Hi Steemers,
Calling the bluff
As much as I love the graphs, with the Fibonacci analysis lines etc, I've got to call bluff on some of the big "Crypto gurus" out there. Some people are bonafied geniuses. But my issue is, most are not. And hopefully following this post you can identify who's really helpful and who's just not. I've identified 2 categories of people to watch out for.
The Early birds
Some people have made such a killing off Crypto. They are often automatically idolised by everyone in the periphery. But have you ever considered, the reason some people have made such is killing, is simply because they started early.
I mean let's face it, when BTC was under $2000 in July even, yet to almost touch $20000 in a bullish December, it doesn't matter what you're investing your money in, you're bound to fly. Especially considering that altcoins literally grew 10s if not 100s of times faster than Bitcoin. You just couldn't go wrong. I caught the end of the wave, from about October, and EVERYTHING was making a killing. So provided you had enough capital and you got in early enough, you thrived.
So, instantly paying someone like that respect, that's fine. They've done great. But don't just follow their calls automatically. Calls in a bearish market is very different to calls in a bullish one.
This leads me on to the second category...
The Influencers
There are some Crypto investors are so spot on all the time. It feels like the moment they make a call, the price spikes! These guys are probably more profitable than the first category and the reason is simple. It's all down to the size of their following. Their calls result in the masses instantly buying in... They are mini coin pump and dumps.
To be honest, well played! Every time they speak about a coin, their 100k+ followers rush to buy and the price instantly spikes up 10-30% from entry. What a life. They live in temporary pumps. These guys are good if you spot the call straight away, I mean within a minute. Thereafter, the coins inflated. It's possible it will do well in the mid-long term, but most of the time, those mini pumps are sufficient to continue luring in the unaware.
Conclusion
Take care guys and girls. It's a jungle out there, and with a market so small, whales govern what goes up and what goes down.
Who am I?
So I'm new to the platform but not completely new to crypto. So now I'm trying to share knowledge, lessons and personal thoughts via various social media platforms. My stuff isn't perfect nor is it financial advice, but it's a direct peek into my mind. If you're interested in joining me on this journey, then share / follow / subscribe to my channels:
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@CryptoCrayze