Retail investors in the digital currency realm increasingly rely on crypto influencers for guidance, but recent research suggests their advice may not be as reliable as perceived.

Social media influencers, often seen as experts in the field, provide insights and recommendations promising profitable returns, yet academic studies indicate their advice may lack substantive value.

Conducted by scholars from reputable universities, the research scrutinises the real impact of influencers' tweets on the market, revealing that their guidance might be more about allure than genuine financial wisdom.

This growing evidence underscores the need for investors to approach social media advice cautiously and emphasises the importance of conducting thorough research before basing investment decisions on the recommendations of online cryptocurrency personalities.