Bitcoin Forum

Be careful of the influencers you follow on social media like twitter. There was one who was exposed recently of photoshopping his trades to fool his followers and get more subscribers to his paid group. He said he did that to make the images look better hehe. Please follow this thread https://twitter.com/Trapouts/status/1238598898559488000

Cointelegraph also covered the story https://cointelegraph.com/news/crypto-analyst-accused-of-photoshopping-trade-screenshots.

There will always be scammers who will take advantage of people's ignorance. Let's prevent that from happening to us by learning how to read charts on our own and not solely rely on free and paid signals from random people on the internet.

most influencers are not technical analysts but 'trend anals'
they stupidly just draw a line on a chart based on a random number of days of their choosing of previous trades and pretend that history repeats itself.

these 'trend anals' are better known as pump and dump groups. they are not predicting the future but instead trying to create a narative and hope people program their bots to blindly follow the narrative so that its the followers that create the situation.
thus not predictive but creative

having a line on a chart where the only piece of data it equates to is historic chart data is meaningless.
there are many other things that contribute to making the underlying value such as the cost of creating bitcoin(mining) and other things like monitoring the cold wallets of exchanges to see if they are at high supply or low supply.

however. if you are getting this information from some youtube influencer who spend hours glamourising charts, recording the video and then uploading it. then by the time you have seen it.. the data is old and too late and those who seen it first have already acted on the real information and are most probably just promoting what they desire as the after effect

EG if the price is dipping, they buy.. then they promote it hit bottom and people should then start to buy on the rise.. thus them other people cause the rise. for the initial person to sell at profit..
only after selling at profit would they then say the high hit the top and others should start selling. just so the first person can buy the dip again and repeat.
this is standard pump and dump tactics
so the best advice. dont be a follower, because your going to be the last to know and have most to lose following old data

Although I began using crypto many years ago, the first time I've ever played with the charts was somewhere around 2017-2018. At the time I also started following a few Twitter profiles, the "most successful traders" out there.

I first started by only taking a look over their predictions, taking notes and then coming back from time to time to see if their predictions came true.

What I found was pretty astonishing: the traders really did predict very well every single coin's move! Any signal came true, it was like you knew the future!

But that was because BTC and alts were going through a very bullish market. Any trade you would've gone for was a profit. Hence, most traders were going only for "purchase X coin!" signals and all of them were right.

Months later, the market went bearish. Very bearish. And guess what: these guys' predictions just vanished off Twitter as if they've never even traded before...

Lesson learned: most "crypto traders" are just guys who were very lucky to take the right moves at the right time.. there are only very few traders out there who have some really good history of successful trades and only very few misses. Hard to find them.

Before someone started to trade, there are basically trading rules to follow. And the rules are messed on how you can trade and minimize losses but maximize profits. It is all about how to have certain discipline in order not to loss by making profitable anlyses and predictions. Why all these, if trading should be the work of analysts. You call them analysts but they are scammers. Anybody can lose in trade and nobody is accurate than you learning it. It is easy to scam people this way, but, newbies are mostly scammed. The best is to analyze yourself and follow trading rules. If you do, it helps you become a good crypto trader than falling victims of scammers posing as a good analysts.

He admitted he photoshopped yet there are still people following pay to be just in his paid membership group! Sweet. This can be done and he doesn't even have to photoshop anything if he just go there in the Wall Observer thread and then posts in his twitter whatever is posted in that thread. Easy money for asking $10 for each member.

So much publicity for the drama of Canfield and King that cointelegraph has to publish an article about photo manipulation.

I believe in this post for sure. Being a good trader is about making little losses and big profit. Nobody goes into swimming with their eyes closed because if you do so, you might hit underneath rick. Therefore, you trade with care, not to put all your money chessing little profit. Paid group for signal is just a new found business.

Seeing tons of useless pieces in youtube and other medias lately and some people are believing on them like what the hell. There are reliable charts to based on and there is nothing wrong to be influenced, what is wrong is found at these influencer coz some are just doing it for their personal advantage towards their audience creating a big scam speculation and creating a back door. I'd better be spending time reading and analyzing than hearing any of these 'influencers'.

Never believe and never trust easily most especially if you don't know the person or the account. Some analysts are trolls or fool you to caught your trust and attention and you will become their victim. Learn how to trade with your own and don't let your actions be affected by the other people. In order to become a responsible and legit trader, you must create your own plans and decisions and think of the things that will help yourself grow. Help yourself learn in trading, help yourself analyze the problems and make a solution for it. Don't rely on others, don't rely on analysts because they will just ruin your opportunity to earn money with yourself. Scammers are also those analysts that will put you to a big losses. Make your own prediction so that all the credits is yours and you will become accountable for your strategies and actions in trading.

Trust me. People didn't need to photoshop anything to be frauds. I've seen first hand a supposedly super exclusive, super whale super whatever rope people in, and showing years of profit and buckets of analytical advice and "calls". Then I sit in the group myself for three months (plus a free fourth month wow) and see absolutely no shred of evidence proving they're any better than the rest. And in fact, when making every call they put out, losses were huge.

