Do you follow trading advice from crypto influencers?

[yojodojo21]

I think that the cryptocurrency market us unique, because many investors don't understand blockchain technology.  So they rely upon experts on YouTube, Twitter, and Telegram for information, analysis, and advice.  As a result, we have the phenomenon of crypto influencers.  Some are reputable, like Carter Thomas of Coin Mastery, but others are not.  What's your opinion on Crypto influencers?  Are they good for this market and the cryptocurrency movement?  Do you take advice from them?  And who's good to follow?

Well, Basically this is the first step of new traders and is good indeed, However most videos from YouTube and any other social medias are not 100% accurate, some of influencers are just saying a bit portion of what they know, to motivate new traders, for them not to be blame in the future. Furthermore, as a member to this forum I have seen that there are great managers who give advice on how to trade wisely. But The main answer here is experience.

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[Olalomi]

My trading decision is not influenced by any source I relied on my trading strategy coupled with some fundamental news, whenever I sees a trading signal I pull the trigger with a stop loss  I usually took advice from crypto influencers but their advice are usually of divergent views to me most of the time setting in confusions.

[michkima]

For me, no. I don't follow then since they are most of the time paid or promised with something that is the reason they promote the ICO or cryptocurrency. Yes there are times that the crypto is good on paper, but really they are not backed up by good people or platforms. In the end, they just collapse and your investment gone.

[trumper]

More like a investment advice rather than trading advice, I pay attention, most crypto influencers hold their coins for the long term instead of trading them.

[Wicked17]

I think that the cryptocurrency market us unique, because many investors don't understand blockchain technology.  So they rely upon experts on YouTube, Twitter, and Telegram for information, analysis, and advice.  As a result, we have the phenomenon of crypto influencers.  Some are reputable, like Carter Thomas of Coin Mastery, but others are not.  What's your opinion on Crypto influencers?  Are they good for this market and the cryptocurrency movement?  Do you take advice from them?  And who's good to follow?

Experts advice also a good way to gain more knowledge upon trading especially for those new in trading crypto, you can follow their advice but most of them are not accurate in predictions. And at the end of the day your self analysis will still be your final decision.

[JL421]

There are no crypto influencers left all simply buy the coin at and give some fake facts regarding it and make there followers pump it , see McAfee, charlie they don't do anything to the price it's just a pump and after a while the price falls

[arpon11]

I think that the cryptocurrency market us unique, because many investors don't understand blockchain technology.  So they rely upon experts on YouTube, Twitter, and Telegram for information, analysis, and advice.  As a result, we have the phenomenon of crypto influencers.  Some are reputable, like Carter Thomas of Coin Mastery, but others are not.  What's your opinion on Crypto influencers?  Are they good for this market and the cryptocurrency movement?  Do you take advice from them?  And who's good to follow?

I don't relay on advice from the said called experts when making a trading decision but using them for information purpose. Bitcoin and altcoins trading is very risky and you should not keep you hope on the views of other.  I have been in this market for quite some time now and the reality is that trading is a decision one has to arrive by him or herself and if you did not no how to do this then don't risk your capital.

[bitcoinking11]

I haven't taken any trading advice from anywhere, if I find any good crypto influencers then I would definitely take advice. I think there is nothing wrong in taking advice.

[yugyug]

Since some of cryptocurrency market simply rely on media, influencers,supporters. Some social media influencers contributed also the trend particular if they have large audience. We welcome their opinion but we should not deeply rely on them, we have to do some research too. Cryptocurrency is about technical and economic aspects, learn their technology,products and services and their impact to the market demand.

[supercanada1]

Since some of cryptocurrency market simply rely on media, influencers,supporters. Some social media influencers contributed also the trend particular if they have large audience. We welcome their opinion but we should not deeply rely on them, we have to do some research too. Cryptocurrency is about technical and economic aspects, learn their technology,products and services and their impact to the market demand.

