Caution: Don't get carried away by social media vibes while trading

[Twinkledoe]

@OP while you said it, I'd also like to remind you of Elon Musk's non-sense yet highly followed tweets which took BTC "to da moon" and then dropped it back "to the ground" just because at the beginning, he announced of his BTC holdings through SEC, and later on when he "probably" would have sold all his BTC already, started playing tricks with average investors and trying to scare them of the markets by saying that BTC seems to be a bit overvalued. Tell me what the hell is that? Still, these foolish investors follow him just because he got success in least time through Tesla and SpaceX.

Well, perhaps Elon Musk is pure business-minded. He wants to manipulate bitcoin just because of his own interest and possible benefits and he abused his being an influencer just because of his own interest. If we know that there is something wrong with manipulation, I would rather start ignoring him than following his nonsense tweet on social media. If you are a real crypto enthusiast you will not listen to any social media vibes, all they want is to have a pump and dump of the price of crypto and when bitcoin is on hype, they will immediately cut their profit. But at least, it is hard for them to manipulate the entire market, only a small impact has.

That's the good thing here in crypto market. No sole investor can have the major influence in the market as the distribution is not focused in one or two persons. Even the popular name of Elon Musk, if you are new into crypto, better not follow what he is suggesting as you may end up badly, being the small time investor here. Learn the ropes in crypto market and follow your instincts.

[tygeade]

Socialmedia is one of the most important source of information, channels like 'The whale club' show us when big amount of coins has been spent. And this kind of feedback help us to take a smart decision. But we must be careful with all the other messages to find because if we trust in anyone we could make big mistakes.

So, is important to be smart and ride the right waves when we talk about social media.

To put it into simple words, it is important to understand and read everything that is posted about crypto and what's happening in the market but it is even more important to understand what is actually useful to us and what is being posted out of context.

I never trust any news instead I see them as data and analyze what's useful. It's very similar to how gamblers see predictions, you cannot trust them because everyone has their own opinions but knowing everyone's opinion is also important because it helps you read the game in a better manner. Consider every social media post as data and just use what is beneficial, let everything else slip and make sure it's not impacting your decision making.

[bitzizzix]

All the vibes on social media depend on our reactions to judgments informed by social media and so on, and if that's good and it makes sense, I think that's okay.
they only provide information with what they know even though the truth is inaccurate, depending on our intelligence in assessing all of that and whatever the reason, they are not wrong and what is wrong is how we judge and investigate the truth of the information because that is how they earn income by creating YouTube , articles, and so on to get people to open them.

[doctor877]

the best form of trading or investment is to buy low and sell high. what some influencers cause is to buy and the drop the signal for people to buy and they also take profits before everyone. thats why its not good to FOMO, and dont invest what you cant afford to lose. and also try to learn trading yourself, study the market, discover potential coins andfollow them up.

[conected]

All the vibes on social media depend on our reactions to judgments informed by social media and so on, and if that's good and it makes sense, I think that's okay.
they only provide information with what they know even though the truth is inaccurate, depending on our intelligence in assessing all of that and whatever the reason, they are not wrong and what is wrong is how we judge and investigate the truth of the information because that is how they earn income by creating YouTube , articles, and so on to get people to open them.

- Sharing information on social networks from some people just comes from a kindness, sometimes they don't want to target the psychology of investors, they just want to give warnings, helping others to be careful in their actions and decisions but unfortunately, unstable sentiment is often a common weakness, and investors often trust those who have influence in community groups. Be feverishly watching other people's thoughts and forgetting themselves but at least, such a mistake won't appear for the second time, making no mistake just makes us arrogant about ourselves

[DarkDays]

the best form of trading or investment is to buy low and sell high. what some influencers cause is to buy and the drop the signal for people to buy and they also take profits before everyone. thats why its not good to FOMO, and dont invest what you cant afford to lose. and also try to learn trading yourself, study the market, discover potential coins andfollow them up.

Following influencers is not a bad idea to track market movements but you have to be super quick as these things happen and end within seconds. We have all seen how Elon's tweets got people in/out of DOGE several times.

It is risky but can be manipulated in by the influencer and others that can splash big. If you don't have the courage, then don't do it, you'll most likely lose your money.

[Ridwan Fauzi]

There are so many false information especially when crypto currency price are increasing or decreasing a lot (volatile). The information will be more sensitive when came at these situation.

So, this is the important part when you decide to trade. I mean, trading strategy is not fundamental analyst only. Even, if you are day trader and use fundamental analyst as your benchmark, then you are willing to lose.

But, I'll be agree if you do day trade and use technical analyst is the main factor you predict the movement price. You will find the movement price base on the chart and then you will match with some information that spread.

