to know where to get information from people, I would prefer a situation where rather than relying totally such, I would see it as a push to qualify for validation. There is no point relying on popular people blindly because of the following reasons:

1. They are human beings too and because of that, they are equally prone to mistakes, ruled by their own selfish interest to make money.

2. The outcome would be borne by me. Whether its a profit or a loss, I would be the one to suffer it so its better I am part of the process and play a dominant role in it as well. So that in case of profit I share the glory and in case of a loss, I feel responsible.

From my own way, I don't treat any news with neglect. In fact, every news line is important to my trade because if a news line is not accurate, it becomes speculative and to speculate is part of what controls the market. I trade cautiously, thats the main point.

Never ever believe such thing but rather it would be a good indication that the price would rather react or not. No man or popular ones would able to know on what would happen on cryptospace.Informations and recent news can be attained thru net and we can base updates on that one and when those people or analyst do make their own words or fuds it is just like a typical guess or prediction on where a normal trader or people would do.

You can consider the information or views given by the crypto experts. But you should not trust them blindly and make your investment or trading decisions solely based upon their advice or suggestions. You should always listen to them as they prove sometimes helpful but after that you should recheck the information given by them from other sources. But yes the thing is we often get a sudden pump in the price when any of the such popular celeb promotes any coin in his tweet so make sure you are there to take profits from such short duration pumps but not base your long term investment on these tweets.

Yes it is but, A criteria for following anyone's analysis or prediction is to be sure the person is a good trader and has a good past record of good analysis and prediction. Only this can save you from following pump and dump individuals or group. Another important things is that everyone should make consistent research about any coins you are holding . don't just invest and sit so you will always be informed.

I am sure they are not worth as they seem to be. I mean who are these people ? They just speak whatever they are told to do so from either news channels, social publicity etc etc.

It might not look like truth but it is in the first place. These are kind of paid speculation about the different coins so it's better to ignore them. That's what I think about this.

do not stick to one source, because I've also been fooled by one source.

her example on coinmarketcal.com Ethereum Classic will be hardfok to bring up Ethereum Metal coin, but I check on her Ethereum Classic Tweeter fan page that was never planned and will not happen.

so a classmate of coinmarketcal also had an error in giving the news.

I think we should not trust entirely on celebrity updates. Not everyone is right. I will never invest by the words of celebrities in the crypto market

There is a popular saying in Hindi which means ' Listen to everybody but do what your mind says you to do ' . This would fit here nicely.
You can read their news but then you should know why those people are so confident about it. You should try and research yourself whether what they are saying has any proof or logic behind it. If then you believe what they are saying id true then you can rely on their statements.
Don't just blindly accept what they are saying.

I think we should update according to the information the celebrities posted because at least they are the ones who are ahead. They have more experience and knowledge than us, we follow them will have many things. we need to ask

Actually we must only rely to the information that was came from legit source of information and shouldn't based upon the advises of people with no presented legitimate sources. But we can get some advises, experiences and information from the pioneers of trader's and mostly they can be found here in bitcointalk.

If you put your money on the mouth of other people, it's just the same as letting them scam you don't you think?

I'd say you do your own research and make your own decisions.

Consider it but do not depend fully on their provided information and advice in regards to cryptocurrency, make it as a part of your research to come up to the best decision of trading, treat it as a piece of data it would be right or wrong analysis and speculation thread it together with all of your research and your own analysis to create your own reliable information to base in trading, it always falls in your own decision and understanding, popular people's opinion are there to help or to create FUD so be careful.