New media platforms like YouTube ( (GOOGL) - Get Report), Reddit, Facebook ( (FB) - Get Report), Twitter ( (TWTR) - Get Report), etc. have changed the way we receive information. In addition to that, it also has given the power to common people (sort of) to become an expert in many things, including the stock market.
These influencers have amassed a great following on social media, especially among young investors.
Brian Jung, a YouTuber who shares his trading experiences, believes that people follow them because they can relate to influencers like him.
"... it seems like there's a strong divide right now between "us" versus "them". There's a difference between "us" fighting against these institutions, these large hedge funds," Jung said. "And when you create this narrative of 'an enemy', an enemy of the state that people are trying to bring down. There are naturally going to collude with the good guys in this situation."
See the full interview here: Meet the YouTuber Turned Crypto Influencer Who's Advising Millennials
Jung, who regularly talks about cryptocurrencies in his YouTube channel with over 751,000 subscribers, says that his followers see them as their friends.
"When you look at your peers - your brothers and sisters to your left and right - you are going to naturally see them as an alliance. And I believe you you go on to YouTube, when you go on to the forums, and when you talk with your friends about these (stocks) movements, people really resonate with that..."
Watch the video above to know more.