Called out the owner and he actually told me I literally (yea, literally, he said it) chose the worst three months of all the history of the group. I was gracious and simply left. I satisfied my curiosity and proved what I'd always suspected all along.

They all fall. Eventually.

A very detailed explanation, this information is very important for new investors or anyone who has just joined the crypto ecosystem so as not to get caught up in unclear signals. The basic ability to analyze and utilize indicators on charts is very important as an effort to get the right positions to buy and sell, so it is not easily affected by influencers or paid promoters who are less competent and only use it to manipulate their tactics. As you explained, they say buy after buying before and say sell after selling it first, to manipulate the opportunity so that you can get the price below again. So we have to prepare our abilities well, don't just rely on signals to get the best opportunities.

Thank you friend's information because this is very important. For new people who start trading Crypto assets and do not analyze them will surely be deceived. The fraudsters are now smarter in cheating actions.

In the trading of crypto assets, I do not follow free and paid signals. For me to do trading Chart analysis myself is very important.

If you have any doubts you don't have to follow such a group and it will only make us lose money easily.

This kind of activity is already present way back then.

People should now be used to see this so-called analyst and professionals.

That kind of doings won't stop so it's better that people will use their common sense to determine if some analysis is good and worth reading. It's not wrong to follow for gathering knowledge purposes, just take caution when doing that.

That's like the most basic skill you should know when you are on the Internet. When in doubt, do your own research, also don't go giving away your attention and time when you know that you won't get anything from them. Information dissemination should be regulated and don't forget to use your common sense, stop following people blindly.

Everytime when these so called gurus says Bitcoin will go up it always goes down and when they say it will go down it goes up. I have noticed charts never work in crypto. It is always the news and historical data that can easily help you to understand where the market will go. I do not follow anyone in particular and do not plan to in the future.

It's an open secret if you have been in the crypto verse for quite a while and you understand trends vs. markets, you'll get to notice that some of these influencers will support their claims and analysis without any valid chart analysis.

They all base on the market trends and if you somehow find that they have an agenda to sell or shill something, you better get off and stop following them. That's how they milk with their audiences.

I think it doesn't make sense of successful traders to share their 'secret sauce' to many people thru Youtube right? So I don't know why there are people who still followed this so called experts trade and presented itself as if they are really doing good in their trading. I wouldn't even put 1 sat for those who claim to share their trades and help others become successful.  It's all scam!

Cashing in on their "secret sauce" makes sense to them but before going public with their "expert analysis", they already bought when the price was cheaper. @franky1 has a more detailed explanation on this.

Many subscribers to these groups are somewhat brainwashed in believing that these "experts" are only trying to help.

You are correct. The fact that people believe such things said by self proclaimed people is a sign of stupidity of the people using crypto. Now there are some people whose prediction may end up being correct but these are luck by chance things and not always based on any fundamental or technical stuff.

Often the stuff said is just paid promotion of a project. If it is about an altcoin then one can be fairly sure it is such a propaganda. Better to always do your own research before investing.

if you want to be successful in trading and investment with your money then you must not even look at any social media for "analysis". they are simply ALL bad but the degree of it is different. majority of them are idiots who have no clue about the market and in some cases they don't even have any money in the market! they just create content and earn money as you follow them, watch their videos,...
that is why i dislike the term "influencer" used to describe these idiots. the only thing they influence is some newbies who fall for their scams.

This is not cool:-\, I can't believe anyone would do this kind of thing just to make lies, but anyway we are not really relaying to his trade and I think no one care.

Link for some of the photoshop images:
https://twitter.com/Trapouts/status/1238598898559488000
https://i.imgur.com/EJ3HAbV.png

On another forum,some "crypto trader" is promoting his paid Discord chat.The membership fee is 20 USD worth of Bitcoin or Ethereum and he promises to share his profits with the premium members of the group.
How can people still believe this BS.Do you realize how easy it is to create a fake screenshot of a successful trade?There are paid Telegram "crypto trading" groups as well.Beware for this scam.I'm glad I don't use Twitter and I don't follow social media "crypto" influencers.

if someone needs to make money from memberships. then they obviously are not making enough money fro their own trades.

so here is some free advice
dont follow chart data that is just them crappy 'ma[number]' .. this stuff is just using price data and pretending it repeats.
the actual reality is the influencer is trying to coax people to cause a repeat. its not a prediction, its a trigger.

what people should be more aware of is the mining costs.
if the market price is near/at best value mining costs. then the market is strong. and usually those that cant afford to mine so cheap end up just buying coin. thus positive price rise pressure.

