[Revealing the effect of cryptocurrency KOL calls: short-term gains are obvious, but long-term losses may occur] 🔍Researchers from Harvard Business School, Indiana University Business School and Texas A&M University jointly published an article titled "The Impact of Cryptocurrency Researcher" paper studied the return performance related to crypto assets mentioned in approximately 36,000 tweets posted by 180 of the most famous cryptocurrency social media influencers (KOLs) in the past two years. The results show that these KOL tweets were initially associated with positive returns, but then experienced significant long-term negative returns, indicating that they generated little long-term investment value. The data shows that investors can only profit from a tweet if they exit their positions immediately after it is published, but this strategy may not always be feasible due to illiquidity in the market. Therefore, investors should be cautious when following KOL’s investment advice, as most gains disappear shortly after the tweet is published. What do you think about this? Welcome to share your opinions in the comment area!