Post
Topic
Board Economics
Re: Honestly do we really got rugpulled in pandemic?
by
virasog
on 13/11/2023, 13:03:51 UTC
That season has given us the wild ride, both positive and negative and that has given the best and worst on this market and also from the world. The best is like when the exposé of those real scammers in the community that has taken sums of money from the innocent users and swindled everyone, like was successfully made us a fool that they're the angels of the market. But lo and behold, they're the real devils that have planned it all along. And going with the real world incidents, it's like an actual reset for the majority but what I don't like from this scene is that the rich became richer.   Undecided
That was really a terrible one. A lot of of new projects were hyped that time that made us really excited to invest on the high potential ones but only to find out that those development teams suddenly shut down those projects and disappear in the market. Lucky are those who were never tempted to risk their money but a lot of those who have lost their money in an instant.

This incident had made me realized that no matter how you do research on the project, that is still not enough guarantee that we will never get scammed. Scammers have become smarter and they really make sure to attract the people first until they take advantage of the investors money and left the market  taking the investors assets.
it was also mainly because in the pandemic the market was getting all bearish, even the supposed to be giant of altcoin like celcius and so on are getting into bankruptcy, can't expect the lesser coin to perform better and not having that slight interest in rugpulling the masses.
that was really horrible experiences for those that are just delving into investment in cryptocurrencies and already facing such horrible condition, but it could be a good experience to learn that even the altcoin with hundred millions market capitalization are not really immune towards bearish and could also just gone like some shitcoins out there. should also teach to many people how essential it is to diversify portfolio to mitigate risk of losing all the investment altogether.


We got a sharp dip in bitcoins and altcoins during the start of the pandemic but that was also the trigger for the last bull run where the price of bitcoin rose from 3800$ to 68,000$.  Those who sold early during the pandemic would be regretting themselves.

Any major bad event will cause a sharp decline in the financial markets but usually, the bitcoin market recovers very quickly as compared to the stocks or forex market. You can see that currently; the world is in crisis due to Gaza War and the Ukraine / Russia war but we have seen around 10,000$ surge in bitcoin prices within a period of only one month.