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Poor Advice in a Volatile Market

Korean Youtube influencer and cryptocurrency marketer Spunky, otherwise known as Bitgosu, has resumed broadcasting from his Youtube channel about a month after he was attacked at his home in Seoul.

On January 10th, Spunky was ambushed in the hallway leading up to his condo in Seoul by assailants bearing hammers. They attacked him in the elevator of the building and left him with serious injuries. He spent time in the hospital, but has since returned home to continue broadcasting his show. It has been noted that his show has been toned down of late most likely due to his recovery efforts.

Spunky proclaiming he did not wish to do any harm to his viewers.

Since that attack, Coindesk Korea headed a research effort to objectively qualify the advice that Spunky has been giving his audience over the years through his CoinRunner program. This is an effort that has not been done at this scale for a single individual influencer before. It reveals results that put into perspective the possible motive for the unfortunate attack on the influencer.

They have not as of yet covered all of the cryptocurrencies he promoted on his show, but have produced an extensive list of the ICO’s he promoted, the value they were launched at, and the value per coin they sit at now. If the token prices are higher than their ICO price, then his advice can be considered profitable, and if they the token prices are lower than the ICO price, it is negative advice.

Overall, the list of 21 coins analyzed demonstrates a net negative result. Almost all of the coin prices dropped below ICO price, with 7 of them dropping below 97% of ICO price. 7 others dropped by more than 30%, and 5 are no longer traded.

A list of ICOs promoted by Spunky starting with those that sustained 97%-99% drops in value (salmon), 30%-90% drops in value (beige), those no longer traded (red), and those with no gain or positive gain (green) from their launch date to now. February 11, 2020.

On his channel, Spunky explained on his channel that when he was attacked, the other elevator doors opened with his neighbors inside. They witnessed the attack and likely saved him from further injury.

He displayed regret for his ICO calls in admitting “[I should have seen that the bubble in the market was bursting in order to provide my viewers with a way to cope with it… I was greedy.]”

Spunky promoting OPEN Platform which has lost over 97% of its value-per-coin since ICO.

“[I’m just a YouTuber who wants to invest in cryptos and make my life more comfortable. I did not work with the projects I promoted in order to get their per-coin value up so I could dump my stacks on my viewers for a profit or perform money laundering.]”

Spunky claims to have considered leaving the cryptocurrency industry following his life-threatening incident, but says that for now he plans to stay.

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