[LUCKMCFLY]

Social networks have their advantages, but it would have been through social networks we would not have found out that Elon Musk made that massive purchase of Bitcoin, and perhaps many would not have bought as they did and so much was the impact that Bitcoin reached a new ATH Sometimes social networks travel faster than the same news, you just have to know what information we should take and which we should discard.

Both FUD and FOMO we will find, it is in our reason and analysis to believe and use for our benefit.

[Quidat]

the best form of trading or investment is to buy low and sell high. what some influencers cause is to buy and the drop the signal for people to buy and they also take profits before everyone. thats why its not good to FOMO, and dont invest what you cant afford to lose. and also try to learn trading yourself, study the market, discover potential coins andfollow them up.

Following influencers is not a bad idea to track market movements but you have to be super quick as these things happen and end within seconds. We have all seen how Elon's tweets got people in/out of DOGE several times.

It is risky but can be manipulated in by the influencer and others that can splash big. If you don't have the courage, then don't do it, you'll most likely lose your money.

You are right! This is just a matter of risk taking decision neither on someone who could afford to take up some steps for them to potentially able to earn or would miss out an opportunity.
Lots have discourage about shills and fuds about sentiments came from popular people/company on not to make any action if they wont want to lose money but we cant deny
that this is also a scenario on where people could also make use of this one to make money.It do just matte on how fast you do react neither you do go inside or out in the market.

[CryptopreneurBrainboss]

Fellows, this is a Big Deal.
Don't get carried away by social medias such as Telegram, Twitter, Reddit etc's vibes that has gone viral. These articles prompts user to invest in particular cryptos as they predict that there is going to be a hugh bullish trend. This is purely a marketing stunt from giant traders to make a quick profit from the misfortune and duped small time traders.

It has never been idea to take your investment idea from the internet, the internet make it possible for anyone to claim to be what they wished to be but they're not. A noob can make himself look like a pro and there is no way to doubt his claims because he can create false evidence to back his claims of been successful at investing or trading.

Don't also chase after the hypes as they die down as quickly as they were formed, hype are mostly spread through social media by shillers which are either hired or enthusiast of the project.  Never bring social media into your professional trading career, you have to stay away to become a successful trader.

[RealMalatesta]

All the vibes on social media depend on our reactions to judgments informed by social media and so on, and if that's good and it makes sense, I think that's okay.
they only provide information with what they know even though the truth is inaccurate, depending on our intelligence in assessing all of that and whatever the reason, they are not wrong and what is wrong is how we judge and investigate the truth of the information because that is how they earn income by creating YouTube , articles, and so on to get people to open them.

I agree that there is really nothing harmful of social media if you know how to navigate it. I personally do not check it that much but on rare times I do, I know what to look at and where to look at and that is why I never make a move depending on social media.

First of all, I do not make moves depending on anyone, I just like some certain coins and I invest to them and I keep investing into them more and more increasing my position and I have a set price that I will get out and mostly it is on binance where I put on a sell order at that price and that's about it, there is really nothing else that I do and social media can't really change that. Maybe only the part where I pick coins could be changed but it is not really that open to outside world for me, I decide it based on my few filters.

[Kittygalore]

If you know what you are doing you can actually do good with the hype that is surrounding the social media, use that information to formulate your strategy when it comes to trading. There is a sense in what you are advising that anyone shouldn't get carried away by social media but I think that there is a better way of handling things than just completely ignoring it, it is better to be resourceful more than anything else, you will have a higher chance of becoming successful if you are using all the tools that is available.

[isaac_clarke22]

~

But actually you can get an input on what's currently happening in the market and it's great to take advantage with it, just buy the news and once you see some sudden constant changes that might endanger your profit then sell just make sure that you will not end up bag holding. Remember that's how manipulator works that's why we need to be alert so that we can earn by following them.

On spot.
No one can stop these people in social media in saying something. No one can control their words as well so the only control we have in that kind of events is our reaction.
I've been in and out in looking for good thoughts about Bitcoin lately in Facebook but everything that almost everyone said were just FUDs and thankfully I learned first about the basics of trading, pricing , and a bit of technical stuffs about Bitcoin before I managed to encounter these kinds of FUDs.

[so98nn]

Small time traders can also make a hugh profit if they are able to time the market and invest before the market trend shoots up high. But for those who are late and invest at the last moment, buying stocks at stiff price hoping the market would keep on climbing, its a big misfortune.

Thats very important. Timely investment is very important in the crypto currency whether it is related to the social influence or not. In general you have to be alert in the crypto specifically because this market is running 24x7 and unstoppable all the time. This means, anyone can go and invest at anytime. You never know what billionaire would be in the mood to put his billions or millions in the crypto overnight.