when mining is super profitable. those who cant mine at the cheap, begin to notice they can now afford to mine so they stop buying and mine.. and those who can mine cheap are getting alot of profit so they sell
meaning less buyer and more sellers=price drop


thus
if for instance mining was $5k and price was $9k expect that as a high and ready for sell off. (price drop)
if for instance mining was $4k and price was $4.5k expect that as a low and ready for buy up(price rise)

this 1-4k 'margin' is the speculative layer that is volatile and swings depending on profitability and emotion.
i have yet to see a time in the last 4 years of checking mining vs price where the price has dipped below mining cost.

yep.. thats free info. no membership. no thanks or glory needed and not just some dumb trade anals MA chart pump and dump.
just plain old common sense
(if gold could be mined using a spoon and a coffee filter in someones own backward for $1 an ounce... gold prices would drop to $1.50 an ounce quickly. if gold cost $2k an ounce the price would be $2.5k.. right now gold is about $900 an ounce to mine which is why gold is market at above $1k. and not just $1.50 because its not actually cheap to obtain gold.)
as i said common sense

right now the big pools are testing out s19 miners which are more efficient(cheaper) than previous generations. so the previous $5.6k mining cost has now dipped to ~$4k
so the logic of then seeing the markets price and the timing of such a dip is just common sense

The financial markets authority warns savers against crypto -asset sccams : 700 individuals have stolen more than 31 million euros since the beginning of the year!

Indeed, I recommend to everybody that wants to invest in some particular projects, you should study on your own and do not settle for an analysis of someone, because you can do it on your own. It is important for someone to study and have knowledge about what they are going to do with a particular project, by simply getting some proofs if that project really can survive the market. You can visit their website or you can also read their whitepaper where the information about the project stated there.

In my own opinion, there are still analysts that are honestly giving their feedbacks and knowledge about that particular project, by showing some proofs and reason why you should trust that particular project. It actually depends on a person.

This is not 2017 where celebrities lure people to a project that they have been heavily paid to promote, whereas they themselves will never invest a dime on the project. Let celebrity shill a coin and that coin will be dumped by the community and that will signal the end like this community have abandoned Savderiod after pulling a scam stunt. Following chart and analysis on social media is a pathway to early financial wilderness.

This will happen if we follow the signals made by others, this situation will be utilized by scammers. And indeed it's easy for scammers
to look for victims, because most newbies really want to make profits in an instant way. Which one there is nothing in the crypto world
that can generate profits instantly. All have to go through a process, therefore I am very grateful with the article in the opening post.
In order to open all our minds, so as to avoid following other people's trading signals, better to do your own analysis to determine the
coins we will buy or coins we will sell.

It’s best if you don’t trust your cryptocurrencies at all to anyone other than you, because the most serious people can turn out to be scammers. I remember how one person who had been engaged in confidential trading for about 2 years or more disappeared with more than with 150 bitcoin from people.

True, many fraudsters try to manipulate the situation as if they want to help, even though it is misleading. It's better to study independently, or join an official local community in your city, or discuss with more experienced friends, that's more appropriate. With the ease of disseminating information through the internet and social media, we must be more selective and wise in taking the truth out of the information that is widely spread. Do not easily believe, use independent analysis.

I can't believe they will come to the point of editing their technincal analysis just for the gain of the followers? Whay's wrong with these people? I also unfollow some of bitcoin analysts who always had wrong predictions and followed their wrong trades. I was fool back then by believing some of their tehcnical analysis.
 
 The best thing we can do is to learn how to read technical and fundamental analysis. In that way, we can confidently stand our trafes without following any btc analysts who mostly were faked. Realtalk.

Yup. Also these influencers many times just follow trends such as whales manipulating the market and promote these dips and bumps, making these effectively more successful. If there's something I've learned in this forum is that whales have strong control on some of these price swings and we shouldn't play ball with these.

It's always better to have your own strategy, you'll definitely see the most earnings that way.

Well, I'm quite surprised how people still fall for such cheap scam all in the name of looking for technical analysis, the downtrend that has been perculiar to the cryptocurrency market have proven many times that technical Analysis can't work for now especially during this dip. The market is a bit complicated now and everyone is in a survival mode, and when you're in a survival mode, there isn't much space for words like us, we and community but just for words like I and ME. So photoshopping fake trade screenshots are just a way of trying to survive for them scammers, it is your job to stay safe and avoid greed getting you scam

On the other hand, the fact remains that both fraud crypto analysts and legit ones are not really catching Bitcoin's next move. In the end, you may know how to read and analyze charts, closely follow the known personalities in the field, and effectively catches the misleading frauds but then you may still end up relying more on luck. Before the extreme fall took place, legit and popular Bitcoin personalities are hyping up on the upcoming halving and predicting high prices complete with detailed explanations. The following day, everybody woke up with Bitcoin losing all of its gains in 2020.

That is what happens on the internet. I have seen before. People could get anything from the internet, and they can also use it for their purposes. Sometimes we see someone analysis, and he says that he made that analysis, but the truth is, that person got that analysis from the other people, and he stole that analysis. I think it is happening not just in the crypto world, but it's already happening in many things on the internet, and perhaps, you will get more if you spend your time to browse the other things.

