Post
Topic
Board Speculation (Altcoins)
Re: Want to invest
by
uneng
on 31/12/2022, 19:08:58 UTC
Better not, you need to do your own research and analysis in finding the right way with your investment, following other's strategy might lead you to lose your money, they have sets of plan just in case the market will not favor the position that they have while you don't have anything and if fear will dominated you, the chance that you will sell your holdings during the bear market and unable to recover once the market start to bounce back.
because every investor has different goals and has a different strategy.
So if someone wants to invest in coins or altcoins that are just following other people's words, that would be like suicide.
because what other investors are planning we will never know and they have a way to cover losses when an accident occurs to the coins they hold.
Meanwhile, if we follow other investors, we will definitely be confused about what to do when the coin we hold that is the same as another investor crashes and we will only lose.
so it's really not recommended to invest in following other people.
But isn't crypto market all about following other people in order to make profit? Investors are constantly trying to find a new hype at its beginning, so they follow other people on that hype to purchase tokens at its beginning, and sell on the moment closest as possible of the ATH. That is how altcoins' investments return profit to enthusiasts.

For crypto market to thrive, people need to follow other people, even if they want to deal only with bitcoin. I think the problem is who investors are following. If they follow legit developers and other legit investors who have a long term vision of cryptocurrencies, it will be rewarding for them, but if they follow scammers and charlatans, they are going to lose their money.