Quote from: Tipstar on Today at 12:46:41 PM

Quote from: krishnaverma on May 10, 2023, 02:56:31 PM

I have mentioned multiple times in past here that people should be cautious with alt coins. If some coin has moved up like 100% or more in just 24 hours, it does not mean that you should also purchase the coin. You should first understand the reason behind prices moving up. Then, you should also analyze the benefits and demerits of the project.

One such option has come again in safemoon. The coin has pumped more than 100% when they reduced fees from 10% to 1%. Now new investors are rushing to invest in this coin. This is the situation when the past investors in the coin are like in 99% loss of their invested value. But greed make people loose all senses I think. If you are still thinking to invest in safemoon now, think twice.

By human nature people are attracted to high earnings potentials and are ready to risk their money for it. Some even lose more than they are capable of. The reality are hard learned by losing and there's no learning in altcoins. Missing out is another thing people regret about, so the best way is to take the middle path and invest small amount in multiple projects you believe could moon x10 or x100 in upcoming days. It's surely risky but there are some strategies to be on the safer side while trying not to miss on the hype though.

That is actually a primarly mistake from newbies and laymen to invest in such altcoins just because they are pumping 100% in short periods of time. However, I think everyone has already been on that position before, maybe not exactly inside crypto market, but on another situations of their lives. The important here is to learn with our mistakes and to understand the mechanics of the market to prevent repeating them again later.

Greedy investors may find it difficult, but if they really aim positive returns on long term, they don't have any other choice.