So being a small profile trader we have to be alert all the time. The social media is not going anywhere. It is modern way of marketing the stuff. In such case you need to upgrade yourself and keep trading with complete sense of alertness. 

[danherbias07]

Correct. But it doesn't always work their way.
These hype attempts also cost them money. They pay for every social media marketing mangers or whatever they are called to bring the hype into a larger scale.
But, there is no assurance it will always click.

It's a strategy with high risk and high capital also.
As a normal person with low income, this techniques won't be possible to accomplish.
Yes, better to just stay away from it.

[TedMosby]

youtube and twitter are platforms where the most hyperbolic crypto price prediction presented.
stay away from influencers who only tell you crypto price predictions, next target price, and so on.
however, you may know that the social media vibes lead by some rumors and early information, which is good if you are a speculator who is willing to take the risk for a big win.
legend says that you have to buy the rumors, set your own target, and leave as soon as you reach your target.

-snip-

The outcome is that, hugh traders make a hansome profit, while the small time traders are left haplessly holding onto their stock, since they cannot sell at a hugh loss. They have to wait for a long duration hoping to dump their stocks when the market raises its bullish trend, which could take months.

-snip-

try to find a platform that offers you a copy trading feature then. so you can just sit and relax meanwhile the algorithm will copy that big trader for you.

[Hamphser]

Small time traders can also make a hugh profit if they are able to time the market and invest before the market trend shoots up high. But for those who are late and invest at the last moment, buying stocks at stiff price hoping the market would keep on climbing, its a big misfortune.

Thats very important. Timely investment is very important in the crypto currency whether it is related to the social influence or not. In general you have to be alert in the crypto specifically because this market is running 24x7 and unstoppable all the time. This means, anyone can go and invest at anytime. You never know what billionaire would be in the mood to put his billions or millions in the crypto overnight.

So being a small profile trader we have to be alert all the time. The social media is not going anywhere. It is modern way of marketing the stuff. In such case you need to upgrade yourself and keep trading with complete sense of alertness. 

You are right and instead on seeing this as a thing to be avoided, then why not on making it use for you to get some advantage on your side?

There are people whom do really love to take up some risk even if they do know that this is clearly an agenda or shill out but still they do able to get in
and get out on the right time before the market crashes up and they had already secure the profits.

It might sounds simple but executing these kind of actions is really hard and cant be done by someone casually.

[justdimin]

Correct. But it doesn't always work their way.
These hype attempts also cost them money. They pay for every social media marketing mangers or whatever they are called to bring the hype into a larger scale.
But, there is no assurance it will always click.

It's a strategy with high risk and high capital also.
As a normal person with low income, this techniques won't be possible to accomplish.
Yes, better to just stay away from it.

I do agree that for companies it could be high risk and high capital but it is high potential as well, if it clicks and works you are making a lot more than anyone else which is why it is something that would be perfectly fine and understandable, after all who would be against making money like this if they can? So those people spend a lot of money and take that risk and they try to make that money because it could be life changing.

Social media is a bad place, not just for crypto, it is specially bad when it comes to politics and sports because you can find all kinds of people in twitter and the most hatred filled topics are politics and sports since people have "sides" in those topics, well in finance world and specially in crypto world people are trying to get famous and "sides" here are crypto currencies, one likes tron the other likes eos, some like dot others like bnb whatever and that is why it becomes a bad place for us too.

[blockman]

Correct. But it doesn't always work their way.
These hype attempts also cost them money. They pay for every social media marketing mangers or whatever they are called to bring the hype into a larger scale.
But, there is no assurance it will always click.

It's a strategy with high risk and high capital also.
As a normal person with low income, this techniques won't be possible to accomplish.
Yes, better to just stay away from it.

They're thinking about the possible return and that's much higher than what they've paid for. But we do know that what it's like to be in the crypto market and which projects are worth investing in.
Although there's a strategy that they do, they create bounty and pay people with their stakes through their generated tokens and that's almost costing them nothing for those services rendered.

[Cling18]

Those articles will not be effective unless it is from a social media influencer or celebrity even though they are not connected to cryptos it may affect the prices for a while.But people who are having experience in trading pays more attention to their analysis than watching those articles on news outlets.

We can't deny the fact that crypto market is highly manipulated so we need to learn how to survive them and make something out of them if possible.

One of the common mistakes of crypto traders who use social media these days is that they allow social media influencers to manipulate the market by following their posts and tweets. We shouldn't listen to them since most of them are just manipulating the market for their own benefit. We should be wise and just follow those who could influence people to invest in a good coin not just for their own motive.