Cryptocurrency technical analyst uses Photoshop to fake his profits
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Answer Cryptocurrency technical analyst uses Photoshop to fake his profits
With the spread of social media and the expansion of the cryptocurrency market, there appear from time to time some people who establish themselves as experts in the field and that their reading and expectations are never wrong with the publication of evidence that supports what they say… But sometimes this evidence is fake.
“Jacob Canfield” If you frequent foreign communication channels for cryptocurrency trading, you may have come across the title “No. 1 Cryptocurrency Analyst”.
And who was recently accused of posting fake photos using Photoshop.
Cryptocurrency Analyst Revealed #1:
A recent set of screenshots provides evidence that a major trader was misleadingly filming his gains to boost his reputation.
Read:Crypto has officially become a financial instrument in Germany
The photos were recently published by “King Trapouts” who posted screenshots of the fabricated numbers.
He even goes so far as to describe Jacob Canfield as a “fraud”.
Where the reveal of the photos showed that “Canfield” doubled 7 bitcoins to the amount of 15 bitcoins with the publication of 10 pictures, but all of them carry an exaggeration of profits, fake and not real.
we will Tweet embed He tells people that since I caught him posting over 10 photoshopped posts, it was “early in his Twitter career.”
I literally posted this yesterday.
Moreover, anyone who was doing the analysis for it is not a scam. This guy though. pic.twitter.com/J3mbmHV1xz
– The King (Trapouts) March 13, 2020
Canfield makes money from his subscribers who think he’s a big trader and go to him for advice.
On his Twitter account, he promotes himself as the “No. 1 Analyst for Cryptocurrencies” and a Guest Analyst at Forbes and CNBC.
This has now been changed to “User for forecasts, data and research to trade the markets”.
Read:Beaxy loses $570,000 as a result of a flaw in the Ripple trading system
“The #1 Ranked Bitcoin Analyst & Chiropractor Tweet embed Also known as He is, as we expected, a photoshop/ rogue while busy collecting subscribers’ hard-earned money.
Submariners must claim their money back and/or call Tweet embed #btc # encrypt pic.twitter.com/VZ9FVA3lb0
– GuruLeaks (@Guruleaks1) March 14, 2020
Canfield’s reaction:
Canfield issued a statement to many of its followers in an attempt to explain what happened.
He says that from now on, he will conduct live video trading of all his trades.
He did not apologize for any wrongdoing and instead blamed the mob mentality which is strong in Twitter as he described it.
He claimed that he was prevented from telling his side of the story and that everything was blown out of proportion.
From now on I will be doing live video trades of all my trades.
All my trades will be on Binance and Bybit.
The mob mentality is strong on Twitter where you can’t really tell your side of the story and things are taken out of context and disproportionately amplified.
Read:Learn: How Coinbase Became the World’s Largest Bitcoin Bank
Jacob Canfield March 14, 2020
It should be noted that “Canfield” initially published an apology, which he later deleted.
He admits to using Photoshop and said at the time that it would never happen again, and said he did it simply for more fame.
Reactions to Canfield’s response were largely negative and a disregard for his reconciliation efforts.
Conclusion:
The cryptocurrency market is full of fake analysts who claim to have the magic formula and can read the markets more than anyone else.
And the worst of all is that they take people’s money wrongly by filming fake footage and focusing on the winning sides only without telling the other side of the loss, and they make promises that cannot be guaranteed while the crypto market is a volatile market and no one knows what is coming.
Therefore, we recommend that we, on the Bitcoin Arab website, be careful, especially for beginners, because things may go wrong and users may lose their money through fraudulent operations, as happened a few days ago with a person whose story we told in this topic:
A member of the Arab Bitcoin community tells the story of his exposure to a cryptocurrency scam
Read also:
Bitcoin price stability after sharp declines… And society asks: “Is the decline over?”
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