As bitcoin continues on its current bullish path, all kinds of people are trying to ride this wave by buying any cheap coins they can get their hands on as they anticipate the next High to come. But the scary part about this is that Big money is also flowing into the crypto economy that will push price to easily register new highs, but this comes at a price, when these whales decide to take out their money.. markets bleed red which is why Big money is not good if volatility is to be controlled. In the long run Bitcoin is better off without the Big money, otherwise this becomes like a pyramid scheme always leaving the last man standing with empty pockets as the first guy to make a move gets all the accumulated $$$$.
What's the community's take on this?
I do tell people that investing in altcoins should have a limit because many of these altcoin projects are mainly for the purpose of becoming rich where invest would be anticipating on the market going for a bullish run while the CEOs of those projects are living a lavish lifestyle.
I have seen many of these projects that had ended up becoming a rug pull because of the carelessness of the team behind it. They can easily start another project even with investors knowing after the first projects crashes.
Whether the name of the team of a particular crypto project is know or not it can ended up becoming a rug pull for investors while the team go away with the dollar bag.
I remember what happens in 2021, people got rug pull by this token "Squid Game". Scammers were so strategic because they know that the name of the token is so popular to all that's why they choose it. We all know that in order to earn profit, we have to know where do whales buy and to avoid to be a victim of their manipulation. Most people use to by a currency if the price is high but that's a very risky decision because people who buys at low price starts selling.