Social Media influencers are responsible for many pump & dumps in the cryptosphere due to the content they publish on coins with a low trading volume. McAfee is just one example in that aspect but there are many many more out there, especially on YouTtbe & Twitter.
I guess many of you might have heard of ALTCoin Buzz, Crypto Nick, David Gokhshtein, Tone Vays, Whalepanda and most probably a lot more I haven´t mentioned or recognized out there so far. But in the end it doesn´t matter who it is, people with a huge following on social media who post about cryptos are definitely able to move the prices in either direction.
Especially McAffee might have driven many Alts into the sky during the last days while calling them out on Twitter to be a solid investment (I posted about this yesterday in case you like to check it out 😉). Of course that´s as well working into the opposite direction by spreading some FUD about a coin like it´s happening just now on Verge (XVG), which is down more than 30% over the last 24 hours.
What Do I Want To Tell You Now?
Well that´s quite simple, Do Your Own Research!. Please never invest or fomo into any coin out there that you don´t know anything about as you most probably wouldn´t do this on the stock market or any other market either. Celebrities on Social Media are NO Investment Gurus!
That being said, NO, Cryptos Aren´t Different In That Aspect. Every investment should be made wisely, especially whenever it´s done within the Cryptosphere. There are many useless projects out there, a lot of FUD & FOMO that may lead to a total loss on your money eventually. Therefore please be rational, read the whitepapers, dive into the coins community and get yourself properly informed before investing into anything. Otherwise you´re basically just playing Roulette in a big Casino...
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