Yes, we need to learn by ourselves about how to analyze so we don't depend on them because we don't know if they really could analyze the market or not. We don't have to believe them if we are doubt, and it is better we analyze by ourselves to find the time to enter the market.

scammers usually offer quick and suibstanial profits to investors and know how to be insistent.cases of theft of identities are also examined, for example intermedite impersonating an existing law firm to make custmers feel confident before rippnig them off.

Indeed. There's no certain behavior that we can easily detect the next movements, even we are following personalities who are known from this field, they can't  continuously predict the correct price from time to time.
Do your research and always base your decisions with your own understanding. Experienced will guide you to learn to assess your judgement.

This is how they work and do mate,Pretending to be helpful but the truth is they are just a  piece of sh*t that tricking people for their own gains.
for how many years they are existing and bringing falls hope to many specially newbies that has no idea about what crypto market is all about.
technical analysis is not that easy to learn but at least we must try if we want to be a daytrader .

I don't know how one would be able to analyze Bitcoins , I do think the it thing they can do is to collaborate with the big whales , pay them up for some inside information.
This way they can predict the next price change ..
Because there are very few events that are promising , promising ' not sure.
Like how we were discussing about if the Halving would make the price of bitcoins double or would have no effect at all. .
Bitcoins is supposed to be an independent currency not Fiat 2.0 .
They can make a good guess using the past senario , but they can never be sure .

There's a lot of them online, I hope people will be aware of that and instead just make their personal analysis on the market.

Some analysts have a lot of followers but that doesn't mean they are right all the time, as investors we have a job to re evaluate their analysis before making a decision, not just following them blindly because that's the best recipe for disaster.

Thank you for your insight franky1. I never looked at the direction of the market from a miner's perspective to be honest. The strategy actually makes sense and it is the same with trader's and investor's "buy low, sell high" approach. No one in their right mind would sell below cost unless it is an emergency. The trick now is determining the average mining cost. I have zero experience in mining and I would like to ask how you were able to come up with the $5.6K previous mining cost and the ~$4K estimated current cost?


20kevin20, thank you also for sharing your experience. A wise man once said, "Everyone is an expert during a bullrun" hehe.

Many have fell and many are still falling to scams and what have you. Followers on social medias should be a personal issue which should be coordinate with the person in charge, they should be the one to decide if they want to be scam or not. I follow many of these guys on social medias but yet not be scam and not will it happen. We should be  more careful about what we say or people say and then we follows, do your own research before venture into any deal with anybody on social medias. Many of them are well known scammers from ages.

Wow, I did not know it was a thing, thanks for sharing this. The account doesn't exist anymore, but the problem could be common. I don't trust technical analysis, and I don't believe anyone can systematically make good predictions based on it or anything else, but I know that many people trust this stuff, and photoshopping the trades to look more successful is outrageous in any case. It's funny how the article ends by Canfield promising to stream his future trades, but his Twitter account is deleted.
It's also worth noting that the tweet by King says that this Canfield is a scammer whereas whoever did the TA for him isn't. In a way, isn't all TA a scam, just a more hidden one (kind of like fortune-telling and stuff)?

Thousand ways try by scammer how to get much money with presenting about their telegram news channel discussing and giving information about bitcoin and altcoin price day by day, I think is enough for hearing some one else to buy coin and try by analyze with self and get much profit because many coin have chance to get earning.

Here you go again. ha haha :D
That is the example of those people who already lose control of their own greediness and want to follow those scammers blindly. I always recommend people to do not follow crypto influencers or any trade bot who promises you for profit. It's a common thing why anyone show you how to profit without loss. Don't you think if it's real then, they did every single time until they'll reach worlds richest person. It's fake or they are using you because of them self. Nothing else. So read carefully OP's post and stay away from those kinda stupidity thing if you don't want to lose your asset.

Yeah, most of those so called "professional crypto analysts" are just total frauds. Trust me, I have seen a lot of people who claim that they are crypto analyst that can help people "make money", but in real life they are just some random kid giving out random suggestions. Sometimes they get lucky. When they get lucky, they tried to lure people to pay him for further "analysis". All of them are just pure scammers. Again, there are also some "analyst" that are biased towards coins they have invested. There are also people that get paid to shill for projects and they actually do it.
That "hehe" part you wrote sounds werid.

It's cool to see how he's been pointed out. I just went through the twitter threads and go to know more about what went on. But then, I kinda think this isn't the right area for this thread. (just saying; don't take it personal).

Recently more countries have started to give importance for the usage of cryptocurrencies. Particularly few countries have made the cryptocurrency trading legal. Using this as an opportunity there'll be more and more people waiting to trap people who aren't much aware about it. This happens in the form of claiming themselves as the founder of several multiplier schemes as well as analysts who predict the market changes precisely.

