do you trust social media influencers on cryptocurrencies.

[adekogbe]

The answer is a big NO for me. The reason is because, when i just entered into the crypto space in 2018, i generally used crypto infuencers as my guide and i sometimes tok their words hook-line-and-sinker which cost me a lot of money through bad investments.
I invested $2k in sparkster after recommendations of IAN balina. this turned out to be my worst investment ever. i was unable to recoup 5% of the total investment.

[tycsols]

Honestly, i have followed lots of twitter influencers and i can say that most of them are active during bull market and goes silent when the market is dull. you see post like btc pumping, lets go to the moon and so on whenever the market turns green. looks like most jump out from Nowhere to proclaim the BTC goodness. My opinion, if they failed to inform their followers and  listeners to be careful and never to be greedy, then they are not truly crypto influencers. all they wanted to do is dump on their fallowers and move on.
My belief is that whatever goes up will surely comes down and btc and other crypto will correct sooner or later and we might wait for months again before another major outbreak like we are experiencing  now. Do not go all out on BTC.

It is quite a tricky question because i can tell you with my experience that sometimes i do find good coins from these social media influencers posts but yes mostly i do not take their posts very seriously especially the comments about everyday market because i have observed their most guesses are wrong but when it comes to pointing out new potential projects they can be useful.

[arjuna BTC]

Honestly, i have followed lots of twitter influencers and i can say that most of them are active during bull market and goes silent when the market is dull. you see post like btc pumping, lets go to the moon and so on whenever the market turns green. looks like most jump out from Nowhere to proclaim the BTC goodness. My opinion, if they failed to inform their followers and  listeners to be careful and never to be greedy, then they are not truly crypto influencers. all they wanted to do is dump on their fallowers and move on.
My belief is that whatever goes up will surely comes down and btc and other crypto will correct sooner or later and we might wait for months again before another major outbreak like we are experiencing  now. Do not go all out on BTC.

nope, because i only believe with my own analysis my friend,
sometimes a social media influencers is not pure analysis, wich mean they will getting paid if they promote any altcoins project buddy

[1l1l11ll1l]

Completely only Fomo in the fast time and in this trade is quite high risk. Like Elon Musk who in my opinion is still under the misuse of the media because every Tweet he makes makes the market shift in fast time. in this trade of course has a high risk. It is not uncommon for people to be trapped in a high price position and the price has experienced a dump

I would probably 100% distrust influencers promoting a particular project or coin. but Elon is different, he understands what he is writing and also he is also relevant to technology and crypto because as I know that he is the former CEO of Dogecoin. just like if a softbank or warren buffet wants to buy a stock, surely a stock will increase in value. So it doesn't matter to me if Elon promotes crypto as long as he knows exactly what he's writing

[adekogbe]

Trusting in social media influencers was one of my biggest mistakes I made when I join the cryptocurrency space it was only late that I realized that most of these influencers are just normal people who are trying to make every dollar they can in the crypto market in any way they can so a lot of time they endorse scam projects and get paid but investors suffer and I have experienced this time and time again so I strongly agree that you should never trust social media influencers.

[cryptoknightt]

Maybe yes maybe no. They as influencers must have their own analysis for BTC, if they are the newest alt coin influencer, they will definitely give always positive tweets on the projects they support.

[Maslate]

Social media influencers are no more knowledgeable about cryptocurrency, when compared to you or me. Their recommendations are purely based on their own monetary benefits. In some cases they get paid to promote certain coins and in other instances these people may be owning large quantities of coins or tokens that they are promoting. While there is nothing wrong in investing in such coins, I would say that you need to do careful research on your own before doing that.

It is very unfortunate and we gonna call this a business. Money is above all, that what I saw this time, the more money you have, the more influential you are. And these innocent and NO-HOW media influencers take that offer without knowing what will happen next or they are dragging one's life to hell. However, as people grasp some learning and more market awareness plus their experiences it teaches them not to listen and believe this kind of curse. They are acted base of their own thinking, not coming from these influencer.

[SquallLeonhart]

if they are the newest alt coin influencer, they will definitely give always positive tweets on the projects they support.

Even they are supporting one particular project, after seeing how dogecoins is performing these days, from that I am coming to a conclusion that following influential people will not be a big problem and definitely will be helping to make easy profits. Because, when people are shilling for their own benefit, and if we are good to make use of them with proper cautionary steps, then we not go for following them?

Honestly so far I'm not following any of social media influencers but I'm just planning to do so; that way I could make some easy profits in the short period of time; only time knows that I am right or wrong.

[uneng]

No, I don't trust social media influencers regards anything. It can be crypto currency, a product or a service, doesn't matter, they aren't to be trusted. The only benefit you can find on their advertisements is that some influencers are popular and may lead a FOMO wave, so if you want to speculate and risk some money to make fast profit it might be interesting for you on this particular situation to follow their advices.
However in general, investors must do their own research and look for more feedbacks before investing in crypto currency, preferentially feedbacks from real crypto investors from different platforms and forums.