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.
A quick and thoughtless working attitude towards any area of life can lead to failure, not just cryptocurrencies.
In life, building dependable practice often requires patience, dedication, and a long process. Learning, honing skills and experience, networking, and working hard are all important ingredients for certain success. The same goes for investing in cryptocurrencies, both of which require an understanding of the job security of the market and growth potential, weighing risks, and wise financial management.
Accumulating improvement and success in life is not a random act of risk, but the result of a long process that requires careful preparation and proper planning.
this one is true, rarely i see some half assed products would be successful in the long term, let alone gaining massive growth within decades into the future.
this is why with altcoins thats quite volatile, even though we gonna get news about some people quite literally turning their measly money into some high amount of money by just investing in altcoins.
its honestly only fraction of what happened to the whole community that revolve around investing in that coin in general, only 1 out of 10,000 gonna be getting all the rewards.
meanwhile the late comer will definitely become food for these early birds.