TikTok: Wanna Watch’Em Cry O’er Market Crash?

As the cryptocurrency market crashes, social media react. One of the most prominent trends inspired by this downfall is the abundance of videos on TikTok which show finance experts (often self-proclaimed) go on about the market perspectives or about how they have foreseen the crash months ago. This trend makes TikTok look like an office rather than disco.

TikTok still reveals its viral nature. One quote that has inspired some speakers can go viral in hours; so it happened with a phrase by Warren Buffet: “Be fearful when others are greedy, and greedy when others are fearful”. It seems that for many, this one phrase contains all the financial wisdom of the world. One has to be self-assured as hell to make lots of videos with obviously little experience – at least, little positive experience.

Practical recommendations are hard to find among these stories about disappointment or “have-I-told-you” triumphant poses. On the other hand, TikTok benefits as usual by having these videos, as they attract millions of views and reactions.

What do specialists recommend to do about this flood of FinanceTok? The most reasonable decision is not to take them too seriously when it comes to information or instructions. Instead, you can see TikTok as the place where people share their emotions. This time, though, it’s not that sheer joy to a house or pop-dance track. It’s grief, disappointment, terror, dismay, and even schadenfreude. The biggest lesson of this mass reaction on TikTok is that negative emotions sell well too. Seeing grown men cry may be embarrassing, but they do it just as sincerely as young girls dance to Blackp!nk or Ariana Grande. And that’s what you should search on TikTok instead of prophecies and magic words.

And what about you? Have you found any financial experts on TikTok? Are you often there? Have you ever benefitted from financial experts on social media? Share your story with us in the comments if you wish!