It's a topic of debate nowadays, and opinions vary. Some believe that hashtags no longer significantly impact reach, while others consider them crucial.
The reality is that hashtags don't carry as much weight in boosting reach as they did a few years ago, thanks to new features like the For You page, recommendations, and improved search engines on Instagram.
In essence, don't stress too much about hashtags. However, incorporating a few can provide additional information to the algorithm. I recommend using prominent hashtags in your niche rather than generic ones like #reels or #explore.
For example, if you're in the business niche, use hashtags like #business, #entrepreneur, and #finance. But don't overdo it; Instagram suggests using between 2 and 6 hashtags to avoid a decrease in reach. Keep it simple.
P.S. Here's a tip: avoid placing your hashtags in the comments. Instagram's algorithm prioritizes content description for ranking and SEO, not the comments section.
My 3 most viral videos don’t have any hashtags, I focus on providing valuable caption and info to my audience. Letting SEO “Search Engine Optimization” handle the rest for me :)
My Hashtags thoughts: