Social media is filled with a lot of people’s opinions towards the market and you decide to follow the market’s based on social media’s opinion you will get lost and rekt.
rekt is a term used in the crypto community. It means total crypto or financial loss.
One thing you should know as a crypto investor is to learn how to control your emotions. As long as you know and trust your coin, that is after you have done your research, then you should filter social media noise and take it with caution. Smart investors don’t allow their emotions to drive their decisions.
The worst people to follow on social media are the ones discriminating bitcoin or cryptocurrency as a whole. Especially the governments, these are the people claiming to protect you from bitcoin meanwhile they are the same people bitcoin is trying to protect you from.
I mean Elon Musk just described them(government) as the biggest cooperations that have a monopoly of violence while on stage at a bitcoin conference
Another set of social media you should avoid and filter their noise are the unnecessary social media influencers. When I said unnecessary, I meant those social media influencers that has skills in just taking cool pictures and videos and have no financial education skill whatsoever. But will jump on any shitcoin and say cool things about it because they have been paid for it. Some rappers are not exempted also, especial those Twitter accounts screaming you can turn $10 to $15k.
Also watch out for those spreading FUD, most times those ones sharing FUD are the ones that want to buy your coin. They spread FUD so you can sell your coin, driving the price low, so they can buy it off cheap.
To protect your mental health when investing in crypto is to filter social media noise because nothing can ever compare to what you know as long as you know what you are doing .
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