UF News | Chasing followers makes crypto traders perform worse on social investment sites

Whether excited about gaining new followers or desperate to win back lost subscribers, investors who saw changes to their subscriber count performed worse than before their subscribers changed, according to a new study from PricewaterhouseCoopers ISOM Professor Liangfei Qiu.

“If the number of followers increases a lot, it creates an overconfidence effect. You are more aggressive in trading, and your future trading performance will be worse,” he said.

Read more in this story from UF News.