For me that is not good in technicals to predict price movements i dont trust most signal groups, i only trust Crypto influencers from youtube that's doing live trading technical analysis and has a good supporters and subscribers. That's mostly makes good calls and shares nlknowledge about the upcoming financial crisis, thanks to that crypto youtuber, i've switch to Bitcoin before the great depression.

Does anyone still Buy stories of those scammers/Misleading?

i quit reading TA's for long now because i felt like being fooled anytime they send Graphs mostly repeating the past and they will claim to be legit when it happens but if now?they will just ignore the bashers and wait for another chance to release next analysis.

be Mindful guys and learn to read market your own to keep your money safe because nowadays?there are no trust worthy people in this market but ourselves only.

I don't really follow those crypto analysts or TA's.
I am tired of their post a non stop prediction when the market goes up they would start on posting some prediction on how high it could get and when the price starts to decline they would also do the same.
It feels like they are only picking some random number to combine with the trend.

I never trust those crypto analysts before and even those Telegram groups that claims to be a pro traders.
I only see them as a user they only use their influence to control the people to make them buy some crypto to pump or dump the price.

There are bunch of funny people these days and Photoshop is helping them do the work they are doing, which is deceiving people lol. Everyone these days has to be very careful, cause most of the so called influencers are so fake and not worth following.

I have even unfollowed all of them on Twitter when I got to discover this, all they mainly do is just lie and create wild speculations and deceive their followers. I am just tired of it and this time around I just do my research by myself and when I can’t do it I just relax and take whatever I see. No time meehn :o.

In the world of internet many people that we encounter online are just pretending to be someone, using other's identity or anonymously interacting with us, so that we need to become an observer on the people that we talked online, and we need to protect our private information to them. Before giving them your information to the influencer make sure that you asked their information or ID'd that will proof that their are a legitimate crypto analysts.

Cryptoanalytics for 2 or more months is already something similar to fraud.

You don't even need Photoshop skills. Trade history can easily be manipulated by pushing F12 on a Chrome tab and editing some text.

I usually take a trader with a grain of salt whenever they start talking about how professional and profitable their work is. I know only a handful of legit traders that have correctly predicted a ton of stuff; the rest is usually just out there to promote their books, courses or whatever else. Meanwhile, some of the best traders give free advise and signals through social media. Hard to mistake one for the other.

Everywhere in crypto space, you will find scammer or dishonest guys! This is why you have to be smart enough and learned well about the crypto industry! This is another reason why I stopped following every crypto expert and signal giver, now I only listen to my brain. Sometimes I do mistakes, but that doesn't hurt me a lot! As the market is dump and halving is coming, so you will see many new or old expert giving signal regularly, try to ignore them by developing yourself! 

Thats a good approach. But do you have the skills to analyze the market?

Let me show you properly. When you start to learn how to read indicators and predict the market based on technical or fundamental, you will find out that even though you are putting in your best efforts you are get a 50-50 win chance. Then the thought that will enter your mind that you should just sell your analysis to others to make money instead of using it to lose 50% of the times. Got my point?

Why we should listen to them while we can learn by ourselves about bitcoin analysis, it is better we do by ourselves because they are not always right, and we don't know if they really have a skill in analyzing the market or not. You can read all about the analysis from them, but you should make your own analysis so you can compare what they say, and you can find more information that could be useful for you. You need to be careful when you read analysis from the analysts and don't trust 100%.

Do you still believe in this scammers?analysts that only bringing stupid analyzation about the prices and  movements to favor their own investments.
Sometimes trying to be Hero that will promise us profits but in the end?scams lol
Though it is hard to learn but that is the safest way for our money not to victimized by this scammers.research and study hard before we enters investing in crypto market.

The Twitter platform is already use as a great cryptocurrency platform in sharing information especially in cryptocurrency we could expect popular companies, teams or projects have its own twitter account for updates and also for sharing the progress of their project or token. Either way twitter account could easily just made even for scammer and just like other social medias, obviously their is a lot of scammers here but we could easily see the trusted or legitimate account here in twitter platform.

It is found difficult to trust people pretending that they are an expert or everything that they called themselves and ask for us to join. Well, that be talking money in the next step for sure. This is most scammers do especially when you'll keep asking their help.

Does social media (just like twitter) could actually help us to know more about crypto? Of course, it well but somehow some people have making this thing to take advantage of the young minds who do certainly not know about this field. It could be easy for them to manipulate their minds and in the end, you are just giving your money without any single return. We have to think about it.

People will manipulate you and take advantage of you when you don't have enough knowledge. They will make you believe that they deserve your trust by giving you empty promises, things that seems too good to be true. We should be aware that even the person we consider as friend can stab our back, it just means that you can't just trust a person's words online because you don't know their real intentions. People shouldn't just rely everything on other people, sometimes they have to explore on their own to learn.

yepp. Just make sure to follow those famous analysts like cryptolark..