I am also with learning about the market as much as possible and from any source. This will increase ones knowledge and broaden his angle of looking at things. I also believe that a person should just listen to the opinions of others but take the action according to his own free will. This is the actual way to grow one’s mind. Relying on other’s knowledge too much takes away the freedom of thinking in creative way. A trader should give priority to his intuitions.

[Baofeng]

If you are talking about the like of John McAfee as influencer because of his coin of the day then NO. What I do is just really read what's most of the analyst are saying and draw my own conclusion.

The problem is that most of us doesn't know that much about crypto trading and they indeed listen to influencers like they should invest in this or that, but at the end, if they lost their investment then there's no one to blame but yourself. Just gather information and try to filter out and see what you think is the best for me.

[FrueGreads]

I think that the cryptocurrency market us unique, because many investors don't understand blockchain technology.  So they rely upon experts on YouTube, Twitter, and Telegram for information, analysis, and advice.  As a result, we have the phenomenon of crypto influencers.  Some are reputable, like Carter Thomas of Coin Mastery, but others are not.  What's your opinion on Crypto influencers?  Are they good for this market and the cryptocurrency movement?  Do you take advice from them?  And who's good to follow?

I think you could listen to them, but don't blindly follow them. A true investor should not follow other's people opinions, and should just stay with fundamental analysis about the project they are investing in. I won't deny these guys are good, but it's not because they understand crypto, but simply because they are well known, and have millions of followers, so what they say kind of becomes a self fulfilled prophecy.

For the long run, I would say stick to your one analysis. For the short term, these channels could actually be a good option, because there are a lot of guys that just follow them blindly, and if they are a lot, they will move the price a bit and might create a trend (almost like a pump and dump group).

[TwSeventh]

everybody have their own capability and everybody have different set up.
that means we can not do the same thing like others people do,but we can learn something from them.
for me,crypto influencers are a mentor.
most of them were sharing an informative news about what is going on with it and what will happen with it.
just like what i say,he is a mentor but in the end i am the only one who will decide my own fate.
they are only giving us a tips about life or knowledge itself.

[Scallywag]

no i don't , most i will do is take some pieces of advice or pick things that make sense out of the story. the best way to learn trading is to make your own mistakes and learn from them , that way you are not depending on what someone else is saying.

[BeGoods]

Yes i will follow them, but before it just make sure they do right review. Influencer can make market in more demand, because many their fans will believe  and interesting. Influencer can make cryptocurrency make more popular and willl be more people interest in it.

but whenever they could be wrong in doing the analysis and calculation right ? I did not immediately follow their advice. because they may also have certain goals? usually I just make it as a reference only. not as the main suggestion and immediately follow it without a careful calculation.

[Ray3z]

no i don't , most i will do is take some pieces of advice or pick things that make sense out of the story. the best way to learn trading is to make your own mistakes and learn from them , that way you are not depending on what someone else is saying.

Doing own research make us more confident in the future regarding our ability to trade cryptocurrency but use surrounding opinion is never bad to compare whether our analysis is good or not. So combine those two things are more recommended to do.

[Pupul1999]

Dear sinior member
                        just I think real clever invester are follow and read human psychology then invest and sucssces

[richminded]

No, because I know how to do it personally. Though I also follow some news that I think can affect the market so I can exit every time the market is falling. Its hard to do it since the market is working non-stop so if you are planning to become a trader, better to depend only to yourself because its worth it compare to any hype advice.

[gawer33]

I'm only listening to others opinion to know what is hype and what is not, hypes make more volatility and again every volatility is traders potential gain. I usually put hypes coins on the watchlist and makes my own T.A. if you got influenced by some traders advice your just participating in a pump and dumps without noticing it.

[infested]

For the people that do follow crypto influencers, can you give us some link (youtube/twiter/blogs or whatever) on who you follow? One i ve personally found and like from youtube is DataDash. Would love to learn about others!