In the previous posts, I asked traders their take on some traders media stunts (media showoffs), and here's my conclusion after thorough research.
Social media show off isn't entirely bad even though it do mount pressure on some traders who think they're not doing well yet. Follow me at #Ernestacademy to stay updated.
Here are a few reasons why social media stunts can be beneficial to the industry:
1. Education and Information: Crypto traders often use social media shows to share their knowledge, insights, and analysis of the cryptocurrency market. They may discuss market trends, technical analysis, fundamental analysis, and trading strategies.
2. Market Updates and News: Due to their addiction to social media, they tend to share real-time updates and news about the crypto market. Vital information, significant events, regulatory developments, partnerships, and other factors can impact crypto prices.
3. Trading Ideas and Strategies: Crypto traders may share their trading ideas and strategies on social media while trying to impress the public.
4. Community Building: Through this means, a network can be formed, i.e., a community of traders.
5. Mental support and motivation: When you enter social media and see the same trader trading the same market as you and they're doing well, you will feel motivated to continue pushing.
In conclusion, you shouldn't share your wins on social media; you don't need everyone's validation to keep winning.
What is your take on this post?