Celebrities and #crypto : Market Trends and Insights

There has been a lot of talk about this recently. However, can you gain any advantage from it? Let's see.

In 2017, several celebrities started promoting crypto projects, especially around September. After this, we saw a strong leg up before the bull market top in December 2017 and the following bear market in 2018.

In 2021, we observed something similar twice: first in February 2021 and then in October-November 2021. Both times, there was a final leg up followed by a significant correction.

Based on this we can conclude that when celebrities start promoting cryptocurrencies, the market usually experiences a final leg up before reaching a local top.

In any case, the sample size is small, and therefore the edge is limited. Nonetheless, it is interesting.