I have discovered @Haejin about 2 months ago on Youtube and I have followed him and read his posts everyday since. I found out about this awesome platform through him.
DISCLAIMER : I have made some profits from his TA and also lost a little bit (overall gained) so please understand that this is nothing personal. Take this with a grain of salt. It's just my opinion and my intention is to warn people that didn't have the chance to go trough all of this.Upvote or downvote as you see fit but do know that whether you agree or disagree with this, downvote means hiding this warning from potential innocent people. So if this post gets downvoted all the way to being invisible I only ask for your upvote to keep it on a 0 level.
When I first started watching his clips I was completely sold. The way he talks + his calm voice got me intrigued but mostly the ... "My goal is to help and do no harm" is what got me hooked.
I have also learned about technical analysis for the first time thanks to him. The links at the end of every post he makes could be a treasure if you are new to investing/trading. I strongly recommend them as well as https://elliottwave-forecast.com/elliott-wave-theory/#fibonacci and https://medium.com/@Cryptilicious/risk-management-for-trading-8608d813872d if you want to have a shot at trading.
So let's get into it:
- Out of pure appreciation I have a made a Steemit account only to upvote his posts as he was so kindly asking "If this has been helpful to you, please consider upvoting on my Steemit blog" however when I first learned how upvotes work and that it basically earns him money and the fact that he was asking for them only to get more visibility ( "to help more people") is when my suspicious mind kicked in for the first time.
If more visibility is your goal than why would care at all about Steemit when compared to Youtube or Facebook? It's obvious that Steemit has nowhere near close the adoption of the previously mentioned platforms and thus it's most likely not the best way to pursue your goal......unless....oh wait ....maybe that isn't really his goal.
Oh well ...soon after profits were coming so I completely forgot/ignored this sign.
- A while later some older steemians noticed how @Haejin's earnings were piling up and started the flaging/voting war. The way he presented the facts initially convinced me that they are the bad guys downvoting him out of pure envy. However....as this conflict continued to grow up to the point where Haejin was asking his followers to buy SP in order to back him up, I started asking myself questions.
At that point I was getting more and more suspicious about this guy which I had a lot of respect and appreciation for. The thing is ....whatever his earnings were at that point ( I think it was getting over $2,000 / day ) ...it is also true that the bad guys had a good point : He is posting 10 times /day short posts which most likely shouldn't take him longer then 10-15 mins including the TA...30 mins at most. You might argue that he has to, considering the nature of the domain but there is also the option to have only one post including many TAs for the day ...or to update the post if there is urgency. And I have just noticed creating my first post now that there is even the option to decline payout.
By now it started smelling like greed to me. But I thought ... you know what ...his earnings are a reflection to how valuable he is to the marketplace so if the marketplace decides to pay him $100,000 / day ...good for him. It's not out of my pocket and is he helping people gain "Massive profits!" Considering how good he seems at TA and the fact that he has been doing this close to 20 years ( or so he says ) these earnings must be pennies in his pocket.
And then BTC's price started dropping again and again ....and his TA never predicted it. To my knowledge ...so far he has never mentioned to his followers to take profits ( well he did ..but after not before the fact). His bullish TA on every coin out there is so extreme that you might actually start to think if it's even possible, considering the current state of the market. All he sees is UP UP UP....never down ... he doesn't even consider it a possibility before actually starting to go down. And then it hit me :
If this guy has so much experience in TA ... and he is still so wrong on BTC's future price ...it most likely means he is actually bad at TA after all these years? I mean how much experience do you need on looking at these charts that after so many years you couldn't see this coming?
You might argue that ...oh well ...his TA doesn't include a time frame and in the end he will be right ....BTC will rise to 23k. But a good TA should have seen this coming ...especially with so much experience. Also you cannot ignore the fact that in the last month ...you could have basically roll the dice and with closed eyes invest in almost every altcoin there out of the top 100 and you would have made profits. (if you actually took the profits in time). And there goes his KABOOMS!!! He's such a master.
- And the cherry on the top of the cake : He is now teaching TA in a class course. Yup ...doing it privately no longer brings enough earnings, he is now doing it in a class with many students at the same time. And yes... he is doing it because he wants to help ....but you guessed it! It's not free :))
And here is the biggest question I want you to ask yourself:
What if he is not actually such a experienced/good TA? Considering the obvious stench of greed from his actions I am more inclined to think now that he is bad on TA and like he mentioned before he has failed many times over at trading and this is a perfect opportunity for him to earn some good cash. Think about it : What if he invests in a coin, pumps it as hard as he can with his TA ...and then dumps it on all his followers making "MASSIVE PROFITS". Have you noticed lately all the shit coins he has been doing TA on? You should know that the less marketcap a coin has the higher is his impact on it....and the bigger are his gains when dumping it. You have to realize there is a HUGE conflict of interest here.
There is no way to tell as his portfolio is not transparent (even if it was we would still have no way of knowing if he has another one ) and this might all be just a conspiracy theory....but please people....DO NOT blindly follow his advice! Do not buy a coin because his TA showed you " the forest". Make sure you spend a lot of time researching the project & the team behind any coin before you invest in it. I have seen many times over people worshiping him in the comments. Please understand that whatever coin you would have picked to invest it ...would have brought you profits in the last month.
As a closing statement ( oh god.... there is much more I could say about this ....but 4 hrs have passed since I started this post...and my project's deadline is already short) ....my dear @Haejin thank you so much for bringing me into this crazy wild west of investing in crypto. Thank you so much for teaching me about TA. Thanks to your teachings I actually saw this coming and sold all my holdings 2 days ago when BTC was 13.4k (including altcoins) when I noticed the bearish flag:
And here it is a few hours later :
And people also please take a look at this :
You can't ignore how close this looks to the BTC's 2017 price chart. So I am inclined to think it's the bubble burst ...however BTC has had a few bubbles before....I think it's just a cycle ...and everytime the bubble gets bigger. I also disagree with how low the price could go based on that bubble chart ....because there are many investors waiting for a discount to get in ...which is why it never gets to that point.
P.S : @Haejin if you use your ways to make sure less people see this post it will only prove I am right.
REMEMBER: Always ask yourself what if? And don't invest more than you can handle losing!
I'm out! Cheers!