Following others should be at the lowest priority in our bucket list because we must know the hard fact that if somebody is advising us for something then he must have done that already. If a trader is advising you to invest in a coin then he would have bought it at a better price already.
Don't you think that the influencer would be using the analysis himself first then be publishing it online.
Besides that, if the trader gives out a false analysis then you are the one who is going to bear the loss.
If you are able to use the internet then you are also able to learn trading and analysis yourself which would be a much better thing to do.
You will not only be able to do the analysis yourself but also bust other traders who make false analysis.

It's good to be informed and it's good to read some analisys, that might be helpful.
However, to rely only on analysts might lead you on a wrong track and make the opposite effect. Not all so called analysts are experts and don't have the hands on experience with market so if you make your decision how, when and how much to invest only based od such analysis that might not be good for your portfolio.

The risk is really big when you are not in control of your trading table, Imagine you are walking around the park coz somebody told you that someone left a cash somewhere within its vicinity, how ridiculous isn't it? I'd prefer personal analyst than random people online who are trying hard to predict with their bare experiences, those who are paid are more technical and historical. But for most try to be an analyst on your feet, you can learn pretty much more than listening to someone else and it really helps personally.

Making decisions using patterns and indicators that you do not know is one of the fatal mistakes in trading and investing. Moreover, unstable traders who only went along with trends or instructions strangers on Twitter or telegram blindly (pump and dump signal crypto)in order to get big profits without considering whether the strategy is right or not. If you are still like that, just rely on the opinion of "influencers" then be prepared to lose. Try to care more about what you do, discuss with experienced friends, expand the network, it's better.

I agree with you. Let us be aware of the things that can help us avoid the scammers. Always be updated to the news. Learn how to secure your accounts and protect your privacy. Read some articles about the things scammer interests most and don't click suspicious links that redirect to an unknown websites.

There are a lot of influencers like that and one thing should be in mind, never ever trust those influencers especially in social media platforms because the reality is they know nothing about what they are doing(the majority of them) and they are only luring people to their doom with their charisma.

Things like that have existed since a long time before bitcoin existed. People have tried to con others and get their money and run a living with these scams like how to get rich and all. If you do a search on Amazon you will find books filled with titles like these and concept behind them is to get rich by selling the book which tells about how to get rich. It is a nice scam and some wannabe noobs fall for these scams.

You have to use your judgement to decide what to take and what not to take. Use that brain that you were born with.

That is why I don't use them as my main analysis because I've always made my own analysis, and I also read their analysis to get more information. Sometimes, their prediction can be right, especially if we can gather the information from someone who tells the right thing about the analysis. But sometimes, we can feel a lack of information because we need more time to get more information. If that happens, I think I will use my analysis to determine the time to trade.

Lmao this is so damn true ;D. There are lots of scammers in this space, and I have seen a lot of them. I don't even have time to be following any one of the so called influences or whatever they call themselves, because I already know what they are.

There are some of them who are not true technical analysts, they are only good at making speculations and nothing else. I am not going to be mentioning their names, but they are the ones that will come on Twitter and say that the price of bitcoin will soon reach $500,000 and be deceiving people and when things don't go as they have said, they start whining that bitcoin is fake lol.

Something that even a layman can do after knowing the meaning of every term and having watched the market for a month or so. Then they go on advertising themselves as some financial advisor. Suddenly this person is so famous because they run a telegram group and gives out free and premium technical advise. Sounds familiar? Its the same scam some people have been pulling off. The worst thing is that they even give out their premium "advise" for free after a while once people have paid for it. Nice way to scam.

There are also the propaganda shills who plague reddit and make r/btc sound like r/conspiracy.

I like Twitter for broad topics, about influencers whether in crypto and other investments that offer great profit, I ignore them. I prefer to learn on my own that if I fall it is my responsibility.
A true influencer can offer some of their free knowledge on twitter and there you can prove its veracity.

What i say is dont follow this frauds , they are 90% success rate they why the hell they are selling services

Newbies and lazy people follow this fraudsters for easy money and gift there money to them and lose everything

In 2017, my friend and I followed some influencer and we bought tons of lending coin, well these guys were paid in bitcoin and not in the shitty coins. This was a hard lessons we learnt. Today we do our own research and run away from self serving influencers who are out to make money.

I, like many here, started by looking at cryptanalysts, not understanding the very essence of this market, and from the beginning I was only losing money. I would simply formulate - it is not possible to immediately understand - a cryptanalyst-scammer or person is simply trying to share his experience. It is necessary to understand that any analyst shares his personal experience and his own vision of a particular situation. You can warn people about fraud as much as you like, but new people come and make the same mistakes. My opinion is that the area of ​​forex trading, exchange trading and cryptanalytics, this is an area in which, at first, the need for loss of funds is natural. A person must, through his own skin, feel the whole essence of the problem. It’s like a kind of tuition fee. Someone begins to understand earlier, someone later. It's just that swindlers very well use all the subtleties of human psychology, for this life is given to learn from mistakes. Fall to err, but rise and move on with the experience gained.

