Cryptocurrencies have been all the rage for the past year or so, creating substantial wealth for investors who bought these virtual coins anytime before the beginning of 2017. Some of the most popular, like Litecoin, Bitcoin, Ethereum, Stellar, Unity and Ripple, have generated enormous returns for anyone who bought, mined, or otherwise acquired these digital currencies soon after they came into existence. We are talking about gains of between 4,000% and 17,000,000% -- potentially life-changing wealth.
Yeah what you say is somehow correct.
But i would like to add some my opinion into it.
People most of the time buy cryptos without piercing into the deeper insight of the coin. They buy mostly in order to gain profit.
Many traders buy the coin which is down in the hope of that it will rise again soon. But there only they make the mistake by investing in the coin without looking into the growth graph and faces losses.
Many people love to buy cryptos as it appears them to as a valuable asset which they will sell when the price is high or when they are in need of money.