Quote from: LittleBitFunny on December 25, 2021, 05:38:48 PM

Quote from: Ultegra134 on December 23, 2021, 04:20:08 PM

Quote from: bct-user on December 22, 2021, 07:00:40 AM

Quote from: JohnBitCo on December 22, 2021, 05:53:36 AM

Everyone know this that they should only invest that money which they can afford to lose but in practiice only few people follow this practice.

That's because they are greedy. People become crazy to put all their money in crypto after they succeed to take profits at the first attempt. But then, they regret it since there is a huge correction after a big pump. It happens in most altcoins, especially those meme coins. Doge and SHIB ever skyrocketed, people think investing money in these coins is safe enough with support from Elon Musk. But finally, they lost their money after the hype of these coins are over. From these phenomena, we must learn that no coins safe enough to invest with all our money.

These incidents are becoming more and more popular, with the founding of the Binance Smart Chain, where everyone can simply create a coin, with little effort. Especially after the hype with Doge and Shiba, the cryptocurrency scene was flooded with newbies that thought it's a get rich quick scheme, only to be proved wrong, shortly after. I even have acquaintances and friends of mine ask for advice, after purchasing some crap coins no one knows about, without any kind of research before proceeding.

Actually, "Research" will not help you When someone popular and tech skilled like Elon Musk spreads out the positive news for any coin it is really hard to prevent someone to invest in that coin.
People who don't have enough skill in crypto and who have little skill blindly follow such influencers. Elon Musk is a self-declared influencer all over the world.
People follow him cause he is knowledgeable in tech but you know he misuses his power and misguided his followers.
yes, invest your money which you can afford to lose but choose the right project, don't jump here and there with your free money. cause when you lose your money, your negative thought will impact all over the market.

That's true, doing your own research isn't always lucrative, it's often dependent on many factors, such as people of influence, Elon Musk mostly mentioned Dogecoin, which led to a huge rally, with it reaching $0.50/each, if I'm not mistaken. Flocks of people run to buy Dogecoin, and let's just say that a large number of them lost their money.