It's very funny how they advertise their trades and the profits that they make out of trades they have executed. Most of them are lies and you should never heed to their calls. I had me a friend who used to tell me how much he has been making from some investment platform yet he is now asking me for money  ;D. This industry is full of scammers so y'all better stay safe!

I have always known that most of them are fake and are living fake lives on social platforms.
But, when you meet them in real life you will know that they are worse than you lol. There are people who would do anything to just get famous on Twitter, Instagram and Facebook.

People just need that fame no matter what. When it comes to the cryptocurrency community, there are some influencers I do see and they will be saying things that are not even possible to happen anytime soon or at all. They will just say these things and mislead some of their followers who follow them sheepishly. When these people say something, it's best for you to do your own research and not believe them immediately.

The best way to avoid scammers who make trading signals on social media is to learn how to read charts and learn using trading tools.
That way we can judge whether the trading signal we get is real or fake. There are many benefits, after all that we get if we can analyze
the market with its own capabilities, and the results are more accurate than joining a paid group.

The main problem is; most of the newbies and those dumb traders are often believing and following the tips of those self proclaimed crypto analysts and gurus in all over the internet. They are vulnerable to losses because they do not know how to read charts and analyze trends.

Observe most of social media platforms specially telegrams, there are many crypto trading signals groups and pump and dump groups that are victimizing newbies in the market. I recommend specially if your knowledge is still not enough, focus on acquiring knowledge and do not believe to those self proclaimed crypto analysts.

It's a dreaded cycle to say the least, newbies fall for dumb traders and it goes on and on. And even those dumb traders are going to be exposed, they will continue with their gimmick because they know that someone can and will fall for the trap.


That's why to overcome this, one must learn technical analysis or at least some basic knowledge of it before you entering trading itself. And then continue to grow and learn as you go along with it. So that you won't rely to those so called experts.

I wish everyone in crypto would be like that but we tend to have more of those who like to depend on other and follow that "copy him and I get rich" attitude. I believe they got this from copying answers and passing school  and with this mentality they copy influencer quotes which are more or less questionable.

Free knowledge is available everywhere on the internet. The problem is that the social medias currently have become breeding grounds for these self-proclaimed influencers who promote stuff to get paid and make it seem like that thing is too good while in reality they dont even care about the thing but only in the money. Some people are literally running their lives like this.

Truth is, legal scams have existed like this since a long time. But people never learn.

I appreciate you  friend's this type of information is very important for new trader who start trading in Cryptocurrency. Every trader need to learn Technical analysis Because without technical analysis a trader Can't successful in his/her trade. If every trader use their own skill in trading i think this type of cheater can't fraud anyone.
And do not follow any signal group.I do not follow free and paid signals. For me to do trading Chart analysis myself is very important.

actually technical analysis doesn't work for cryptocurrencies as well as you may think. just take a look at all those who are doing it every day and their accuracy percentage. this becomes even worse when it comes to altcoins because the altcoins have the additional downside of being pumped and dumped which makes everything that much less predictable.

This is the reason why I don't trust anybody even these so-called "experts" are not trustworthy for me.

I'm not good in TA when it comes to crypto but it is easier to apply TA in stock market because it is less volatile than crypto. Crypto analysts?? Maybe crypto analshits. There is a famous quote created by MLK and he says "Nothing in all the world is more dangerous than sincere ignorance and conscientious stupidity." Those who are ignorant people will always fall into this kind of activities and those who have the time to do some research will experience the opposite.

Today the number of users is rapidly increasing regarding with the use of the bitcoin and the whole cryptocurrency because they know the potential of having a huge income with this also there are a lot of people making amounts of money with the use of creating pictures, video and other contents that are related into the crypto which is some of them are just doing those kinds of stuff just to make earning to their videos, pages, and channels. @OP if you want to learn more those watch only to those videos only wants just to promote find some quality content videos to help your selves too. Also most highly recommend is make your own research this kind of way is most effective in the world of crypto and earnings especially if you want to make trades because learning and experience are one of the most teachers you have. By those learnings, you can now avoid getting lose your funds by your experience you can now make critical thinking what are the next move you will do. For me this is the most essential thing for making a lot of analysis than asking other people who do not have enough capability to make a concrete answer.

If you want a legitimate crypto analysts, social media is not a go-to place because anyone can say what they want to say there to gather people and make them your followers, there are sites where you can hire crypto analyst though I don't know any. This is the reason that influencers are shone on in a bad light, there are people willing to lie just to gather these clout. My advice for you guys is that whenever someone on the Internet gives free analysis about something be it stock market prediction or bitcoin skyrockets next month, be wary because they indulge the fantasy of people getting a benefit, do your own research it is not that hard, read some article from your trusted sites.

Each days analysts are there to give their sights in market and even the price goes up or down same scenario are there.
But mostly changes happens when Bear market are coming because most of the Fud are coming out from nowhere just to make the market more panicking.

