Bitcoin Forum

I frequent twitter and I always see "Crypto Influencers" posting things like;

"What alt will make me rich this weekend", and "I have $10k what should I be buying, etc.

My question is are these types of tweets good for crypto in general?

In general no, you'll see many user shill his shitcoins to the OP. But this doesn't mean all of user promoting/suggestion is bad at all, unless you know how to filter which is good coin, shitcoin and hype coin (it can be consider as shitcoin when the hype is over)

So, when you want to choose which coin you want to buy... The first thing you need to learn is how it's work and what you're looking for it's short term, mid term or long term.

Despite that I respect these influencers, take note that there are no guarantees on whatever coin or token they call for us to buy and to sell. There is no perfect time, and we always have to learn in managing risks. Don’t just rely too much on these crypto influencers.

Like one of the crypto influencers I’ve followed, I always put in my mind that there are no promises or guarantees that his calls would be profitable. Of course, there are some that he mades like more than 10x, 50x, etc., of his investment, but recently, he invested 30 ETH on a project but eventually rug pulled.

Risk managements are necessary, and we must be smart enough to diversify and control our investments.

I wouldn't give too much about random people asking for investment advise and saying they are buying Alt Coin X on Twitter. People can say anything just to become famous for a day. In my opinion people who promote their trades like this on social media, are either looking for re-tweets or might be already owning the specific coin and are looking for more investors. It could be that they are just promoting their own positions, so they could sell in the future. Tweets like this will hype the crypto market more and promote fake beliefs that you get rich overnight without taking too many risks. We need to be aware that there is a lot of risk involved in trading cryptos.

As far as I know, it's mostly a question frequently asked by people new to the space, rather than influencers. Is it a good thing though? I have mixed opinions, but we could probably say it's a good thing because newer people are coming into the space. It's just unfortunate that they fell for the typical altcoin speculation trap.

There actually some people who really put time and effort to research some starting up projects. I guess small part of those "influencers" are looking for new fresh projects with a bright future to invest into and not making too much of a research, just picking coins from the responds, but those people a like 5% of all the mass.
Generally this is just a marketing trick to increase their followers. People tagging popular and not so popular coins to those posts bring more people to those posts and some of them actually follow the OPs.

Back in 2017-2018 there was a big purge in the crypto field and many shill accounts were blocked from twitter especially those participating in twitter bounties shilling scammy projects... I'm pretty sure we will see the same happening in this bull run too.

It's not a good idea to follow the steps on the following you just saw on social media sites again they are just influencing the coin but they are not making an investment in it. These are the mistakes of the people invests the coin they don't have any idea. It's good to be true.

It's easier to create speculation but not to have concrete information. Better you made your own seek of information for your safety and your funds.

Sharing an Alt question what you should buy to get rich this weekend is a tweet that will mean nothing. You will not be awarded the best coins.
All commenting accounts promote their own coins for purchase. Of course not recommended unless you already understand it and it's good.

Never buy shitcoin that other people post, unless the one posting is Elon Musk.

Good for the influencers because they're getting discussion and interaction from their followers which they're after.

But for crypto in general, this is not good especially if there are newbies watching that influencer. There are shillers that will come and will mislead them into buying a crap load of coins.

This is something I would avoid looking at entirely as it just generates more speculation rather than a real accurate prediction on where the cryptocurrency will go. Also this so-called "crypto influencers" almost certainly have biases even if they just tweet a question they certainly have a hidden agenda behind it. If you are talking about if its good for the crypto industry its really just so-so for me as bias people will always exists no matter what market you are in they always like to us their popularity with their huge number of followers just for their own benefit and for me I would just steer away from the noise they are doing.

Anyone asking this question is not really an influencer, just someone who is trying to gain clout by asking questions which would likely get interactions from the Twitter crypto community.
I usually do not take information or opinions from social media about cryptocurrency seriously as they are primarily entertainment platforms and tweets are aimed at appealing the public, rather than giving accurate information; Although there are a couple of credible handles.

It pushes the narrative that cryptocurrencies are still get rich quick schemes, but in general, the impact is not much felt as those influencer do not hold much influence over the crypto space.

