Chaos of Crypto Analysts: Plagiarism, Forged Profits, Institutional Banker
Since cryptocurrency has changed from a niche experiment to new finance with a market value of $230 billion, cryptocurrency analyst emerges as relevant professions in the industry.
However, just as the frequent chaos of the cryptocurrency industry, the chaos of cryptocurrency analysts is endless as plagiarism is just the tip of the iceberg.
The so-called market analyst refers to the practitioner who provides investors with investment reference through the continuous output of professional market interpretation and analysis.
In the view of the insiders, the business model of crypto analysts includes three types. First, creating personal IP through content output, user traffic; second, setting up paid communities, paid courses; thirdly, cooperating with projects, exchanges, and other institutions, and selling advertisements.
In order to show their “professionalism”, some analysts often work hard on external publicity. For example, only show their accurate prediction and delete the misjudged prediction.
On March 16, Jacob Canfield, an analyst on twitter named “cryptocurrency analyst No. 1”, was revealed that he had been falsifying pictures of his trading performance.
Later, Jacob Canfield publicly admitted that in a post deleted on March 13, he had revised some of the transaction charts to make the transaction look better.
In fact, the cheating of crypto analyst is more common in China. Many so-called analysts make a mess of their own losses. Instead, they show how much they have earned on WeChat every day. In fact, they want to attract a green hand’s attention in this way, and then make profits from it.
In a word, after obtaining user traffic and fans in various ways, some analysts began to cash in, the most common of which is to cooperate with the cryptocurrency projects and the exchange – to attract users for exchange and projects.
Some analysts even cooperate with some copycat exchanges and aircoin projects to attract investors through false publicity such as high returns. Early investors may make some profits and then fall into the trap.
The wealth effect makes cryptocurrency investors surge, as well as exchanges and projects, among which one end is users, the other end is a platform, analysts just act as a bridge.
Compared with the traditional user acquisition channels, analysts are favored by the exchange and project parties because of their strong stickiness with fans and the community. One of the ways for some exchanges to obtain traffic is to gather investors through a number of KOLs in crypto space, attracting investors to trade on the platform.
In fact, not only the emerging small exchanges but also the head exchanges face the problem of fierce stock competition. Analysts and their communities naturally become partners with various advantages.
However, some investors said that the analysts’ views are worth reading as a reference. Behind the output of analysts’ opinions, there is their cognition and experience accumulation of the industry.