Predictions are nothing to give as reality because it may or not come true.many are Bullish while others are bearish but in the end of the day?still nothing will be certain until things happen.

Yes I think that this thread and post is great because it shows that beginners should be always ready for something like frauds and scammers that always ready to take advantage of you. I think that if you study and try to learn the movement and behavior of cryptocurrency in a flowchart will truly benefit you because if you know how to read them by yourself then there would be no need if you want to be an analyst then you can analyze it by yourself without having knowledge in things like this in cryptocurrencies the  i think that you should be wary always of your surroundings because they will be always ready to take advantage of you when they see a chance with your ignorance. I hope that you will be always ready.

Today there are a lot of people making a statement into the world of crypto but does not have a sense in terms of knowledge about the really crypto is. The sources are not limited only unlike before that you just came into libraries just to make study how does the crypto really works but with the help of our internet with their search engines it made our task easier and faster to find some information that is related to the topic searched. In terms of having knowledge into the world of crypto, some of their earns are enough to make predictions into the market movement of the coins, but still, it is better if we have a concrete source not just having prediction only came from the internet. Like into the earlier article of McAfee that correctly predicted the market price of the coin and now he does not support the bitcoin instead of the altcoins today. Still, one of the best thing you can trust is your self you do not need other people to analyze those market movements it is better on your own so you can not blame other people too at the same time also failure is good learning to make more aware and educated what are the possible outcomes will happen.

Given that the market is unbearable and is very unpredictable there is no such thing as accurate analysis so what the analyst are talking is just a pure speculation based on their level of understanding. The market changes every time that only means that the view of analyst changes also every time on which sometime they don't give it to people consequently to avoid such "reputation issue".

There is nothing wrong to believe on predictions, in fact there are times that the prediction goes right however it is more reliant to personally believe on what is on your mind. Don't be just too comfortable with these so called analyst because they spend 24 hours in monitoring the prices, that can't do nothing about what is going to happen next.

If emphasis is to be on the upcoming bitcoin event then it is a warning for the newbies who are much likely to get into the bubbles of Bitcoin halving. The fraudulent ones will always raise their ugly heads and those who are not  careful to do their own research will likely to be victims but those who are very much granded in the system would never fall into scams. The laziness on the part of some investors is of a higher note, they have been with the system without them knowing the tricks of these scammers. These scams are repetitive and avoidable.

With cryptocurrency going higher everyday and if the halving drops it down and then rises it up according to what most of these influencers are predicting it will do like it did in 2016-2017, then we can expect even more of them to come out of the wood work.
There are some who give out information on a daily basis without doing and of their technical analyst which have been featured on the youtuber crypto influencers awards show just recently.
https://bitcointalk.org/index.php?topic=5241100.0

Social media analysts is having a lot of effect on followers especially on twitter and I think its the reason for a higher adoption of twitter campaigns. It is important that all investors understand the fundamentals in identifying good project before they choose who they listen to on the choice of project investment. For most big name ICO advisors and market movers in last ICOs that manipulated the market, they faced prosecution in past years and had distanced themselves from startups.

Yes, you are right here. I never follow that kind of crypto analysis because i did not see any analysis that created impact to market. On the other hand it negatively impact to market i think. Actually fraud men are always everywhere but true investors and traders must analysis with his own mind so that he will always gainer.

It’s better not to trust anyone at all, especially when it comes to your money. The best option is if you try to figure it out on your own, so that later, if anything, you do not blame yourself for having entrusted your money to some person whose advice left you in the red.

Yes correct, never believe in news that can be highly profitable for you on twitter or any social network.  because if it's true news, they will hide it and act in silence.  As for invitations to invest 50% or 80% in a month, it is a fraud message.  Be careful, in this market there are many scammers.

Most of them are actually a fraud, they are just trying to cover the real them in exchange for easy money. Especially those people who are really active in social media that they are using their connection to spread their lies and benefit themselves from everything they share to the public.

Actually you cannot blame any analyst, some people even think of suing them but again it is not possible because they have a disclaimer that it is not financial advice.

So why do they provide any such info at all? Because it is all guesswork and some bits of oddly done TA at best just to make the fools think that it is something worth reading every evening and provide some traffic to that news site.

Social media is the worst place to get trading advice or investment advice. Being the breeding ground of conspiracy theories and shills reddit is the no-go place for any crypto user and twitter is spammers paradise.

Hello everybody. I want to add to all of the above that it is necessary to study fraud schemes. Interest in the crypto industry is growing every year and fraud is becoming more sophisticated. In life, - a man deceived you once, you don’t believe him anymore and you won’t be a victim of his tricks. On the Internet it’s a lot more complicated - a person has changed his account, started new social networks, and is deceiving more and more. Fraudsters skillfully use a person's thirst in easy money. I think, besides caution, it is necessary to visit forums such as this one more often, to share information, to acquire new knowledge for yourself, and I am sure that over time, scammers will have to go make money for legitimate work.