Yeah I've always seen them as self serving. I rarely see many interactions with the comments, seems like a one way trasaction where the influencer benefits from all the comments and the community get very little from it

That tweet is not a typical post by an influencer of cryptocurrency, the general origin of the question is one which the source should be a newbie, typically those type of post are in our altcoins discussion board, in aspect of the benefits of influencers, some times in the comments section the advertise companies and they earn from YouTube videos, only very few of them care about the community they are heading.

If you ask question like which alt coin is best for investment and where should I invest then there are fair chances that people will advise you to invest in coins of their choices. You won't get honest advice this way. They mostly pump prices of coins that they buy earlier.

Before investing you must divide your investment at any currency into three main:

Supply: when the coin team have more than 50% of total liquidity the currency are vulnerable to losing a lot of its value in a short period of time, so try to stay away from currencies in which there is no clear information about the distribution of supply in them.

Demand: Demand is the main driver of the price, sudden changes in demand and without being based on a real increase in demand means that the price is a bubble that will explode soon.

liquidity: a lot of currencies are high in price, but you will not find them on many exchanges the lack of liquidity will lead to the collapse of prices

They get a lot from those tweets but literally give from little to nothing to the followers that they have. They are stepping only as an influencer but not what an influencer should be but becomes a shill for those altcoins that they put at their tweets. There's no way to stop this until many of their followers start to cancel them for such acts instead of focusing into informing and educating their followers with the proper terms and strategies in investing in cryptocurrencies.

No, I do not think so. They only want to make a crowd on Twitter.
But if a popular person such as Elon make a tweet, it can lift the price drastically like what we saw with Dogecoin ;D
That person needs DYOR to find the coin and not ask other people because he can lose his money investing in the wrong coin.
Besides that, that will be too risky for new people who ask about that.
They are not crypto influencers.

Answer is simple. No.

Why do you have to spend money to buy tweets of others? Even in NFT. If you are billionaire, ok you can do what you prefer as money is not a matter with you. If you are not a billionaire or not rich enough, it is a stupid deal.

NFT future is unknown and don't believe that it can change the world and auctions in reality.

Invest based on a tweet? I don't think it's good practice for a new and small crypto user. Such tweets could create an influence in crypto for a short time. But if you can't maintain the timing them most probably you wouldn't be a gainer. I notice when a big crypto investor makes a tweet about any coin then price jump for quite sometimes, later it dumps again. That's why I keep myself from such influence and just trade normally. If your dream becomes rich so quickly then you are wrong. I know many people become rich by crypto, but who knows if you are lucky like them? Keep in mind, crypto isn't a quick-rich maker scheme.

Maybe not, or maybe a little because we see a lot of these tweets online and probably tweets could hype a token in the market like what happened to some like DOGE or something.

I don't like hype because after that it would guarantee to go to a downtrend but I guess the influence is also there or maybe some people see the tweets are influenced to try cryptocurrency.

But there are only a few people who actually buy or depend on tweets or comments, maybe some newbies but still, you need research and everything.

One thing you should know is that, businesses or projects needs promotion, a way in which they can meet the general public at anytime all at once. This is the services the social media offers, telegram groups, Facebook, WhatsApp groups, twitter, LinkedIn, YouTube and what have you. Little wonder why the bounty system is focused on these medias and communication channels. Still, you must know that its not a guarantee that any is the best or has more potential.
Not even if the tweet is coming from a supposed expert. For all we know, it could be a scammer or from a scammer referencing another scammer on investment packages or redirecting the masses to a scam oriented project or platform. So, you ought to study and device a means of detecting if a thing is legitimate, promising or not and most of all, know when to buy or sell. Otherwise, it never matters what you came in to the market with, it could always be washed up in the waves.

If they are big influencers then a lot of people will follow their moves and try to do the same. But as some users already say, they could use their followers to bump any shit coin. That's why I wouldn't recommend following them in their transactions.

For a good example of a Twitter influencer who can manipulate the crypto markets, we have Elon Musk, even a user on this forum made a bot to buy BTC each time that Mr. Musk post on Twitter.

Elon should watch out, this is genius!