We've all been there. You are on twitter, watching Bitcoin or Ethereum pump, then you come across some random post saying "we're going to $0!" or "we're going to $1M soon!" Could either have validity? No. This is something I've noticed, which I'll jump right into.
Some people on twitter or other social media platforms, at some point in time, realized they have a bit of influence. Maybe they have 100k followers. Maybe 50k but either scenario, they have a LOT of people watching their tweets, and probably even some of those people are going to try trading based off their advice. Throw a few minor whales in the mix & these people can definitely slightly move markets. So here's what I've been noticing over the past few years of being in crypto, especially from accounts who are mainly "trading" accounts- they post trade set ups, advice, & where they think the market is going. But what you DON'T realize is they are EXTREMELY biased. They post this "info" for free to make them money, not you.
I'm going to recommend you not listening to these certain accounts for many various reasons. One is a HUGE personal bias & a MAJOR conflict of interest. That one trader you love just posted "it's all over folks, Bitcoin is going to $500." No Bitcoin will never go to $500, that is a laughable price. What they are doing is pulling up their favorite trading website like Bitmex or something similar, getting into a x100 short position, then jumping on their social media of choice & basically as they call it "FUD"ing the crypto they chose. Maybe they shorted Bitcoin x100 so they say "well pack up your bags, we're going down" but what they are REALLY doing is trying to manipulate enough people & hopefully whales into buying what they are selling. Well not literally in this case as they are shorting but you get what I mean. They want to make money & if they see their positions not going the way they envisioned them to, they'll try to sway the market by making a tweet go viral about Bitcoin going up or down. They want the market to go this way or that way, while the average hodler feels the pain. Say no to this, don't condone their behavior. I always call them out & I recommend everyone else to do the same.
I'm here to say don't buy into their nonsense, don't hang onto their every word, because at the end of the day they are trying to manipulate you & everyone else into making their wishes come true. They don't know anything more than you do, just assume things. I say screw em, we'll go higher & get that position liquidated to teach them to learn to trade responsibly & the rest of your portfolio should be for HODLing. No reason to trade every single candle. It will only inevitably lead you to financial loss, not gains. Remember those who bought Bitcoin at $1 never envisioned $1000 & beyond, and if they didn't hodl, they wouldn't have made literally the easiest gains you could ever possibly hope for.
So don't listen to that "trading guru" trying to get you to join his paid group, saying Bitcoin is going to $2000. Don't listen to that person who is attempting to instill fear in your mind to fulfill their wishes & make them money. Nah get lost. We're here, we're bullish (within reason) and there's no reason we won't see a $10,000 Bitcoin again in the foreseeable future. I'm the voice of reason. Things seem to be heating up into the reward halving which happens very soon, in May, and honestly the future has never looked brighter for Bitcoin. With a crumbling economy, stocks not doing so hot, and the gov't printing money left & right, we need something that is scarce & immutable. We need something that isn't controlled by the gov't. Stack those sats while you can because we're just getting started folks. We have already established the common denominator- Bitcoin is here to stay whether you or anyone else likes it or not. Ethereum too along with a few select top altcoins. Get some of them within the foreseeable future or you'll get left behind in their respective dust.
If you want to try trading, find reputable trading accounts who don't publish only biased positions. Find traders who can post position either up or down. Find people who will avoid the same narratives & can change their opinions quickly based on what happens. Avoid people who either post extremes or only post bearish positions. I've seen plenty of these, they are mad they got liquidated but can't wake up to the truth that sometimes, yeah we do see some REAL upwards movement. Either way do your own research & make sure you don't believe every word you read on the internet.
Remember what Satoshi once said- "If you don't understand or believe in Bitcoin, I don't have time to explain it to you."