Hi guys, this is Lucky Ali, and welcome back to my post. Crypto users are aware of the influence of influencers. They can manipulate the market as well as market movements. Such influencers use YouTube, Twitter, and podcasts and trigger the Waves of panic or excitement, but this is only for the Crypto market because the Crypto market is a small market. On the other hand, it is not possible with the traditional market because in the traditional market, the volume is huge, it is a big market, Institutional investors are there, and also it is regulated. Crypto is different because it is still evolving and still growing.
Influence on the big cryptocurrencies
Let's say there is a new token that has launched recently, and there is an influencer who owns a big follower base, and the influencer promotes that new token. Then, it generates an interest in that new token, and this is exactly what is happening in the Crypto. It is difficult to affect the big coins like Bitcoin or Ethereum because they are out of the coverage for these influencers, so even if they spread negativity about these big coins, nothing is going to happen with those coins, but talking about new coins, it will always remain with the Crypto.
Because when the new coin launches in the crypto market in the initial stage, it has a Low market cap and low volume, and if an influencer promotes such coins, then obviously more interest can be generated in that particular token or coin. So after reading this information, you can understand the power of the influences in the Crypto. In the past, we have seen many crypto influencers. They used their power for their profit. For example pump and dump scheme. They have used potato coins and shit projects and earned a lot of money through their followers and dumped their tokens on those followers. I believe this is a crime.
Double meme coin price over the night
A celebrity or a well-followed trader can double the meme coins overnight, and this has happened in the past. These are the real incidents. Sometimes it is difficult to believe in such incidents, but this incident has happened. So influencers can do Things on a big level in both negative and positive. That is why it is important to choose Advice carefully, because not everyone is here for the better financial advice, so avoid financial advice, do your own research, because if you are here for the long term, then you know how to do research. So do your own research and always gather knowledge, study in the Crypto, so that you will learn a lot of things here.
conclusion
I am not saying that all the influences are negative, but as you know that bad actors are everywhere, in every field. So influences are important at the same time, but they can be dangerous too. So don't just follow the hype and focus on your knowledge; focus on your studies in the crypto market. And do not make a move before studying in detail. Do not jump into any project before studying in detail. This is the key to success in the crypto market, and this is how you can save yourself from scams, because a lot of scams are happening in the cryptocurrency market. Crypto has a decentralised nature, so it is in your hands how you manage it.
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Hi I am lucky ali from gujarat, india. I am a crypto enthusiast, blogger, and SEO developer. You can find me on hive, twitter and discord (Lucky Ali#6343). Sharing is caring. Thank you, hive family ♥ |
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